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The North America clinical trials market size was valued at USD 35.31 billion in 2023. The market is further projected to grow at a CAGR of 6.0% between 2024 and 2032, reaching a value of USD 60.16 billion by 2032.
According to the North America clinical trials market analysis, clinical trials are a crucial testing ground for potential drugs and devices. The advancing technological landscape in the healthcare sector has enhanced the way life science companies conduct clinical trials. Technologies, such as artificial intelligence, decentralised clinical trials, and wearable devices help companies conducting clinical trials overcome common challenges of the market, such as poor study design, ineffective site selection, and participant dropout.
A strong regulatory framework in the field of clinical trials is also strengthening the North America clinical trials market development. For instance, Health Canada, the Federal department helping Canadians maintain and improve their health, is working on modernising the Canadian clinical trials’ regulatory framework. It proposes the establishment of a single authorisation of a trial involving multiple health products, the use of a risk-based approach for regulating clinical trials, and the approval of decentralised/hybrid trials to increase diversity and inclusion. In the United States, the Food and Drug Administration (FDA) sets rigorous standards for clinical trial design, collecting and analysing data, and reviewing all applications for new drug approvals.
Industry-sponsored trials are widely popular in North America. In 2022, these trials accounted for 63.9% share of all the clinical trials in the United States. Oncology was the leading therapeutic area for industry-sponsored clinical trials with a 37.0% share in the United States in 2022.
North America Clinical Trials Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments.
Market Breakup by Service Type
Market Breakup by Phase
Market Breakup by Therapeutic Area
Market Breakup by Application
Market Breakup by Country
The key players in the clinical trials market in North America are conducting trials in accordance with the stringent regulatory framework in the region.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Service Type |
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| Breakup by Phase |
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| Breakup by Therapeutic Area |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the clinical trials market reached an approximate value of USD 35.31 billion.
The market is expected to grow at a CAGR of 6.0% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 60.16 billion by 2032.
Clinical trials are research studies that test a behavioural, medical, or surgical intervention in people. Through these trials, researchers determine if a new form of treatment, drug, diet, or medical device is safe for people.
FDA oversees clinical trials to ensure conducted, analysed, and reported as per federal law and good clinical practice (GCP) regulations. FDA also ensures that the right, safety, and welfare of the people participating in the trial is protected.
The major drivers of the market include a strong regulatory framework, the advancement of technology in the clinical trials market, and the rising number of people suffering from cancer and infectious diseases.
Key trends aiding market expansion include extensive research and development to advance the clinical trial market, the integration of technologies such as artificial intelligence, and the rising number of diseases.
Major countries in the market are the United States of America and Canada.
The common phases of clinical trials are phase I, phase II, phase III, and phase IV.
Key players in the market are IQVIA Inc., Laboratory Corporation of America Holdings, Syneos Health, Charles River Laboratories, Thermo Fisher Scientific Inc., Parexel International (MA) Corporation, Medpace, Inc., ACM Global Laboratories, Frontage Labs, Dropoff, Inc., and others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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