North America Clinical Trials Market - Growth, Trends, and Forecasts (2020 - 2025)

The North America clinical trials market is expected to register a CAGR of 8.1% during the forecast period. The market will show rapid growth due to the demand for clinical trials in the emerging markets, high R&D expenditure of the pharmaceutical industry and the rising prevalence of diseases.

In emerging countries, there are numerous unmet needs of clinical trials for novel drugs, due to the increasing prevalence of infectious and tropical diseases in the region. The population is found to have has varied disease profile which is increasing with the span of time and this is expected to boost the clinical trials of new or rare diseases. Therefore the number of patients having a specific disease would act as a stimulus for biopharmaceutical companies to invest more in clinical trials for a disease segment.

According to the National Clinical Trials Registry (NCT), in 2020, there are approximately 11,865 active clinical trials under development across different phases for cancer indication in the United States.

The research and development (R&D) spending of pharmaceutical companies has also been steadily increasing over the past few years. This was mainly due to numerous patent expiries, and as a result of the patent expiration, there are many pharmaceutical companies that will have no other option but to develop new drugs. Therefore, the companies are spending more on R&D to accelerate the development of drugs through clinical trials, and henceforth increasing the overall market.

Key Market Trends

Phase III is the Largest Segment Under Phases that is Expected to Grow During the Forecast Period

The market is expected to be dominated by Phase III, with Phase I expected to witness the fastest growth. Phase III is one of the most critical phases assessing the effectiveness of the new intervention, as well as its value in clinical practice. The Phase I trial in the market studied is also expected to grow at a steady rate, due to the increasing number of investigative new drug (IND) applications filed. The government initiatives in the North American countries for the promotion of drug discovery and continuous technological innovations are expected to propel the market growth. According to the National Clinical Trials Registry (NCT), currently there are about 309 active clinical trials under phase III development for cardiovascular diseases in the United States. Thus, owing to above factors the segment is expected to show growth in coming years.

Competitive Landscape

The North America Clinical Trials Market is fragmented competitive and consists of several major players. The major pharmaceutical companies are found making enormous investments in R&D, especially in the emerging nations, in order to gain opportunities for market growth in the major regions. The strategic partnerships among pharmaceutical companies and the CROs are expected to have a significant impact on the market's growth.

Reasons to Purchase this report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.