Europe Clinical Trials Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

The European clinical trials market is expected to register a CAGR of 4.2% over the forecast period.

The COVID-19 outbreak has had a notable impact on the growth of the market. The sudden outbreak of the pandemic paved the way for effective clinical trials in Europe. There was an increase in the number of clinical trials in Europe for developing COVID-19 therapeutics. For instance, in the ASCPT journal data published in January 2022, the COVID-19-related clinical trials increased by 10% compared to 2019 in the European Union. Such an increase in clinical trials during the pandemic had a notable impact on the market studied. In addition, the demand for clinical trials is expected to remain intact due to the emergence of various mutant strains of COVID-19 and their related therapeutics, thereby fuelling market growth over the forecast period.

Factors responsible for the growth of the European clinical trials market include high research and development (R&D) spending in the pharmaceutical industry and the increasing prevalence of diseases. For instance, as per the data published by OECD in 2022, the pharmaceutical expenditure in Italy in 2021 was USD 728.43 per capita. The clinical trials market in Germany is growing due to the rising frequency of chronic conditions such as cancer, diabetes, and cardiovascular diseases (CVD). For instance, according to estimates from the March 2021 update by the Global Cancer Observatory, around 628,519 new cancer cases were identified in Germany in 2020, which is estimated to rise.

Besides, favorable government support has motivated small, medium, and large players to enter orphan drug development. The increasing government funding to support R&D activities and drug discovery in this region contribute to market growth. For instance, in 2020, the Spanish government announced that it is planning to invest around EUR 25 million (USD 26.45 million) in precision medicine, genomic medicine, and data science over the next three years under a new project called Precision Medicine Infrastructure Associated with Science and Technology (IMPACT). The effort is expected to result in the creation of a national cohort for drug discovery and research, as well as an integrated clinical and genomic data infrastructure at the national level leading to an increased usage of clinical trials.

Thus, the abovementioned factors are expected to drive the growth of the market studied during the forecast period. However, stringent regulations for patient enrolment are expected to restrain the growth of the market studied.

Europe Clinical Trials Market Trends

Phase III Segment is Expected to Hold the Major Revenue Share During the Forecast Period

In phase III, the drug or the treatment is tested in large groups of people, ranging from 1,000 to 3,000 participants. These trials are conducted to confirm and expand on the safety and effectiveness results from Phase I and II trials, to compare the drug to standard therapies for the disease or condition being studied, and to evaluate the overall risks and benefits of the drug. The COVID-19 pandemic has driven the growth of the market studied owing to the increasing demand for effective therapeutics. For instance, according to the European clinical trials registry in 2021, around 267 clinical trials were found to be active for COVID-19.

Phase III is one of the most critical phases in assessing the new intervention's effectiveness and its value in clinical practice. As per clinical trials.gov, in 2021, over 3,011 clinical trials in European Union were active in Phase 3 for various chronic disorders. Such a high number of clinical trials in the European Union is expected to drive the growth of the studied segment.

United Kingdom is Expected to Hold the Major Revenue Share During the Forecast Period

The clinical trials market is expected to witness strong growth in the United Kingdom and is anticipated to maintain the same growth trend over the forecast period. The burden of increasing chronic diseases and the increasing number of development activities necessitating clinical trials are predicted to boost the studied market growth in the United Kingdom.

There has been an increase in the prevalence of cancer cases in the United Kingdom in recent years. For instance, as per the Globocan 2020 report, over 458,000 cancer cases were reported in the year 2020 and the number of cancer cases is projected to reach 596,000 cases by the year 2040. Therefore, the rising burden of cancer is predicted to lead to an increase in development activities, creating demand for clinical trials.

Additionally, various research indicated that the development of self-injection devices such as pre-filled syringes could positively impact autoimmune diseases, for instance, rheumatoid arthritis (RA) medication adherence, and patient-centered care. As there is a burden of RA in the country, the demand for the development of drugs and drug-delivery devices is increasing, this is further garnering the demand for clinical trials. For instance, as per the 2022 update of the Nationl Rheumatoid Arthritis Society (NRAS), nearly 400,000 people in the United Kingdom had RA in 2021, which is 2 to 3 times more common in women than in men. Such a high prevalence of disease and its burden is expected to fuel the market growth in the country.

Moreover, the data published by the Birtish Heart Foundation (BHF) in August 2022 shows that around 7.6 million people were living with heart and circulatory diseases, and nearly 4 million males and 3.6 million females were living with heart and circulatory diseases in the country in 2021. Hence, the prevalence of various cardiovascular diseases is expected to drive the demand for the development of effective drugs and devices, thereby contributing to the growth of the market.

The activities and investments related to clinical trials are accelerating in the United Kingdom which is further expected to fuel the studied market growth. For instance, in November 2022, CV6 Therapeutics reported investing almost GBP 8 million (USD 9.79 million) in first-stage clinical trials for a new anti-cancer drug. Similarly, in June 2022, GSK planned to invest GBP 1 billion (USD 1.22 million) in R&D over ten years to get ahead of infectious diseases in lower-income countries. Such investments by the major players are anticipated to create numerous opportunities for the studied market growth.

Therefore, owing to the factors mentioned above, the studied market is anticipated to fuel growth over the forecast period.

Europe Clinical Trials Market Competitor Analysis

The European clinical trials market is competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market which are Eli Lilly and Company, Pfizer Inc., Novo Nordisk, ThermoFisher Scientic, Sanofi, among others.

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