Europe Clinical Trials Market Analysis, Development, Opportunities, Future Growth and Business Prospects (2022-2028)
The Europe clinical trials market is expected to grow from US$ 15,739.35 million in 2022 to US$ 21,643.87 million by 2028. It is estimated to grow at a CAGR of 5.5% from 2022 to 2028.
Increasing Adoption and Outsourcing of Clinical Trials Fuels Europe Clinical Trials Market
Clinical trials are fundamental for assessing whether a new treatment or prevention—like a new drug, diet, or medical device—is safe and effective. These trials are primarily carried out during the drug development process. The European Medicine Agency reports that roughly 4,000 clinical trials are authorized annually in the EU, with approximately 60% being associated with the pharmaceutical industry. The rising number of clinical trials aimed at developing various effective treatments, driven by the increasing prevalence of chronic diseases, is propelling the growth of the clinical trials market.
Given the increasing complexity of clinical trials, the proper execution and oversight of operations within research-based organizations have become crucial. To mitigate errors stemming from improper execution, research-based organizations are opting to outsource clinical trials to facilitate their product development. Clinical Research Organizations (CROs) assist in the successful implementation of clinical trials by offering services that leverage high-quality facilities and extensive subject matter expertise. CROs have emerged as a critical support system for the clinical trial industry, thanks to their efficient and cost-effective operations that benefit trial sponsors. Thus, the development of cost-effective solutions and the reduction of errors by CROs during the drug development process are driving the growth of the clinical trials market.
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Europe Clinical Trials Market Overview
The Europe clinical trials market is segmented to include the UK, Germany, France, Italy, Spain, and the Rest of Europe. The market in Europe is expected to see growth during the forecast period, primarily driven by the increasing volume of clinical trial activities for new drug development and the introduction of innovative products by companies.
In Germany, the most frequently studied conditions in clinical trials include cancer, cardiovascular illness, nervous system disorders, and infectious diseases. Germany’s robust infrastructure, encompassing transport, communication, energy, and public services, provides a strong advantage for clinical research. Furthermore, the country possesses a significant patient pool and a high demand for quality healthcare. To foster academic clinical research, coordinating centers for clinical trials have been established as part of a new funding program under the Federal Ministry of Education and Research. Depending on the product under investigation, clinical trials in Germany are approved by either the Federal Institute for Drugs and Medical Devices or the Paul-Ehrlich Institute.
Europe Clinical Trials Market Segmentation
Europe Clinical Trials Market By Study Design
Interventional
Observational
Expanded Access
Europe Clinical Trials Market By Phase
Phase I
Phase II
Phase III
Phase IV
Europe Clinical Trials Market By Indication
Autoimmune/Inflammation
Pain Management
Oncology
CNS Condition
Diabetes
Obesity
Cardiovascular
Europe Clinical Trials Market Regions and Countries Covered
Europe
UK
Germany
France
Russia
Italy
Rest of Europe
Europe Clinical Trials Market leaders and key company profiles
Charles River Laboratories InternationalInc
ICON Plc
IQVIA Holdings Inc
IXICO Plc
Laboratory Corp of America Holdings
Parexel International Corp
SGS SA
Syneos Health Inc
Thermo Fisher Scientific Inc
WuXi AppTec Co Ltd
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