Clinical Trial Services Market, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.
Dallas, United States - May 17, 2021 /MarketersMedia/ —
A crucial part is played by Clinical-Laboratory services in healthcare sector. The primary reason behind this is that maximum number of testing and diagnosis for various types of diseases are performed in the clinical laboratories. Clinical laboratory services assure to offer reliable and accurate results on all the tests and diagnostics. The precision provided by them services is attributed by the use of high-tech devices and testing kits. Laboratory results on a disease help health workers and doctors to get to the decision regarding the treatment over the same. The laboratory equipments cancel out the amount of human interference in testing process eliminating the chances of errors. The global industry for clinical laboratory services has been witnessing an enormous amount of growth over the recent years. The escalation in market growth is credited by several growth propelling aspects.
In 2018, the global clinical trials services market was valued at USD 41.88 billion and is expected to grow at a CAGR of 10.1% over the forecast period from 2019 to 2027.
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There has been a significant rise in the number of infectious diseases across the globe in recent years. These rising number of diseases has been a major cause behind the upsurge in the growth of the industry. The growth in the number of people getting infected by the infectious diseases has caused a boost in demand for these services across the globe. The consistent developments in healthcare sector over the years have resulted in increase in life expectance of people giving a rise to increase in elderly population. This geriatric population is more exposed to chronic diseases and need regular health monitoring which in turn is providing boost to the performance of the clinical laboratory services market on global level. The rising technological advancements in the field has led to development of high-tech and advanced machinery in the clinical-laboratory services market worldwide. The growing acceptance of these devices across the globe is another aspect propelling the market growth.
The growth of global market for clinical-laboratory services is owned by number of growth driving aspects. The increasing number of research and development activities in the field has led to the introduction of advanced devices such as microarray, biochips and many more. The increasing adoption of such devices by market players across the globe has been boosting the growth of the industry. The increasing prevalence of several chronic or minor diseases in people of all ages is anticipated to provide momentum to market performance. In addition to that, the rise in number of initiatives taken by government authorities and private organizations in order to build an efficient healthcare infrastructure among developing regions is also been acting as a catalyst for the clinical-laboratory services market growth. However, the growth of the market is anticipated to be impeded by factors such as shortage of proper infrastructure in various regions and deficiency of trained professionals. In addition, the shortages of specimen collection materials, personal protective equipment (PPE) and test kits are also one of the hurdles for the market growth.
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Key Segments of the Global Clinical Trial Services Market
• Phase Overview, 2017-2027 (USD Million)
o Phase I
o Phase II
o Phase III
o Phase IV
• Product Overview, 2017-2027 (USD Million)
o Pharmaceuticals
o Biologics
o Medical Devices
o Others
• Therapeutics Overview, 2017-2027 (USD Million)
o Oncology
o Cardiovascular Disease
o Dermatology
o Neurological Disorders
o Metabolic Disorders
o Others
• End user Overview, 2017-2027 (USD Million)
o CROs
o Pharmaceutical & Biotech Companies
• Regional Overview, 2017-2027 (USD Million)
o North America
U.S.
Canada
o Europe
Germany
UK
France
Italy
Spain
Rest of Europe
o Asia Pacific
China
Japan
India
South Korea
Australia
Philippines
Rest of Asia Pacific
o Central & South America
Brazil
Mexico
Rest of South America
o Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
Some Major Points from Table of Contents:
Chapter 1 Executive Summary
1.1 Introduction
Chapter 2 Preface
2.1 Stake Holders
2.2 Research Methodology
2.3 Market Size Estimation Methodology
2.4 Forecasting Methodology
2.5 Scope, definition, and assumptions
2.6 Assumptions
2.7 Research Sources
2.7.1 Primary Research Sources
2.7.2 Secondary Research Sources
Chapter 3 Market Trend Analysis
3.1 Drivers
3.1.1 Rising demand for clinical trials worldwide
3.1.2 Growing disease burden
3.1.3 Rising R&D investments
3.1.4 Development of new treatments
3.2 Challenges
3.2.1 High cost
3.2.2 Lengthy timelines
3.2.3 Recruiting and retaining patients
3.3 Opportunities
3.3.1 New drug development and availability in emerging countries
Chapter 4 Global Clinical Trial Services Market, By Phase
4.1 Introduction
4.2 Phase I
4.3 Phase II
4.4 Phase III
4.5 Phase IV
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a Market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable Market insights to help create opportunities that increase their revenues. We follow a code- Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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