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Global Clinical Trials Market Research Report 2022-2026: Adoption of AI Tools for Drug Discovery, Outsourcing Activities in Emerging Asian Economies, & Integrated End-To-End R&D Service Solutions – PR Newswire

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DUBLIN, March 25, 2022 The "Clinical Trials Market by Phase (Phase I, II, III), Service Type (Site Identification, Laboratory Services, Decentralized Clinical Trial), Therapy Area (Oncology, Infectious Disease), and Application (Vaccines, Cell & Gene Therapy) – Global Forecast to 2026" report has been added to’s offering.
The clinical trials market is projected to reach USD 52.0 billion by 2026 from USD 38.7 billion in 2021, at a CAGR of 6.1% during the forecast period, owing to increasing number of clinical trials, rising prevalence of orphan & rare diseases and high cost of in-house drug development.

"By service type, the laboratory services segment accounted for the largest share of the clinical trials market"

Based on service type, the clinical trials market is segmented into protocol designing, site identification, patient recruitment, laboratory services, bioanalytical testing, analytical testing, clinical trial supply & logistic services, decentralized clinical services, clinical trial data management services, medical device testing services, and other services. Laboratory services is the leading segment of clinical trial services market, this can be attributed to the increasing preference of clinical research professionals to outsource such services.

"Asia Pacific: The fastest-growing region in the clinical trials market."

The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. The high growth rate in this region can be attributed to the fast-growing pharmaceutical industry in the region, favorable government policies, the increasing number of pharmaceutical companies establishing manufacturing facilities in the region, and the lower cost of clinical trials in the region.

"North America: The North America region accounted for the largest share of the clinical trials market"

North America accounted for the largest share of the clinical trials market. Rapid growth in the biosimilar and biologics markets and an increase in clinical trial activity are the major factors driving the market growth.

Competitive Landscape
In 2020, IQVIA (US) dominated the clinical trial market, followed by PPD (US), Syneos Health (US), PRA Health Sciences (US), and LabCorp (US). Other prominent players in the market are WuXi Apptec (China), SGS (Switzerland), and Medpace Holdings (US).

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