Europe Clinical Trials Market Company Revenue Shares And Analysis Report 2030

Europe Clinical Trials Market Growth & Trends

The Europe clinical trials market size is expected to reach USD 20.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.7% from 2022 to 2030. The rise in technological advancement for clinical trials is one of the key factors driving the market. The growing adoption of new technologies like artificial intelligence, big data analytics, blockchain, clinical trials payments, and patient engagement solutions among others have significantly contributed to the market growth. The COVID-19 pandemic had improved the adoption of virtual clinical trials in the region. Therefore, the growing adoption of new technologies is likely to promote the growth of the market.

Germany Clinical Trials Market size, by study design, 2020 - 2030 (USD Billion)

Europe Clinical Trials Market Segmentation

Grand View Research has segmented the Europe clinical trials market based on study design, phase, and region:

Based on the Study Design Insights, the market is segmented into Interventional, Observational and Expanded Access.

  • The interventional trials segment dominated the market and held a substantial market share of 78.6% in 2021 as a significant number are studies are performed by this study design, owing to the greater accuracy and relevance observed by interventional studies, as compared to observational study design. The majority of interventional studies are done for drugs and biologics, and the growing demand for these drugs is further contributing to segment growth. This type of study design consists of large randomized clinical trials, thus helping to detect small to moderate effects of drugs. Interventional studies provide the best means of minimizing the effect of confounding, thus improving its adoption, as compared to other clinical study designs.
  • The observational study design segment is anticipated to witness a remunerative growth of 5.8% during the forecast period. The observational study is usually considered when intervention study designs are unfeasible or unethical. These studies provide greater proximity to real-life situations and are cheaper than randomized clinical trials. These studies are used to investigate rare outcomes and to detect unusual side effects of a drug in the trials.

Based on the Phase Insights, the market is segmented into Phase I, Phase II, Phase III, Phase IV.

  • The phase I segment is anticipated to expand at the fastest CAGR of 6.2% over the forecast period. This is due to the significant R& D investments by public organizations and private firms for clinical trials in the region. The demand for new treatments and biologics in the region is further contributing to the growth of the segment. On segments by phase include phase II, phase III, and phase IV. The phase III segment registered the largest revenue share of53.2% in 2021. Phase III clinical trials are more complex than other phases.
  • Although the number of drugs in this phase is relatively low, the complexity associated with this phase is the highest. This phase witnesses the highest failure rate due to complexities in study design and a huger sample pool. This, in turn, leads to difficulty in preparing an optimum level dosing regime. Phase III trials require a huge patient population, which is one of the prime reasons for the high cost of this trial. These factors are attributed to the cost-intensive nature of this segment. Moreover, the studies in phase last for a longer time, as compared to phase I and II, which further increases the cost of the trial and boosts the segment share in the market.

Europe Clinical Trials Regional Outlook

  • U.K.
  • Germany
  • France
  • Italy
  • Spain

Market Share Insights

  • July 2021: Charite Research Organisation GmbH conducted a randomized phase II clinical trial to study Polycystic Ovary Syndrome (PCOS) in women by using either licogliflozin or placebo.
  • April 2021: The Novo Nordisk A/S announced that it is initiating a phase3 trial for the development of oral Semaglutide 50 mg in the treatment of obesity. Market players have also tried to expand their market share through partnerships.

 Key Companies Profile & Market Share Insights

The market for clinical trials in Europe is competitive as key players are constantly implementing strategies for improving their share in the market. Various strategies adopted by the players are acquisitions, new trial launches, and collaborations.

Some of the prominent players operating in the Europe clinical trials market include,

  • IQVIA Holdings, Inc.
  • PAREXEL International Corporation
  • Pharmaceutical Product Development, (PPD) LLC.
  • Syneos Health Inc.
  • Eli Lilly and Company
  • Novo Nordisk A/S
  • Pfizer, Inc.
  • Notghi Contract Research GmbH
  • Charite Research Organisation GmbH
  • Janssen Global Services, LLC
  • Mondosano GmbH
  • KFGN
  • Clariness
  • Invisio Clinical Studies Consulting

Order a free sample PDF of the Europe Clinical Trials Market Intelligence Study, published by Grand View Research.

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