Research and Markets added "Clinical Trials Market Size, Share & Trends Analysis Report by Phase (Phase I, Phase II, Phase III, Phase IV), by Study Design (Interventional, Observational, Expanded Access), by Indication and Segment Forecasts, 2020 - 2027" to its reports yesterday (28 July 2020).
Key findings from the report:
Key trends highlighted by the report:
Clinical trials have become increasingly costly ventures driving up the costs of drug development. Pharma and biotechnology firms (big and small) are looking for innovative ways to improve trial outcomes and decrease trial costs.
COVID-19 is driving growth and leading to increased demand for therapies and vaccines. Currently, there are 288 therapeutics and 106 vaccines in development. Out of this, nearly 7.0% therapeutics are in Phase IV, 21.0% in Phase III, 43.0% & 13.0% in Phase II & Phase I respectively.
Although the pandemic has caused widespread disruption to the clinical trials market, fast-tracking initiatives by regulatory bodies (incl. EMA an FDA) are having a positive impact.
In addition, the industry has shown great resilience and adaptability in relation to shifting to remote and virtual models. The shifts necessitated by the pandemic are likely to have lasting influence over the future of the sector.
The full report is available for purchase at Research and Markets.com