Europe Clinical Trials Market

Europe Clinical Trials Market Size (2022 to 2027)

The Clinical Trials Market in Europe was valued at USD 5.97 Billion in 2022 and is projected to reach USD 8.37 Billion by 2027 at a CAGR of 7% from 2022 to 2027.

Clinical laboratories conduct many experiments to determine new products, including finding new treatment procedures for various procedures, known as clinical trials. These products ensure the safety and efficacy of the new product. They are generally subject to producing quality drugs and vaccines concerned about people's health. In addition, while observing the product manufactured, investigators will perform many tests to find out errors in the design. 

COVID-19 impact on the Europe clinical trials market:

The clinical trials market in Europe has been growing rapidly. Looking at the current scenario, COVID-19 Pandemic is highly affecting the Clinical trials market in Europe. Germany holds the highest number of clinical trials in Europe because of low research and development costs. The number of people infected with COVID-19 is increasing tremendously, which is a significant factor in the market's growth. Italy is one of the worst COVID-19 outbreaks in the world. Clinical trials are going on to develop a vaccine against COVID-19. However, other trials like oncology are delayed. Spain is also adversely affected due to this Pandemic and is leveling up the market growth. The UK is officially the worst-hit country in Europe. The government, market participants, and research organizations are working together to develop a vaccine against COVID-19. France was also leading the market, but current challenges to running clinical trials safely and effectively hinder the growth of this region's clinical trials market.

MARKET DRIVERS:

YOY growth in the incidence of chronic diseases and other diseases across the European region demands more and more clinical trials to come up with the appropriate medications and treatments, one of the major factors propelling the clinical trials market in Europe. Furthermore, factors such as the rise in the demand for effective treatment procedures at any cost, the growing prevalence of the launch of new products, and to have approval from the food and drug administration are further promoting the clinical trials market in Europe. In addition, rising awareness over using various materials in designing the product, growing adoption of technological developments, and launching innovative products favor the clinical trials market in Europe.

The pharmaceutical giants are increasing their focus and investing heavily in R&D, which is anticipated to favor the clinical trials market in this region. Furthermore, the rise in disposable income in urban areas and the growing scale of research institutes in the biotechnology field are further boosting the growth rate of the European clinical trials market.

MARKET RESTRAINTS:

However, the absence of skilled persons in manufacturing products under different strategies is slowly degrading the market's growth. Lack of standardization is one of the factors hampering the growth of the Europe clinical trials market. In addition, stringent rules and regulations by the government in approving the latest products have remained a challenging factor for the market players. 

This research report on Europe clinical trials market has been segmented into the following categories:

By Phase:

• Phase I
• Phase II
• Phase III

By Design:

• Interventional trials
• Observational trials
• Expanded Access trials

By Indications:

• Autoimmune
• Blood disorders
• Cancer
• Circulatory
• CNS
• Congenital
• CVS
• Dermatology
• Ear
• Gastrointestinal
• Genitourinary
• Infections
• Mental disorders
• Metabolic
• Musculoskeletal
• Nose
• Ophthalmology  

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Geographically, Europe was the second biggest market in terms of market share in the global clinical trials market in 2021. In Europe, the clinical trials market in the UK had the most significant share in 2021 and is also to continue the same in the forecast period. More than 600 commercial clinical trials are taking place in the NHS (National Health Service). The UK is one of the leading countries in research for heart diseases, immunology, and nervous system condition. The patient in the UK voluntarily takes part in clinical trials. Around 870250 people take part in commercial and non-commercial clinical trials. The government is also increasing funds for new research and clinical trials. For example, the UK government has launched a new clinical trial program to fast-track the development of new drugs to treat COVID-19 named ACCORD. The recovery trial in the UK is currently the largest randomized clinical trial in the world.

The German clinical trials market is anticipated to grow at a steady CAGR during the forecast period. Germany has the highest number of clinical trials in Europe because of the low cost. The pharmaceutical industry in Germany is highly engaged in research and development; more than 70% of clinical trials have support from a government organization. The Federal Ministry of Education and Research has launched a Pharmaceutical Initiative for Germany to promote research and development activities. BioNTech and Pfizer have secured approval from German regulatory authorities to conduct phase I / II clinical trials of COVID – 19 vaccines.

With the growing number of clinical trials, the market in Spain is anticipated to grow at a moderate CAGR during the forecast period. Spain ranks fourth in Europe in conducting the number of clinical trials in 2019. The Spanish government is starting a new division for clinical trials. Spain is involved in 18% of the total clinical trial in Europe. PharmaMar, a Spanish company, has started phase II clinical trials of a drug named aplidin to treat COVID – 19. 

The clinical trials market in France is expected to have a healthy CAGR in the coming years. The French government invests a significant amount in clinical trials. In addition, ongoing research on developing drugs for rare diseases is enhancing themarket'ss growth rate. For example, clinical trials of Ivermectin to treat COVID-19 are already started.

KEY MARKET PLAYERS:

Some of the leading companies in the Europe Clinical Trails Market profiled in this report are Chiltern, Omnicare, PPD, Parexel, Kendle, Quintiles, ICON Plc, and Charles River.