The size of the European Clinical Trials Market was valued at USD 4.62 Billion in 2018 and is projected to reach USD 6.51 Billion by 2024 at a CAGR of 7.10% from 2019 to 2024.
In clinical laboratories, conducting many experiments on determining new products including finding new treatment procedures for various procedures is known as clinical trials. These products ensure the safety and efficacy of the new product. In general, they subject to produce quality drugs and vaccines in concern towards people’s health. While observing the product manufactured, investigators will perform many tests to find out errors in the design.
Clinical trials market in Europe has been growing rapidly. Looking at the current scenario, COVID-19 Pandemic is highly affecting Clinical trials market in Europe. In Europe, Germany holds the highest number of clinical trials because of having low research and development costs. The number of people infected with COVID-19 is increasing tremendously, which is a major factor for the market to grow. 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 delaying. Spain is also adversely affected due to this Pandemic and is levelling up the demand of the market.
The UK is officially the worst-hit country in Europe. Government, industry and research organizations are working together for the development of a vaccine against COVID-19. France was also leading the market, but current challenges to run clinical trials safely and effectively are hindering the clinical trials market growth in this region.
Increasing incidences of chronic diseases and others globally are the key driving factor for the market to grow constantly. In Europe, the rise in the demand for effective treatment procedures at any cost is propelling the growth of the clinical trial market. Also, the growing prevalence of the launch of new products and to have approval from food and drug administration is also ascribed to bolster the demand of the market. Besides, the market growth is fueled by rising awareness over the utilization of various materials in designing the product.
Growth opportunities for the market lie in the adoption of the latest technologies and also the launch of innovative products. Companies focus on investing huge amounts in pharmaceutical industries is also a chance for the market to grow eventually. Furthermore, the rise in the disposable income in urban areas is escalating the demand of the market in Europe. The growing scale of research institutes in the biotechnology field is likely to outshine the growth rate of the Europe clinical trials market.
However, the dearth of skilled persons in manufacturing products under different strategies is slowly degrading the demand of the market. Lack of standardization is one of the factors hampering the growth of the Europe clinical trials market. Stringent rules and regulations by the government in approving the latest products has remained a challenging factor for the market players.
This report on Europe Clinical Trails Market has been segmented into the following categories:
Geographically, Europe is the second biggest market in terms of market share in the global clinical trials market.
The clinical trials market in the UK is holding the highest shares of the market from the past few years 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 is voluntarily taking 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. The UK government has launched a new clinical trial programme 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.
Germany has the highest number of clinical trial 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 the 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 by German regulatory authority to conduct phase I / II clinical trial of COVID – 19 vaccines.
Spain ranks fifth in a number of clinical trials. 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 there phase II clinical trials of a drug named aplidin to treat COVID – 19.
France clinical trials market is expected to have the highest CAGR in the coming years. The French government invests a large amount in clinical trials. On-going research on the development of drugs for rare diseases is enhancing the growth rate of the market. Clinical trials of Ivermectin to treat COVID-19 are already started.
Some of the leading companies operating in the Europe Clinical Trails Market profiled in this report are Chiltern, Omnicare, PPD, Parexel, Kendle, Quintiles, ICON Plc and Charles River.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Phase I
5.1.3 Phase II
5.1.4 Phase III
5.1.5 Y-o-Y Growth Analysis, By Phases
5.1.6 Market Attractiveness Analysis, By Phases
5.1.7 Market Share Analysis, By Phases
5.2.2 Interventional trials
5.2.3 Observational trials
5.2.4 Expanded Access trials
5.2.5 Y-o-Y Growth Analysis, By Design
5.2.6 Market Attractiveness Analysis, By Design
5.2.7 Market Share Analysis, By Design
5.3.3 Blood disorders
5.3.14 Mental disorders
5.3.19 Y-o-Y Growth Analysis, By Indications
5.3.20 Market Attractiveness Analysis, By Indications
5.3.21 Market Share Analysis, By Indications
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Phase
22.214.171.124 By Design
126.96.36.199 By Indication
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Phase
220.127.116.11 By Design
18.104.22.168 By Indication
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Phase
188.8.131.52 By Design
184.108.40.206 By Indication
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.7 ICON Plc
8.8 Charles River
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures