Clinical Trials Market size is expected to reach USD 78.3 billion by 2030
Clinical Trials Industry Overview The global clinical trials market size was valued at USD 47.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030. However, the market growth was hindered in 2020 due to the COVID-19 pandemic. In 2020, Parexel and Synairgen plc formed a strategic collaboration for conducting a Phase III study of an Interferon-beta (IFN-beta) treatment for COVID-19 patients. Such strategic initiatives by CROs are expected to minimize the hindrance and boost the market growth. Hence, the market is expected to grow owing to factors such as globalization of clinical trials, rapid technological evolution, and a rise in demand for CROs for conducting research activities. Gather more insights about the market drivers, restrains and growth of the Global Clinical Trials Market The current pandemic has led to changing the ways of conducting ongoing or upcoming clinical trials. Regulatory ag...