(PharmaNewsWire.Com, June 05, 2018 ) Europe Clinical Trials market has been estimated at USD 3.98 Billion in 2016 and is projected to reach USD 5.61 Billion by 2021, at a CAGR of 7.10% during the forecast period from 2016 to 2021. Clinical trials are experiments done in clinical research. Such prospective biomedical or behavioral research studies on human participants are designed to answer specific questions about biomedical or behavioral interventions, including new treatments and known interventions that warrant further study and comparison. Clinical trials generate data on safety and efficacy.
The market for Clinical Trials is mainly driven due to support from the respective government bodies regarding the smooth performance of clinical trials, advantages such as availability of skilled practitioners and boosted the alliances between the pharma-biotech companies and the clinical research organizations. But, the market growth can be hampered due to stringent regulations and tight R&D budgets in pharma-biotech industry, which are also forcing companies to move to East.
Europe market for Clinical Trials is segmented based on Phase, design and indication. By Phase, the market is further sub-segmented into Phase I, Phase II, Phase III. By design, the market is further sub-segmented into Interventional trials, Observational trials, Expanded Access trials. By indication, the market is further sub-segmented into Autoimmune, Blood disorders, Cancer, Circulatory, CNS, Congenital, CVS, Dermatology, Ear, Gastrointestinal, Genitourinary, Infections, Mental disorders, Metabolic, Musculoskeletal, Nose, Ophthalmology. Cancer and CNS are the largest market share contributors to the market. Segments like Gastrointestinal, Circulatory, Dermatology and Mental Disorders are moving with high CAGR due to their increasing occurrence.
Geographically, Europe market for Clinical Trials is segmented into U.K., Germany, Spain, France and Italy. Europe is the second biggest market in terms of market share across the globe. The spread of analytics and awareness of its potential are increasing at a rapid rate in Europe. In the European region, Germany heads the largest number of clinical trials due to minimum R&D costs involved when compared to other markets.
Chiltern, Omnicare, PPD, Parexel, Kendle, Quintles, ICON Plc, and Charles River, are the major players of Europe Clinical Trial market.
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