Clinical Trials Market worth $52.0 billion by 2026

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The clinical trials market is projected to
reach USD 52.0 billion by 2026 from USD 38.7
billion in 2021, at a CAGR of 6.1 during the
forecast period.
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Laboratory services segment accounted for
the largest share of the clinical trials
market Based on service type, the clinical
trials market is segmented into protocol
designing, site identification, patient
recruitment, laboratory services, bioanalytical
testing, analytical testing, clinical trial
supply logistic services, decentralized
clinical services, clinical trial data management
services, medical device testing services, and
other services. Laboratory services is the
leading segment of clinical trial services
market, this can be attributed to the increasing
preference of clinical research professionals to
outsource such services. Among all the aspects of
conducting clinical trials (such as protocol
designing, site identification, and patient
recruitment, among others), laboratory services
have witnessed comparatively high outsourcing
rates in the past few years, thus contributing to
the growth of this segment.
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Oncology segment accounted for the largest
share of the clinical trials market Based on the
therapy area, the clinical trials market is
segmented into oncology, infectious diseases,
cardiology, neurology, womens health, genetic
diseases, immunology, and other therapeutic
areas. The large share of oncology segment is
primarily attributed to the increasing number of
drug discovery activities for oncology and the
rising prevalence of cancer worldwide.
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Small molecules segment
accounted for the largest share of clinical
trials market The clinical trials market
is segmented into small molecules, vaccines, cell
gene therapy, and others based on application.
Small molecules is the key driver of the clinical
trials application market, regardless of the
synthetic method and materials used, small
molecules are able to retain their chemical
identity as opposed to sensitive biologics
candidates, which has contributed to the robust
demand for small molecule drug candidates. The
majority of the patented drugs marketed in the
past five years have been small molecules and
generics of these patented drugs.