U.S. Clinical Trials Support Services Market - Focused Insights 2023-2028

The Clinical Trial Support Services Market is experiencing a notable surge, propelled by various factors. Key among these are the rise in R&D endeavors, increased prevalence of chronic diseases, and growing adoption of these services. Technological advancements, new service offerings, and an established healthcare infrastructure further catalyze the market's trajectory.

Pharma & biotech companies dominate the end-user segment, holding a 66.32% share in 2022, a testament to their increasing R&D investments. On the application front, cancer-related trials are at the forefront, constituting a 33.64% share in 2022. This growth can be credited to the burgeoning cancer incidence rates and the swelling demand for relevant clinical trials.

Interestingly, there's been a discernible uptick in clinical trials recently. As evidenced by data from ClinicalTrials.gov, clinical trials soared from 325,773 in 2020 to a whopping 410,903 by April 2022. This, in turn, has sparked demand for Site Management Organizations (SMOs). Additionally, the digital revolution is making its presence felt, with Clinical Trial Management Systems (CTMS) coming to the fore, streamlining processes and boosting efficiency.

The market's geographical landscape is equally compelling. The US, backed by its R&D might, is at the epicenter of this market expansion. A testament to this is the escalating R&D expenditure by pharma giants like Roche, Johnson & Johnson, and Pfizer. Concurrently, the clinical trial landscape is becoming increasingly competitive, teeming with innovative players keen on carving a niche. Companies like IQVIA Inc., Charles River Laboratories, and Labcorp are already leading the pack.

The US Clinical Trial Support Services Market is burgeoning, driven by technological innovation, heightened R&D initiatives, and a rising demand for these specialized services. Strategic alliances and investments by industry titans further accentuate the market's vibrancy. The trajectory suggests a promising future, replete with opportunities and innovations.

KEY HIGHLIGHTS

• In the US, the clinical trial support services market was valued at $7.43 billion in 2022 and is expected to reach $10.44 billion by 2028, growing at a CAGR of 5.84%. The demand for clinical trial support services market is on the rise due to multiple factors, including surge in R&D activities, high prevalence of chronic diseases, adoption of clinical trial support services, among others.
• By Service type, the site management systems accounted for the highest share. The increasing demand for site management system is due to the rising disease burden, increasing prevalence of chronic diseases, and increasing number of clinical trials.
• By Phase, the Phase III segment is projected to grow at the highest CAGR of 6.19% during the forecast period. The rise in number of clinical trials, high prevalence of chronic diseases, among others is expected to contribute the growth of the overall clinical trial support services market.
• In End-user type, the pharma & biotech companies segment accounted for the highest share of more than 66% in 2022. The high prevalence of chronic diseases, and increasing R&D expenditure by pharma & biotech companies will drive the growth of the market
• By Application, the cancer segment is projected to grow at the highest CAGR of 6.14% during the forecast period. The rising prevalence of cancer conditions, demand for clinical trials and constant increase in cancer patients are some of the factors that propel the segment growth.
• Charles River Laboratories, IQVIA Inc, Icon plc, Labcorp Drug Development and Syneos Health are some of the leading players currently dominating the US clinical trial support services market. The major players focus on strategic acquisitions, collaborations with emerging players to enter the clinical trial support services market.