Asia Pacific Clinical Trial Services Market Bwc20084
Asia-Pacific clinical trial services Market By Phase (Phase I, Phase II, Phase III, Phase IV), By Application (Cancer, Cardiovascular, CNS, Infectious Disease, Metabolic Disease, Others), By Product (Pharmaceuticals, Biologics, Medical Devices, Others), By End User (CRO, Pharmaceutical & Biotech Companies), By Region (China, Japan, India, Australia, Thailand, Singapore, Indonesia, Rest of Asia-Pacific); Trend Analysis, Competitive Market Share & Forecast, 2016-26
- Published Date: July 2020
- Report ID: BWC20084
- Available Format: PDF
- Page: 121
Report Overview
Asia-Pacific clinical trial services
Market Forecast and Trends
Asia-Pacific
Clinical Trail Services Market gained rapid growth in recent years, and it is
expected to grow at a CAGR of over 9.08% in the forecast period 2019-2026, and
expected to reach at USD 6.8 Billion by 2025. on account of raising health
concerns, increase in population and moreover change in new regulatory changes
across the region are further expected to surge the demand for Clinical Trail
Services market in the region.
The increasing prevalence of
life-threatening allergic diseases is also estimated to fuel market growth.
Developing a new drug or therapy is an extensive process that takes
approximately ten years before it hits the market for official usage, while the
significant risk is associated with every step. In addition, government
initiative has also motivated many players in the market to initiate orphan
drug development. Thus, there are various drugs in the pipeline. There is a
considerable sum of money invested in bringing one successful medicine in the
market for patient use, and with each phase of the clinical trial, there is a
chance of failure and losing all the money. Rising healthcare expenditure and
collaborations for R&D activities are also expected to be other significant
factors driving the market for clinical trial services in the forecasting years.
Clinical trial services Market: Overview
Clinical
trials are tests or clinical-research findings. CROs offer a variety of
clinical trial programs and conduct several additional operations. Sponsors of
drug development research, such as pharmaceutical and biotechnology companies,
rely on CROs to help reduce costs and speed the process of bringing a drug to
market. This prospective biomedical or behavioral research studies on human
subjects are designed to answer specific questions about biomedical or
behavioral therapies, including new treatments (such as innovative vaccines,
medications, dietary choices, dietary supplements, and medical devices) and
existing interventions that require further analysis and comparison. Most
clinical trials include healthy subjects that do not have pre-existing
conditions. Other clinical trials involve people with specific health
conditions willing to try an experimental treatment.
Growth
Drivers
Growing Investments in R&D sector by
Pharmaceutical Companies.
Pharmaceutical drug discovery and advancement
have grown increasingly over the years. The pharmaceutical industry has one of the
biggest R&D intensity measures of any sector worldwide, indicating that
R&D persists at the core of innovation. Additionally, change in regulations
around generic approvals will help companies increase penetration in the
markets, which will improve the R&D.
Increase in technology
up-gradation
The technologies
and data are at the forefront of the decision making process for clinical trial
services. With advances in technology and the growing demand for better drugs
with fewer side-effects, the number of clinical trial services performed is
increasing. With the developments in new technologies and the rise of online
communities, the pharmaceutical and biotech industries are poised to outsource
these innovations in order to re-invent current clinical trial services
processes and supply chains in the developing economies.
Restraint
High Cost of Drug Discovery and Development
High Cost of Drug Discovery and Development is
hindering the clinical trial services market across the region. It is found that hospital budget pressures resulting from the continued
dramatic increases in drug prices have negative impacts on patient care, with
hospitals being forced to delay infrastructure investments, reduce staffing,
and identify alternative therapies.
Clinical
trial services Market: Phase
Based on phase, the clinical trial services are segmented into Phase I, Phase II, Phase III, Phase IV. Phase III is estimated to dominating the market during the forecast period of 2020-2026 and has a lucrative growth across the region. As phase III is associated with the high cost and number of subjects, several complexities are observed for getting approval in phase III candidates.
Clinical
trial services Market: Application
Based
on application, the clinical trial services are segmented into Cancer,
Cardiovascular, CNS, Infectious Disease, Metabolic Disease, Others. The
oncology segment is projected to dominate the market and has lucrative growth
during the forecast period of 2026 due to the growing and aging population in
markets. In addition, increase in disposable income, a boom in the medical
technology sector, and an increase in demand for cancer treatment, increased
purchasing power and access to quality healthcare and pharmaceuticals for poor
and middle-class families worldwide are also driving the growth of the global
oncology industry. Another factor that leads this development is growing
attention of pharmaceutical companies to tap into the demand for rare and
specialty disease is Innovations in advanced biologics, therapeutics of nucleic
acids, cell therapies, and bioelectronics & implantable have attracted
investments in the industry that drive the development.
Clinical trial services Market: Product
Based
on the product, the clinical trial services market is segmented into Pharmaceuticals,
Biologics, Medical Devices, Others. Pharmaceuticals segment is estimated to dominate the market and is estimated to
grow at a significant CAGR during the forecast period of 2026 across the region
due to rising trend of R&D in pharmaceuticals companies by the government
to developing the new drugs and to check the effectiveness of the drugs, which
is fueling the growth of pharmaceuticals segment.
Clinical trial services Market: End User
Based
on end-user, the clinical trial services are segmented into CRO,
pharmaceutical & Biotech Companies. CRO segment is expected to have the
fastest growth due to the growing interest of drug producers in outsourcing
their clinical trials to the CROs. In addition, the pharmaceutical segment is
dominating the market across the region. They have the necessary expertise and
infrastructure that simultaneously delivers the advantage of expense, time, and
performance. According to the Association of Clinical Research Organization,
more than 50% of CROs conduct outsourced clinical study work for the
pharmaceutical industry, 27 percent for the biotech industry, and the remainder
for the medical device industry, foundations, and governments. Preferred for
outsourcing operations for CRO’s are emerging economies such as Japan, India,
and China.
Clinical trial services Market: Regional
Insights
Based
on the region, the clinical trial services market is segmented into China,
Japan, India, Australia, Thailand, Singapore, Indonesia, Rest of Asia-Pacific. Followed
by Australia, Singapore, China and India is the fastest-growing market and is
anticipated to dominating the market across the region during the forecast
period of 2020-2026 due to favorable regulatory conditions, aging populations,
a rapidly growing middle class, and increased market access Singapore and
Japan, the IPR and legal framework are the strongest in the world with limited
legal hassles in hiring patients for clinical trials. In addition, due to the
strict regulations for the importation of clinical materials, clinical material
and product end-users are likely to increase their domestic presence in those
countries.
Clinical trial services Market:
Competitive Landscape
The major market players in the clinical trial services market are AQVIA, Thermo Fisher Scientific Inc., Catalent Inc., PCI Pharma Services, Almac Group, Bionical Ltd, KLIFO, Alium Medical Limited, MYODERM, Ancillare, LP, and Other Prominent Players are expanding their presence in the market by implementing various innovations and technology.
Recent Developments:
Ø In February 2020, IQVIA Launches
FluSTAR Mobile App to Help Consumers Manage Their Health During Flu and Cold
Season.
Ø In September 2019, IQVIA MedTech Launches Enhanced EQMS including EU MDR Support.
The objective of the Study:
Ø To analyze and
forecast the Asia-Pacific clinical trial services market size of the market, in
terms of value.
Ø To examine the
careful market segmentation and forecast the market size, in terms value, based
on the region by segmenting the Asia-Pacific clinical trial services market
into five regions, namely, China, Japan, India, Australia, Thailand, Singapore,
Indonesia, Rest of Asia-Pacific.
Ø To outline,
categorized and forecast the Asia-Pacific clinical trial services market based
on the phase, application, product, end-user and region.
Ø To examine
competitive developments like technological advancement, services, and
regulative framework within the Asia-Pacific clinical trial services Market.
Ø To highlight the
impact analysis of the factors, affecting the market dynamics such as drivers,
restraints, opportunities, and challenges.
Ø To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
Scope of the Report
Attribute |
Details |
Years Considered |
Historical data – 2016-2019 |
Base Year – 2019 |
|
Forecast – 2020 – 2026 |
|
Facts Covered |
Revenue in USD Billion |
Market Coverage |
China, Japan, India,
Australia, Thailand, Singapore, Indonesia, Rest of Asia-Pacific |
Product/Service Segmentation |
By Phase, By Application,
By Product, By End-User, and Region |
Key Players |
AQVIA, Thermo Fisher
Scientific Inc., Catalent Inc., PCI Pharma Services, Almac Group, Bionical
Ltd, KLIFO, Alium Medical Limited, MYODERM, Ancillare, LP, and Other
Prominent Players |
Ø Phase I
Ø Phase II
Ø Phase III
Ø Phase IV
By Application
Ø Cancer
Ø Cardiovascular
Ø CNS
Ø Infectious Disease
Ø Metabolic Disease
Ø Others
By Product
Ø Pharmaceuticals
Ø Biologics
Ø Medical Devices
Ø Others
By End User
Ø CRO
Ø Pharmaceutical
& Biotech Companies
By Region:
Ø China
Ø Japan
Ø India
Ø Australia
Ø Thailand
Ø Singapore
Ø Indonesia
Ø Rest of
Asia-Pacific
SCOPE
1.
Research Framework
1.1. Research
Objective
1.2. Phase Overview
1.3. Market
Segmentation
2. Research
Methodology
2.1. Qualitative
Research
2.1.1.
Primary & Secondary Sources
2.2. Quantitative
Research
2.2.1.
Primary & Secondary Sources
2.3. Breakdown
of Primary Research Respondents, By Region
2.3.1.
Secondary Research
2.3.2.
Primary Research
2.4. Breakdown
of Primary Research Respondents
2.5. Market
Size Estimation
2.6. Assumption
for the Study
2.7. Market
Breakdown & Data Triangulation
3. Executive
Summary
4. Asia-Pacific Clinical
Trial Services Industry Insights
4.1. Industry Value
Chain Analysis
4.2. DROC Analysis
4.2.1.
Growth Drivers
4.2.2.
Restraints
4.2.3.
Opportunities
4.2.4.
Challenges
4.3. Technological
Landscape
4.4. Regulatory
Framework
4.5. Company market
share analysis,2018
4.6. Porter’s Five
forces analysis
4.6.1.
Bargaining Power of Suppliers
4.6.2.
Bargaining Power of Buyers
4.6.3.
Threat of New Entrants
4.6.4.
Threat of Substitutes
4.6.5.
Intensity of Rivalry
4.7.PESTEL Analysis
4.8.Strategic Outlook
5. Asia-Pacific Clinical
Trial Services Market
Overview
5.1.Market Size &
Forecast 2015-2025
5.1.1.
By Value (USD)
5.2.Market Share &
Forecast
5.2.1.
By Phase
5.2.1.1.
Phase I
5.2.1.2.
Phase II
5.2.1.3.
Phase III
5.2.1.4.
Phase IV
5.2.2.
By Application
5.2.2.1.
Cancer
5.2.2.2.
Cardiovascular
5.2.2.3.
CNS
5.2.2.4.
Infectious Disease
5.2.2.5.
Metabolic Disease
5.2.2.6.
Others
5.2.3. By Product
5.2.3.1. Pharmaceuticals
5.2.3.2. Biologics
5.2.3.3. Medical Devices
5.2.3.4. Others
5.2.4. By End-User
5.2.4.1. CRO
5.2.4.2. Pharmaceutical & Biotech Companies
5.2.5. By Region
5.2.5.1. China
5.2.5.2. Japan
5.2.5.3. India
5.2.5.4. Australia
5.2.5.5. Thailand
5.2.5.6. Singapore
5.2.5.7. Indonesia
5.2.5.8. Rest of Asia-Pacific
6. Company Profile (Company Overview, Financial Matrix, Key Phase landscape,
Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
6.1.
AQVIA
6.2.
Thermo Fisher Scientific Inc.
6.3.
Catalent Inc.
6.4.
PCI Pharma Services
6.5.
Almac Group
6.6.
Bionical Ltd
6.7.
KLIFO
6.8.
Alium Medical Limited
6.9.
MYODERM
6.10.
Ancillare, LP
6.11.
Other Prominent Players
List of Figures:
Asia-Pacific
Clinical Trial Services Segmentation
Fig:
Asia-Pacific Clinical Trial Services Market Value Chain Analysis
Fig:
Company Market Share Analysis, 2019
Fig:
Asia-Pacific Clinical Trial Services Market Size, By Value (USD Million),
2016-2026
Fig:
Asia-Pacific Clinical Trial Services Market Share, By Phase, By Value,
2016-2026
Fig:
Asia-Pacific Clinical Trial Services Market Share, By Application, By Value,
2016-2026
Fig:
Asia-Pacific Clinical Trial Services Market Share, By Product, By Value,
2016-2026
Fig:
Asia-Pacific Clinical Trial Services Market Share, By End-User, By Value,
2016-2026
Fig:
Asia-Pacific Clinical Trial Services Market Share, By Region, By Value,
2016-2026
Fig:
China Clinical Trial Services Market Size, By Value (USD Million), 2016-2026
Fig:
China Clinical Trial Services Market Y-o-Y Growth, By Value, 2017-2026
Fig:
China Clinical Trial Services Market Share, By Phase, By Value, 2016-2026
Fig:
China Clinical Trial Services Market Share, By Application, By Value, 2016-2026
Fig:
China Clinical Trial Services Market Share, By Product, By Value, 2016-2026
Fig:
China Clinical Trial Services Market Share, By End-User, By Value, 2016-2026
Fig:
China Clinical Trial Services Market Share, By Country, By Value, 2016-2026
Fig:
Japan Clinical Trial Services Market Size, By Value (USD Million), 2016-2026
Fig:
Japan Clinical Trial Services Market Y-o-Y Growth, By Value, 2017-2026
Fig:
Japan Clinical Trial Services Market Share, By Phase, By Value, 2016-2026
Fig:
Japan Clinical Trial Services Market Share, By Application, By Value, 2016-2026
Fig:
Japan Clinical Trial Services Market Share, By Product, By Value, 2016-2026
Fig:
Japan Clinical Trial Services Market Share, By End-User, By Value, 2016-2026
Fig:
Japan Clinical Trial Services Market Share, By Country, By Value, 2016-2026
Fig:
India Clinical Trial Services Market Size, By Value (USD Million), 2016-2026
Fig:
India Clinical Trial Services Market Y-o-Y Growth, By Value, 2017-2026
Fig:
India Clinical Trial Services Market Share, By Phase, By Value, 2016-2026
Fig:
India Clinical Trial Services Market Share, By Application, By Value, 2016-2026
Fig:
India Clinical Trial Services Market Share, By Product, By Value, 2016-2026
Fig:
India Clinical Trial Services Market Share, By End-User, By Value, 2016-2026
Fig:
India Clinical Trial Services Market Share, By Country, By Value, 2016-2026
Fig:
Australia Clinical Trial Services Market Size, By Value (USD Million),
2016-2026
Fig:
Australia Clinical Trial Services Market Y-o-Y Growth, By Value, 2017-2026
Fig:
Australia Clinical Trial Services Market Share, By Phase, By Value, 2016-2026
Fig:
Australia Clinical Trial Services Market Share, By Application, By Value,
2016-2026
Fig:
Australia Clinical Trial Services Market Share, By Product, By Value, 2016-2026
Fig:
Australia Clinical Trial Services Market Share, By End-User, By Value,
2016-2026
Fig: Australia Clinical Trial Services Market Share, By Country, By Value, 2016-2026
*Financial Details
will be captured as per data availability in case of unlisted companies
**The segmentation and the companies are subjected to
modifications based on the in-depth secondary for the final deliverable.
Market Segmentation
By Phase
Ø Phase I
Ø Phase II
Ø Phase III
Ø Phase IV
By Application
Ø Cancer
Ø Cardiovascular
Ø CNS
Ø Infectious Disease
Ø Metabolic Disease
Ø Others
By Product
Ø Pharmaceuticals
Ø Biologics
Ø Medical Devices
Ø Others
By End User
Ø CRO
Ø Pharmaceutical & Biotech Companies
By Region:
Ø China
Ø Japan
Ø India
Ø Australia
Ø Thailand
Ø Singapore
Ø Indonesia
Ø Rest of Asia-Pacific
To request a free sample copy of this report, please complete the form below.
We value your investment and offer free customization with every report to fulfil your exact research needs.
RELATED REPORTS
WHY CHOOSE US
-
24/7 Research support
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
-
Coustom Research Service
Ask the Analyst to customize an exclusive study to serve your research needs
-
Quality & Accuracy
Ask the Analyst to customize an exclusive study to serve your research needs
-
Data Visualization
As the business world is changing dynamically every day. We need to stay pin point in relation to data management and optimum data utilization
-
Information security
We never share your personal and confidential information. Your personal information is safe and secure with us.