The global clinical trial services market, valued at USD 60.76 billion in 2024, is forecasted to grow at a robust CAGR of 8.9%, reaching USD 66.59 billion in 2025 and an impressive USD 101.86 billion by 2030. Factors such as the growing focus on patient-centric clinical trials such as Decentralized Clinical trials (DCTs) and the increasing number of clinical trials for precision/personalized medicines are supporting the growth of this market. Moreover, the upcoming therapeutic drugs patent cliff is propelling major pharmaceutical companies to heavily invest in R&D and outsource their clinical trial service. Additionally, CROs offer service flexibility which enables sponsors to modify their outsourcing strategies and optimize costs by paying only for required resources and expertise. Additionally, the rise in pediatric clinical trials for various therapeutic drugs and increasing pressure from regulatory bodies to conduct diversified clinical trials offer growth opportunities for CROs offering these specialized services. However, challenges associated with the cybersecurity of patient data and sponsors’ intellectual properties, and patient retention during trials hinder the growth of the market to a certain extent.
By based on modality, the clinical trial services market is divided into small molecules, biologics, and medical devices. The large share of the small molecules clinical trial segment can be attributed to the established role of these drug modalities in drug development across various therapeutic areas. Small molecules have a high oral bioavailability, making them more convenient for patients compared to biologics. Additionally, pharmaceutical companies continue to invest in small molecule research due to their cost-effectiveness, stability, and ability to target intracellular pathways, maintaining their dominance in clinical trials.
By on therapy area, the clinical trial services market is segmented into oncology, neurology, infectious diseases, cardiovascular system (CVS) disorders, metabolic disorders/endocrinology, immunological disorders, respiratory disorders, psychiatry, dermatology, hematology, ophthalmology, gastrointestinal diseases, genitourinary & women’s health, and other therapeutic areas. The oncology segment accounted for the largest share of the clinical trial services market by therapy area in 2024. The large share of this segment is attributed to the increase in global cancer cases due to aging populations and lifestyle factors, supported by rising demand for new treatments. For this reason, pharmaceutical companies are increasingly investing and collaborating with CROs to develop advanced oncology drugs. This dominance is expected to continue throughout the forecast period as major players are developing new technologies for better oncology treatment.
By geography, the clinical trial services market is divided into six regions, North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2024, North America held the largest share of the clinical trial services market, followed by Europe. Aisa Pacific registered the highest CAGR growth within the clinical trial services market during the forecast period owing to its large patient population, high prevalence of chronic and infectious diseases, and increasing focus on developing biologics, biosimilars, and advanced therapies. Global pharmaceutical companies are increasingly relocating manufacturing and clinical research to the region to leverage cost benefits, regulatory advancements, and improved patient retention in trials. Additionally, government support and rising investments in clinical research have further accelerated the outsourcing of clinical trial activities to APAC. MarketsandMarkets