Growth phase: Increased private and government investment will support revenue

In recent years, the strength of commercial profit growth has stimulated greater private investment in clinical trials, benefiting the Clinical Trial Support Services industry and increasing its reliance on the private sector. Meanwhile, government austerity measures hurt industry revenue as the federal government sought to reduce debt. Nonetheless, strong investment in clinical studies for oncology and medical devices, as well as increased requirements for trial registration, have helped boost demand for clinical trial support services. Over the next five years, the Clinical Trial Support Services industry is expected to maintain growth, benefiting from greater stability due to consistent funding from private and public sources...purchase to read more.

Industry Statistics & Market Size
Revenue
$1bn
Annual Growth 12-17
6.5%
Forecast Growth 17-22
Profit
Employment
6,268
Businesses
1,111
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Stronger corporate profit has stimulated greater private investment in clinical trials
  • Medical technology has been led by improvements in in-vitro diagnostics
  • Government funding for R&D in medical fields is expected to continue expanding
  • Industry Report - Industry Locations Chapter

    The location of establishments in the Clinical Trial Support Services industry is affected by a number of factors, chief among them government funding, the location of major research universities and the proximity of downstream private enterprises. Other factors affecting geographic distribution include overall population trends and accessibility of high-skilled labor.The location of industry establishments is highly concentrated in the West, Mid-Atlantic and Southeast regions. The West has the highest share of industry establishments, accounting for an estimated 23.8% of all industry establishments, significantly higher than its 17.3% share of the population. California alone accounts for nearly 18.3% o...purchase to read more.

    Additional Insights for the Clinical Trial Support Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Clinical Trial Support Services Industry are

  • Ability to quickly adopt new technology
  • Access to highly skilled workforce
  • Ability to vary services to suit different needs
  • IBISWorld analysts also discuss how external factors such as Research and development expenditure and Federal funding for Medicare and Medicaid in the Clinical Trial Support Services industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What's in this report

    What is the Clinical Trial Support Services Industry?

    Companies in this industry provide medical clinical trial services. Typically, industry operators provide preclinical trial preparation work, track and record results and prepare data for regulatory submission and data storage.

    Industry Products
  • Drug clinical trials
  • Behavioral clinical trials
  • Medical device clinical trials
  • Surgical procedure clinical trials
  • Industry Activities
  • Preparation of medical clinical trial services
  • Tracking and recording results and data
  • Preparing data and information for regulatory submission
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Research and development expenditure
  • Federal funding for Medicare and Medicaid
  • Number of people with private health insurance
  • Government funding for universities
  • Prime rate

  • Current Performance
  • Funding sources
  • Leading growth areas
  • Trial registration and industry expansion
  • Chart: Revenue Growth

  • Industry Outlook
  • Funding stability improves
  • Growth areas
  • Profitability and industry structure
  • Table: Clinical Trial Support Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Clinical Trial Support Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Brand Name Pharmaceutical Manufacturing
  • Generic Pharmaceutical Manufacturing
  • Medical Device Manufacturing
  • Medical Instrument & Supply Manufacturing

  • Key Selling Industries
  • Chemical Product Manufacturing
  • Computer & Packaged Software Wholesaling
  • Computer Stores
  • Medical Instrument & Supply Manufacturing

  • Products & Services
  • Drug clinical trials
  • Behavioral clinical trials
  • Medical device clinical trials
  • Surgical procedure clinical trials
  • Chart: Clinical Trial Support Services Industry Products and Services Segmentation

  • Demand Determinants
  • Outsourcing
  • Research and development (R&D) spending
  • Demographic trends

  • Major Markets
  • Federal government
  • Universities and colleges
  • Commercial corporations
  • State and local governments
  • Nonprofits
  • Chart: Major Market Segmentation for the Clinical Trial Support Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases and depreciation
  • Rent and utilities
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Clinical Trial Support Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Clinical Trial Support Services Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Clinical Trial Support Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Clinical Trial Support Services Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Research and development expenditure (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    In-Vitro Diagnostics
  • Tests that can detect diseases, infections or other conditions.
  • Oncology
  • A branch of medicine that deals with tumors and cancer treatment.
  • Patent Cliff
  • An abrupt expiration in a number of patents with large sales.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Clinical Trial Support Services can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Clinical Trial Support Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Clinical Trial Support Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Clinical Trial Support Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Contact Us

    Want to speak to a representative? Call us.

    clear