Clinical Research & Trails

A clinical trial is part of clinical research that follows a regulated protocol or plan of action. They are primarily conducted to obtain data on the safety and efficacy of a newly developed drug, these data is mandatory for the further approval of the drug and its marketing.

The clinical trials market was estimated to reach USD 14.2 billion in 2016 and is expected to reach approximately USD 22 billion by 2021, growing at a CAGR (compound annual growth rate) of 7.5% during the forecast period 2016 to 2021 . Globalization of clinical trials, development of new treatments such as personalized medicine, expanding developments in technology, and increasing demand for CROs to conduct clinical trials are the key drivers influencing market growth. Clinical trials may be sponsored or funded by pharmaceutical companies, academic medical centers, voluntary groups, and other organizations, in addition to federal agencies such as the National Institutes of Health, the US Department of Defense, and the US Department of Veterans Affairs. . Physicians, other health care providers, and other individuals may also sponsor clinical research.

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