Asia Pacific Clinical Trials Market Size & Outlook
Asia Pacific clinical trials market, 2018-2030 (US$M)
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Asia Pacific clinical trials market highlights
- The Asia Pacific clinical trials market generated a revenue of USD 15,913.6 million in 2023.
- The market is expected to grow at a CAGR of 7.3% from 2024 to 2030.
- In terms of segment, phase iii was the largest revenue generating phase in 2023.
- Phase I is the most lucrative phase segment registering the fastest growth during the forecast period.
- Country-wise, South Korea is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 15,913.6 million |
| Market revenue in 2030 | USD 25,992.8 million |
| Growth rate | 7.3% (CAGR from 2023 to 2030) |
| Largest segment | Phase iii |
| Fastest growing segment | Phase I |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Phase I, Phase II, Phase III, Phase IV |
| Key market players worldwide | Thermo Fisher Scientific Inc, Icon PLC, Charles River Laboratories International Inc, IQVIA Holdings Inc, Syneos Health, SGS AG, PAREXEL, Wuxi AppTec Co Ltd, Labcorp Holdings Inc, Eli Lilly and Co, Novo Nordisk A/S ADR, Pfizer Inc, Caidya |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 19.7% of the global clinical trials market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 25,992.8 million by 2030.
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Clinical Trials Market Scope
Clinical Trials Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific clinical trials market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to clinical trials market will help companies and investors design strategic landscapes.
Phase iii was the largest segment with a revenue share of 53.19% in 2023. Horizon Databook has segmented the Asia Pacific clinical trials market based on phase i, phase ii, phase iii, phase iv covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific is the fastest-growing market, as many developed economies are outsourcing clinical trials to countries such as India, China, and South Korea. The evolving business model of outsourcing and R&D activities among key global companies is expected to increase clinical trial services demand in the region, owing to the cost efficiency offered by CROs in countries such as India and China.
In addition, the presence of multinational pharmaceutical/biopharmaceutical companies & CROs in the region, and the higher cost-efficiency of conducting clinical trials compared to the U.S. and European countries are creating growth opportunities in the market.
Governments are undertaking efforts to drive the clinical trials market. In addition, APAC hosts a growing pool of scientific & development expertise, enabling rapid adoption of advanced technologies & quality clinical outsourcing services.
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Target buyers of Asia Pacific clinical trials market databook
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Our clientele includes a mix of clinical trials market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific clinical trials market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific clinical trials market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific clinical trials market size, by country, 2018-2030 (US$M)
Asia Pacific Clinical Trials Market Outlook Share, 2023 & 2030 (US$M)
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