Australia Clinical Trials Market Size & Outlook, 2023-2030
Australia clinical trials market, 2018-2030 (US$M)
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Australia clinical trials market highlights
- The Australia clinical trials market generated a revenue of USD 1,783.6 million in 2023 and is expected to reach USD 2,965.1 million by 2030.
- The Australia market is expected to grow at a CAGR of 7.5% 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.
Clinical trials market data book summary
| Market revenue in 2023 | USD 1,783.6 million |
| Market revenue in 2030 | USD 2,965.1 million |
| Growth rate | 7.5% (CAGR from 2023 to 2030) |
| Largest segment | Phase iii |
| Fastest growing segment | Phase I |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Australia accounted for 2.2% of the global clinical trials market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China clinical trials market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,675.0 million by 2030.
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Clinical Trials Market Scope
Clinical Trials Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Australia 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 52.91% in 2023. Horizon Databook has segmented the Australia 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.
The Australia clinical trials market is anticipated to grow gradually over the forecast period due to presence of multinational companies & their subsidiaries, superior clinical research & healthcare infrastructure, and skilled research capabilities.
Such actions are likely to promote discovery activities in the country, thus promoting the market in Australia. Moreover, the clinical trials services in the country are likely to promote the Australian clinical trials market.
For instance, in November 2023, the Global Coalition for Adaptive Research and Cure Brain Cancer Foundation collaborated to launch a glioblastoma adaptive global innovative learning environment trial in Australia.
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Target buyers of Australia 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 country-level data and insights on the Australia clinical trials market , including forecasts for subscribers. This country databook contains high-level insights into Australia clinical trials market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia clinical trials market size, by phase, 2018-2030 (US$M)
Australia Clinical Trials Market Outlook Share, 2023 & 2030 (US$M)
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