Canada Clinical Trials Market Size & Outlook, 2023-2030
Canada clinical trials market, 2018-2030 (US$M)
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Canada clinical trials market highlights
- The Canada clinical trials market generated a revenue of USD 2,162.6 million in 2023 and is expected to reach USD 2,862.6 million by 2030.
- The Canada market is expected to grow at a CAGR of 4.1% 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 2,162.6 million |
| Market revenue in 2030 | USD 2,862.6 million |
| Growth rate | 4.1% (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, Canada accounted for 2.7% 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 North America, U.S. clinical trials market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 57,785.1 million by 2030.
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Clinical Trials Market Scope
Clinical Trials Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada 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 52.28% in 2023. Horizon Databook has segmented the Canada 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 country supports its clinical trials landscape through major investments by the government and various contracts received by global players. In addition, the country is recognized as the G7 leader in clinical trial efficiency, showcasing its high level of efficiency & effectiveness in conducting clinical trials relative to its population size.
Health Canada, the regulatory body of Canada responsible for public health, supports and encourages investment in clinical development & manufacturing of pharmaceutical & biopharmaceutical products.
Therefore, multinational pharmaceutical companies conduct a substantial portion of their clinical trials in Canada, as the country has a world-class clinical trial environment, leveraging the pipeline of promising treatments. The country is a favorable location for clinical trials, owing to the possibility of gaining an R&D tax credit if a company complies with the authority's defined criteria.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Canada clinical trials market , including forecasts for subscribers. This country databook contains high-level insights into Canada clinical trials market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada clinical trials market size, by phase, 2018-2030 (US$M)
Canada Clinical Trials Market Outlook Share, 2023 & 2030 (US$M)
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