Colombia Clinical Trials Market Size & Outlook, 2023-2030
Colombia clinical trials market, 2018-2030 (US$M)
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Colombia clinical trials market highlights
- The Colombia clinical trials market generated a revenue of USD 162.8 million in 2023 and is expected to reach USD 257.9 million by 2030.
- The Colombia market is expected to grow at a CAGR of 6.8% 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 162.8 million |
| Market revenue in 2030 | USD 257.9 million |
| Growth rate | 6.8% (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, Colombia accounted for 0.2% 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 Latin America, Brazil clinical trials market is projected to lead the regional market in terms of revenue in 2030.
- Argentina is the fastest growing regional market in Latin America and is projected to reach USD 506.1 million by 2030.
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Clinical Trials Market Scope
Clinical Trials Market Companies
| Name | Profile | # Employees | HQ | Website |
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Colombia 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 Colombia 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.
Although Colombia has the potential to become a regional leader & a key worldwide competitor in clinical research, it lags behind its regional competitors. In addition, the country has a strong clinical trials industry with strict regulations that require clinical research centers to be certified by INVIMA.
Hence, the government of Colombia & DRA INVIMA have dedicated efforts to improve the clinical research environment to international standards & enhance its relative attractiveness with new research centers & hospitals.
Reasons to subscribe to Colombia clinical trials market databook:
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Target buyers of Colombia 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 Colombia clinical trials market , including forecasts for subscribers. This country databook contains high-level insights into Colombia clinical trials market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Colombia clinical trials market size, by phase, 2018-2030 (US$M)
Colombia Clinical Trials Market Outlook Share, 2023 & 2030 (US$M)
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