Middle East & Africa Clinical Trials Market Size & Outlook
Middle East & Africa clinical trials market, 2018-2030 (US$M)
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MEA clinical trials market highlights
- The MEA clinical trials market generated a revenue of USD 1,193.6 million in 2023.
- The market is expected to grow at a CAGR of 6.1% 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.
- Country-wise, South Africa is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 1,193.6 million |
| Market revenue in 2030 | USD 1,811.9 million |
| Growth rate | 6.1% (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, MEA region accounted for 1.5% 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 |
|---|
Middle East & Africa 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 53.01% in 2023. Horizon Databook has segmented the Middle East & Africa 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.
South Africa, Saudi Arabia, the UAE, and Kuwait constitute the MEA market. A number of companies in the region are innovating patient diversity, cost advantage, infrastructure, and world-class medical facilities.
The region has much to offer with its untapped market for clinical trials with expanding pharmaceutical, biopharmaceutical, and medical devices companies. In addition, the number of CROs in the region has been experiencing an upsurge in the past years.
The country's attractive incentive policies have pulled big pharmaceutical companies, such as Pfizer, AstraZeneca, and Amgen. The country has expended a large amount of money to attract companies to Dubai Healthcare City and DuBiotech.
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Target buyers of Middle East & Africa 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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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa clinical trials market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa clinical trials market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA clinical trials market size, by country, 2018-2030 (US$M)
Middle East & Africa Clinical Trials Market Outlook Share, 2023 & 2030 (US$M)
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