Saudi Arabia Clinical Trials Market Size & Outlook
Saudi Arabia clinical trials market, 2018-2030 (US$M)
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Saudi Arabia clinical trials market highlights
- The Saudi Arabia clinical trials market generated a revenue of USD 51.6 million in 2023 and is expected to reach USD 77.8 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 6% 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 51.6 million |
| Market revenue in 2030 | USD 77.8 million |
| Growth rate | 6% (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, Saudi Arabia accounted for 0.1% 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 Middle East & Africa, South Africa clinical trials market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 495.5 million by 2030.
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Clinical Trials Market Scope
Clinical Trials Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia 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 Saudi Arabia 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.
Saudi Arabia has the beneficial clinical trial market in the Middle East. The country's market growth can be attributed to the largest number of hospitals, growing incidences of oncology & infectious diseases, and the presence of primary health centers.
Furthermore, growing trial awareness is expected to further boost the demand for recruitment and retention services in Saudi Arabia. As a result, clinical trials are gaining importance in Saudi Arabia for innovating medication and devices for the treatment of various disorders.
Moreover, major upcoming projects aim at developing hospitals such as King Khaled Medical City, King Faisel Medical City, and King Abdullah Medical City, which are expected to give research facilities. This expansion is expected to open new avenues for market players in Saudi Arabia.
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Target buyers of Saudi Arabia 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 country-level data and insights on the Saudi Arabia clinical trials market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia clinical trials market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia clinical trials market size, by phase, 2018-2030 (US$M)
Saudi Arabia Clinical Trials Market Outlook Share, 2023 & 2030 (US$M)
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