Clinical Trials Market: Share, Trends & Forecast Analysis

The Clinical Trials Market is projected to reach $102.20 billion by 2031, growing at a CAGR of 7.2% from 2024 to 2031. The growth of this market can be attributed to various factors, including increasing focus on rare diseases, rise in adoption of personalized medicine, increasing research and development expenditure, and improving recruitment in clinical trials resulting in the retention of participants.

Furthermore, patient-centric clinical trials using the Internet of Medical Things (IoMT), advancements in cloud-based systems for pharmacovigilance, and integration of AI in clinical trials are expected to offer growth opportunities.