The [FURL=https://www.industryarc.com/Report/19502/covid-19-clinical-trials-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Covid 19 Clinical Trials Market[/FURL] contributed revenue of $5.2 Billion in the year 2020 and is poised to grow at a CAGR of 10.1% for the forecast period of 2021-2026. Covid-19 market is a year old market, owing to the resurgence of the virus in major geographies during the year 2020. Hence, the development of the clinical trial market took momentum in the last quarter of 2020, which constituted of Prescription Drugs and vaccines amongst others. The clinical trial market is majorly driven by two products, which are vaccines and therapeutics to cure or prevent the disease. The industry is positioned to grow in the forecast period owing to the rising number of cases on a global scale, globalization of the clinical trials throughout the regions, and also because of the technological advancements in the medical field.Key Takeaways
Europe constituted the maximum share of the COVID 19 Clinical Trials market in the year 2020 owing to the surge in covid cases across the region, and the associated casualties.
The growth in this industry would be on factors such as a rise in the spending of finding vaccines and other therapeutic drugs.
The report consisting of Strengths, Weaknesses, Opportunities and Threat would be provided in the xmarket report.
A challenge for the industry is the high upfront costs in setting up research and development centres.
Download Sample Report @ [FURL]www.industryarc.com/pdfdownload.php?id=19502[/FURL]
COVID-19 Clinical Trials Market- Segment Analysis by Geography
The region of Europe held the largest share, accounting to 34.3% in terms of contribution to the COVID-19 clinical trials. The share is attributed to the contribution made by the various European governments in developing vaccines, and also owing to the COVAX facility through which the government plans to spend €2.47 billion for research, development and distribution across the low-income countries.
Asia-Pacific is set to dominate the demographics of the COVID-19 clinical trials market and grow at the fastest pace during the forecast period of 2021-2026. As numerous researchers and organizations are amidst developing therapeutic drugs and vaccines to combat the pandemic, and the associated casualties due to COVID-19.
COVID-19 Clinical Trials Market Drivers
Rising cases and Associated Deaths relevant to COVID-19 set to drive the market
Global Access to technology to drive market growth
COVID-19 Clinical Trials Market Landscape
Acquisitions, Product Launches and Mergers are the key strategic moves deployed by the COVID-19 Clinical Trial respondents. The top 10 companies operating in this industry are Janssen, Novartis, Roche, Gilead Sciences, Cipla, AstraZeneca, Pfizer, Roivant Sciences, Bharat Biotech, and Zydus Cadilla.
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.