EUROPE
CLINICAL TRAILS MARKET 2014 - 2019 Market Shares, Forecasts & Trends
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MARKET OVERVIEW: EUROPE CLINICAL TRIALS The clinical trials market in Europe has witnessed a steady growth in the recent years. Markets in the Eastern Europe and Russia are markets with great potential when compared to the likes of Western European nations. Currently Europe generates 34.1% of the total revenue generated from the global clinical trials market. Germany is currently the biggest market in Europe with the market share as high as 23% of the European sector. Recent times have witnessed a boom in the markets in the eastern European sectors with Poland and Russia leading the market in terms of the number of clinical trials taking place and the investments made in this market. Recently regulatory decisions taken by the council of European Union mainly include measures to speed up the clinical trial authorization process. The main objective of this regulation is to make Europe a far more attractive destination for Clinical trials research. These measures are expected to propel the growth of the clinical trial market in the near future. The current European market for Clinical Trials is valued at $7.11 billion for the year 2014. This market is expected to reach $16.2 billion by the end of 2021. During this period the CAGR is expected to be 12.48%
Europe Clinical Trial Market Size ( in billion USD) 16.00 14.00 12.00 10.00 8.00 6.00 4.00 2.00 0.00 2010
2011
2012
2013
2014
2020
Source: Mordor Intelligence Analysis
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Oncology based Clinical Trials ( Europe)
Number of Clinical Trials
1800 1600 1400 1200 1000 800 600 400 200 0 2010
2011
2012
2013
Source: NIH, Mordor Intelligence Analysis
MARKET DRIVERS A rapid increase in the drug development costs dictates the need to expand the market. This factor has led to the emergence of the Eastern European market for clinical trials. The Eastern European region has a larger volunteer population, comparatively more lenient regulatory framework and lower costs for conducting clinical trials as compared to the North America. The number of drug trials conducted throughout Central & Eastern Europe has grown by an average of 15+% over the past five years, establishing this region as one of the world's most active in terms of clinical research. This has led to the emergence of Europe as a hub for new market players to make their way into the clinical trials research market. Costs involving clinical trials in Eastern Europe are 25% less than the costs involved in the North American sector. Excellent subject enrolment and high retention rate are one of the most important drivers for the growth of the European market.
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SEGMENTATION BY COUNTRY POLAND Poland is a country in Central Eastern Europe with a population of about 38 million people. With an average 450 corporate registrations for trials per year, it is the world’s 10th largest clinical trial market and it is also the largest clinical trials market in CEE and even conducts more trials than Russia. It has long been seen as one of the more attractive destinations for trials due its large population and close proximity to Western markets, while maintaining significantly lower costs compared to more developed states. The efficiency of patient recruitment and the high quality of medical staff are also major advantages. Much of this is due to the fact that nearly 70% of Poland’s Population of 38 million are urbanized, making it a relatively easy and less expensive to reach and recruit. On an average Poland is 30% cheaper than its counterparts in the European Region. A number of structural dynamics make Poland an especially attractive venue. Reports indicate that oncology studies account for 34% of the overall clinical trial market in Poland, followed by 14% for cardiovascular and 12% for rheumatology.
Growth in Clinical Trials in Poland Number of Clinical Trials
3000 2500
2000 1500 1000 500 0 2010
2011
2012
2013
Source: NIH, Mordor Intelligence Analysis
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Clinical Trial Study segmentation- Poland Oncology
10%
Cardiovascular
5% 34%
7%
Rheumatology Endocrine
8%
CNS Urology
10% 14% 12%
Infectious Disease Others
Source: Mordor Intelligence Analysis
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RESEARCH METHODOLOGY The research methodology can be put into the following sequence: 1) Secondary Research: Information was collected from a number of public and paid data sources. Public databases, company annual reports, white papers and research publications by recognized industry experts were utilized. Paid data sources include authentic industry databases.
2) Primary Research: After collecting data from secondary sources, primary interviews were conducted with stakeholders at different points of the value chain like manufacturers, MRO service providers, end users and key opinion leaders of the industry. Primary research was used both to validate the data points obtained from secondary research and to fill the data gaps after secondary research.
3) Market Engineering: The market engineering phase involves analysing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
4) Expert Validation: The market engineered data is verified and validated by a number of experts, both in-house and external.
5) Report Writing: After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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