The development of digital technologies, such as sensors and wearables, is likely to result in value grab opportunities for companies in the global clinical trials market. Based on the phase, the phase III segment dominated the global clinical trials market in 2022 with the highest market share. The fact that a phase III study covers a high number of individuals and is the most expensive phase of a trial among all segments contributes to the clinical trials market growth.

APAC clinical trial market is projected to attain a CAGR of 8.1% till 2027 due to emergence of severe diseases, huge patient population, increasing clinical trials and R&D.