Report Highlights
New technologies and the outsourcing of clinical trials to lower-cost countries will slow the recent annual increases in expenditures in the U.S. to a 3.3% compound annual growth rate (CAGR) over the forecast period. Clinical trial spending in 2010 is an estimated $25 billion and is expected to reach $28.5 billion by 2014.
SCOPE OF REPORT
The report provides an overview of clinical development phases, the regulatory issues involved, and the factors influencing clinical trial costs. An overview is provided of new technologies that will be affecting the clinical trial process in the near future. Major product pipelines are provided by physiological system and company.
ANALYST CREDENTIALS
Jon Evans has been involved in business development and research for the medical industry since 1984. Mr. Evans’ career includes 4 years as a diagnostic systems sales representative and over 15 years in market research and strategy analysis with Fortune 500 clients. He has developed expertise in assessing the unique business development challenges facing firms in the medical industry and designing strategies to optimize market performance. Mr. Evans received a BS in biology from Rutgers University in 1983, and an MBA in business analysis from San Francisco State University in 1989.
Report Highlights
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National spending on clinical trials was nearly $24 billion in 2005. By 2006 this number will rise to $25.6 billion and then $32.1 billion in 2011, an average annual growth rate (AAGR) of 4.6%. In 2005, biotechnology and pharmaceutical companies spent approximately $51 billion on research and development efforts, with $21 billion (41%) spent on clinical trials. In comparison, government contributions to clinical trials were considerably smaller. The National Institutes of Health spent $2.9 billion on clinical trials in 2005 and budgeted $3.0 billion for 2006.
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Total funding for 2005 was $24.4 billion. In 2006 this number will rise to $26 billion and in 2011 to $32.6 billion, an AAGR of 4.6%
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The number of clinical trials performed in 2005 was 8,386. BCC Research predicts this number will reach almost 10,000 by 2006. At an AAGR of 5.8%, the number of clinical trials performed in 2011 will reach more than 13,000.
Report Highlights
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The number of clinical trials in the US reached 2,519 in 2002.
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They will increase at an average annual growth rate (AAGR) of 12.3%.
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By 2007, $26.555 billion will be spent on clinical trials.
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R&D budgets will increase at an AAGR of at least 10%.
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