COVID-19 Clinical Trials Market - Forecast(2021 - 2026)
The Covid 19 Clinical Trials Market 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. Major drug developments from Novartis and others along with the likes of Pfizer and Moderna developed their mRNA vaccines in a record time, with higher efficacy and safety. S...