Rebound Continues— for Now Clinical trial starts continued to grow in 2024, albeit at a slower pace than in 2023.This slackening reflects sustained geopolitical and global regulatory pressures onKey findings the pharmaceutical space. Trial count10,5039,9599,10410,4109,8197,7657,6066,79420242023202220212020201920182017Year of trial initiation Trialtrove captured10,503PhaseI–III trials investigating at leastone drug with a disclosed start Year-on-year growth (%)3.6%11.0%-7.0%1.6%5.3%1.4%8.0%12.0% Oncology retained the top spot in clinical trial initiations, although growth slowed to5% in 2024 from 9.5% in 2023.All therapeutic areas (TAs) showed increases except genitourinary, which fell20%, and infectious disease, which declined13.6%.Phase I–III clinical trial initiations by therapeutic areaOncology 20232024 the eight TAs will be higher than the total number of Phase I–III trials started in 2024. Trial counts for ID include activity from vaccines(infectious diseases), which is a separate TA module within Trialtrove. For the purposes of this analysis, all ID activity has been combinedinto a single TA. Three large pharma companies slid outof the topMerck & Co.3(3)101(126) Pfizer6(2)CSPC Pharmaceutical7(14)74(128)65(56) 3 More London Riverside, London SE1 2AQ