Clinical Trial Recruitment Industry Data Book - Clinical Trial Patient Recruitment, Site Management Organization and Support Services Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030
The global Clinical Trial Recruitment Industry was valued at USD 15.7 billion in 2021 and is anticipated to increase at a significant CAGR of 6.1% from 2022 to 2030.
Grand View Research’s clinical trial recruitment industry data book is a collection of market sizing information & forecasts, legal authorizations, payout/reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Clinical Trial Patient Recruitment Market Insights
The global Clinical Trial Patient Recruitment Market size was estimated at USD 780 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 8.0% from 2022 to 2030. The growing number of clinical studies globally is one of the key reasons supporting the demand for clinical trial patient recruitment services. Moreover, there is a growing amount of funding for clinical research, and the wide adoption of digital technologies in clinical research further supports the market's growth. For instance, in October 2021, the U.S. FDA approved 11 new clinical trial research, resulting in over USD 25 million in funding over the next 4 years. These grants aim to support the development of new medical products specifically for treating rare diseases.
Clinical trial patient recruitment service providers offer valuable assistance to pharmaceutical companies by streamlining the recruitment process and improving patient retention throughout the clinical trial. As a result, many companies are now outsourcing patient recruitment services to these specialized organizations. This trend creates opportunities for market players in the patient recruitment services sector to expand their global presence and meet the growing demand for efficient and effective patient recruitment strategies in clinical trials.
Clinical Trial Site Management Organization Market Insights
The global clinical trial site management organizations market size was estimated at USD 4,792.5 million in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030. The market has noticed critical growth on account of rising R&D investments by pharmaceutical companies owing to high burden of chronic and infectious diseases. Apart from this, the COVID-19 pandemic has contributed significantly to clinical trials demand, as of 12th April 2022, over 4,645 studies for COVID-19 were in the active stage. Robust dug pipeline and sponsors are key growth determinants of this market.
Clinical research sites have historically been a highly fragmented sector, consisting largely of part-time physician practices and small stand-alone companies. Consolidation has been occurring at an unprecedented rate, with sites coming together under common ownership or administration to operate as a single network. There are two business models in the clinical research industry for clinical trial sites: free-standing research sites, or dedicated research centers, and physician affiliated clinical trial sites.
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Clinical Trial Support Services Market Insights
The global Clinical Trial Support Services Market size was valued at USD 10,124 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.1% from 2022 to 2030. The global market is projected to expand rapidly due to the rising demand for trials in emerging economies, rising R&D investment, and an increasing number of contract research organizations (CROs). The pharmaceutical firms’ (R&D) venture has been steadily increasing every year, largely due to patent expirations. An ordinary patent terminates after 20 years; in the pharmaceutical area, there is an arrangement that provides for the entry of a generic version of the medication into the market following a time of 10 years. Thus, firms are boosting their R&D interests to speed the advancement of drugs, subsequently extending the whole market.
Clinical trials support services are quite useful in the event of a drug, assay design, and clinical testing. It also covers tasks such as strengthening clinical test locations, securing and storing research medicines, drug dosage calculation, and kit handling. Preclinical groundwork and research are provided by clinical test support services, which include clinical test site assistance, obtaining and storing study drugs, blinding of study drugs, patient recruiting, coordination, and reconciliation of returned medications.
Go through the table of content of Clinical Trial Recruitment Industry Data Book to get a better understanding of the Coverage & Scope of the study
Clinical Trial Recruitment Industry Data Book Competitive Landscape
Market players are undertaking various strategic initiatives, such as the signing of new partnership agreements, collaborations, mergers & acquisitions, and geographic expansion, aiming to strengthen their services, thus providing a competitive advantage.
Key players operating in the Clinical Trial Recruitment Industry are:
- Elligo Health Research
- Clinedge
- WCG
- ClinChoice
- Access Clinical Research
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