Clinical Trial Recruitment Industry Data Book - Magnetic Resonance Imaging, MRI Coils & Motion Tracking Systems Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030
The global Clinical Trial Recruitment Industry generated over USD 15.7 billion in 2021 and is projected to grow at a CAGR of more than 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.
Access the Global Clinical Trial Recruitment Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Clinical Trial Patient Recruitment Market Growth & Trends
The global patient recruitment market generated over USD 780 million revenue in 2021 and is projected to expand at a CAGR of around 8.0% during the forecast period to reach USD 1.6 billion by 2030.
The patient recruitment market is one of the major aspects of ensuring the success of a clinical trial. On-time recruitment of patients and investigators is a challenge for organizations. Moreover, patient retention through engagement is another major factor that is often overlooked. Despite it being a key parameter for the success of the trial, financially, this not the most major aspect. The activity to recruit and retain individuals in clinical studies contributes for only 5-10% of the R&D budget.
During the pandemic, another course of clinical trial conduction was favored i.e., in-silico testing, which made use of predictive & simulation technology to help conduct trials. This has currently not gained much traction with the players, owing to the fact these present no factual proof to the safety profile of molecules, but may hinder the recruitment process in another decade.
Based on phase, phase III dominated the market in 2021 with the share of 57.1%. The phase III clinical trials are the highly expensive due to the involvement of huge subjects. Failure rate in this phase is the highest as the sample size and study design requires complex dosing at an optimum level. Thus, the expensive nature of this phase increases its share in the market
Order your copy of the Free Sample of “Clinical Trial Recruitment Industry Data Book - Magnetic Resonance Imaging, MRI Coils & Motion Tracking Systems Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Clinical Trial Site Management Organization Market Growth & Trends
The global Clinical Trial Site Management Organization Market size is expected to expand at 5.8% CAGR from 2022 to 2030, according to a new report by Grand View Research, Inc. Pharmaceutical organizations are progressively focusing on R&D activities to remain competitive & flexible in the world of healthcare expertise, gradually advancing technologies, & unbalanced economic environment. Companies are focusing on outsourcing tasks ranging from basic research to late-stage manufacturing, such as target validation, hit exploration & lead optimization, assay development safety, genetic engineering, and efficacy tests in animal models & clinical trials involving humans.
R&D activities provide companies a competitive edge. Hence, global leaders spend a large percentage of their revenue on R&D activities. For instance, Merck’s R&D cost was USD 13.6 billion in 2020, increasing by 37% from 2019. Similarly, Biogen’s R&D budget increased from USD 1.7 billion, or 75.0%, to nearly USD 4 billion in 2020
Site management involves investment of millions of dollars every year. For instance, as per an article published by the Florence HC, the cost of clinical trials is projected to be anywhere between USD 44 million and USD 115 million. Site monitoring accounts for 9% to 14 % and site retention accounts for 9% to 16%. Thus, site management accounts for around 29% to 59% of the entire cost of a trial. If put into calculation with the aforementioned table, by 2024 the site management revenue would be anywhere between USD 60-125 Billion making it a lucrative business opportunity for SMOs.
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
Competitive Landscape
Key players operating in the Clinical Trial Recruitment Industry are:
- Antidote
- Clara Health
- Clariness
- BBK Worldwide
- Worldwide Clinical Trials
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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