Clinical Trial Recruitment Industry | Forecast 2030
Clinical Trial Recruitment Industry Data Book – Clinical Trial Patient Recruitment, Site Management Organization and Support Services Market
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 Recruitment Industry Data Book Coverage Snapshot
Markets Covered
- Clinical Trial Recruitment Industry USD 15.7 billion in 2021, 6.1% CAGR (2022-2030)
- Clinical Trial Patient Recruitment Market Size USD 780 million in 2021, 8.0% CAGR (2022-2030)
- Clinical Trial Site Management Organization Market Size USD 4,792.5 million in 2021, 5.8% CAGR (2022-2030)
- Clinical Trial Support Services Market Size USD 10,124 million in 2022, 6.1% CAGR (2022-2030)
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 Services Market Growth & Trends
The global clinical trial patient recruitment services market size is expected to reach USD 1.56 billion by 2030 witnessing a CAGR of 8.07% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing pharmaceutical and medical sectors, increasing demand for clinical studies, and adoption of decentralized clinical trials are a few of the factors supporting the growth of the clinical trial patient recruitment services market.
However, the COVID-19 pandemic has affected the global market, the outbreak of COVID-19 has caused a voluntary pause in the clinical trials across the globe. The temporary lockdown has significantly disrupted clinical trials, especially in the patient recruitment industry. The lockdown has restricted the patient’s visits to trial sites, which has ultimately led to significant dropouts of the patient population from several clinical trials.
However, companies operating across the industry have focused on mitigating the negative impact of the pandemic by adopting measures such as mergers and acquisitions, implementation of digital technologies such as decentralized clinical trials, remote monitoring of patients, and a few others. Such factors helped the industry to flourish back to its normal growth rate post-2021.
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Clinical Trials Site Management Organizations Market Growth & Trends
The global clinical trials site management organizations market size is expected to reach USD 9.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.1% from 2022 to 2030. Site management organizations (SMOs) are essential elements of pharmaceutical and biopharmaceutical companies. Such organizations help to limit the burden associated with clinical research. SMOs offer several services including patient enrollment services, addressing clinical trial location-specific study activities, hiring study staff, and monitoring clinical studies site operations. Improved technological use in integrated site networks and clinical trial services, increasing trend of outsourced clinical services, and growing clinical trial activities globally owing to the high burden of chronic and infectious diseases, are few of the factors driving the market.
Technology has improved efficiencies at the site level by improving metrics such as on-site identification, selection, and performance, as well as throughout the patient spectrum by analyzing recruitment, enrollment, selection, retention, and compliance measures at sites. Furthermore, technical improvements have resulted in enhanced biostatistics and data analytics analysis to better evaluate a drug’s feasibility early in the development phase. As a result of the COVID-19 pandemic, several organizations were forced to halt operations while others were forced to completely shut down. However, the SMOs execute multi-eccentric trials effectively to save the firm money and time.
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 Trials Support Services Market Growth & Trends
The global clinical trials support services market is expected to reach USD 37.1 billion by 2030, registering a CAGR of 7.50% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing the number of CROs offering clinical trial support services, and huge investment in research & development by the pharmaceutical and biopharmaceutical companies are the key factors driving the market growth. The industry felt the impact of the COVID-19 pandemic. The pandemic disrupted the supply chain to a severe extent in 2020. However, it also revealed ways to grow, either through M&A or through the adoption of digital technologies in clinical research.
Clinical trials encounter some concerning statistics, such as 85% of the clinical trials fail to recruit enough participants, 80% are delayed due to recruiting challenges, and the rate of dropout of participants is increasing. However, to overcome this, a patient retention strategy that is engaging and gives clarity is required. It is critical to ensure that the informed consent materials are simple to grasp. According to a CISCRP study, 35% of trial participants who later dropped out stated that informed consent was difficult to comprehend. An average American is 7th to 8th grade educated, and it is critical to guarantee and analyze the material’s readability before submitting it to the Institutional Review Board (IRB).
Competitive Landscape
This micro market analyses different stakeholders of the value chain, and cumulatively the 3 studies will include players such as Antidote; Clara Health; Clariness; BBK Worldwide; Worldwide Clinical Trials; Clinical Site Services (CCSi); IQVIA; PPD Inc; Veristat; Elligo Health Research. These are major players in the patient recruitment and retention services. Other players would be Charles River Laboratories Inc.; Eurofins Scientific SE; IQVIA; Syneos Health Inc.; The Pharmaceutical Product Development LLC; Icon PLC; WuXi AppTec; LabCorp; Alcura; Parexel International, Clinedge; WCG; ClinChoice; Access Clinical Research; FOMAT Medical Research INC.; SGS; KV Clinical; SMO-Pharmina; Xylem Clinical Research; Aurum Clinical Research
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