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North America Leads the Clinical Trial Patient Recruitment Services Market with a 50.1% Share in 2022
Friday, October 27, 2023
DUBLIN, Oct. 19, 2023 /PRNewswire/ -- The "Clinical Trial Patient Recruitment Services Market Size, Share & Trends Analysis Report By Service Type, By Phase, By Therapeutic Area, By Age group, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
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The global clinical trial patient recruitment services market is poised for substantial growth, with an expected value of USD 1.56 billion by 2030, witnessing a robust Compound Annual Growth Rate (CAGR) of 8.07% from 2023 to 2030.
Key Market Drivers:
1. Growing Pharmaceutical and Medical Sectors: The market's growth is fueled
by the expanding pharmaceutical and medical sectors. The increasing
demand for clinical studies and the adoption of decentralized clinical
trials are significant factors supporting the clinical trial patient
recruitment services market's growth.
2. Impact of COVID-19: The COVID-19 pandemic temporarily disrupted clinical
trials worldwide due to lockdowns and restrictions on patient visits to
trial sites. This led to significant patient dropouts from clinical
trials. However, industry players adopted measures such as mergers and
acquisitions, the implementation of digital technologies like
decentralized clinical trials, remote patient monitoring, and other
strategies to mitigate the pandemic's negative impact. These efforts have
contributed to the industry's recovery and return to normal growth rates
post-2021.
3. R&D Focus: Pharmaceutical organizations are increasingly focusing on
research and development activities to remain competitive and adaptable
in the healthcare sector. Outsourcing tasks, including patient enrollment
services, is a trend observed in the industry. Digital communication
methods, such as online platforms and social media, are streamlining
recruitment efforts. Online sources have become the primary channel for
individuals to learn about clinical trials, leading to evolving
e-recruitment tactics, including social media engagement, web listening,
and online screeners.
4. Mobile Device Usage: With the widespread use of mobile devices,
smartphone applications and text messaging have become valuable tools for
patient recruitment. In North America, approximately 11% of clinical
studies involve social media communications. These factors are
anticipated to support market growth.
Companies Mentioned
-- Clara Health
-- Antidote
-- BBK Worldwide
-- Clariness
-- Clinical Site Services (CCSi)
-- Worldwide Clinical Trials
-- Thermo Fisher Scientific Inc. (PPD Inc.)
-- IQVIA; Inc
-- Veristat
-- Elligo Health Research
Clinical Trial Patient Recruitment Services Market Report Highlights:
-- Phase III Dominance: In 2022, the phase III segment dominated the
market, with a revenue share of more than 57.2%. This is attributed to
the high costs associated with phase III studies.
-- Growth in Patient Recruitment & Registry Services: The patient
recruitment & registry services segment is expected to witness lucrative
growth of 8.3% during the forecast period, driven by the increasing
adoption of digital technologies in patient enrollment services.
-- Therapeutic Area Focus: Pain and Anesthesia led the market in terms of
therapeutic areas in 2021, holding the highest market share of 13.7%.
The higher costs associated with pain management contribute to increased
fees for patient recruitment and retention services in this category.
-- Age Group Impact: The adult (18 - 64 Years) segment is expected to
experience significant growth during the forecast period due to the
increasing prevalence of health conditions in this age group.
-- North American Leadership: North America held the largest market share
of 50.1% in 2022, with a substantial number of ongoing clinical trials
driving market growth in the region.
Key Topics Covered:
Chapter 1 Methodology And Scope
Chapter 2 Executive Summary
Chapter 3 Clinical Trial Patient Recruitment Services Market: Variables, Trends, & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.1.2 Ancillary Market Outlook
3.2 Clinical Trial Patient Recruitment Services Dynamics
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.1.1 High R&D Spending Of Pharmaceutical Companies
3.3.1.2 Increase In Number Of Global Clinical Trials
3.3.1.3 Adoption Of Digital Clinical Trials
3.3.1.4 Increase In Offshoring Of Clinical Trials In Emerging Market
3.3.2 Market Restraint Analysis
3.3.2.1 Lack Of Awareness Towards Clinical Trials
3.4 Patient Recruitment Management Trends
3.3.1 Patient Recruitment Tactics
3.5 Porter's Five Forces Analysis
3.6 Pest Analysis
3.7 Covid-19 Impact On Clinical Trial Patient Recruitment Services Market
Chapter 4 Clinical Trial Patient Recruitment Services Market: Service Type Segment Estimates & Trend Analysis
Chapter 5 Clinical Trial Patient Recruitment Services Market: Phase Segment Estimates & Trend Analysis
Chapter 6 Clinical Trial Patient Recruitment Services Market: Therapeutic Areas Segment Estimates & Trend Analysis
Chapter 7 Clinical Trial Patient Recruitment Services Market: Age Group Segment Estimates & Trend Analysis
Chapter 8 Regional Estimates & Trend Analysis, 2018 - 2030 (USD Million)
Chapter 9 Competitive Landscape
Chapter 10 Key Takeaways
For more information about this report visit https://www.researchandmarkets.com/r/gr0fgi
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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