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 8.0% during the forecast period, 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.
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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.
Pharmaceutical organizations are progressively focusing on R&D activities to remain competitive & flexible in the world of healthcare expertise. Companies are focusing on outsourcing tasks ranging from basic research to patient enrollment services. Digital methods of communication are one of the most recent trends witnessed across the patient recruitment services market.
Clinical Trial Patient Recruitment Services Market Report Highlights
· The phase III segment dominated the market with a revenue share of more than 57% in 2021 due to the high cost associated with phase III studies
· The patient recruitment & registry services segment is anticipated to witness lucrative growth of 8.3% during the forecast period owing to the increasing adoption of digital technologies in patient enrolment services
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· Pain and Anesthesia in terms of therapeutic areas held the highest market share of 13.7% in 2021. This is because the cost related to pain management is significantly higher than in other therapeutic areas, thus simultaneously increasing the fees for patient recruitment and retention services
· In terms of age group, the adult (18 - 64 Years) segment is expected to witness a considerable growth rate across the forecast timeframe, owing to the increasing prevalence of health conditions in the age group
Clinical Trial Patient Recruitment Services Market Segmentation
Grand View Research has segmented the global clinical trial patient recruitment services market based on service, therapeutic areas, age group, phase, and region
Clinical Trial Patient Recruitment Services Service Type Outlook (Revenue, USD Million, 2018 - 2030)
· Patient Recruitment & Registry Services
· Patient Retention Services
· Others
Clinical Trial Patient Recruitment Services Phase Outlook (Revenue, USD Million, 2018 - 2030)
· Phase I
· Phase II
· Phase III
· Phase IV
Clinical Trial Patient Recruitment Services Therapeutic Areas Outlook (Revenue, USD Million, 2018 - 2030)
· Respiratory Diseases
· Pain and Anesthesia
· Oncology
· Central Nervous System
· Cardiovascular
· Endocrine
· Anti-Infective
· Others
Clinical Trial Patient Recruitment Services Age Group Outlook (Revenue, USD Million, 2018 - 2030)
· Child (Birth-17 Years)
· Adult (18 - 64 Years)
· Older Adults (65 Years+)
Clinical Trial Patient Recruitment Services Regional Outlook (Revenue, USD Million, 2018 - 2030)
· North America
o U.S.
o Canada
· Europe
o U.K.
o Germany
o France
o Italy
o Spain
· Asia Pacific
o Japan
o China
o India
o Thailand
o South Korea
· Latin America
o Brazil
o Mexico
o Argentina
o Colombia
· Middle East & Africa
o South Africa
o Saudi Arabia
o UAE
List of Key Players in the Clinical Trial Patient Recruitment Services Market
· Antidote
· Clara Health
· Clariness
· BBK Worldwide
· Worldwide Clinical Trials
· Clinical Site Services (CCSi)
· IQVIA
· PPD Inc
· Veristat
· Elligo Health Research
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About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
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