Global clinical trial recruitment industrydata 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 Analysis & Forecast
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. 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. 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. With the help of online platforms, the recruitment growth seems to be streamlining. The majority of people learn about clinical trials through online sources compared to traditional print or TV/radio outreach. Hence, several e-recruitment tactics are evolving, such as social media, web listening, as well as online screeners.
Access the Global Clinical Trial Recruitment Industry Data Book from 2023 to 2030, compiled with details by Grand View Research
Clinical Trial Site Management Organization Market Analysis & Forecast
The global clinical trials site management organizations market size was valued at USD 4,792.5 million in 2021 and is anticipated to expand at a CAGR of 5.8% 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.
Manual processes and paperwork are replaced by digital technologies to limit the negative impact of the pandemic on the business. Due to this, Site Management Organization facilitates detailed documentation while also streamlining the procedure in any clinical research, even when physical contact is nearly impossible to prevent viral spread. SMO's efficient follow-up skills along with the adoption of virtual technologies to conduct clinical research have significantly decreased the time required to recruit patients. As new virus strains are being discovered in different areas of the world, research would remain a top focus. SMOs would be required by health and biotech companies for data collection, participant or patient safety, patient recruitment, more accurate doctor contact information, and other tasks. Hence, such factors are supporting the rebound of revenues across the market during 2021.
Clinical Trial Support Services Market Analysis & Forecast
The global clinical trials support services market was valued at USD 10,124 million in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 6.1% from 2023 to 2030. 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).
Adoption of virtual clinical trials across the clinical trials support services industry is one of the major factors that has boosted revenue growth post-pandemic. An increasing number of clinical research organizations are focusing on the adoption of virtual technologies to streamline their clinical research services. According to the latest Annual CRO Report by the Veeva Unified Clinical Operations Survey, CROs are making significant advancements to speed up and modernize clinical trials. Findings from Veeva Systems reflect that CROs have taken decisive action to streamline trial execution by adopting new technologies and digital strategies that replace manual processes, eradicate information siloes, and enable trial collaborations.
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Key players operating in the clinical trial recruitment industry are –
• Antidote
• Clara Health
• Clariness
• BBK Worldwide
• Worldwide Clinical Trials
• Clinical Site Services (CCSi)
• IQVIA
• PPD Inc
• Veristat
• Elligo Health Research
• Charles River Laboratories Inc.
• Eurofins Scientific SE
• 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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