DUBLIN–(BUSINESS WIRE)–The “Clinical Trial Investigative Site Network Market Size, Share & Trends Analysis Report by Therapeutic Areas (Oncology, CNS), by Phase (Phase I, III), by End-use (Sponsor, CRO), by Region, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The global clinical trial investigative site network market size is expected to reach USD 12.5 billion by 2030, registering a CAGR of 6.0% over the forecast period. Growing investments in pharmaceutical R&D, increasing demand for new therapies and complications associated with site management of clinical trials are some of the major factors driving the growth of the industry. There has been a consistent rise the clinical trials in the last 5 years. For instance, according to ClinicalTrials.gov, over 262,298 trials were registered in 2018, whereas as of September 2022, over 399,518 trials were registered. The clinical trials are expected to grow even further as the funding for research improves.
This is expected to propel the growth of the industry post-pandemic. There is a growing focus on reducing the cost associated with clinical research. Hiring a clinical trial investigative site network supports the regulatory function, improves the enrollment of participants, assists in data management, and quality assurance. It increases process compliance, reduces process issues with each trial, and helps with faster trial initiations, and shorter trial timelines. These factors are supporting the demand for clinical investigative site networks. The governments are actively trying to improve R&D by providing tax deductions. For instance, in January 2022, the Indian government stated that it is providing a weighted average tax deduction of up to 200% in R&D.
Such initiatives are expected to improve the R&D activities on drugs and thus support industry growth. According to the IQVIA, report on oncology trends, clinical trials for cancer have been increasing for the last 10 years. For instance, in 2011, 1,242 trials were registered for cancer, and as of 2021, 2,335 trials were registered for cancer. The number of clinical trials for cancer is expected to rise even further owing to the growing prevalence of the disease. This is expected to improve the demand for clinical investigative site networks for cancer clinical trials post-pandemic.
Clinical Trial Investigative Site Network Market Report Highlights
- Based on therapeutic areas, the oncology segment held the largest revenue share in 2021. The growing number of clinical trials for cancer is one of the major factors supporting the segment growth
- The phase III segment led the industry in 2021 with the maximum revenue share as this phase includes a greater number of patients than other phases, thus supporting the demand for clinical investigative site network
- Based on end-use, the Contract Research Organizations (CROs) segment is anticipated to witness the fastest CAGR over the forecast period
- This is owing to the increasing number of partnerships among site networks and CROs for clinical studies
- Asia Pacific is anticipated to register the fastest CAGR over the forecast period due to a rise in the outsourcing of clinical trials in this region
Market Dynamics
Market Drivers
- Increasing Partnership Amongst Contract Research Sites, Thereby Boosting the Growth of Clinical Trial Investigative Site Networks
- High Prevalence of Diseases Worldwide Contributing to the Demand for Clinical Research
- Globalization of Clinical Trials
Market Restraints
- Communication Errors Between Sites and Principal Investigators
- Complexities in Clinical Studies and Research Procedures
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Clinical Trial Investigative Site Network Market Variables, Trends & Scope
Chapter 4. Clinical Trial Investigative Site Network Market: Therapeutic Areas Estimates & Trend Analysis
Chapter 5. Clinical Trial Investigative Site Network Market: Phase Estimates & Trend Analysis
Chapter 6. Clinical Trial Investigative Site Network Market: End-use Estimates & Trend Analysis
Chapter 7. Clinical Trial Investigative Site Network Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Analysis
Chapter 9. Competitive Landscape
Companies Mentioned
- Icon
- Meridian Clinical Research
- Iqvia Inc.
- Clinedge
- Wcg
- Clinchoice
- Access Clinical Research
- Fomat Medical Research Inc.
- Sgs Sa
- Kv Clinical
- Smo-Pharmina
- Xylem Clinical Research
For more information about this report visit https://www.researchandmarkets.com/r/qn48st
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