Patient Recruitment and Retention Services Market Research Report 2023 - InsightAce Analytic
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InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the " “Global Patient Recruitment and Retention Services Market - Trends, Industry Competition Analysis, Revenue and Forecast To 2030."
According to the latest research by InsightAce Analytic, The Patient Recruitment and Retention Services Market Size is valued at 3.73 Billion in 2022 and is predicted to reach 5.67 Billion by the year 2031 at a 4.96 % CAGR during the forecast period for 2023-2031.
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Understanding innovative treatment interventions' safety and efficacy profiles require understanding the laborious phase in the drug development process known as clinical trials. Patient recruiting is seen as one of the rate-limiting phases when it comes to getting medicines to market, among other well-known difficulties. In addition, keeping patients on board is a problem, given the general dropout rate in clinical research. It has been demonstrated that using contract service providers can speed up the patient recruitment process. These service providers use a range of outreach techniques, including social media, mobile technology, electronic health records (EHRs), and real-world evidence (RWE). Over time have come to play an essential part in the efficient conduct of clinical research.
The market for clinical trial patient recruitment services is expanding due to a number of factors, including the expanding pharmaceutical and medical industries, the rise in clinical study demand, and the adoption of decentralized clinical trials. Clinical trials and drug development are ensured to go more quickly with improved patient recruiting rates, and this presents a chance for medical enterprises to shorten their time to market. Therefore, patient recruiting and retention services are essential to the medical sector. Many big pharma players have outsourced their patient recruitment operations due to the growing complexity of clinical trials and the demand for niche patient populations for studies evaluating orphan drugs and personalized medicines. More developer companies are likely to follow suit as a result of these factors.
However, delays in product release caused by sponsors' failure to attract/retain patients are prevalent and are thought to cause an average loss. The temporary shutdown has severely affected clinical trials, particularly in the patient recruitment sector. The lockout has limited patients' access to study venues, which has finally resulted in a sizable patient population dropout from a number of scientific trials.
North America dominated the world market with the greatest revenue share in 2021. With the large number of clinical studies being undertaken in the area, this market is most likely to expand. Government funding for clinical trials and large R&D investments are furthering the market's expansion. The growth of the North American clinical trial patient recruitment services market has been attributed to the presence of significant CROs providing support services like patient recruitment and multinational pharmaceutical & biopharmaceutical companies making significant investments in clinical research. With the low research expenses, simple regulatory compliance, growing patient population, and a few elite clinical institutions serving as sites, the area has emerged as a hub for clinical trials.
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Major market players operating in the patient recruitment and retention services market include Acurian Inc , BBK Worldwide , Bright Pharmaceutical Services, ClinEdge , CSSi , CTM , Evolution Research Group (ERG), Integrated Clinical Trial Services, Inc. (ICTS), MMG Limited , Veristat , WCCT Global | An Altasciences Company , antidote , Clinical Accelerator , Fidelis Research, Ignite Data LLC , Polaris BioPharma Consulting , Raremark Foundation , Clinrol , 3Hメディソリューション , Gitzo Medical Technology, Pacific Grove, and TrialWire Rapid Patient Recruitment Platform .
Key developments in the market:
·??????In June 2022, Evolution Research Group, LLC (ERG) acquired Ohio Clinical Trials (OCT). The purchase of OCT complements ERG's objective of consistently adding personnel and services to diversify further within the brain and pain therapeutic areas and streamline clinical trial execution throughout all phases of development.
·??????In Jan 2022, Publicis Health announced the acquisition of BBK Worldwide (BBK). BBK allows biotech and pharmaceutical clients to speed R&D programmes by integrating patient-centric services and proprietary technology in a way that advances research, complementing Publicis Health's current CTE capabilities.
·??????In September 2021, Syneos Health a strategic agreement with Ride Health to provide clinical trial participants with non-emergency medical transportation (NEMT). The partnership, which is based on product integration between Ride Health and the Syneos Health patient engagement platform, will make it possible to provide a comprehensive transportation program for Syneos Health trials in the United States to increase access, easing burden, and enhancing patient retention while accelerating clinical trial recruitment for sponsors.
·??????In September 2020, ICON plc announced that it is launching Accellacare. This global clinical research network will provide patients with quicker access to cutting-edge treatments and give customers the option to set up decentralized trials. The site network includes MeDiNova Research in EMEA and previously purchased PMG Research in the US.
Market Segments
Global Patient Recruitment and Retention Services Market, by Therapeutic Areas, 2023-2031 (Value US$ Bn)
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Global Patient Recruitment and Retention Services Market, by Type, 2023-2031 (Value US$ Bn)
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Global Patient Recruitment and Retention Services Market, by Age Group, 2023-2031 (Value US$ Bn)
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Global Patient Recruitment and Retention Services Market, by End-user, 2023-2031 (Value US$ Bn)
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Global Patient Recruitment and Retention Services Market, by Trial Phases, 2023-2031 (Value US$ Bn)
·??????Phase I
·??????Phase II
·??????Phase III
·??????Phase IV
Global Patient Recruitment and Retention Services Market, by Region, 2023-2031 (Value US$ Bn)
·??????North America
·??????Europe
·??????Asia Pacific
·??????Latin America
·??????Middle East & Africa
North America Patient Recruitment and Retention Services Market, by Country, 2023-2031 (Value US$ Bn)
·??????U.S.
·??????Canada
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Europe Patient Recruitment and Retention Services Market, by Country, 2023-2031 (Value US$ Bn)
·??????Germany
·??????France
·??????Italy
·??????Spain
·??????Russia
·??????Rest of Europe
Asia Pacific Patient Recruitment and Retention Services Market, by Country, 2023-2031 (Value US$ Bn)
·??????India
·??????China
·??????Japan
·??????South Korea
·??????Australia & New Zealand
Latin America Patient Recruitment and Retention Services Market, by Country, 2023-2031 (Value US$ Bn)
·??????Brazil
·??????Mexico
·??????Rest of Latin America
Middle East & Africa Patient Recruitment and Retention Services Market, by Country, 2023-2031 (Value US$ Bn)
·??????GCC Countries
·??????South Africa
·??????Rest of Middle East & Africa
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Why should buy this report:
??To receive a comprehensive analysis of the prospects for the global patient recruitment and retention services market
??To receive an industry overview and future trends of the patient recruitment and retention services market
??To analyze the patient recruitment and retention services market drivers and challenges
??To get information on the patient recruitment and retention services market size (Value US$ Bn) forecast to 2030
??TO get information on major investments, mergers & acquisitions in the patient recruitment and retention services industry
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