Insight Analytics Pvt. Ltd. announces the release of a market assessment report on the “Global Patient Recruitment and Retention Services Market- by Therapeutic Areas (Cardiovascular Diseases, Oncological Disorders, Infectious Diseases, CNS Disorders, Respiratory Disorders, Hematological Disorders and Others), Patient Recruitment Steps (Pre-screening and Screening), Trail Phases (Phase I, Phase II, Phase III and Phase IV), Trends, Industry Competition Analysis, Revenue and Forecast To 2030.”
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According to the latest research by Insight Analytics, the global Patient Recruitment and Retention Services market was valued at US$ 3.63 Billion in 2021. It is expected to reach US$ 5.45 Billion by 2030, with a CAGR of 4.7% during a forecast period of 2024-2031.
Patient recruitment and retention are regarded as one of the most time-consuming aspects of bringing medications to market, among other well-known challenges. Furthermore, considering the general dropout rate in clinical research, keeping patients on board is challenging. Using contract service providers has been shown to speed up patient recruiting. These service providers employ various outreach methods, such as social media, mobile technologies, electronic health records (EHRs), and real-world evidence (RWE). They have come to play an essential role in the effective conduct of clinical research over time.
Due to variousof factors, including the development of the pharmaceutical and medical sectors, the rise in demand for clinical studies, and the adoption of decentralized clinical trials, the market for patient recruiting and retention services are rising. With higher patient recruitment rates, clinical trials and medication development are certain to go more swiftly, allowing medical businesses to reduce their time to market. As a result, the medical industry requires patient recruitment and retention services. Due to the rising complexity of clinical trials and the need for specific patient demographics for studies evaluating orphan pharmaceuticals and tailored medications, several major firms in the pharmaceutical industry have outsourced their patient recruiting activities. These factors will probably cause other developer companies to follow suit. However, sponsors frequently experience delays in product releases estimated to result in an average loss since they cannot draw or keep patients. The temporary suspension has badly impacted clinical studies, especially in patient recruitment. Due to the lockout’s restrictions on patients’ access to research locations, many patients have ultimately dropped out of several scientific experiments.
North America is projected to contribute to the Patient Recruitment and Retention Services market over the forecast years. This market is projected to expand, given the various clinical research being conducted in the region. Government support for clinical trials and significant R&D expenditures foster the market’s growth. In addition, the Asia Pacific Patient Recruitment and Retention Services market is expected to grow significantly during the forecast period due to sizable CROs offering support services, including patient recruiting and sizeable multinational pharmaceutical & biotech corporations investing sizable sums of money in clinical research.
Major market players operating in the Patient Recruitment and Retention Services market include
Acurian, BBK Worldwide, Bright Pharmaceutical Services, ClinEdge, CSSi, CTM, Evolution Research Group (ERG), Integrated Clinical Trial Services (ICTS), MMG, Veristat, WCCT Global, Antidote, Clinical Accelerator, Fidelis Research, Ignite Data, Polaris BioPharma Consulting, Raremark, Clinrol, CROee, Gitzo Medical Technology, Pacific Grove, and TrialWire.
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Recent collaborations and agreements in the market:
- In June 2022, Ohio Clinical Trials was bought by Evolution Research Group, LLC (ERG) (OCT). The acquisition of OCT supports ERG’s goal of steadily expanding its workforce and offering more services to diversify its therapeutic offerings for pain and the brain and streamline the conduct of clinical trials at all stages of development.
- In January 2022, Publicis Health disclosed purchasing BBK Worldwide (BBK). By combining patient-centric services and proprietary technology in a way that enhances research and complements Publicis Health’s current CTE capabilities, BBK enables biotech and pharmaceutical clients to expedite R&D projects.
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Market Segments
Global Patient Recruitment and Retention Services Market, by Therapeutic Areas, 2024-2031(Value US$ Mn)
- Cardiovascular Diseases
- Oncological Disorders
- Infectious Diseases
- CNS Disorders
- Respiratory Disorders
- Hematological Disorders
- Others
Global Patient Recruitment and Retention Services Market, by Patient Recruitment Steps, 2024-2031(Value US$ Mn)
- Pre-screening
- Screening
Global Patient Recruitment and Retention Services Market, by Trail Phases, 2024-2031(Value US$ Mn)
- Phase I
- Phase II
- Phase III
- Phase IV
Global Patient Recruitment and Retention Services Market, by Region, 2024-2031(Value US$ Mn)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
North America Patient Recruitment and Retention Services Market, by Country, 2024-2031(Value US$ Mn)
- U.S.
- Canada
Europe Patient Recruitment and Retention Services Market, by Country, 2024-2031(Value US$ Mn)
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia Pacific Patient Recruitment and Retention Services Market, by Country, 2024-2031(Value US$ Mn)
- India
- China
- Japan
- South Korea
- Australia & New Zealand
Latin America Patient Recruitment and Retention Services Market, by Country, 2024-2031(Value US$ Mn)
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa Patient Recruitment and Retention Services Market, by Country, 2024-2031(Value US$ Mn)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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 in 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 value (US$Mn) forecast to 2030
- Significant investments, mergers & acquisitions in the Patient Recruitment and Retention Services market industry
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