The clinical trial patient recruitment and retention services market is projected to grow at over 8% CAGR, according to a market research report by Roots Analysis

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Sep 05, 2023, 12:25 ET

Owing to the growing number of clinical trials and complexities associated with patient enrollment, drug developers are increasingly relying on patient recruitment service providers to expediate the drug development timelines

LONDON, Sept. 5, 2023 /PRNewswire/ -- Roots Analysis has announced the addition of "Clinical Trial Patient Recruitment Services Market (3rd Edition), 2022-2035" report to its list of offerings.

Amongst several known challenges, patient recruitment is considered to be one of the rate limiting steps when it comes to getting drugs to the market. Presently, more than 155 companies have the required capabilities to offer patient recruitment and retention services across different geographical locations. Such clinical trial recruitment companies employ a variety of outreach methods and, over time, have attained a vital role in the successful conduct of clinical research. Further, several contract service providers are entering into strategic alliances in order to enhance their respective capabilities and offer an expanded portfolio of services to their clients. One such example is the collaboration of Trialbee and Worldwide Clinical Trials. The two companies announced their partnership in May 2021, which was aimed at faster patient recruitment and bringing down the cost of drug development for their clients.

To order this 350+ page report, which features 95+ figures and 140+ tables, please visit our Clinical Trial Patient Recruitment Services Market Report

Key Market Insights

Currently, over 150 companies claim to offer patient recruitment and retention services to the pharmaceutical and medical device industries, using a variety of conventional and innovative outreach methods
The current market landscape is highly fragmented, featuring the presence of both new entrants and established players across key geographical regions
Most of the companies offer pre-screening of the potential study candidates and protocol development services to their clients; providing study-branded amenities is the most popular patient retention strategy
In order to gain a competitive edge and cater to the requirements of the clients, firms are actively improving their capabilities and enhancing their respective service portfolios
The increasing preference of trial sponsors to outsource patient recruitment-related activities is evident from the increase in partnership activity; in fact, more than 35% of the deals were forged in the last three years
Rising clinical research activity, specifically focused on rare and complex disease indications, is anticipated to create lucrative business opportunities for patient recruitment and retention service providers
The demand for participants in clinical research is rising, and gradually becoming more complex owing to stringent regulatory guidelines; by 2035, around 21 million patients are expected to be enrolled in clinical trials
The market is expected to grow at a CAGR of 8.2% till 2035; the projected opportunity is likely to be well distributed across different steps in the patient recruitment process, trial phase and therapeutic area
In terms of annual service revenues, North America is likely to capture majority share in the patient recruitment market; however, Asia Pacific is anticipated to grow at a higher rate compared to other geographies

For additional details, please visit https://www.rootsanalysis.com/reports/patient-recruitment-and-retention-services-market/245.html

The financial opportunity within the patient recruitment and retention services market has been analyzed across the following segments:

Patient Recruitment Step

Pre-screening
Screening

Trial Phase

Phase I
Phase II
Phase III
Phase IV

Therapeutic Area

Cardiovascular Disorders
Oncological Disorders
Infectious Diseases
CNS Disorders
Respiratory Disorders
Hematological Disorders
Dermatological Disorders
Ophthalmic Disorders
Others

Key Geographical Regions

North America
Europe
Asia Pacific
Latin America
Middle East and North Africa
Rest of the World

The report also features inputs from eminent industry stakeholders, according to whom, the continuously growing demand for patients and the increasing preference for outsourcing is likely to drive the growth of the overall patient recruitment and retention services market, in the foreseen future. The report includes detailed transcripts of discussions held with the following experts:

Susan Fitzpatrick-Napier (Founder and Director, TrialWire)
Kate Shaw (Chief Executive Officer and Founder) and Marco Lassandro (Marketing and Communications Manager, Innovative Trials)
Simon Klaasen (Co-founder and Managing Director, Link2Trials)
Stefan Mayer-Eggersmann (Chief Commercial Officer, Clariness)
Ken Shore (Chief Commercial Officer, Continuum Clinical)
Hagit Nof (Ex-Chief Operation Officer and Business Development Officer, nRollmed)
Paul Ivsin (Ex-Managing Director, Seeker Health)
Kasturi Lakhe (Inside Sales Specialist, EVERSANA)

The research includes profiles of the key players (listed below); each profile features a brief overview of the company, its financial performance (if available), recent developments and an informed future outlook.

BBK Worldwide
Continuum Clinical
IQVIA
United BioSource (UBC)
WCG ThreeWire
Clariness
Fidelis Research
Ignite Data
Innovative Trials
Orphan Reach
3H Medi Solution
Buzzreach
Current Medical Information Center (CMIC)
nRollmed
Trialfacts

Key Questions Answered

Who are the key players engaged in offering patient recruitment and retention services?
What are the current opportunities within the patient recruitment and retention services market?
What is the relative competitiveness of patient recruitment and retention service providers?
What types of partnership models are commonly adopted by stakeholders in this industry?
What is the overall demand of patients for recruitment in the ongoing clinical trials?
What are the key challenges faced by patient recruitment and retention service providers?
What are the key market trends and driving factors that are likely to impact this market?
What is the current / likely future market size of patient recruitment and retention services market?

Table of Contents

Preface
Executive Summary
Introduction
Patient Outreach Methods
Market Landscape
Company Competitiveness Analysis
Company Profiles: Patient Recruitment and Retention Services Providers in North America
Company Profiles: Patient Recruitment and Retention Services Providers in Europe
Company Profiles: Patient Recruitment and Retention Services Providers in Asia-Pacific and Rest of The World
Partnerships and Collaborations
Recent Trends in Patient Recruitment and Retention
Future Growth Opportunities in Patient Recruitment
Case Study: Regulatory Landscape of Patient Recruitment
Patient Recruitment in Trials Focused on Personalized Medicines and Rare Diseases
Analysis of Demand for Clinical Trial Participants
Market Sizing and Opportunity Analysis
Concluding Remarks
Executive Insights
Appendix 1: Tabulated Data
Appendix 2: List of Companies and Organizations