Clinical Trials Support Services Market Worth $37.1 Billion By 2030

 Clinical Trials Support Services Industry Overview

The global clinical trials support services market is expected to reach USD 37.1 billion by 2030, registering a CAGR of 7.50% from 2023 to 2030, according to a new report by Grand View Research, Inc. 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.


Clinical Trials Support Services Market Segmentation

Grand View Research has segmented the clinical trials support services market based on service type, phase, sponsor, and region:


Based on the Service, the market is segmented into Clinical trial site management, Patient recruitment management, Data management, Administrative staff, IRB, and Others.

  • Clinical trial site management includes site recruitment, retention, and monitoring. It accounted for the largest market share of 44.5% in 2022 and CAGR at 8.9%. The rising number of clinical trials, high prevalence of chronic diseases, and the increase in the number of CROs offering services are key factors anticipated to drive the market in the coming years. Site monitoring accounts for 9% to 14%, and site retention accounts for 9% to 16%. Thus, clinical trial site management accounts for around 29% to 59% of the entire cost of a trial.
  • Proper site management by the sponsor and/or CRO is crucial for trial execution and trial success. A sufficient degree of site administration and monitoring enables facilities to efficiently recruit, treat, and retain subjects while maintaining regulatory compliance, protocol adherence, subject rights protection, subject safety, and overall management of screened and recruited subjects.

 


Based on the Phase, the market is segmented into Phase I, Phase II, Phase III, and Phase IV.

  • The phase III segment dominated the market with the largest share of 54.1% in 2022. This growth can be attributed to the fact that phase III clinical trials are the most expensive ones and involve a significant number of subjects. The failure rate in this phase is the highest due to the sample size, and the study design requires complex dosing at an optimum level. The loss associated with failure is both human & financial, and the majority of the failures occur due to noncompliance with safety & efficacy standards.
  • The phase I segment is anticipated to register the fastest CAGR 9.0% during the forecast period. Clinical trial support services for phase I include sample collection management, early phase patient screening, data management, and assay redesign & others. The U.S., Europe, and China, followed by Canada & Australia, are thus recognized as crucial centers for registering and conducting substantial phase-I clinical trials. As a result, there is a significant market for clinical trial management services in these countries.

 


Based on the Sponsor, the market is segmented into Pharmaceutical & Biopharmaceutical companies, Medical Devices, and Others.

  • The pharmaceutical & biopharmaceutical companies' sponsor segment dominated the market with the largest revenue share of over 70.3% in 2022. The segment is also anticipated to witness the fastest CAGR from 2021 to 2030. This can largely be attributed to the increasing R&D investments and introduction of new drugs, which have increased in the past two decades. In 2019, the pharmaceutical industry spent USD 83 billion on R&D.
  • The medical device companies segment is anticipated to show lucrative growth CAGR 6.8% during the forecast period. In the clinical research industry, medical device manufacturers are minor customers, and clinical research sites generally focus on the more profitable sectors of biotechnology, pharmaceuticals, and fundamental research. However, as the FDA places an increasing focus on excellent clinical procedures, device makers will interact with this complicated business on a far more regular basis.

 

Key Companies & Market Share Insights

Some of the market players operating in the clinical trials support services market are Charles River Laboratories Intl Inc., Eurofins Scientific SE, IQVIA, Syneos Health Inc., and Icon PLC. Market players are undertaking various strategic initiatives, such as the signing of new partnership agreements, collaborations, mergers & acquisitions, and geographic expansion, aiming to strengthen their services, thus providing a competitive advantage.

For instance, in April 2019, the WuXi AppTec acquired a clinical research services company, Pharmapace, Inc., to expand its Biometrics offerings in clinical research with data management, statistical programming, clinical data integration, biostatistics, and medical writing. Some prominent players in the global clinical trials support services market are:

  • Charles River Laboratories International, Inc.
  • Wuxi Apptec, Inc
  • Iqvia Holdings, Inc
  • Syneos Health, Inc.
  • Eurofins Scientific
  • Ppd, Inc. (Pharmaceutical Product Development)
  • Icon Plc
  • Laboratory Corporation Of America Holdings (Labcorp)
  • Alcura
  • Parexel International Corporation

 

Order a free sample PDF of the Clinical Trials Support Services Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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