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Global patient recruitment and retention services market
Dublin, March 11, 2024 (GLOBE NEWSWIRE) — The “Patient Recruitment and Retention Services Global Market Report 2024” report has been added to ResearchAndMarkets.com Dedication.
The market size of patient recruitment and retention services has grown strongly in recent years. It is expected to grow from US$3.78 billion in 2023 to US$4.01 billion in 2024, with a compound annual growth rate (CAGR) of 6.2%. The growth over the historical period can be attributed to traditional recruitment techniques, expansion of clinical trials and research activities, increasing trial protocol complexity, changing regulatory requirements, and the increasing adoption of patient-centered approaches.
The patient recruitment and retention services market size is expected to grow strongly in the coming years. This number will grow at a compound annual growth rate (CAGR) of 5.4% to $4.96 billion by 2028. The expected growth during the forecast period is related to the heightened emphasis on diversity in clinical trials, rising outsourcing of patient recruitment services, expanding scope of precision medicine trials, advancements in data analysis for recruitment purposes, and increasing emphasis on real-life clinical trials. World Evidence on Trial. Key trends expected during the forecast period include integration of social media into patient recruitment efforts, creation of patient engagement platforms, increase in virtual and decentralized trial approaches, implementation of predictive analytics in recruitment strategies, and customized patient-centric trial designs.
The expansion of clinical trials is a key driver for the growth of the patient recruitment and retention services market. Clinical trials focus on studying new procedures and drugs and their effects on health outcomes and require the identification and recruitment of qualified participants. Patient recruitment and retention services play a vital role in facilitating this process and supporting the overall development of clinical trials. Data from the World Health Organization proves that the number of clinical trials is constantly increasing. For example, from 2020 to 2021, clinical trials in Southeast Asia increased from 9,175 to 10,966, and in Europe during the same period, the number of clinical trials increased from 17,161 to 17,756, highlighting the continuous increase in the number of clinical trials. increase. Demand for patient recruitment and retention services.
An important factor driving the market growth is the surge in funding for clinical research. Clinical research funding includes financial support for scientific research related to understanding, diagnosing, treating, or preventing disease and plays a vital role in advancing medical knowledge. The portion allocated to Patient Recruitment and Retention Services is used to enhance the process of identifying and retaining clinical trial participants. Notably, data from the National Institutes of Health show that support for new and renewed extramural grants increased in fiscal year 2022, totaling 58,368, a 2.8% increase from the previous year. The success rate for new Research Program Grants (RPG) also increased by 1.6 percentage points, from 19.1% in 2021 to 20.7% in 2022. The substantial growth in funding highlights the positive impact on the market for patient recruitment and retention services.
Reporting scope
Markets covered:
1) According to patient recruitment steps: pre-screening; screening
2) According to the experimental stage: the first stage; the second stage; the third stage; the fourth stage
3) According to the treatment area: cardiovascular diseases; tumor diseases; infectious diseases; central nervous system diseases; respiratory diseases; blood system diseases; other diseases
Major companies mentioned: IQVIA Holdings, Inc.; Icon PLC; Veradigm Corporation; Medpace Holdings, Inc.; Global Clinical Trials Company
nation: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; United Kingdom; United States; Canada; Italy; Spain
area: Asia Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
sequentially: Five-year history and ten-year forecast
data: Market size and growth ratio with related markets, GDP ratio, per capita expenditure
Data segmentation: Country and regional historical and forecast data, competitor market shares, market segments
Sources and references: Data and analysis throughout this report are sourced from Endnotes
Delivery format: PDF, Word and Excel data dashboard
Key attributes:
Report properties |
detail |
Number of pages |
175 |
forecast period |
2024-2028 |
Estimated market value in 2024 (USD) |
$4.01 billion |
Forecast market value by 2028 (USD) |
$4.96 billion |
CAGR |
5.4% |
Coverage area |
Global |
For more information about this report, please visit https://www.researchandmarkets.com/r/wdzlz3
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