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Global Clinical Trial Investigative Site Network Market

Clinical Trial Investigative Site Network Market Size, Share & Trends Analysis Report By Therapeutic area(Oncology, Cardiology, CNS, Pain Management, Endocrine), By Phase, By End-User, By Region, And Segment Forecasts, 2024-2031

Report ID : 1486 | Published : 2024-02-20 | Pages: 188 | Format: PDF/EXCEL

The Global Clinical Trial Investigative Site Network Market Size is valued at 7.99 billion in 2023 and is predicted to reach 14.25 billion by the year 2031 at an 7.70% CAGR during the forecast period for 2024-2031.

Key Industry Insights & Findings from the Report:

  • The need for investigative site networks is driven by the fact that clinical trials are essential in establishing the effectiveness and legitimacy of new medicines.
  • Clinical trials are in high demand due to the rising incidence of chronic diseases. These include cancer, heart problems, and neurological disorders.
  • North America dominated the market and accounted for a revenue share of global revenue in 2023.
  • Clinical trials are subject to a complicated and ever-changing regulatory scenario. Networks at investigational sites are subject to difficult and expensive regulatory standards.

clinical trial

The regulatory role is supported, participant enrollment is improved, data management is facilitated, and quality assurance is facilitated using a clinical trial investigative site network. It contributes to quicker trial initiations and shorter trial timeframes while increasing process compliance and reducing difficulties with each trial. These elements support the demand for networks of clinical investigative sites. The increased number of clinical trials is rising due to increased R&D spending and the desire for innovative therapies for uncommon diseases, which is, in turn, increasing the demand for clinical trial investigative site network services. The need for complex research and innovative treatments is being driven by the rising burden of diseases around the world, which is also anticipated to spur growth in these fields.

Since managing research sites and conducting clinical trials can be improved, pharmaceutical industry innovators are constantly coming up with new ideas. Outsourcing various trial operations to a specialist service provider, like site management organizations (SMOs), has emerged as a practical option for many developers among the alternatives. Employing such specialized service providers has many benefits, including helping sponsors meet their clinical research timeframes. A sizable growth rate is projected for the worldwide clinical investigative site network market. The accessibility of sites and the growing global reach of clinical trials are to blame for the growth.

Competitive Landscape

Some major key players in the Global Clinical Trial Investigative Site Network Market:

  • ICON Plc,
  • Meridian Clinical Research,
  • IQVIA Inc.,
  • Clinedge,
  • WCG,
  • ClinChoice,
  • Access Clinical Research,
  • FOMAT Medical Research, Inc.,
  • SGS, KV Clinical,
  • SMO-Pharmina,
  • Xylem Clinical Research,
  • Aurum Clinical Research.

Market Segmentation:

The clinical trial investigative site network market is segmented on the therapeutic area, phase and end-use. Based on the therapeutic area, the market is segmented into oncology, cardiology, CNS, pain management, endocrine and others. Based on phase, the clinical trial investigative site network market is segmented into Phase I, II, III and IV. Based on the end users, the clinical trial investigative site network market is segmented into sponsor and CRO.

Based on the therapeutic area, the oncology segment is a major contributor to the clinical trial investigative site network market.

The market's leading segment is oncology. The high frequency of various types of cancer and the surge in financing for oncology-related research are driving the segment's expansion. Clinical research on new anti-cancer medications and therapies is also expanding. As more individuals lead sedentary lifestyles, cancer cases will likely increase in the upcoming years. The rising prevalence of cancer cases will significantly increase the need for cutting-edge anti-cancer therapies, driving up the number of oncology-based clinical trials and fostering industrial expansion simultaneously.

The phase III segment witnessed growth at a rapid rate.

Phase III grabbed the highest revenue share, and it is anticipated that they will continue to hold that position during the expected time. Phase III clinical studies are more complex than those in earlier phases and involve a more significant number of patients. Therefore, there is a greater need for clinical trial investigative site networks in this stage of clinical trials. As a result of the sample size and research design, which call for precision dosing at an ideal level, this phase also has the highest failure rate.

The North American clinical trial investigative site network market holds a significant revenue share in the region.

The North American clinical trial investigative site network market is expected to register the highest market share. This high proportion can be attributed to pharmaceutical companies in the US and Canada investing more in clinical research. Further, it is anticipated that positive government support for clinical trials in the United States will boost consumption of the home machine of clinical trial investigation sites. Besides, the Asia Pacific region is estimated to hold the second-largest share of the market. Due to the ease of regulatory compliance, low study expenses, increasing patient population, and a few premier clinical institutions serving as sites, the area has become a hotspot for clinical trials.

Recent Development

  • In May 2023, WCG has introduced the 360 Protocol Assessment, a comprehensive solution that meets the requirements of ICH E8 R1 and enhances the ability to forecast the outcome of clinical trials. This solution offers sponsors an evaluation of the operational risks and feasibility of the protocol, taking into account the perspectives of various stakeholders. 
  • In December 2022, Velocity Clinical Research acquired Meridian Clinical Research for an undisclosed sum. With around 80 sites in the U.S. and Europe, including a tech cluster in Hyderabad, India, the agreement establishes Velocity as the leading research site organization globally.

 

Global Clinical Trial Investigative Site Network Market Report Scope

Report Attribute

Specifications

Market Size Value In 2023

USD 7.99 billion

Revenue Forecast In 2031

USD 14.25 billion

Growth Rate CAGR

CAGR of 7.70% from 2024 to 2031

Quantitative Units

Representation of revenue in US$ Billion and CAGR from 2024 to 2031

Historic Year

2019 to 2023

Forecast Year

2024-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

Therapeutic Area, Phase, End-User

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia

Competitive Landscape

ICON Plc, Meridian Clinical Research, IQVIA Inc., Clinedge, WCG, ClinChoice, Access Clinical Research, FOMAT Medical Research, Inc., SGS, KV Clinical, SMO-Pharmina, Xylem Clinical Research, and Aurum Clinical Research.

Customization Scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing And Available Payment Methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Clinical Trial Investigative Site Network Market Snapshot

Chapter 4. Global Clinical Trial Investigative Site Network Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Therapeutic Areas Estimates & Trend Analysis

5.1. by Therapeutic Areas & Market Share, 2019 & 2031

5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Therapeutic Areas:

5.2.1. Oncology

5.2.2. Cardiology

5.2.3. CNS

5.2.4. Pain Management

5.2.5. Endocrine

5.2.6. Others

Chapter 6. Market Segmentation 2: by Phase Estimates & Trend Analysis

6.1. by Phase & Market Share, 2019 & 2031

6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Phase:

6.2.1. Phase I

6.2.2. Phase II

6.2.3. Phase III

6.2.4. Phase IV

Chapter 7. Market Segmentation 3: by End-use Estimates & Trend Analysis

7.1. by End-use & Market Share, 2019 & 2031

7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End-use:

7.2.1. Sponsor

7.2.2. CRO

Chapter 8. Clinical Trial Investigative Site Network Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by Therapeutic Areas, 2024-2031

8.1.2. North America Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by Phase, 2024-2031

8.1.3. North America Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2024-2031

8.1.4. North America Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

8.2. Europe

8.2.1. Europe Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by Therapeutic Areas, 2024-2031

8.2.2. Europe Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by Phase, 2024-2031

8.2.3. Europe Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2024-2031

8.2.4. Europe Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

8.3. Asia Pacific

8.3.1. Asia Pacific Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by Therapeutic Areas, 2024-2031

8.3.2. Asia Pacific Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by Phase, 2024-2031

8.3.3. Asia-Pacific Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2024-2031

8.3.4. Asia Pacific Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

8.4. Latin America

8.4.1. Latin America Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by Therapeutic Areas, 2024-2031

8.4.2. Latin America Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by Phase, 2024-2031

8.4.3. Latin America Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2024-2031

8.4.4. Latin America Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

8.5. Middle East & Africa

8.5.1. Middle East & Africa Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by Therapeutic Areas, 2024-2031

8.5.2. Middle East & Africa Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by Phase, 2024-2031

8.5.3. Middle East & Africa Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by End-use, 2024-2031

8.5.4. Middle East & Africa Clinical Trial Investigative Site Network Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles

9.2.1. ICON Plc

9.2.2. Meridian Clinical Research

9.2.3. IQVIA Inc.

9.2.4. Clinedge

9.2.5. WCG

9.2.6. ClinChoice

9.2.7. Access Clinical Research

9.2.8. FOMAT Medical Research, Inc.

9.2.9. SGS

9.2.10. KV Clinical

9.2.11. SMO-Pharmina

9.2.12. Xylem Clinical Research

9.2.13. Aurum Clinical Research

9.2.14. Other Prominent Players

Segmentation of Clinical Trial Investigative Site Network Market

By Therapeutic Areas

  • Oncology
  • Cardiology
  • CNS
  • Pain Management
  • Endocrine
  • Others

clinical trial

By Phase

  • Phase I
  • Phase II
  • Phase III
  • Phase IV

By End-use

  • Sponsor
  • CRO

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

 

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How Big is the Clinical Trial Investigative Site Network Market?

Clinical Trial Investigative Site Network Market is expected to grow at a 7.70% CAGR during the forecast period for 2024-2031.

ICON Plc, Meridian Clinical Research, IQVIA Inc., Clinedge, WCG, ClinChoice, Access Clinical Research, FOMAT Medical Research, Inc., SGS, others

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