Oncology Clinical Trials Market Size, Share & Trends Analysis Report By Phase Type (Phase I, Phase II, Phase III, Phase IV), By Study Design (Interventional Study, Observational Study, Expanded Access Study), By Region, And Segment Forecasts, 2023 - 2030

Oncology Clinical Trials Market Size, Share & Trends Analysis Report By Phase Type (Phase I, Phase II, Phase III, Phase IV), By Study Design (Interventional Study, Observational Study, Expanded Access Study), By Region, And Segment Forecasts, 2023 - 2030

Oncology Clinical Trials Market Growth & Trends

The global oncology clinical trials market size is expected to reach USD 19.49 billion by 2030, registering a CAGR of 5.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. The number of people living with cancer is predicted to rise as lung cancer is the largest cause of cancer-related deaths worldwide, with an estimated 1.8 million people diagnosed and around 60,000 new cases of renal cell carcinoma diagnosed in the U.S. each year. Furthermore, it reflects an increasing prevalence of cancer and an increasing demand for efficient cancer treatment.

The federal government plays a huge role in funding and organizing clinical research in oncology. NCI funds nearly half of all cancer trials in the U.S., and there’s a growing number of studies in phase II, leading to market growth. Moreover, according to the Medicines Healthcare Products Regulatory Agency (MHRA), between 2018 and 2022, the application for phase II and phase III trials increased by 5.5%. IQVIA announced a relationship with Cancer Researchers in September 2019 to enhance the use of real-world data and expand clinical research in oncology.

Oncology Clinical Trials Market Report Highlights

• Based on phase type, the phase III segment is expected to grow at the fastest CAGR of 5.6% during the forecast period. Phase III segment includes the high share of phase III trials, which is attributed to the fact that phase III trials are the most expensive but involve many subjects. Long-term safety studies are conducted for registration and post-marketing commitments in phase III trials
• Based on study design, the interventional studies segment accounted for the largest revenue share of 87.5% in 2022. The driving factors for interventional study design in the oncology clinical trials sector primarily revolve around these conditions' unique challenges
• North America dominated the market with a revenue share of 41.8 % in 2022 owing to the well-established pharmaceutical and drug trials regulations in the region. Asia Pacific is anticipated to grow at the fastest CAGR of 7.1% over the forecast period due to the presence of untapped opportunities in the emerging economies of China and India

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