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Patient Recruitment and Retention Services Market Size, Future Trends, Key Growth Drivers, Share Analysis And Forecast To 2033
Patient Recruitment and Retention Services Market
The patient recruitment and retention services market size is expected to see strong growth in the next few years. It will grow to $4.96 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to growing focus on diversity in clinical trials, increased outsourcing of patient recruitment services, expansion of precision medicine trials, advances in data analytics for recruitment, emphasis on real-world evidence in trials. Major trends in the forecast period include integration of social media in patient recruitment, development of patient engagement platforms, rise in virtual and decentralized trial approaches, implementation of predictive analytics in recruitment strategies, customization of patient-centric trial designs.
Market Overview -
Patient recruitment and retention services refer to identifying and enrolling eligible participants with designed strategies and tactics to keep participants enrolled in clinical trials. It is used for clinical trials to complete the drug development cycle.
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Clinical Trials Surge Unveiling The Boom In Patient Recruitment And Retention Services
The rise in the number of clinical trials is driving the growth of the patient recruitment and retention services market. Clinical trials refer to a field of study that examines novel procedures and medications and assesses how they affect people's health results. Patient retention and recruitment services help to identify and register eligible participants in the study and support the development of clinical trials, as a result, the rise in the number of clinical trials increases the demand for the patient recruitment and retention services market. For instance, in February 2023, according to the World Health Organization, a US-based health organization, the number of clinical trials in Southeast Asia increased from 9,175 in 2020 to 10,966 in 2021. Additionally, the number of clinical trials in Europe increased from 17,161 in 2020 to 17,756 in 2021. Therefore, the rise in the number of clinical trials drives the patient recruitment and retention services market.
Competitive Landscape -
Major companies operating in the patient recruitment and retention services market report are IQVIA Holdings Inc, ICON PLC, Veradigm Inc., Medpace Holdings Inc., Worldwide Clinical Trials Inc., Bioclinica Inc., Altasciences, BMC Group, Evolution Research Group (ERG), Science37, Veristat LLC, Elligo Health Research Inc., CROee Inc., MMG (Matthews Media Group), Linical Co. Ltd, Global AES, Bright Pharmaceutical Services Inc., Clinrol, Antidote Technologies Inc., Ignite Data Solutions, BBK Worldwide LLC, Integrated Clinical Trial Services (ICTS) Inc., Syneos Health Inc., 3H Medi Solution Co. Ltd., Fidelis Research Ltd., S4 Research Pvt. Ltd, Clinical Accelerator Ltd., Polaris BioPharma Consulting Ltd, CSSi Lifesciences
Technological Advancements In The Patient Recruitment Services Market
Technological advancements are a key trend gaining popularity in the patient recruitment and retention services market . Major companies operating in the patient recruitment and retention services market are introducing technologically advanced products to sustain their position in the market. For instance, in March 2023, Aloha Health Network, a US-based artificial intelligence platform, launched an augmented AI/ML platform to accelerate patient recruitment in pharmaceutical clinical trials. The new service uses cutting-edge natural language processing (NLP) algorithms to find and pre-screen potential clinical trial volunteers using a variety of structured and unstructured data points, including electronic medical records and medical histories.
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Key Segments -
The patient recruitment and retention services market covered in this report is segmented -
1) By Patient Recruitment Steps: Pre-screening, Screening
2) By Trial Phases: Phases I, Phases II, Phases III, Phases IV
3) By Therapeutic Areas: Cardiovascular Diseases, Oncological Disorders, Infectious Diseases, Central Nervous System Disorders, Respiratory Disorders, Hematological Disorders, Other Disorders
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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