Patient Recruitment and Retention Services Market Size to Expand Lucratively by 2031

Patient Recruitment and Retention Services Market worth $5.67 billion by 2031 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the " "Patient Recruitment and Retention Services Market By Therapeutic Areas (Cardiovascular Diseases, Oncological Disorders, Infectious Diseases, CNS Disorders, Respiratory Disorders, Hematological Disorders, and Others), Patient Recruitment Steps (Pre-screening and Screening), Trial Phases (Phase I, Phase II, Phase III, and Phase IV))- Trends, Industry Competition Analysis, Revenue and Forecast To 2030."
The market size for patient recruitment and retention services is estimated to be 3.73 billion in 2022 and is expected to grow at a 4.96 percent compound annual growth rate (CAGR) to reach 5.67 billion by 2031, according to the most recent analysis by InsightAce Analytic.

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Clinical trials are a tedious stage of the medication development process that must be understood in order to understand the safety and effectiveness profiles of novel therapy approaches. Among other well-known challenges, patient recruitment is regarded as one of the rate-limiting stages inthe process of bringing medications to market. Additionally, considering the overall dropout rate in clinical research, retaining individuals is a challenge. These care providers employ a variety of outreach strategies, such as real-world evidence (RWE), electronic health records (EHRs), social media, and mobile technologies.Utilizing contract service providers have been shown to expedite the patient recruiting procedure. providers employ a variety of outreach strategies, such as real-world evidence (RWE), electronic health records (EHRs), social media, and mobile technologies. have grown to be crucial to the effective execution of clinical research throughout time.
Numerous factors, such as the growing pharmaceutical and medical industries, the increase in demand for clinical studies, and the use of decentralizedclinical trials, are driving the market for clinical trial patient recruiting services. Improved patient Recruitment rates guarantee faster clinical trials and drug development, which offers medical businesses the opportunity to reduce time to market. Thus, the medical industry depends on patient recruitment and retention services. Due to the increasing complexity of clinical trials and the need for specialised patient populations for studies assessing orphan pharmaceuticals and personalised medications, several large pharmaceutical companies have outsourced their patient recruiting processes. Because of these characteristics, more developer companies are likely to follow suit.

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Nevertheless, sponsors' inability to draw in or keep patients frequently results in product release delays, which are estimated to result in an average loss. Clinical trials have been negatively impacted by the temporary closure, especially inthe area of patient recruitment. A significant number of patients have dropped out of several scientific experiments as a resultof the lockout, which has restricted patients' access to research locations.
In 2021, North America held the largest revenue share and dominated the global market. This market is expected to grow as a result of the numerous clinical research being conducted in the region. The market is growing even more because to government financing for clinical studies and significant R&D expenditures. The existence of sizable CROs offering support services like patient recruitment and the substantial investments made in clinical research by multinational pharmaceutical and biopharmaceutical companies have been credited with the expansion of the North American clinical trial patient recruitment services market. The region has become a centre for clinical trials due to its low research costs, easy regulatory compliance, expanding patient base, and a few prestigious clinical institutions acting as sites.

Major market players operating in the patient recruitment and retention services market include Acurian, BBK Worldwide, Bright Pharmaceutical Services, ClinEdge, CSSi, CTM, Evolution Research Group (ERG), Integrated Clinical Trial Services (ICTS), MMG, Veristat, WCCT Global, Antidote, Clinical Accelerator, Fidelis Research, Ignite Data, Polaris BioPharma Consulting, Raremark, Clinrol, CROee, Gitzo Medical Technology, Pacific Grove, and TrialWire.

Key developments in the market:
• In June 2022, Evolution Research Group, LLC (ERG) acquired Ohio Clinical Trials (OCT). The purchase of OCT complements ERG's objective of consistently adding personnel and services to diversify further within the brain and pain therapeutic areas and streamline clinical trial execution throughout all phases of development.
• In Jan 2022, Publicis Health announced the acquisition of BBK Worldwide (BBK). BBK allows biotech and pharmaceutical clients to speed R&D programmes by integrating patient-centric services and proprietary technology in a way that advances research, complementing Publicis Health's current CTE capabilities.
• In September 2021, Syneos Health a strategic agreement with Ride Health to provide clinical trial participants with non-emergency medical transportation (NEMT). The partnership, which is based on product integration between Ride Health and the Syneos Health patient engagement platform, will make it possible to provide a comprehensive transportation program for Syneos Health trials in the United States to increase access, easing burden, and enhancing patient retention while accelerating clinical trial recruitment for sponsors.
• In September 2020, ICON plc announced that it is launching Accellacare. This global clinical research network will provide patients with quicker access to cutting-edge treatments and give customers the option to set up decentralized trials. The site network includes MeDiNova Research in EMEA and previously purchased PMG Research in the US.

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Market Segments

Patient Recruitment and Retention Services Market, by Therapeutic Areas, 2023-2031 (Value US$ Bn)
• Cardiovascular Diseases
• Oncological Disorders
• Infectious Diseases
• CNS Disorders
• Respiratory Disorders
• Hematological Disorders
• Others

Patient Recruitment and Retention Services Market, by Patient Recruitment Steps, 2023-2031 (Value US$ Bn)
• Pre-screening
• Screening

Patient Recruitment and Retention Services Market, by Trial Phases, 2023-2031 (Value US$ Bn)
• Phase I
• Phase II
• Phase III
• Phase IV

Patient Recruitment and Retention Services Market, by Region, 2023-2031 (Value US$ Bn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Patient Recruitment and Retention Services Market, by Country, 2023-2031 (Value US$ Bn)
• U.S.
• Canada
Europe Patient Recruitment and Retention Services Market, by Country, 2023-2031 (Value US$ Bn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Patient Recruitment and Retention Services Market, by Country, 2023-2031 (Value US$ Bn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Patient Recruitment and Retention Services Market, by Country, 2023-2031 (Value US$ Bn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Patient Recruitment and Retention Services Market, by Country, 2023-2031 (Value US$ Bn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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