The Business Research Company’s report on the Patient Recruitment and Retention Services Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the patient recruitment and retention services market further?
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 November 2023, according to the Association of the British Pharmaceutical Industry, a UK-based trade association, the total number of industry-sponsored clinical trials launched in the UK each year increased slightly by 4.3%, rising from 394 trials in 2021 to 411 in 2022. Therefore, the rise in the number of clinical trials drives the patient recruitment and retention services market.
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What are the key factors influencing the forecasted market size of the patient recruitment and retention services industry?
The patient recruitment and retention services market size has grown strongly in recent years. It will grow from $4.04 billion in 2024 to $4.26 billion in 2025 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to traditional recruitment methods, growth in clinical trials and research, increased complexity of trial protocols, evolving regulatory requirements, and rise in patient-centric approaches
The patient recruitment and retention services market size is expected to see strong growth in the next few years. It will grow to $5.37 billion in 2029 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to a growing focus on diversity in clinical trials, increased outsourcing of patient recruitment services, expansion of precision medicine trials, advances in data analytics for recruitment, and emphasis on real-world evidence in trials. Major trends in the forecast period include the integration of social media in patient recruitment, the development of patient engagement platforms, the rise in virtual and decentralized trial approaches, the implementation of predictive analytics in recruitment strategies, and the customization of patient-centric trial designs.
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Who are the leading competitors in the patient recruitment and retention services market?
Major companies operating in the patient recruitment and retention services market include 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
Which emerging trends are set to transform the patient recruitment and retention services market landscape?
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.
How do different geographies compare in terms of market share and growth potential in the patient recruitment and retention services market?
North America was the largest region in the patient recruitment and retention services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the patient recruitment and retention services market report during the forecast period. The regions covered in the patient recruitment and retention services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the patient recruitment and retention services market are experiencing the fastest growth?
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
Subsegments:
1) By Pre-screening: Patient Identification, Initial Outreach and Engagement, Eligibility Questionnaire, Patient Database Review, Digital and Media Campaigns for Recruitment
2) By Screening: In-Depth Eligibility Assessment, Medical History Review, Diagnostic Testing (if required), Informed Consent Process, Clinical Trial Enrollment Confirmation
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How is the patient recruitment and retention services market defined, and what are its core characteristics?
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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