The Patient Recruitment and Retention Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Patient Recruitment and Retention Services Global Market Report 2024, The patient recruitment and retention services market size has grown strongly in recent years. It will grow from $3.78 billion in 2023 to $4.01 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. 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, 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 $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.
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.
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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
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.
The patient recruitment and retention services market report table of contents includes:
1. Executive Summary
2. Patient Recruitment and Retention Services Market Characteristics
3. Patient Recruitment and Retention Services Market Trends And Strategies
4. Patient Recruitment and Retention Services Market – Macro Economic Scenario
5. Global Patient Recruitment and Retention Services Market Size and Growth
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26. South America Patient Recruitment and Retention Services Market
27. Brazil Patient Recruitment and Retention Services Market
28. Middle East Patient Recruitment and Retention Services Market
29. Africa Patient Recruitment and Retention Services Market
30. Patient Recruitment and Retention Services Market Competitive Landscape And Company Profiles
Top Major Players:
- IQVIA Holdings Inc
- ICON PLC
- Veradigm Inc
- Medpace Holdings Inc
- Worldwide Clinical Trials Inc
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