The global oncology clinical trial market is anticipated to grow at significant CAGR during the forecast period. The market is primarily driven by the rising number of cancer cases, the demand for tailored medications, and the increase in oncology R&D activities. In addition to this, the market for oncology clinical trials is being driven by increased innovation in the field of oncology and supportive government efforts. Although cancer survivorship has grown significantly as a result of oncology research, the global number of cancer patients is predicted to rise. With an estimated 1.8 million people diagnosed each year, lung cancer is the leading cause of cancer death globally.
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Cancer treatment research is advancing at a breakneck speed. For immunotherapies, in particular, a shift from chemotherapeutic procedures to molecularly targeted medicines has been documented. Cancer continues to provide new obstacles and potential for pharmacologic treatments. As a result, the pharmaceutical sector continues to invest heavily in oncology treatment development. The evolution of clinical trials, a strong and increasing pipeline of drug candidates, and a significant increase in available clinical data are among the major trends.
Due to scientific developments in immunology, molecular biology, chemistry, cell biology, molecular, and genetics, the focus has shifted during the last several decades. Oncology trials are still at the forefront of biopharma’s efforts to create new medications. By the end of 2018, the number of drugs in clinical development for oncology had surpassed the number of compounds in clinical development for CNS illnesses. Thus the rising prevalence of cancer is driving the market growth.
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Market Coverage
- Segment Covered-
o By Phase
o By Study Design
o By Cancer Type
- Regions covered-
o North America
o Europe
o Asia Pacific
o Rest of the World
- Competitive Landscape: Exxon Mobil Corp., BASF SE, Asahi Kasei Corp., Linde, Thermo Fisher Scientific Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Oncology Clinical Trials Market by Segments
By Phase
- Phase I
- Phase II
- Phase III
- Phase IV
By Study Design
- Interventional
- Observational
By Cancer Type
- Lung cancer
- Breast cancer
- Thyroid cancer
- Leukaemia
- Other
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