Market Trends of Clinical Trials Support Services Industry
Phase III Segment is Expected to Witness a Significant Growth During the Forecast Period
Clinical trials in phase III test the novel treatment's efficacy and safety to the accepted standard of care. Phase III trials are primarily concerned with proving and confirming the preliminary data from the earlier trials that the drug is a safe, useful, and effective treatment for the specified indication. These phase III clinical trials are done to evaluate the comparative effect of the new medication over the previous medications available or conducted to confirm and expand on safety and effectiveness results from phase I and II trials.
The National Clinical Trial (NCT) Registry data, updated on clinical trial. gov in November 2022, reported that globally, there are around 12,136 clinical trials in the phase III stage for various indications. The high number of ongoing phase III clinical trials is expected to contribute to the segment's growth during the forecast period.
Strategic partnerships and agreements between key market players are also contributing to the growth of this segment. For instance, in October 2022, Sanofi entered an agreement with the New York-based TrialSpark, which offers a technology-based model for drug development. The partnership will focus on pursuing the acquisition or in-licensing and development of clinical-stage phase II and phase III drug candidates in areas of high and unmet patient needs. Such initiatives of the acquisition of in-licensing activities may lead to the development of more candidates in phase III, driving the segment's growth.
In June 2022, AION Labs, in partnership with BioMed X, launched the Fourth Global Call for Application: Prediction of Clinical Trial Outcome in Cancer Patient Populations. AION Labs' fourth start-up will focus on the development of an AI platform that optimizes the patient population for clinical phase III studies by identifying biomarkers within the existing single-arm early phase I/II data. Such platforms are expected to drive the segment's growth due to the optimization of patients in phase III trials.
Thus, due a high number of clinical trials reported in the phase III segment and the increasing partnerships between key market players, the segment is expected to witness significant growth over the forecast period.
North America is Expected to Witness Significant Growth During the Forecast Period
North America is expected to witness significant growth over the forecast period due to the maximum number of pharmaceutical firms based in the United States to conduct most of their business and clinical trials, increasing R&D investments, and growing demand for drug development. The increasing clinical studies in the region due to the presence of key market players are also driving the market's growth. For instance, in June 2022, Walgreens launched a clinical trial service to provide pharmaceutical companies with patient recruitment and enrollment services.
The collaborations, partnerships, and mergers between key market players are driving the growth of the market in the region. For instance, in June 2022, Pfizer, MorphoSys, and Incyte entered a clinical trial collaboration and supply agreement to investigate the immunotherapeutic combination of Pfizer's TTI-622, a novel SIRPα-Fc fusion protein and Monjuvi (tafasitamab-cxix) plus lenalidomide in patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL). Thus, such collaborations are driving the growth of the market in the region.
The prevalence of diseases, such as osteoarthritis, has increased significantly in Canada, which is propelling the growth of the market in the region. For instance, a report commissioned by the Arthritis Community Research and Evaluation Unit (ACREU), Canada, reported that around 15% of Canadians aged 20 years and above had osteoarthritis. The report further stated that more than 4 million Canadians, or about 1 in every 7 adults, have osteoarthritis in Canada. Thus, the high burden of orthopedic disorders is expected to boost the demand for the availability and development of therapeutics or medical devices, ultimately garnering clinical trials for the same, which may fuel the overall market's growth.
The increasing cases of infectious diseases is creating a major healthcare burden in Mexico, which is also consistently driving the growth of the market. For instance, an article published in May 2021 reported that the overall seroprevalence of anti-DENV (dengue virus) IgG at enrolment was 19.4%, with the highest seroprevalence rate observed in the adult group in Mexico. Such instances indicate the high prevalence of dengue in the country, which increases the demand for the development of dengue vaccines following clinical trials.
Thus, the increasing cases of chronic and infectious diseases and increased demand for clinical trials, coupled with partnerships between the key market players in the region, are anticipated to significantly boost the growth of the North American clinical trials support services market during the forecast period.
