Oncology Clinical Trial Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.40 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Oncology Clinical Trial Market Analysis
The global oncology clinical trials market is expected to witness a CAGR of 5.4% during the forecast period (2022-2027).
The COVID-19 pandemic had a potential economic impact and implications on most sectors, including the pharmaceutical and biotech industries. COVID-19 had a notable impact on the oncology clinical trials market because cancer clinical trial numbers were decreased for preventing the spread of the virus. The Cancer Research Institute showed that 1,130 clinical trials were stopped in 2021 due to the spread of the pandemic. Moreover, the article published in 2022 under the title 'The impact of COVID-19 on cancer care and oncology clinical research: an experts' perspective' stated that due to the COVID-19 pandemic's exposure to the underrepresentation of minority groups in clinical trials, a method for improving the generalizability of efficacy and outcome data in oncology clinical trials was proposed. Hence, a new problem-focused collaborative framework between decision-makers and stakeholders in oncology trials to exploit and speed up the novel clinical research strategies created during the COVID-19 epidemic. Thus owing to the above-mentioned factors COVID-19 had a significant impact on the oncology clinical trial market.
The rising number of cancer cases, the need for personalized medicines, and the high research and edvelopment (R&D) spending of the pharmaceutical industry for oncology are some of the key factors driving the market growth. For instance, in August 2022 Griffith University launched two cancer research centers backed by USD 4.6 million in funding from the Australian Cancer Research Foundation (ACRF).
It has also been found that there are many unmet clinical needs in emerging countries, due to the high burden of cancer. For instance, according to the American Cancer Society, the incidence of cancer cases is anticipated to be 1.9 million in the United States in 2022. The growth of the studied market is attributed to the favorable government and non-government initiatives supporting cancer research. For instance, National Cancer Institute (NCI) is running several clinical trial programs and initiatives to support clinical research. Thus, the research for treating cancer is moving forward at a rapid pace. On February 2, 2022, United States President Biden announced a reignition of the Cancer Moonshot, highlighting new goals, to reduce the death rate from cancer by at least 50% over the next 25 years.
Increased cancer cases, and rise in research and development in the field of oncology boost the oncology clinical trials market and is expected to witness a growth over the forecast period. However, market growth is restrained by strict regulations regarding patient enrollment in clinical trials.
Oncology Clinical Trial Market Trends
This section covers the major market trends shaping the Oncology Clinical Trials Market according to our research experts:
Lung Cancer Segment is Expected to Hold Significant Market Growth Over the Forecast Period
The COVID-19 pandemic had a dramatic impact on the area of oncology, including the challenging management of cancer patients during the chaotic period. COVID-19 directly impacts the lungs and damages the alveoli. A research article published in 2020 in the Journal of the National Cancer Institute stated that cancer patients who were affected by COVID-19 had more risk of mortality compared to non-cancer patients. Additionally, according to the National Clinical Trials (NCT) Registry 2020, during the COVID-19 pandemic, lung cancer treatment, diagnosis, and subsequent management have been affected. As per the factors mentioned, COVID-19 had a significant impact on the lung cancer segment.
Lung cancer is caused by the uncontrolled growth of abnormal cells that multiply in one or both lungs. Two major types of lung cancer are non-small cell lung cancer and small cell lung cancer. The reasons for lung cancer include smoking, second-hand smoke, exposure to certain toxins, and family history. Furthermore, according to the report from Globocan, around 2,206,771 new lung cancer cases were reported in 2020.
Besides, according to the National Clinical Trials (NCT) Registry, around 2,325 clinical trials are currently recruiting in the field of lung cancer across the various phases of development as of August 2022. The positive outcome of these clinical trials is expected to show a positive impact on the market in the future. Thus, owing to the factors mentioned above, it is expected to drive market growth over the forecast period.
North America Dominates the Market and is Expected to do the Same Over the Forecast Period
In the North American region, COVID-19 had a crucial impact on the oncology clinical trial market because clinical trials related to cancer were suspended or terminated due to COVID-19. In the United States, some biopharmaceutical companies, such as Merck & Co. Inc. and Eli Lilly and Company, announced clinical trial delays. Additionally, data from ClinicalTrials.gov showed that more than 200 interventional oncology studies were suspended in March and April of 2020 due to the COVID-19 crisis.
In the North American region, the United States is expected to lead the market, and it is mainly due to factors, such as increasing research and development (R&D) investments, rising government support, and the high incidence of cancer population. For instance, according to a report from the American Cancer Society, the number of people newly affected with cancer in 2021 was 608,570 whereas in 2022 it is estimated to be 1,918,030.
Moreover, with the increase in cancer cases, the number of clinical trials is expected to rise in the coming few years. For instance, according to the National Clinical Trials (NCT) Registry in the United States, there are around 7, 945 ongoing clinical trials related to cancer across the various phases of development as of August 2022. Thus, considering above mentioned factors, North American is likely to face a healthy growth over the forecast period.
Oncology Clinical Trial Industry Overview
The oncology clinical trials market is fragmented and competitive. The major pharmaceutical companies are found to make enormous investments in R&D, especially in emerging nations, to gain opportunities for market growth in the major regions. The strategic partnerships between pharmaceutical companies and CROs are expected to have a significant impact on the market's growth. Some major market players include Novartis AG, Merck & Co. Inc., Bristol Myers Squibb Company, F Hoffmann-La Roche Ltd, and Pfizer Inc.
Oncology Clinical Trial Market Leaders
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Novartis AG
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Merck & Co Inc.
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F Hoffmann-La Roche Ltd
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Pfizer Inc.
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Bristol Myers Squibb Company
*Disclaimer: Major Players sorted in no particular order
Oncology Clinical Trial Market News
- In June 2022, Novartis announced results from the Phase III RATIONALE 306 trial showing tislelizumab plus chemotherapy significantly improved overall survival (OS) as a first-line treatment for adult patients with unresectable, locally advanced, or metastatic esophageal squamous cell carcinoma (ESCC), regardless of PD-L1 status.
- In March 2021, Merck Sharp & Dohme Corp. started a phase II clinical trial to evaluate the safety and efficacy of fixed-dose co-formulated pembrolizumab/quavonlimab (MK-1308A) plus lenvatinib in patients with hepatocellular carcinoma (HCC).
Oncology Clinical Trial Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growing Burden of Cancer Worldwide
- 4.2.2 Increasing Role of Precision and Personalized Medicine for Cancer Treatment
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4.3 Market Restraints
- 4.3.1 Stringent Regulations for Patient Enrollment
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4.4 Industry Attractiveness - Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Buyers/Consumers
- 4.4.2 Bargaining Power of Suppliers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
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5.1 By Phase
- 5.1.1 Phase I
- 5.1.2 Phase II
- 5.1.3 Phase III
- 5.1.4 Phase IV
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5.2 By Design
- 5.2.1 Treatment Studies
- 5.2.2 Observational Studies
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5.3 By Cancer Type
- 5.3.1 Lung Cancer
- 5.3.2 Breast Cancer
- 5.3.3 Leukemia
- 5.3.4 Prostate Cancer
- 5.3.5 Other Cancer Types
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle-East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle-East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Johnson & Johnson
- 6.1.2 Pfizer Inc
- 6.1.3 F Hoffmann-La Roche Ltd
- 6.1.4 Novartis AG
- 6.1.5 Merck & Co. Inc.
- 6.1.6 GlaxoSmithKline PLC
- 6.1.7 Sanofi
- 6.1.8 AbbVie Inc.
- 6.1.9 AstraZeneca PLC
- 6.1.10 Bristol Myers Squibb company
- 6.1.11 Eli Lilly and Company
- 6.1.12 Astellas Pharma Inc.
- 6.1.13 Boehringer Ingelheim GmbH
- 6.1.14 Takeda Pharmaceutical Company Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Oncology Clinical Trial Industry Segmentation
As per the scope of the report, oncology clinical trials are experiments that are conducted under clinical research and follow a regulated protocol. These experiments are primarily performed to obtain data regarding the safety and efficacy of newly developed drugs. Clinical trial data is mandatory for drug approval and for it to be introduced in the market. These trials are performed under different phases, which depend upon various factors. The Oncology Clinical Trials Market is Segmented by Phase (Phase I, Phase II, Phase III, and Phase IV), Design (Treatment Studies and Observational Studies), Cancer Type (Lung Cancer, Breast Cancer, Leukemia, Prostate Cancer, and Other Cancer Types), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Phase | Phase I | |
| Phase II | ||
| Phase III | ||
| Phase IV | ||
| By Design | Treatment Studies | |
| Observational Studies | ||
| By Cancer Type | Lung Cancer | |
| Breast Cancer | ||
| Leukemia | ||
| Prostate Cancer | ||
| Other Cancer Types | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle-East and Africa | GCC |
| South Africa | ||
| Rest of Middle-East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Oncology Clinical Trial Market Research FAQs
What is the current Global Oncology Clinical Trials Market size?
The Global Oncology Clinical Trials Market is projected to register a CAGR of 5.40% during the forecast period (2024-2029)
Who are the key players in Global Oncology Clinical Trials Market?
Novartis AG, Merck & Co Inc., F Hoffmann-La Roche Ltd, Pfizer Inc. and Bristol Myers Squibb Company are the major companies operating in the Global Oncology Clinical Trials Market.
Which is the fastest growing region in Global Oncology Clinical Trials Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Oncology Clinical Trials Market?
In 2024, the North America accounts for the largest market share in Global Oncology Clinical Trials Market.
What years does this Global Oncology Clinical Trials Market cover?
The report covers the Global Oncology Clinical Trials Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Oncology Clinical Trials Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Oncology Clinical Trial Industry Report
Statistics for the 2024 Oncology Clinical Trial market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Oncology Clinical Trial analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
