Oncology Clinical Trial Market: Introduction

Oncology clinical trials includes the development of new treatments for various cancers. Oncology is somewhat more complicated than other therapeutic areas. Rather than running a clinical trial to test the safety and efficacy of an antibiotic against an infection, an oncology trial also tries to extend and improve the subject's quality of life.

 Key Drivers and Restraints of Global Oncology Clinical Trial Market

  • Cancer has a major impact on society across the world. It is one of the leading causes of death across the globe and is more prevalent in developed and emerging markets. According to American Cancer Society data, over 1.7 million new cancer cases are expected to be diagnosed in 2019 in the U.S. According to information published in the European Journal of Cancer, an estimated 3.9 million new cases of cancer and 1.9 million deaths due to the disease were reported in Europe in 2018.
  • Increased R&D spending on cancer also fuels the market. Revenue from cancer drugs after their FDA approval is considerably higher than spending for research & development. Governments are also taking initiatives to invest in research of various oncology drugs along with R&D funding from several companies. Total investment in medical and health research and development (R&D) in the U.S. increased by 6.4% from 2017 to 2018, reaching a value of US$ 194.2 billion.
  • Recruitment obstacles in clinical trial process may hamper the market. Several international studies investigating the issues in recruitment have put forth strategies such as piloting the recruitment process, financial and educational incentives for clinicians, newsletter and reminders for patients, open- versus placebo-controlled trials, assistance with patient travel, and networking with various healthcare professionals. Lack of awareness about clinical trials in patients, social and cultural issues related to trial participation, and complexity of study protocol are a few reason behind recruitment obstacles in the clinical trial process.

Phase II Dominated Global Oncology Clinical Trial Market

  • Based on phase, the global oncology clinical trial market can be divided into Phase I, Phase II, Phase III, and Phase IV
  • The phase II segment held a prominent share of the global market in 2019. Conventional seamless phase II design with fixed sample size determination (SSD) has gained popularity in oncology drug development due to attractive features such as significantly shortening the development timeline, minimizing sample size as well as early decision making. According to an article published in Haymarket Media, Inc. in September 2020, results from a phase II study of 3 oral targeted agents for chronic lymphocytic leukemia (CLL) showed that patients achieved deep remissions after a limited-time duration treatment. The study was also published in the Journal of Clinical Oncology, which included both treatment-naive patients and those with recurrent/relapsed disease.

Interventional Segment Witnessed Significant Expansion

  • Based on study design, the global oncology clinical trial market can be divided into interventional, observational, and expanded access
  • The interventional segment accounted for a notable share of the global market in 2019. In interventional studies, participants are assigned prospectively to an intervention or interventions according to a protocol to evaluate the effect of the intervention(s) on biomedical or other health related outcomes. It is a highly prominent method used in clinical trials.
  • However, the expanded access segment is projected to expand at a significant CAGR during the forecast period. An investigational drug product (including biological product) is available through expanded access for patients who do not qualify for enrollment in a clinical trial.

Lung Cancer Segment to Dominate Global Oncology Clinical Trial Market

  • Based on cancer type, the global oncology clinical trial market can be segregated into lung cancer, breast cancer, thyroid cancer, leukemia, liver cancer, skin cancer, lymphoma, pancreatic cancer, prostate cancer, colon & rectal cancer, urinary system cancer, and other cancer
  • In terms of revenue, the lung cancer segment held a considerable share of the global market in 2019, followed by the breast cancer segment. Lung and breast cancers were highly common cancers, worldwide, each contributing 12.3% of the total number of new cases diagnosed in 2018. In China, the incidence and mortality of lung cancer has gradually increased over the last 30 years, and this trend is expected to continue. Numerous clinical studies on lung cancer were carried out in 2018. In particular, significant progress has been made in immunotherapy and targeted therapy.

North America to Dominate Global Oncology Clinical Trial Market

  • In terms of region, the global oncology clinical trial market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • In terms of revenue, North America dominated the oncology clinical trial market. Increase in incidence of cancer, rise in number of FDA approvals, and numerous product launches in the U.S. contribute to the leading share held by the region. Surge in investment by companies also fuels the market in North America. According to the American Cancer Society, 1,806,590 new cancer cases and 606,520 cancer deaths are likely to be recorded in the U.S. in 2020.
  • The oncology clinical trial market in Asia Pacific is anticipated to be driven by countries such as India and China. Rise in the number of target patients, increase in healthcare expenditure, and investments by various companies in research & development fuel the market in the region. In January 2019, CStone Pharmaceuticals announced that the National Medical Products Administration (NMPA) recently approved the clinical trial application (CTA) to start a phase I clinical trial in China for BLU-554 (CS3008), an inhibitor of fibroblast growth factor receptor 4 (FGFR4) discovered by the company's partner, Blueprint Medicines.

Key Manufacturers Operating in Market

The global oncology clinical trial market was highly fragmented in 2019. Key manufacturers operating in the global market are:

  • PAREXEL International Corporation
  • PRA Health Sciences
  • Syneos Health
  • Medpace
  • Novotech
  • Pivotal

Oncology Clinical Trial Market: Research Scope

Oncology Clinical Trial Market, by Phase

  • Phase I
  • Phase II
  • Phase III
  • Phase IV

Oncology Clinical Trial Market, by Study Design

  • Interventional
  • Observational
  • Expanded Access

Oncology Clinical Trial Market, by Cancer Type

  • Lung cancer
  • Breast cancer
  • Thyroid cancer
  •  Leukemia
  • Liver cancer
  • Skin cancer
  •  Lymphoma
  • Pancreatic cancer
  • Prostate cancer
  • Colon & rectal cancer
  •  Urinary system cancer
  • Other cancer

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Oncology Clinical Trial Market