GVR Report cover Clinical Investigate Site Network Market Size, Share & Trends Report

Clinical Investigate Site Network Market Size, Share & Trends Analysis Report By Therapeutic Area, End-user, By Region, And Segment Forecasts, 2022 To 2030

  • Report ID: GVR453174
  • Number of Pages: 0
  • Format: Electronic (PDF)

The global clinical investigative site network market is anticipated to reflect a considerable growth rate across the forecast period. The growth is due to the access to sites and the expanding global reach of clinical trials. Clinical investigative site networks, defined as a collection of independent clinical sites based on particular qualifying criteria that work as one entity, could be a new strategy for reducing the rise in R&D costs. The clinical investigative site network benefits the sponsors’ works through a single central administrative team, which cuts down on interactions and streamlines study communication instead of using numerous clinical administration offices.

A central administrative team monitors the entire network in accordance with established network protocols. The regulatory division of the central administration staff starts the process of regulatory preparedness, which entails the development of the informed consent document (ICD) and the institutional/ethical review board (IRB) review procedure. Networks frequently use a central IRB for the network's whole membership, which must adhere to 21 CFR 56.

Clinical trials were placed on hold as the pandemic started in order to slow its spread. However, due to the urgent need for vaccines, diagnostics, and therapies, the clinical trials were restarted by employing social distancing techniques. To support the clinical trials of COVID-19 vaccines and treatments, public organizations across the globe invested much in research and development. For instance, the Oxford/AstraZeneca COVID-19 vaccine's development received USD 119.1 million from the U.K. government as of February 2022. This is expected to have a positive impact on clinical investigative site network market.

The oncology segment is anticipated to hold the highest market share in the clinical investigative site network market owing to increasing research on novel cancer drug therapies. The major driver of the segment's growth is the disease's high prevalence, which increases the demand for research on it. The incidence of cancer is also rising as a result of a sedentary lifestyle, which increases the need for cancer trials in research.

The clinical investigative site network market in Asia Pacific is expected to witness the most lucrative growth in the forecast period, owing to the ease of regulatory compliance, low study costs, and increasing patient population. Furthermore, the region has become a hotspot for conducting clinical trials. For instance, a total of 125,918 registered clinical trials were conducted in Asia, according to a 2019 NIH study. These composed around 28.5% of all clinical trials that were registered. In Asia, Japan hosted (30.8%) of the trials, followed by China (21.1%) and India (14.3%).

The key market players include ICON plc, MERIDIAN CLINICAL RESEARCH, IQVIA Inc., Clinedge, WCG, ClinChoice, Access Clinical Research, FOMAT Medical Research INC., SGS, KV Clinical, SMO-Pharmina, Xylem Clinical Research, Aurum Clinical Research. They are adopting various strategies like merger and acquisition, collaboration, and expansion. For instance, Meridian clinical research, a leading multi-specialty investigative research network acquired Sterling Research Group. With the addition of the three Cincinnati locations belonging to Sterling, the company currently has 27 locations nationwide.

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