Oncology Clinical Trials Market Size, Share & Trends Analysis Report By Phase Type (Phase I, Phase II, Phase III, Phase IV), By Study Design (Interventional Study, Observational Study, Expanded Access Study), By Region, And Segment Forecasts, 2023 - 2030

Oncology Clinical Trials Market Size & Trends

The global oncology clinical trials market size was estimated at USD 12.92 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.2% from 2023 to 2030. The market is primarily driven by factors such as an increase in technological advancements, a rise in cancer incidences, and improvements in personalized medicine and cell and gene therapies, which are starting new approaches for developing new treatments for cancer-like diseases. Moreover, an increase in funding from pharmaceutical and biotech companies, non-profit organizations, and CROs for oncology clinical trials is further supporting market growth and the development of advanced products to gain substantial market share.

The global market is driven by the rising number of cancer patients. Lung cancer is predicted to emerge as the leading cause of cancer-related deaths worldwide, with an estimated 1.8 million people diagnosed each year. The number of cancer cases in the U.S. reached 1.9 million in 2022. In addition, pancreatic cancer has a terrible prognosis, with just 1 to 3 years of survival. The market is expected to be hindered by factors such as cultural and social challenges associated with clinical trial participation, recruitment barriers in the clinical trial process, lack of scientific knowledge, misuse of statistics and data, and complexity of study protocol, whereas mostly the study is funded and organized by the federal government.

The National Center for Biomedical Imaging (NCI) funds approximately 50% of all cancer clinical trials in the U.S., according to Mooney's description of the National Center for Biomedical Imaging Clinical Trials Cooperative Group Program. However, the COVID-19 pandemic slowed down clinical trials of oncology. Many clinical trials were postponed or delayed due to safety concerns and difficulties in recruiting participants during the pandemic.

Phase Type Insights

Based on type, the market is segmented into phase I, phase II, phase III, and phase IV. The phase I clinical trials segment accounted for the largest revenue share of over 30.0% in 2022. The phase I clinical trial segment in the oncology clinical trials industry is driven by scientific, regulatory, financial, and patient-centric factors. In phase I of clinical trials, a small group of individuals (20 to 100 healthy volunteers) undergoes testing with an experimental drug or treatment.

The phase III segment is estimated to register the fastest CAGR of 5.6% over the forecast period. The driving factors for the phase III segment include the high share of phase III trials, which is attributed to the fact that phase III trials are the most expensive but involve many subjects. Long-term safety studies are conducted for registration and post-marketing commitments in phase III trials. For instance, in Jul 2020, a phase III clinical trial of alpelisib in the mix with pertuzumab and trastuzumab was started by Novartis AG to assess the well-being and viability of use as a support therapy for patients with HER2-positive advanced breast cancer.

Study Design Insights

Based on study design, the interventional studies segment accounted for the largest revenue share of around 87.6% in 2022. The driving factors for interventional study design in the oncology clinical trials sector primarily revolve around these conditions' unique challenges. Given the limited patient populations, studies must be meticulously designed to maximize the chances of detecting meaningful treatment effects.

The observational studies segment is estimated to register the fastest CAGR of 6.1% over the forecast period. Due to several driving factors, observational trial study designs play a crucial role in the oncology clinical trials industry. The scarcity of patients with oncology makes traditional randomized controlled trials challenging, making observational studies a more feasible option for assessing treatment efficacy and safety.

Regional Insights

North America dominated the market and accounted for the largest revenue share of 41.8% in 2022 and is expected to maintain its dominance during the forecast period due to various favorable reimbursement policies and the presence of major market players in the region, leading to investment and the development of innovative products. Also, the U.S. FDA has a fast-track approval process for drugs that treat cancer. For instance, according to the U.S. Government Accountability Office, the National Institutes of Health (NIH), an agency under the Department of Health and Human Services (HHS), stands as the foremost public financier of biomedical research and development (R&D).

During the fiscal years 2017 to 2021, NIH allocated a staggering USD 97 billion for fundamental research and USD 28 billion for clinical trials and associated endeavors. Whereas, Asia Pacific is expected to grow at the fastest CAGR of 7.1% during the forecast period. This is due to the availability of a significant number of Food and Drug Administration (FDA), Therapeutic Goods Administration (TGA), and European Medicines Agency (EMA)-approved facilities in the region. Moreover, the large patient pool and low cost of conducting clinical trials in the region further support the regional market.

Key Companies & Market Share Insights

The oncology clinical trials industry is highly competitive, with a large number of manufacturers accounting for most of the market share. Phase launches, approvals, strategic acquisitions, partnerships, and technological innovations are just a few of the important business strategies used by market participants to maintain and grow their global reach.

Oncology Clinical Trials Market Report Scope

Global Oncology Clinical Trials Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global oncology clinical trials market report based on phase type, study design and region:

• Phase Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Phase I

  • Phase II

  • Phase III

  • Phase IV

• Study Design Outlook (Revenue, USD Million, 2018 - 2030)

  • Interventional Studies

  • Observational Studies

  • Expanded Access Studies

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait