Oncology Clinical Trials Market Size, Share, and Trends 2024 to 2033

The global oncology clinical trials market size reached USD 12.98 billion in 2023 and is projected to surpass around USD 21.65 billion by 2033, expanding at a CAGR of 5.30% from 2024 to 2033.

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Key Takeaways

• North America contributed more than 42% of revenue share in 2023.
• Asia-Pacific is estimated to expand the fastest CAGR between 2024 and 2033.
• By phase type, the phase I segment generated over 32% of revenue share in 2023. 
• By phase type, the phase III segment is anticipated to grow at a remarkable CAGR of 5.14% between 2024 and 2033. 
• By study design, the interventional studies segment generated over 88% of revenue share in 2023.
• By study design, the observational studies segment is expected to expand at the fastest CAGR over the projected period.

Oncology Clinical Trials Market in the U.S. 2024 to 2033

The U.S. oncology clinical trials market size was valued at USD 3.82 billion in 2023 and is expected to reach around USD 6.49 billion by 2033, growing at a CAGR of 5.50% from 2024 to 2033.

North America held the largest share of 42% in the oncology clinical trials market owing to a combination of factors. The region boasts advanced healthcare infrastructure, a robust research ecosystem, and a high prevalence of cancer. Additionally, stringent regulatory standards and a mature pharmaceutical industry contribute to its dominance. Key players and research institutions based in North America actively drive innovation, attracting a significant number of clinical trials. This consolidated environment, coupled with a skilled workforce, facilitates efficient trial execution, making North America a major hub for oncology clinical research and market leadership.

• As per the U.S. Government Accountability Office, the National Institutes of Health (NIH), an entity within the Department of Health and Human Services (HHS), holds the primary position as the leading public funder of biomedical research and development (R&D).

Asia Pacific is positioned for swift growth in the oncology clinical trials market. The vast and diverse population presents an opportunity for extensive participant recruitment, ensuring a more representative sample in trials. Rising cancer cases in the region highlight the demand for novel treatments. Favorable regulations, cost-effective operations, and advanced healthcare infrastructure in key nations enhance the region's appeal for conducting efficient and economical oncology clinical trials. This convergence of factors propels significant expansion in the market for cancer research in the Asia-Pacific region.

On the other hand, Europe is experiencing significant growth in the oncology clinical trials market due to various factors. The region boasts a robust research infrastructure, renowned medical institutions, and a well-established regulatory framework, fostering an environment conducive to clinical research. Increasing collaboration between academia, industry, and research organizations further accelerates trial initiation and completion. Additionally, the rising prevalence of cancer and a proactive approach towards adopting innovative treatments contribute to the surge in oncology clinical trials. This combination of factors positions Europe as a key hub for advancing cancer research and propelling substantial growth in the market.

Oncology Clinical Trials Market Overview

Oncology clinical trials represent investigative studies designed to explore innovative treatments and interventions for individuals diagnosed with cancer. These trials seek to evaluate the safety and effectiveness of emerging modalities, including pharmaceuticals, immunotherapies, and targeted treatments, with the overarching goal of advancing cancer therapeutics. Diverse participants, spanning various cancer types and stages, enroll in these trials, adhering to meticulous protocols that meticulously document treatment outcomes and potential adverse effects.

Oncology Clinical Trials Market Data and Statistics

• In the landscape of clinical trials, 2021 saw a notable setback as 1,130 research endeavors were abruptly halted due to the pervasive impact of the pandemic, as outlined by the Cancer Research Institute.
• A pivotal moment in cancer research unfolded in August 2022 when Griffith University unveiled two state-of-the-art research hubs. The Australian Cancer Research Foundation (ACRF) provided a substantial infusion of USD 4.6 million to bolster these innovative centers.
• Offering a somber perspective, the American Cancer Society projected a daunting figure of 1.9 million new cancer cases expected in the United States for 2022.
• The National Cancer Institute (NCI) remains a stalwart presence in clinical trials, orchestrating multiple programs and initiatives to provide robust support for the ongoing progress of clinical research.
• On February 2, 2022, President Biden heralded a renewed era for the Cancer Moonshot initiative, articulating ambitious objectives to curtail the cancer death rate by a minimum of 50% over the subsequent 25 years.
• Globocan's report for the year 2020 unfolded a staggering narrative, documenting a global tally of 2,206,771 fresh instances of lung cancer.
• As of August 2022, the National Clinical Trials (NCT) Registry illuminated a dynamic scene, showcasing the active recruitment efforts for 2,325 lung cancer trials, each traversing distinct phases of developmental exploration.

Growth Factors

• Advancements in technology, including enhanced diagnostic tools and advanced data analysis, play a pivotal role in shaping the realm of oncology clinical trials. These progressions not only refine the precision of patient categorization and biomarker identification but also enable real-time monitoring of treatment responses. Consequently, these technological strides significantly elevate the effectiveness and efficiency of clinical research processes.
• The increasing global incidence of cancer serves as a driving force behind the expansion of oncology clinical trials. With a growing number of individuals grappling with various types of cancer, the imperative to invest in research and development becomes more pronounced. The pursuit of novel and improved therapeutic approaches becomes paramount, making clinical trials indispensable in addressing the evolving challenges posed by diverse forms of cancer. The trend towards personalized medicine, tailoring treatments based on individual patient characteristics and genetic makeup, is fueling the growth of oncology clinical trials. By identifying specific molecular targets, these trials assess the safety and effectiveness of customized treatments designed to improve overall patient outcomes.
• A regulatory environment that supports oncology clinical trials and streamlined approval processes contributes to market growth. Initiatives aimed at simplifying trial initiation, reducing bureaucratic hurdles, and ensuring patient safety create a conducive atmosphere for researchers and organizations to engage in clinical research, promoting the expansion of the oncology trials market.
• Increasing investments by pharmaceutical companies, biotech firms, and government entities in oncology research and development are driving the expansion of clinical trials. Funding for novel therapies, drug discovery, and therapeutic innovations accelerates the pace of clinical research, fostering a positive environment for the growth of the oncology clinical trials market.

Oncology Clinical Trials Market Scope

Oncology Clinical Trials Market Dynamics

Driver: Rising cancer incidence

The increasing worldwide occurrence of cancer significantly boosts the demand for oncology clinical trials.

• According to the World Cancer Research Fund, there were an estimated 19.3 million new cancer cases globally in 2020.

As different types of cancer become more prevalent, there is a growing necessity for groundbreaking therapeutic options. This surge in demand propels pharmaceutical firms, research institutions, and healthcare entities into actively participating in extensive clinical research efforts. This surge in cancer incidence fuels a parallel rise in the need for diverse and targeted treatment options, propelling the oncology clinical trials market forward.

The trials become essential mechanisms for evaluating the safety and efficacy of emerging therapies, providing a crucial avenue for patients to access cutting-edge treatments while advancing the broader understanding of cancer biology and treatment modalities. In essence, the mounting global cancer burden underscores the pivotal role of oncology clinical trials in addressing the unmet medical needs of patients and steering the course of cancer care toward more effective and personalized solutions.

Restraint: Patient recruitment and retention challenges

Patient recruitment and retention challenges present significant restraints for the oncology clinical trials market. The meticulous criteria for enrolling eligible participants in oncology trials, given the specific characteristics and medical backgrounds required, often lead to prolonged recruitment periods. This delay not only extends the overall trial duration but also increases operational costs, hindering the timely progression of research initiatives. Additionally, the competitive landscape and the limited pool of eligible patients further exacerbate recruitment difficulties, as multiple trials vie for the same participant demographic. Retaining patients throughout the trial duration poses another formidable challenge.

Factors such as the demanding nature of oncology treatments, potential side effects, and logistical issues can contribute to patient dropout rates. High dropout rates not only impact the reliability of trial results but also necessitate additional recruitment efforts to maintain adequate sample sizes. Effectively addressing these patient recruitment and retention challenges is crucial for ensuring the successful execution of oncology clinical trials, expediting the development of new cancer therapies, and meeting the evolving demands of the market.

Opportunity: Patient-centric trial designs

Patient-centric trial designs are revolutionizing the oncology clinical trials market by placing the patient experience at the forefront, creating significant opportunities for innovation and efficiency. Embracing decentralized and virtual trial models enables greater patient participation by reducing the burden of frequent site visits. This approach not only enhances overall patient satisfaction but also broadens the pool of potential participants, improving trial diversity and representation. Furthermore, patient-centric designs prioritize outcomes that matter most to patients, fostering increased engagement and adherence.

By incorporating patient-reported outcomes and leveraging digital health technologies for remote monitoring, these designs provide a more holistic understanding of treatment effects. As the industry continues to shift towards a patient-centric paradigm, there is a unique opportunity to enhance the success and speed of oncology clinical trials, ultimately accelerating the development of novel cancer therapies that resonate with patient needs and preferences.

Phase Type Insights

The phase I segment had the highest market share of 32% in 2023. In oncology clinical trials, the phase I segment is the initial stage of testing novel therapies in humans. Phase I trials focus on assessing the safety and tolerability of experimental drugs, determining the appropriate dosage, and identifying potential side effects. A trend in Phase I oncology trials involves an increased emphasis on biomarker-driven approaches, personalized medicine, and the exploration of innovative drug combinations. This trend aims to optimize treatment efficacy while minimizing adverse effects, aligning with the broader industry shift toward precision oncology and targeted therapies.

The phase III segment is anticipated to expand at a significant CAGR of 5.14% during the projected period. In the oncology clinical trials market, phase III represents the advanced stage where experimental treatments undergo rigorous testing in a large patient population. This phase aims to confirm the effectiveness and safety of the investigational therapy compared to standard treatments. Trends in Phase III oncology clinical trials include an increasing focus on personalized medicine, with trials designed to identify biomarkers for targeted therapies. Additionally, collaborative efforts between industry and regulatory bodies aim to streamline processes and expedite the translation of promising treatments from research to clinical application.

• In July 2020, Novartis AG initiated a Phase III clinical trial investigating the combination of alpelisib with pertuzumab and trastuzumab. The trial aims to evaluate the safety and efficacy of this combination as supportive therapy for individuals with HER2-positive advanced breast cancer.

Study Design Insights

The interventional studies segment has held 88% market share in 2023. Interventional studies in the oncology clinical trials domain actively examine the impact of specific treatments on cancer outcomes. Frequently carried out through randomized controlled trials, these studies evaluate the safety and effectiveness of emerging therapies or treatment combinations. A noteworthy trend in this segment is the increasing focus on personalized medicine, tailoring treatments to individual patient characteristics. This shift towards customized interventions aims to enhance treatment outcomes and propel the field of precision oncology forward in a patient-centered approach.

The observational studies segment is anticipated to expand fastest over the projected period. Observational studies in the oncology clinical trials market involve the systematic collection and analysis of real-world data to understand the natural history of diseases, treatment outcomes, and patient characteristics. These studies observe participants in their everyday settings, providing valuable insights into the effectiveness and safety of cancer treatments outside controlled trial conditions. The trend in oncology clinical trials reflects an increasing reliance on observational studies to complement traditional trial data, offering a more comprehensive understanding of treatment patterns, long-term outcomes, and real-world patient experiences in diverse oncology settings.

Recent Developments

• In June 2022, Novartis reported positive outcomes from the Phase III RATIONALE 306 trial, revealing that tislelizumab in combination with chemotherapy significantly enhanced overall survival (OS) as a primary treatment for adult patients dealing with unresectable, locally advanced, or metastatic esophageal squamous cell carcinoma (ESCC), irrespective of their PD-L1 status.
• In March 2021, Merck Sharp & Dohme Corp. initiated a phase II clinical study to assess the safety and efficacy of the fixed-dose co-formulated pembrolizumab/quavonlimab (MK-1308A) in conjunction with lenvatinib for patients with hepatocellular carcinoma (HCC).

Oncology Clinical Trials Market Companies

• Novartis
• Merck & Co.
• Pfizer Inc.
• Roche
• Bristol Myers Squibb
• AstraZeneca
• Johnson & Johnson
• Eli Lilly and Company
• GlaxoSmithKline
• Sanofi
• AbbVie Inc.
• Celgene Corporation (now part of Bristol Myers Squibb)
• Astellas Pharma Inc.
• Daiichi Sankyo
• Takeda Pharmaceutical Company Limited

Segments Covered in the Report

By Phase Type

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

By Study Design

• Interventional Studies
• Observational Studies
• Expanded Access Studies

By Geography

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