Oncology Clinical Trials Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Global Oncology Clinical Trials Market is segmented By Phase Type (Phase I, Phase II, Phase III) By Study Design (Interventional Studies, Observational Studies, Expanded access trials) By Cancer Type (Lung Cancer, Breast Cancer, Prostrate Cancer, Skin Cancer, Others) By End User (Biopharmaceutical Companies, Academic and Research Institutes, Others) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Market Overview

Global Oncology Clinical Trials Market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing at a CAGR of YY% during the forecast period 2024-2031.

Clinical trials test new ways to find, prevent, and treat cancer. They also help doctors improve the quality of life for people with cancer by testing ways to manage the side effects of cancer and its treatment. 

Cancer clinical trials involve cancer patients to test new treatments or methods of existing treatments, such as drugs, vaccines, surgery approaches, radiation therapy, and combinations of treatments. As researchers learn more about genetic changes leading to cancer, doctors are testing treatments targeting these specific changes, potentially proving that targeted treatments may be more effective than standard treatments.

Market Scope

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Market Dynamics: Drivers & Restraints

Rise in the prevalence of cancers

The oncology clinical trials market is expected to grow during the forecast period by various factors like, an increase in cancer incidence, the demand for personalised treatments, and the pharmaceutical industry's high research and development (R&D) investment in oncology.

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.

Complicated conditions and targeted treatments 

Cancer treatment is moving toward more targeted therapies: As researchers identify cancer molecular pathways and targets, it is becoming possible to treat the target tumour regardless of the organ of origin. More targeted therapies may change which patients and cancers may benefit, since a given treatment may only impact very specific biomarkers and genetic profiles.

Segment Analysis

The global oncology clinical trials market is segmented based on phase type, study design, cancer type, end user and region.

Phase III  from the phase type segment accounted for approximately 43.3%. of the  oncology clinical trials  market share

Phase III  from the phase type segment accounted for approximately 43.3%. Phase III oncology clinical trials involve rigorous testing of experimental treatments in a large patient population to confirm their effectiveness and safety. Trends in this phase include personalized medicine, focusing on biomarkers for targeted therapies, and collaboration between industry and regulatory bodies to streamline processes and expedite the translation of promising treatments from research to clinical end user.

For instance, in January 2024, Merck announced the initiation of pivotal Phase 3 trials for four of its investigational candidates from its diverse pipeline in hematologic malignancies and solid tumors.

Geographical Analysis

North America is estimated to hold about 38.4% of the total market share throughout the forecast period

North America is estimated to hold about 38.4% of the total market share throughout the forecast period owing to factors like the favourable 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. Moreover, an increase in R&D in the area and government funding also help the region to grow during the forecast period.

For instance, in February 2024, the National Institutes of Health launched a clinical trials network to evaluate emerging technologies for cancer screening. The Cancer Screening Research Network (CSRN) will support the Biden-Harris administration’s Cancer Moonshot by investigating how to identify cancers earlier, when they may be easier to treat. Eight groups have received funding from the National Cancer Institute (NCI), part of NIH, to carry out the initial activities of the network. 

Covid 19 Impact Analysis

The COVID-19 pandemic has significantly impacted oncology care and clinical trials, leaving a lasting impact on healthcare services. Despite the disruption, the response has led to innovations and adaptations that will be valuable in the future. The pandemic has helped address inefficiencies in clinical trial conduct, such as excessive bureaucracy and patient monitoring, and has driven improvements for faster and safer trials in the future. 

Competitive Landscape

The major global players in the market include AstraZeneca, Merck & Co., Inc, Gilead Sciences, Inc, F. Hoffmann-La Roche Ltd, Syneos Health, Daiichi Sankyo Company, Eli Lilly and Company, PharmaMar, Novocure, Pfizer Inc among others.

Key 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 oesophagal 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).

Why Purchase the Report?

• To visualise the global oncology clinical trials market segmentation based on phase type, study design, cancer type, end user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analysing trends and co-development. 
• Excel data sheet with numerous data points of the oncology clinical trials market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global oncology clinical trials market report would provide approximately 64 tables, 61 figures and 186 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies