19, September 2022
Major regulatory authorities worldwide mandate pharmaceutical, biotech, and medical device companies to conduct clinical trials prior to introducing any new drug, vaccine, therapy, or product to assess their probable outcomes. However, executing these trials is a rigorous process associated with several challenges. Several solution providers focus on offering support services to contract research organizations (CROs) that help to streamline processes. Experts at Triton Market Research estimate the global clinical trials support services market will progress with a CAGR of 7.84% in the forecast period from 2022 to 2028.
Disease incidence across the globe is surging rapidly. According to National Cancer Institute, annually reported cancer cases are expected to rise from 18.1 million in 2018 to 29.5 million by 2040. This necessitates an increased focus on developing treatment modalities, which would support the growth of the studied market.
Spain ranks fourth globally in terms of conducting clinical trials. In 2020, the top therapy areas for industry-sponsored trials in the country were cancer, infectious diseases, CNS disorders, respiratory ailments, and immunological conditions. That year, 1,019 trials received approval, of which 34% of the share was captured by oncology treatment drugs.
Thailand is an emerging hotspot for organizations to perform clinical studies because of its highly developed infrastructure, universal healthcare system, and supportive policies. Besides, the nation also boasts of a highly skilled workforce and a significant presence of research-based pharmaceutical companies and CROs.
Whereas, Turkey is working to achieve global competitiveness for performing clinical research, with rising attention from international players like Bayer AG, Takeda, and Janssen Pharmaceuticals. The vast majority of the trials conducted here are in phases II and III. The capabilities of its R&D centers and the efficacy of their results, make the nation an important research hub.
These developments imply enhanced adoption of support services in Europe, the Asia-Pacific, and the Middle East and Africa in the years to come.
Clinical data management involves data collection, database design, CRF tracking & annotation, medical coding, etc. With growing data generation, it becomes essential to use data management systems to easily record data, minimize errors, and protect from data loss, among others. “Oracle Clinical,” “Macro,” “Clintrial,” and “Rave” are some systems that have gained immense popularity.
Site management systems are required for effectively monitoring research sites and ensuring continuous communication between stakeholders. Clinical Conductor, offered by Advarra Inc, is a comprehensive trial management system that aids in optimizing finances, ensuring regulatory compliance, and managing overall operations for research sites, networks, and healthcare institutions.
In September 2021, Syneos Health acquired StudyKIK, a leading clinical trial recruitment and retention company. This acquisition will further help the company to boost its ability to deliver tech-enabled, insight-powered solutions to improve patient experience.
In October 2021, Parexel and Kyoto University Hospital announced a strategic collaboration aimed at providing more opportunities for clinical research and developing efficient solutions for supporting clinical studies.In April 2022, Advanced Clinical announced its continued expansion in Europe by opening its new office in Switzerland, with a view to fully support the company’s current and new clients located in the country and also access its skilled talent pool.
Stringent guidelines are issued by supervisory bodies to ensure that medical products are safe for consumption. Sometimes, ensuring that research institutions adhere to the required standards exceeds the set timelines. These delays are a major challenge for the institutions, especially as they increase the costs incurred.
However, incorporating tech-based services and solutions for regulatory purposes has made the overall trial processes more robust and efficient by saving time and money. For instance, ICON Plc offers support services that combine its operational expertise with extensive regulatory intelligence to ensure that the trials are in sync with the latest recommendations by administrative agencies.
Further, companies and CROs are increasingly preferring Japan to conduct clinical research, as the country’s regulatory frameworks now emphasize aligning their approval timelines with those in the United States and European nations. The regulative environment in South Africa has also changed drastically in recent years, with government policies being much more supportive. These favorable developments are indicative of positive prospects for the clinical trials support services market.
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