Oncology clinical trials involve the advancement of new treatments for various cancers, and oncology is somewhat more complex than other therapeutic areas. An oncology trial not only examines the efficacy and safety of an antibiotic against infection but also tries to develop and enhance the subject's quality of life. For the management of cancer, research is progressing at a rapid pace, hence a shift has been observed for immunotherapy from chemotherapy protocols to molecularly targeted agents. Sharp growths in available clinical data, as well as a strong and growing pipeline of drug candidates, are the major trends involved in the evolution of oncology clinical trials.
COVID-19 Impact analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future owing to the demand for vaccine and treatment drugs for COVID-19. This in turn is expected to have a significant impact on the oncology clinical trials market.
Top Impacting Factors
- Increase in cases of cancer, surge in geriatric populations, rise in demand for advanced cancer treatment, supportive government initiatives, rise in need for personalized medicines, increase in cigarette smoking and obesity due to changing lifestyles increase the risk of cancer, and surge in innovation in the field of oncology are the factors that drive the growth of the oncology clinical trials market.
- In addition, partnerships & collaborations among key players to facilitate drug development; rise in R&D activities to improve quality of drugs; increase in healthcare expenditure; availability of skilled professionals; launch of the novel developed drug in market; and technological developments are some factors, which boost the oncology clinical trials market growth.
- Lack of awareness about clinical trials in patients, cultural & social issues related to trial participation, recruitment barriers in the clinical trial process, the deficiency of scientific knowledge, the misuse of statistics & data, the complexity of study protocol, and an adverse effect linked with the use of cancer drugs are a few reasons in the clinical trial process and are expected to hinder the oncology clinical trials market growth.
- Contrarily, a rise in the number of pipeline drugs & huge growth potential in untapped emerging economies present new pathways in the industry.
New product launches to flourish the market
In June 2018, Synexus and Acurian collaboratively launched SynexusPlus, it is a solution for patient enrollment in clinical studies and is expected to raise clinical trial productivity.
In September 2019, a collaboration with Cancer Researchers was declared by IQVIA to advance the use of real-world data and extend clinical research in oncology.
In Jul 2020, a phase III clinical trial of alpelisib in combination with pertuzumab and trastuzumab was commenced by Novartis AG to evaluate the safety and efficacy to use as maintenance treatment for patients with HER2-positive advanced breast cancer.
In Mar 2021, phase II clinical trial of fixed-dose co-formulated pembrolizumab/quavonlimab (MK-1308A) plus lenvatinib began by Dohme Corp. and Merck Sharp to estimate the efficacy and safety in patients with hepatocellular carcinoma (HCC).
Key Benefits of the Report
- This study presents the analytical depiction of the oncology clinical trials industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the oncology clinical trials market share.
- The current market is quantitatively analyzed to highlight the oncology clinical trials market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the oncology clinical trials market.
- The report provides a detailed oncology clinical trials market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Oncology Clinical Trials Report
- Who are the leading players active in the oncology clinical trials market?
- What is “Oncology clinical trials " Market prediction in the future?
- Who are the leading global players in the “Oncology clinical trials “Market?
- What are the current trends and predicted trends?
- What are the key benefits of the “Oncology clinical trials " Market report?
Oncology Clinical Trials Market Report Highlights
By Study Design
By Cancer Type
Key Market Players
Novartis AG,, F. Hoffmann-La Roche Ltd,, Syneos Health, PAREXEL International Corporation,, Pivotal,, Medpace, Bristol Myers Squibb company,, Merck & Co Inc.,, Novotech,, PRA Health Sciences,