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Pharmaceutical industry

Global Oncology Clinical Trials Market to Grow at 5.4% CAGR from 2021 to 2026

Strategic Insights

— 2 min read

The global oncology clinical trials market is experiencing significant growth, driven by the increasing burden of cancer worldwide, the growing role of precision and personalized medicine for cancer treatment, and the presence of big outsourcing firms in the region. According to a recent report by ResearchAndMarkets.com, the market is expected to grow at a CAGR of 5.4% from 2021 to 2026. The North American region dominates the market and is expected to continue its lead over the forecast period.

Key Takeaways:

  • The global oncology clinical trials market is expected to grow at a CAGR of 5.4% from 2021 to 2026, driven by the increasing burden of cancer worldwide and the growing role of precision and personalized medicine for cancer treatment.
  • The lung cancer segment is expected to hold significant market growth over the forecast period, with a higher risk of mortality from COVID-19 compared to other cancer types.
  • North America dominates the market and is expected to continue its lead over the forecast period, driven by the presence of big outsourcing firms, increasing R&D investments, and rising government support.
  • The United States is expected to lead the market in the North American region, with the Department of Defense and Labor, Health and Human Services, and Education Appropriations Act including USD 5.74 billion for the National Cancer Institute in FY 2019.
  • The NCI also received USD 400 million in FY 2019, for the Beau Biden Cancer Moonshot, highlighting the significant funding in the United States for cancer research and development.
  • The market is expected to be driven by the increasing demand for drug development, with the number of new cases of cancer estimated to grow from 18.1 million to 29.4 million between 2018 and 2040.
  • The report covers key topics such as the market dynamics, Porter's Five Force Analysis, and market segmentation by phase, design, cancer type, and geography.

Statistics:

  • The global oncology clinical trials market is expected to grow at a CAGR of 5.4% from 2021 to 2026.
  • The lung cancer segment is expected to hold significant market growth over the forecast period, with a higher risk of mortality from COVID-19 compared to other cancer types (33%).
  • In 2020, worldwide, there were around 2,206,771 new lung cancer cases, with 1,435,943 (14.3%) new lung cancer cases registered in men and 770,828 (8.4%) new lung cancer cases registered in women.
  • The number of new cases of cancer is estimated to grow from 18.1 million to 29.4 million between 2018 and 2040.
  • The United States is expected to lead the market in the North American region, with the Department of Defense and Labor, Health and Human Services, and Education Appropriations Act including USD 5.74 billion for the National Cancer Institute in FY 2019.

Sources:

  • ResearchAndMarkets.com
  • Journal of the National Cancer Institute
  • National Clinical Trials (NCT) Registry
  • Globocan Database
  • Canadian Cancer Statistics 2019 report
  • NCI in FY 2019
  • ResearchAndMarkets.com's "Oncology Clinical Trials Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report

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