The global oncology clinical trials market size reached USD 13.19 billion in 2023 and is projected to hit around USD 22.11 billion by 2033, expanding at a CAGR of 5.3% during the forecast period from 2024 to 2033.
Key Takeaways:
Oncology Clinical Trials Market Growth
The market is primarily driven by factors such as an increase in technological advancements, a rise in cancer incidences, and improvements in personalized medicine and cell and gene therapies, which are starting new approaches for developing new treatments for cancer-like diseases. Moreover, an increase in funding from pharmaceutical and biotech companies, non-profit organizations, and CROs for oncology clinical trials is further supporting market growth and the development of advanced products to gain substantial market share.
The global market is driven by the rising number of cancer patients. Lung cancer is predicted to emerge as the leading cause of cancer-related deaths worldwide, with an estimated 1.8 million people diagnosed each year. The number of cancer cases in the U.S. reached 1.9 million in 2022. In addition, pancreatic cancer has a terrible prognosis, with just 1 to 3 years of survival. The market is expected to be hindered by factors such as cultural and social challenges associated with clinical trial participation, recruitment barriers in the clinical trial process, lack of scientific knowledge, misuse of statistics and data, and complexity of study protocol, whereas mostly the study is funded and organized by the federal government.
The National Center for Biomedical Imaging (NCI) funds approximately 50% of all cancer clinical trials in the U.S., according to Mooney's description of the National Center for Biomedical Imaging Clinical Trials Cooperative Group Program. However, the COVID-19 pandemic slowed down clinical trials of oncology. Many clinical trials were postponed or delayed due to safety concerns and difficulties in recruiting participants during the pandemic.
Oncology Clinical Trials Market Report Scope
| Report Attribute | Details |
| Market Size in 2024 | USD 13.89 Billion |
| Market Size by 2033 | USD 22.11 Billion |
| Growth Rate From 2024 to 2033 | CAGR of 5.3% |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Phase type, study design, region |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Key Companies Profiled | AstraZeneca; Merck & Co. Inc.; IQVIA Inc.; Gilead Sciences, Inc.;F. Hoffmann-La Roche Ltd.; PRA Health Sciences; Syneos Health; Medpace; Novotech; Parexel International Corporation |
Segments Insights:
Phase Type Insights
Based on type, the market is segmented into phase I, phase II, phase III, and phase IV. The phase III clinical trials segment accounted for the largest revenue share of over 49% in 2023. The driving factors for the phase III segment include the high share of phase III trials, which is attributed to the fact that phase III trials are the most expensive but involve many subjects. Long-term safety studies are conducted for registration and post-marketing commitments in phase III trials. For instance, in Jul 2020, a phase III clinical trial of alpelisib in the mix with pertuzumab and trastuzumab was started by Novartis AG to assess the well-being and viability of use as a support therapy for patients with HER2-positive advanced breast cancer.
The phase I segment is estimated to register the fastest CAGR of 4.8% over the forecast period. The phase I clinical trial segment in the oncology clinical trials industry is driven by scientific, regulatory, financial, and patient-centric factors. In phase I of clinical trials, a small group of individuals (20 to 100 healthy volunteers) undergoes testing with an experimental drug or treatment.
Study Design Insights
Based on study design, the interventional studies segment accounted for the largest revenue share of around 88.9% in 2023. The driving factors for interventional study design in the oncology clinical trials sector primarily revolve around these conditions' unique challenges. Given the limited patient populations, studies must be meticulously designed to maximize the chances of detecting meaningful treatment effects.
The observational studies segment is estimated to register the fastest CAGR of 6.2% over the forecast period. Due to several driving factors, observational trial study designs play a crucial role in the oncology clinical trials industry. The scarcity of patients with oncology makes traditional randomized controlled trials challenging, making observational studies a more feasible option for assessing treatment efficacy and safety.
Regional Insights
North America dominated the market and accounted for the largest revenue share of 43% in 2023 and is expected to maintain its dominance during the forecast period due to various favorable 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. For instance, according to the U.S. Government Accountability Office, the National Institutes of Health (NIH), an agency under the Department of Health and Human Services (HHS), stands as the foremost public financier of biomedical research and development (R&D).
During the fiscal years 2018 to 2022, NIH allocated a staggering USD 99 billion for fundamental research and USD 30 billion for clinical trials and associated endeavors. Whereas, Asia Pacific is expected to grow at the fastest CAGR of 7.1% during the forecast period. This is due to the availability of a significant number of Food and Drug Administration (FDA), Therapeutic Goods Administration (TGA), and European Medicines Agency (EMA)-approved facilities in the region. Moreover, the large patient pool and low cost of conducting clinical trials in the region further support the regional market.
Oncology Clinical Trials Market Recent Developments
Some of the prominent players in the Oncology Clinical Trials Market include:
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Oncology Clinical Trials market.
By Phase Type
By Study Design
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Oncology Clinical Trials Market
5.1. COVID-19 Landscape: Oncology Clinical Trials Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Oncology Clinical Trials Market, By Phase Type
8.1. Oncology Clinical Trials Market, by Phase Type, 2024-2033
8.1.1. Phase I
8.1.1.1. Market Revenue and Forecast (2020-2033)
8.1.2. Phase II
8.1.2.1. Market Revenue and Forecast (2020-2033)
8.1.3. Phase III
8.1.3.1. Market Revenue and Forecast (2020-2033)
8.1.4. Phase IV
8.1.4.1. Market Revenue and Forecast (2020-2033)
Chapter 9. Global Oncology Clinical Trials Market, By Study Design
9.1. Oncology Clinical Trials Market, by Study Design, 2024-2033
9.1.1. Interventional Studies
9.1.1.1. Market Revenue and Forecast (2020-2033)
9.1.2. Observational Studies
9.1.2.1. Market Revenue and Forecast (2020-2033)
9.1.3. Expanded Access Studies
9.1.3.1. Market Revenue and Forecast (2020-2033)
Chapter 10. Global Oncology Clinical Trials Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.1.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.1.3.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.1.4.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.2.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.2.3.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.2.4.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.2.5.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.2.6.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.3.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.3.3.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.3.4.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.3.5.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.3.6.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.4.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.4.3.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.4.4.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.4.5.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.4.6.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.5.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.5.3.2. Market Revenue and Forecast, by Study Design (2020-2033)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Phase Type (2020-2033)
10.5.4.2. Market Revenue and Forecast, by Study Design (2020-2033)
Chapter 11. Company Profiles
11.1. Novartis
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Merck & Co.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Pfizer Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Roche
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Bristol Myers Squibb
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. AstraZeneca
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Johnson & Johnson
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Eli Lilly and Company
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. GlaxoSmithKline
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Sanofi
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers