We value your privacy and strive to enhance your experience. By continuing to browse our site, you agree to our use of cookies to offer you tailored content and seamless services.
Learn more
U.S. Clinical Trial Investigative Site Network Market Revenue to Attain USD 5.38 Bn by 2033
16 Dec 2024
Share :
U.S. Clinical Trial Investigative Site Network Market Revenue and Trends 2023 to 2033
The U.S. clinical trial investigative site network market revenue surpassed USD 3.15 billion in 2024 and is predicted to attain around USD 5.38 billion by 2033, growing at a CAGR of 6.12%. The increasing need for decentralized clinical trial processes, advances in technology, and rising research and development activities drive the growth of the market.
Market Overview
A clinical trial investigative site network (CTISN) is a connected chain of independent clinical sites that conduct clinical trials and research studies. These sites have a centralized administrative team that addresses each trial's financial, legal, safety, and data-related coordination. Similar to site management organizations (SMOs) and contract research organizations (CROs), clinical investigative site networks function as participating clinical sites, which perform trial functions such as financial management, data management, regulatory readiness, and safety reporting. A clinical research site network is a consolidated system that unites independent research sites, sponsors, and CROs to advance the clinical trial process.
The U.S. clinical trial investigative site network market is experiencing rapid growth due to rising clinical trials and increasing cases of chronic diseases. Furthermore, there is a strong emphasis on the development of novel treatments, especially in oncology, immunotherapy, and rare diseases, which is also expected to boost the demand for clinical trial investigative site networks for conducting trials. In addition, the increase in government initiatives to streamline clinical trial processes and the rising demand for precision medicines and personalized therapeutics contribute to market expansion.
Report Highlights of the U.S. Clinical Trial Investigative Site Network Market
By therapeutic area, the oncology segment dominated the market with the largest share in 2023. This is mainly due to the increase in occurrences of cancer. This significantly boosted the need for diagnosis and novel drugs. According to the National Cancer Institute, there were about 18.1 million cancer survivors in the U.S. as of January 2022. This is approximately 5.4% of the population. With the increase in cancer cases, there is a significant growth in clinical trials to determine the safety and efficacy of new and existing medications, contributing to segmental growth.
By phase, the phase III segment accounted for the largest share of the market in 2023. The segmental dominance is mainly due to the rise in complexity of trials and regulatory requirements that require additional proof before grant approvals, forcing players within the pharmaceutical industry to spend more in Phase III trials. Phase III trials are also multicenter trials carried out in several centers in different locations.
By end-use, the sponsor segment led the market in 2023. Sponsors play a central role in conducting trials. They are involved from the early stage and contribute the required funds. Companies that sponsor clinical trials are usually pharmaceutical and biotechnology firms.
Major Trends in the U.S. Clinical Trial Investigative Site Network Market
Need for Decentralized Trials: Decentralized clinical trials (DCTs) employ telemedicine, wearables, and mobile applications to streamline processes. This model increases convenience for patients by allowing them to participate in the trials remotely and eliminating issues such as travel. This approach further improves the strategies for recruitment, retention, and engagement of the beneficiaries, as well as the relevance of data collected and compliance. Virtual solutions and face-to-face sessions make it easier for the sponsors to adapt trials to the participants.
Technological Advancements: As technology evolves, clinical trials undergo several changes. Technologies like electronic data capture (EDC) and telemedicine, which reduce the chances of errors and hasten the process of data analysis, have made it easier to conduct trials. Trials with integrated advanced digital tools provide better compliance, reduce waste, and guarantee quality outcomes to meet the new needs of sponsors, regulators, and participants. Moreover, adopting electronic health records (EHRs) and data analysis in clinical trial procedures further improve patient engagement and data collection methods.
Emphasis on Patient-centric Model: There is a strong focus on patient-centric clinical trials that prioritize patients' requirements. By addressing each patient’s requirements, trials become more effective, improving trial outcomes.
U.S. Clinical Trial Investigative Site Network Market Coverage
Report Attribute
Key Statistics
Market Revenue in 2024
USD 3.15 Billion
Market Revenue by 2033
USD 5.38 Billion
CAGR
6.12% from 2024 to 2033
Quantitative Units
Revenue in USD million/billion, Volume in units
Base Year
2023
U.S. Clinical Trial Investigative Site Network Market Key Players
Access Clinical Research
FOMAT Medical Research, Inc.
SGS
ICON Plc
Meridian Clinical Research
IQVIA Inc.
Clinedge
WCG
ClinChoice
KV Clinical
SMO-Pharmina
Xylem Clinical Research
Aurum Clinical Research
Others
Market News
In July 2024, Fortrea, a US-based contract research organization, announced the launch of its artificial intelligence (AI) Innovation Studio, signaling a strategic investment in reshaping the execution of clinical trials today and into the future.
In June 2024, IQVIA Inc., a US-based company, unveiled a new clinical trial technology platform known as “One Home.” This platform is designed to streamline the management of trials by providing a single sign-on and dashboard for various tasks and systems.
Market Segmentation
By Therapeutic Areas
Oncology
CNS
Pain Management
Endocrine
Cardiology
Others
By Phase
Phase I
Phase II
Phase III
Phase IV
By End-use
Sponsor
CRO
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 804 441 9344
