Global Oncology Clinical Trials Market Size (2024 - 2029)

Oncology Clinical Trials Market Analysis

The Global Oncology Clinical Trials Market is expected to register a CAGR of 15% during the forecast period.

The increasing number of cancer cases, the rising need for precision medicines, and high research and development (R&D) spending by the pharmaceutical industry in oncology are key factors driving the market's growth. For instance, according to Cancer Facts and Figures 2024, published in January 2024 by the American Cancer Society, an estimated 2.00 million new cancer cases were diagnosed in 2024, up from 1.93 million in 2023, among which prostate cancer cases were estimated to be 288,300, followed by 238,340 cases of lung cancer and 300,590 cases of female breast cancer. The increased prevalence of cancer and growing demand for effective treatment are likely to lead to a rise in drug development activities, thereby boosting market growth over the forecast period.

The increasing research and development spending on cancer is expected to boost the market over the forecast period. For instance, in August 2022, Griffith University took a significant step forward in cancer research by launching two new research centers with a USD 4.6 million grant from the Australian Cancer Research Foundation (ACRF). Such research initiatives and funding for cancer research programs create opportunities for market players to invest in research and bring advanced oncology drug molecules into the market, which is anticipated to boost market growth over the forecast period.

Moreover, an increase in pipeline drugs from key market players for the treatment of various cancers and the launch of clinical trials are expected to contribute to market growth over the forecast period. For instance, in January 2024, the Royal Surrey NHS Foundation Trust in the United Kingdom reported the commencement of a clinical trial analyzing a vaccine aimed at treating early-stage bowel cancer in patients from both the United Kingdom and Australia.

Similarly, in April 2024, BioNTech SE released three-year follow-up data from a Phase 1 trial on its mRNA-based personalized neoantigen-specific immunotherapy, known as iNeST, under the name autogenous cerumen (BNT122, RO7198457). This trial focused on patients who had undergone surgery for pancreatic ductal adenocarcinoma (PDAC). The results revealed that autogenous cevumeran triggered an immune response in 8 out of 16 patients, lasting up to three years, as evidenced by activated T cells. Notably, patients with sustained T cell presence also showed a prolonged median recurrence-free survival, highlighting the potential of this cancer vaccine. Such ongoing clinical research activities are expected to contribute to market growth over the forecast period.

The oncology clinical trials market is poised for growth, driven by rising cancer cases and increased research and development in oncology. However, strict regulations surrounding patient enrollment in clinical trials act as a constraint on market expansion.

Oncology Clinical Trials Industry Segmentation

As per the scope of the report, oncology clinical trials are experiments that are conducted under clinical research and follow a regulated protocol. These experiments are primarily performed to obtain data regarding the safety and efficacy of newly developed drugs. Clinical trial data is mandatory for drug approval and for it to be introduced in the market. These trials are performed under different phases, which depend upon various factors.

The oncology clinical trials market is segmented by phase, design, cancer type, and geography. By phase, the market is segmented into Phase I, Phase II, Phase III, and Phase IV. By design, the market is segmented into treatment studies and observational studies. By cancer type, the market is segmented into lung cancer, breast cancer, leukemia, prostate cancer, and other cancer types. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the market forecasts and sizes in value (USD) for the above segments.