Global Patient Recruitment and Retention Services Market: Overview
An online newsletter ‘Biopharma Dive’ published an article on the challenges in patient recruitment and retention services and their and possible resolutions. The article focuses on the interoperability, usability, and connectivity of various domains within medical research. Furthermore, the need for integrating research schedules with points of care is also included therein. Patient recruitment and retention services are, thereby, gaining attention of several analysts of the healthcare industry. The need for ensuring regular inflow of medical insights in the healthcare industry has also popularized this procedure.
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Clinical trial follows a series of testing and safety checks to ensure sound development of drugs. Several medical research institutes have made tall claims about the integrity and safety of their process of drug development. The assertive claim of these institutes is backed by robust procedures for clinical trials followed by them. It is expected that the domains of drug development, disease testing, and diagnosis would become top-notch priorities of the medical research fraternity. Owing to the factors stated above, the global patient recruitment and retention services market is set to grow by leaps and bounds.
A report by Transparency Market Research (TMR) on the global patient recruitment and retention services market compares and contrasts several trends pertaining to market growth. The global patient recruitment and retention services market can be segmented on the basis of the following parameters: application and region. On the basis of application, the use of patient recruitment and retention services in drug development and testing is expected to gather momentum.
Global Patient Recruitment and Retention Services Market: Notable Developments
The need for improved medical testing and analysis has generated a multitude of opportunities within the global patient recruitment and retention services market. Some of the key developments that have taken shape in this market are:
- Icon Public Limited Company can expect an 8.5% upside down on the USA broker ratings, as revealed by a recent study. The company currently has a market cap of $8,384m. Icon Plc has made conscious efforts to improve its testing and trial services. Apart from patient recruitment and retention services, the company also cover clinical pharmacology, patient centric monitoring, and virtual trial services.
- EndBrainCancer Initiative (EBCI) is asking for support in the FDA’s new set of guidelines related to clinical trial enrolments. The initiative focuses on advocating better interactions with patients suffering from rare diseases including brain cancer. This move is expected to generate new opportunities for growth within the global patient recruitment and retention services market.
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Some of the leading vendors in the global patient recruitment and retention services market are:
- Abnex, Allscripts
- Access Clinical Research
- Accurate Clinical Research
- AD VERBUM
Global Patient Recruitment and Retention Services Market: Growth Drivers
- Educating People about the Value of Clinical Trials
Medical companies in the U.S. are required to submit their applications for clinical trials and pharmaceutical breakthroughs to the food and drugs administration (FDA). This mandates strict procedures during clinical trials and drug development. Hence, the global patient recruitment and retention services market is slated to expand at a starry rate in the coming years.
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- Reducing Time to Market for Medical Companies
Improved rate of patient recruitment ensures faster clinical trials and drug development. This gives medical companies an opportunity to reduce their time to market. Hence, there is tremendous relevance of patient recruitment and retention services across the medical industry.