PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1886951
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1886951
Oncology Clinical Trials Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of oncology clinical trials Market
The global oncology clinical trials market is undergoing rapid expansion as pharmaceutical companies, biotechnology firms, and clinical research organizations (CROs) intensify efforts to develop advanced cancer therapies. According to the latest industry analysis, the global oncology clinical trials market size was valued at USD 17.52 billion in 2024. The market is projected to increase to USD 18.97 billion in 2025, and by 2032, it is forecast to reach USD 33.98 billion, exhibiting a CAGR of 8.5% between 2025 and 2032. Rising cancer incidence, growing adoption of precision medicine, and increasing outsourcing of clinical research activities are among the primary factors fueling this global market acceleration.
Market Overview
Oncology clinical trials play a vital role in evaluating the safety and efficacy of innovative cancer therapeutics, diagnostics, medical devices, and treatment procedures. As the global burden of cancer continues to increase, demand for clinical studies has surged. According to the World Health Organization (WHO), there were 20 million new cancer cases in 2022, with 9.7 million deaths and 53.5 million people living with cancer over the previous five years. This rising prevalence is encouraging life science companies to launch more trial activities across various cancer types.
In 2024, North America dominated the oncology clinical trials market with a 47.75% share, supported by a high concentration of CROs, strong precision medicine infrastructure, and extensive outsourcing of clinical studies by U.S. and Canadian pharmaceutical companies.
Market Drivers
The primary driver of the market is the rapidly growing incidence of cancer globally. As the demand for innovative diagnostics and treatments rises, the number of oncology clinical trials is expanding accordingly. For instance, WHO reported 5,306 clinical trials for malignant neoplasms in 2024, reflecting a 16.7% increase from 2010. The rise in cancer prevalence, combined with increased R&D activity, is fueling steady market growth.
The expanding outsourcing trend among pharmaceutical companies also supports the market. CROs offer specialized expertise, cost efficiencies, and faster study timelines, resulting in higher trial volumes, especially in North America, Europe, and Asia Pacific.
Market Restraints
Despite substantial growth prospects, stringent regulatory environments remain a notable challenge. Lengthy approval processes, complex patient recruitment, and high operational costs can delay study timelines. A 2023 NCBI study identified Brazil's stringent licensing procedures as a major barrier to conducting trials, leading to reduced patient recruitment and delayed study initiation.
Funding limitations also restrain market growth. Oncology trials are among the most expensive due to longer duration, complex protocols, and specialized patient monitoring requirements.
Market Opportunities
The rising focus on novel cancer therapeutics presents lucrative expansion opportunities. Numerous phase II studies are being initiated globally. For example, Shandong Suncadia Medicine Co. Ltd. launched a phase II trial in April 2025 evaluating HRS-7058 for advanced malignant tumors, whereas LaNova Medicines Limited initiated a phase II trial in October 2024 for LM-299 targeting solid tumors. The increasing investment in innovative precision therapies is expected to significantly boost trial volume in the years ahead.
Market Trends
Key trends shaping the market include:
Decentralized Clinical Trials (DCTs): The adoption of telemedicine, wearable devices, and at-home diagnostic tools is improving patient accessibility, particularly across rural and underserved regions.
AI and Big Data Integration: AI-driven patient matching, predictive analytics, and adaptive trial designs are accelerating trial efficiency.
Fast-Track Approvals: Agencies like the FDA and EMA are offering priority review and breakthrough therapy status for promising oncology therapies, encouraging further trial investments.
Segmentation Insights
In 2024, Phase III clinical trials dominated the market, driven by the high number of studies and long trial durations. WHO noted that 418 Phase III oncology trials were registered in 2024, representing a 114.4% increase since 2000. The Phase II segment is expected to grow fastest due to increasing outsourcing by mid-sized pharmaceutical organizations.
By type, breast cancer trials held the largest share in 2024, supported by intensive R&D investments. Prostate cancer trials are expected to grow at the highest rate over the forecast period, supported by rising disease prevalence and demand for targeted therapies.
Regional Insights
North America led the market in 2024 with USD 7.49 billion in value. The U.S. remains a global hub for oncology research, supported by major CROs such as IQVIA, ICON, and Parexel. Europe follows, driven by increased R&D spending-such as AstraZeneca's USD 808.5 billion investment in 2024. Asia Pacific is projected to grow fastest due to rising cancer burden, government funding, and expanding precision medicine capabilities. Latin America, the Middle East, and Africa are gaining traction as cost-effective trial destinations.
Conclusion
With the global market expected to rise from USD 17.52 billion in 2024 to USD 33.98 billion by 2032, the oncology clinical trials sector is positioned for strong, sustained growth. Increasing patient needs, advancing trial methodologies, and rising cross-industry collaborations will continue driving the global expansion of oncology research.
Segmentation By Phase
- Phase I
- Phase II
- Phase III
- Phase IV
By Type
- Breast Cancer
- Melanoma
- Colorectal Cancer
- Prostate Cancer
- Lung Cancer
- Others
By Region
- North America (By Phase, Type, and Country)
- U.S.
- Canada
- Europe (By Phase, Type, and Country/Sub-region)
- Germany
- U.K.
- France
- Spain
- Italy
- Scandinavia
- Rest of Europe
- Asia Pacific (By Phase, Type, and Country/Sub-region)
- China
- Japan
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
- Rest of the World (By Phase and Type)
Table of Content
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
4. Key Insights
- 4.1. Number of Oncology Clinical Trials - by Key Countries, 2024
- 4.2. Distribution of Oncology Clinical Trials
- 4.3. Key Industry Developments (Mergers, Acquisitions, Partnerships, etc.)
5. Global Oncology Clinical Trials Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Market Analysis, Insights and Forecast - By Phase
- 5.1.1. Phase I
- 5.1.2. Phase II
- 5.1.3. Phase III
- 5.1.4. Phase IV
- 5.2. Market Analysis, Insights and Forecast - By Types
- 5.2.1. Breast Cancer
- 5.2.2. Melanoma
- 5.2.3. Colorectal Cancer
- 5.2.4. Prostate Cancer
- 5.2.5. Lung Cancer
- 5.2.6. Others
- 5.3. Market Analysis, Insights and Forecast - By Region
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. Asia Pacific
- 5.3.4. Rest of the World
6. North America Oncology Clinical Trials Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast - By Phase
- 6.1.1. Phase I
- 6.1.2. Phase II
- 6.1.3. Phase III
- 6.1.4. Phase IV
- 6.2. Market Analysis, Insights and Forecast - By Types
- 6.2.1. Breast Cancer
- 6.2.2. Melanoma
- 6.2.3. Colorectal Cancer
- 6.2.4. Prostate Cancer
- 6.2.5. Lung Cancer
- 6.2.6. Others
- 6.3. Market Analysis, Insights and Forecast - By Country
- 6.3.1. U.S.
- 6.3.2. Canada
7. Europe Oncology Clinical Trials Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast - By Phase
- 7.1.1. Phase I
- 7.1.2. Phase II
- 7.1.3. Phase III
- 7.1.4. Phase IV
- 7.2. Market Analysis, Insights and Forecast - By Types
- 7.2.1. Breast Cancer
- 7.2.2. Melanoma
- 7.2.3. Colorectal Cancer
- 7.2.4. Prostate Cancer
- 7.2.5. Lung Cancer
- 7.2.6. Others
- 7.3. Market Analysis, Insights and Forecast - By Country/Sub-region
- 7.3.1. U.K.
- 7.3.2. Germany
- 7.3.3. France
- 7.3.4. Italy
- 7.3.5. Spain
- 7.3.6. Scandinavia
- 7.3.7. Rest of the Europe
8. Asia Pacific Oncology Clinical Trials Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast - By Phase
- 8.1.1. Phase I
- 8.1.2. Phase II
- 8.1.3. Phase III
- 8.1.4. Phase IV
- 8.2. Market Analysis, Insights and Forecast - By Types
- 8.2.1. Breast Cancer
- 8.2.2. Melanoma
- 8.2.3. Colorectal Cancer
- 8.2.4. Prostate Cancer
- 8.2.5. Lung Cancer
- 8.2.6. Others
- 8.3. Market Analysis, Insights and Forecast - By Country/Sub-region
- 8.3.1. Japan
- 8.3.2. China
- 8.3.3. India
- 8.3.4. Australia
- 8.3.5. Southeast Asia
- 8.3.6. Rest of Asia Pacific
9. Rest of the World Oncology Clinical Trials Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast - By Phase
- 9.1.1. Phase I
- 9.1.2. Phase II
- 9.1.3. Phase III
- 9.1.4. Phase IV
- 9.2. Market Analysis, Insights and Forecast - By Types
- 9.2.1. Breast Cancer
- 9.2.2. Melanoma
- 9.2.3. Colorectal Cancer
- 9.2.4. Prostate Cancer
- 9.2.5. Lung Cancer
- 9.2.6. Others
10. Competitive Analysis
- 10.1. Global Market Share Analysis (2024)
- 10.2. Company Profiles
- 10.2.1. IQVIA Inc.
- 10.2.1.1. Overview
- 10.2.1.2. Products
- 10.2.1.3. SWOT Analysis
- 10.2.1.4. Recent Developments
- 10.2.1.5. Strategies
- 10.2.1.6. Financials (Based on Availability)
- 10.2.2. Thermo Fisher Scientific Inc.
- 10.2.2.1. Overview
- 10.2.2.2. Products
- 10.2.2.3. SWOT Analysis
- 10.2.2.4. Recent Developments
- 10.2.2.5. Strategies
- 10.2.2.6. Financials (Based on Availability)
- 10.2.3. Parexel International Corporation
- 10.2.3.1. Overview
- 10.2.3.2. Products
- 10.2.3.3. SWOT Analysis
- 10.2.3.4. Recent Developments
- 10.2.3.5. Strategies
- 10.2.3.6. Financials (Based on Availability)
- 10.2.4. Medpace
- 10.2.4.1. Overview
- 10.2.4.2. Products
- 10.2.4.3. SWOT Analysis
- 10.2.4.4. Recent Developments
- 10.2.4.5. Strategies
- 10.2.4.6. Financials (Based on Availability)
- 10.2.5. ICON plc
- 10.2.5.1. Overview
- 10.2.5.2. Products
- 10.2.5.3. SWOT Analysis
- 10.2.5.4. Recent Developments
- 10.2.5.5. Strategies
- 10.2.5.6. Financials (Based on Availability)
- 10.2.6. Charles River Laboratories
- 10.2.6.1. Overview
- 10.2.6.2. Products
- 10.2.6.3. SWOT Analysis
- 10.2.6.4. Recent Developments
- 10.2.6.5. Strategies
- 10.2.6.6. Financials (Based on Availability)
- 10.2.7. Fortrea
- 10.2.7.1. Overview
- 10.2.7.2. Products
- 10.2.7.3. SWOT Analysis
- 10.2.7.4. Recent Developments
- 10.2.7.5. Strategies
- 10.2.7.6. Financials (Based on Availability)
- 10.2.8. Syneos Health
- 10.2.8.1. Overview
- 10.2.8.2. Products
- 10.2.8.3. SWOT Analysis
- 10.2.8.4. Recent Developments
- 10.2.8.5. Strategies
- 10.2.8.6. Financials (Based on Availability)
- 10.2.1. IQVIA Inc.
List of Tables
- Table 1: Global Oncology Clinical Trials Market Revenue (USD billion) Forecast, by Phase, 2019-2032
- Table 2: Global Oncology Clinical Trials Market Revenue (USD billion) Forecast, by Application, 2019-2032
- Table 3: Global Oncology Clinical Trials Market Revenue (USD billion) Forecast, by Region, 2019-2032
- Table 4: North America Oncology Clinical Trials Market Revenue (USD billion) Forecast, by Phase, 2019-2032
- Table 5: North America Oncology Clinical Trials Market Revenue (USD billion) Forecast, by Application, 2019-2032
- Table 6: North America Oncology Clinical Trials Market Revenue (USD billion) Forecast, By Country, 2019-2032
- Table 7: Europe Oncology Clinical Trials Market Revenue (USD billion) Forecast, by Phase, 2019-2032
- Table 8: Europe Oncology Clinical Trials Market Revenue (USD billion) Forecast, by Application, 2019-2032
- Table 9: Europe Oncology Clinical Trials Market Revenue (USD billion) Forecast, By Country/ Sub-region, 2019-2032
- Table 10: Asia Pacific Oncology Clinical Trials Market Revenue (USD billion) Forecast, by Phase, 2019-2032
- Table 11: Asia Pacific Oncology Clinical Trials Market Revenue (USD billion) Forecast, by Application, 2019-2032
- Table 12: Asia Pacific Oncology Clinical Trials Market Revenue (USD billion) Forecast, By Country/ Sub-region, 2019-2032
- Table 13: Rest of the World Oncology Clinical Trials Market Revenue (USD billion) Forecast, by Phase, 2019-2032
- Table 14: Rest of the World Oncology Clinical Trials Market Revenue (USD billion) Forecast, by Application, 2019-2032
List of Figures
- Figure 1: Global Oncology Clinical Trials Market Revenue Breakdown (USD billion, %) by Region, 2024 & 2032
- Figure 2: Global Oncology Clinical Trials Market Value Share (%), by Phase, 2024 & 2032
- Figure 3: Global Oncology Clinical Trials Market Value Share (%), by Application, 2024 & 2032
- Figure 4: Global Oncology Clinical Trials Market Value (USD billion), by Region, 2024 & 2032
- Figure 5: North America Oncology Clinical Trials Market Value (USD billion), by Phase, 2024 & 2032
- Figure 6: North America Oncology Clinical Trials Market Value Share (%), by Phase, 2024
- Figure 7: North America Oncology Clinical Trials Market Value (USD billion), by Application, 2024 & 2032
- Figure 8: North America Oncology Clinical Trials Market Value Share (%), by Application, 2024
- Figure 9: North America Oncology Clinical Trials Market Value (USD billion), By Country, 2024 & 2032
- Figure 10: North America Oncology Clinical Trials Market Value Share (%), By Country, 2024
- Figure 11: Europe Oncology Clinical Trials Market Value (USD billion), by Phase, 2024 & 2032
- Figure 12: Europe Oncology Clinical Trials Market Value Share (%), by Phase, 2024
- Figure 13: Europe Oncology Clinical Trials Market Value (USD billion), by Application, 2024 & 2032
- Figure 14: Europe Oncology Clinical Trials Market Value Share (%), by Application, 2024
- Figure 15: Europe Oncology Clinical Trials Market Value (USD billion), By Country/ Sub-region, 2024 & 2032
- Figure 16: Europe Oncology Clinical Trials Market Value Share (%), By Country/ Sub-region, 2024
- Figure 17: Asia Pacific Oncology Clinical Trials Market Value (USD billion), by Phase, 2024 & 2032
- Figure 18: Asia Pacific Oncology Clinical Trials Market Value Share (%), by Phase, 2024
- Figure 19: Asia Pacific Oncology Clinical Trials Market Value (USD billion), by Application, 2024 & 2032
- Figure 20: Asia Pacific Oncology Clinical Trials Market Value Share (%), by Application, 2024
- Figure 21: Asia Pacific Oncology Clinical Trials Market Value (USD billion), By Country/ Sub-region, 2024 & 2032
- Figure 22: Asia Pacific Oncology Clinical Trials Market Value Share (%), By Country/ Sub-region, 2024
- Figure 23: Rest of the World Oncology Clinical Trials Market Value (USD billion), by Phase, 2024 & 2032
- Figure 24: Rest of the World Oncology Clinical Trials Market Value Share (%), by Phase, 2024
- Figure 25: Rest of the World Oncology Clinical Trials Market Value (USD billion), by Application, 2024 & 2032
- Figure 26: Rest of the World Oncology Clinical Trials Market Value Share (%), by Application, 2024
- Figure 27: Global Oncology Clinical Trials Market Share (%), By Company, 2024
