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*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Virtual Clinical Trials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global virtual clinical trials market grew at a CAGR of around 7% during 2015-2020. Virtual clinical trials (VCT), or remote/decentralized trials, refer to the clinical tests conducted remotely using advanced technological solutions. These virtual interventional, observational and expanded access trials involve the use of smartphone applications and electronic monitoring devices to diagnose, detect and prevent diseases, along with various web-based platforms to recruit, counsel, measure endpoints and obtain data from the subjects. They also assist in generating data regarding the efficiency, effectiveness and safety of drugs and medical procedures. In comparison to the traditional clinical trials, VCTs are less time-consuming, ensure continuous real-time data acquisition and are not impacted by delays in patient recruitment as they can be conducted at-home and at remote locations.

The rapid digitization of the healthcare infrastructure across the globe represents one of the key factors driving the growth of the market. Moreover, the widespread adoption of VCTs for dermatological testing is also driving the market growth. Remote trials are extensively used for evaluating skin disorders that do not require complex examinations. In line with this, as the coronavirus disease (COVID-19) continues to spread across the globe, there has been a significant increase in the demand for virtual and remote testing solutions for safe and effective data collection. Additionally, various technological advancements, such as the launch of virtual patient interaction platforms and the use of wearable devices, are acting as other growth-inducing factors. These technologies aid in connecting patients with treating physicians through telemedicine platforms and obtaining e-consent for the trials, thus contributing to the market growth. Other factors, including extensive research and development (R&D) activities in the fields of pharmacology and biotechnology, along with the increasing adoption of cloud-based, web-hosted and open-source licensing delivery models, are anticipated to drive the market further. Looking forward, IMARC Group expects the global virtual clinical trials market to exhibit moderate growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global virtual clinical trials market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, study design and indication.

Breakup by Study Design:

  • Interventional
  • Observational
  • Expanded Access
     

Breakup by Indication:

  • Oncology
  • Cardiovascular
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Clinical Ink Inc., Covance Inc., ICON Plc, IQVIA Inc., LEO Innovation Lab, Medable Inc., Medidata Solutions Inc. (Dassault Systèmes SE), Medpace Holdings Inc., Oracle Corporation, Parexel International Corporation, PRA Health Sciences and Signant Health.

Key Questions Answered in This Report:

  • How has the global virtual clinical trials market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global virtual clinical trials market?
  • What are the key regional markets?
  • What is the breakup of the market based on the study design?
  • What is the breakup of the market based on the indication?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global virtual clinical trials market and who are the key players?
  • What is the degree of competition in the industry?

1   Preface
2   Scope and Methodology

    2.1   Objectives of the Study
    2.2   Stakeholders
    2.3   Data Sources
        2.3.1   Primary Sources
        2.3.2   Secondary Sources
    2.4   Market Estimation
        2.4.1   Bottom-Up Approach
        2.4.2   Top-Down Approach
    2.5   Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1   Overview
    4.2   Key Industry Trends
5   Global Virtual Clinical Trials Market
    5.1   Market Overview
    5.2   Market Performance
    5.3   Impact of COVID-19
    5.4   Market Forecast
6    Market Breakup by Study Design
    6.1   Interventional
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2   Observational
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3   Expanded Access
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Indication
    7.1   Oncology
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2   Cardiovascular
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3   Others
        7.3.1 Market Trends
        7.3.2 Market Forecast
8    Market Breakup by Region
    8.1   North America
        8.1.1   United States
            8.1.1.1 Market Trends
            8.1.1.2 Market Forecast
        8.1.2   Canada
            8.1.2.1 Market Trends
            8.1.2.2 Market Forecast
    8.2   Asia-Pacific
        8.2.1   China
            8.2.1.1 Market Trends
            8.2.1.2 Market Forecast
        8.2.2   Japan
            8.2.2.1 Market Trends
            8.2.2.2 Market Forecast
        8.2.3   India
            8.2.3.1 Market Trends
            8.2.3.2 Market Forecast
        8.2.4   South Korea
            8.2.4.1 Market Trends
            8.2.4.2 Market Forecast
        8.2.5   Australia
            8.2.5.1 Market Trends
            8.2.5.2 Market Forecast
        8.2.6   Indonesia
            8.2.6.1 Market Trends
            8.2.6.2 Market Forecast
        8.2.7   Others
            8.2.7.1 Market Trends
            8.2.7.2 Market Forecast
    8.3   Europe
        8.3.1   Germany
            8.3.1.1 Market Trends
            8.3.1.2 Market Forecast
        8.3.2   France
            8.3.2.1 Market Trends
            8.3.2.2 Market Forecast
        8.3.3   United Kingdom
            8.3.3.1 Market Trends
            8.3.3.2 Market Forecast
         8.3.4   Italy
            8.3.4.1 Market Trends
            8.3.4.2 Market Forecast
        8.3.5   Spain
            8.3.5.1 Market Trends
            8.3.5.2 Market Forecast
        8.3.6   Russia
            8.3.6.1 Market Trends
            8.3.6.2 Market Forecast
        8.3.7   Others
            8.3.7.1 Market Trends
            8.3.7.2 Market Forecast
    8.4   Latin America
        8.4.1   Brazil
            8.4.1.1 Market Trends
            8.4.1.2 Market Forecast
        8.4.2   Mexico
            8.4.2.1 Market Trends
            8.4.2.2 Market Forecast
        8.4.3   Others
            8.4.3.1 Market Trends
            8.4.3.2 Market Forecast
    8.5   Middle East and Africa
        8.5.1 Market Trends
        8.5.2 Market Breakup by Country
        8.5.3 Market Forecast
9    SWOT Analysis
    9.1   Overview
    9.2   Strengths
    9.3   Weaknesses
    9.4   Opportunities
    9.5   Threats
10    Value Chain Analysis
11    Porters Five Forces Analysis

    11.1   Overview
    11.2   Bargaining Power of Buyers
    11.3   Bargaining Power of Suppliers
    11.4   Degree of Competition
    11.5   Threat of New Entrants
    11.6   Threat of Substitutes
12    Price Analysis
13    Competitive Landscape

    13.1   Market Structure
    13.2   Key Players
    13.3   Profiles of Key Players
        13.3.1   Clinical Ink Inc.
            13.3.1.1 Company Overview
            13.3.1.2 Product Portfolio
        13.3.2   Covance Inc.
            13.3.2.1 Company Overview
            13.3.2.2 Product Portfolio
            13.3.2.3 SWOT Analysis
        13.3.3   ICON Plc
            13.3.3.1 Company Overview
            13.3.3.2 Product Portfolio
            13.3.3.3 Financials
            13.3.3.4 SWOT Analysis
        13.3.4   IQVIA Inc.
            13.3.4.1 Company Overview
            13.3.4.2 Product Portfolio
            13.3.4.3 Financials
            13.3.4.4 SWOT Analysis
        13.3.5   LEO Innovation Lab
            13.3.5.1 Company Overview
            13.3.5.2 Product Portfolio
        13.3.6   Medable Inc.
            13.3.6.1 Company Overview
            13.3.6.2 Product Portfolio
        13.3.7   Medidata Solutions Inc. (Dassault Systèmes SE)
            13.3.7.1 Company Overview
            13.3.7.2 Product Portfolio
            13.3.7.3 SWOT Analysis
        13.3.8   Medpace Holdings Inc.
            13.3.8.1 Company Overview
            13.3.8.2 Product Portfolio
            13.3.8.3 Financials
            13.3.8.4 SWOT Analysis
        13.3.9   Oracle Corporation
            13.3.9.1 Company Overview
            13.3.9.2 Product Portfolio
            13.3.9.3 Financials
            13.3.9.4 SWOT Analysis
        13.3.10   Parexel International Corporation (Pamplona Capital Management)
            13.3.10.1 Company Overview
            13.3.10.2 Product Portfolio
            13.3.10.3 SWOT Analysis
        13.3.11   PRA Health Sciences
            13.3.11.1 Company Overview
            13.3.11.2 Product Portfolio
            13.3.11.3 Financials
        13.3.12   Signant Health (Genstar Capital)
            13.3.12.1 Company Overview
            13.3.12.2 Product Portfolio

List of Figures

Figure 1: Global: Virtual Clinical Trials Market: Major Drivers and Challenges
Figure 2: Global: Virtual Clinical Trials Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Virtual Clinical Trials Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 4: Global: Virtual Clinical Trials Market: Breakup by Study Design (in %), 2020
Figure 5: Global: Virtual Clinical Trials Market: Breakup by Indication (in %), 2020
Figure 6: Global: Virtual Clinical Trials Market: Breakup by Region (in %), 2020
Figure 7: Global: Virtual Clinical Trials (Interventional) Market: Sales Value (in Million US$), 2015-2020
Figure 8: Global: Virtual Clinical Trials (Interventional) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 9: Global: Virtual Clinical Trials (Observational) Market: Sales Value (in Million US$), 2015-2020
Figure 10: Global: Virtual Clinical Trials (Observational) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Virtual Clinical Trials (Expanded Access) Market: Sales Value (in Million US$), 2015-2020
Figure 12: Global: Virtual Clinical Trials (Expanded Access) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Virtual Clinical Trials (Oncology) Market: Sales Value (in Million US$), 2015-2020
Figure 14: Global: Virtual Clinical Trials (Oncology) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Virtual Clinical Trials (Cardiovascular) Market: Sales Value (in Million US$), 2015-2020
Figure 16: Global: Virtual Clinical Trials (Cardiovascular) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Virtual Clinical Trials (Other Indications) Market: Sales Value (in Million US$), 2015-2020
Figure 18: Global: Virtual Clinical Trials (Other Indications) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: North America: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 20: North America: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: North America: Virtual Clinical Trials Market: Breakup by Country (in %), 2020
Figure 22: United States: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 23: United States: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Canada: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 25: Canada: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Asia-Pacific: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 27: Asia-Pacific: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Asia-Pacific: Virtual Clinical Trials Market: Breakup by Country (in %), 2020
Figure 29: China: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 30: China: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: Japan: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 32: Japan: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: India: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 34: India: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: South Korea: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 36: South Korea: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: Australia: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 38: Australia: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: Indonesia: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 40: Indonesia: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Others: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 42: Others: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: Europe: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 44: Europe: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: Europe: Virtual Clinical Trials Market: Breakup by Country (in %), 2020
Figure 46: Germany: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 47: Germany: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: France: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 49: France: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: United Kingdom: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 51: United Kingdom: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: Italy: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 53: Italy: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: Spain: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 55: Spain: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 56: Russia: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 57: Russia: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 58: Others: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 59: Others: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 60: Latin America: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 61: Latin America: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 62: Latin America: Virtual Clinical Trials Market: Breakup by Country (in %), 2020
Figure 63: Brazil: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 64: Brazil: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Mexico: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 66: Mexico: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Others: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 68: Others: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: Middle East and Africa: Virtual Clinical Trials Market: Sales Value (in Million US$), 2015-2020
Figure 70: Middle East and Africa: Virtual Clinical Trials Market: Breakup by Country (in %), 2020
Figure 71: Middle East and Africa: Virtual Clinical Trials Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 72: Global: Virtual Clinical Trials Industry: SWOT Analysis
Figure 73: Global: Virtual Clinical Trials Industry: Value Chain Analysis
Figure 74: Global: Virtual Clinical Trials Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Virtual Clinical Trials Market: Key Industry Highlights, 2021 and 2026
Table 2: Global: Virtual Clinical Trials Market Forecast: Breakup by Study Design (in Million US$), 2021-2026
Table 3: Global: Virtual Clinical Trials Market Forecast: Breakup by Indication (in Million US$), 2021-2026
Table 4: Global: Virtual Clinical Trials Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 5: Global: Virtual Clinical Trials Market: Competitive Structure
Table 6: Global: Virtual Clinical Trials Market: Key Players

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