Market Overview:
The global virtual clinical trials market size is expected to exhibit a growth rate (CAGR) of 4.86% during 2024-2032.
Report Attribute
|
Key Statistics
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Base Year
|
2023
|
Forecast Years
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2024-2032
|
Historical Years
|
2018-2023
|
Market Growth Rate (2024-2032) |
4.86% |
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.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global virtual clinical trials market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on study design and indication.
Breakup by Study Design:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
- Interventional
- Observational
- Expanded Access
Breakup by Indication:
- Oncology
- Cardiovascular
- Others
Breakup by Region:
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- North America
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- 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 (Pamplona Capital Management), PRA Health Sciences and Signant Health (Genstar Capital).
Report Coverage:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
US$ Billion |
Segment Coverage |
Study Design, Indication, Region |
Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
Companies Covered |
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 (Pamplona Capital Management), PRA Health Sciences and Signant Health (Genstar Capital) |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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?