Virtual Clinical Trials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Virtual Clinical Trials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A3221
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Market Overview:

The global virtual clinical trials market is expected to exhibit a CAGR of 5.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

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.

 

 
 

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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 sub-segment of the global virtual clinical trials market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on study design and indication.

Breakup by Study Design:

 

 
 

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  • Interventional
  • Observational
  • Expanded Access
     

Breakup by Indication:

  • Oncology
  • Cardiovascular
  • Others
     

Breakup by Region:

 

 
 

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  • 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 (Pamplona Capital Management), PRA Health Sciences and Signant Health (Genstar Capital).

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
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$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
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?

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Virtual Clinical Trials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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