Virtual Clinical Trials Market

The IMARC Group provides extensive analysis of the virtual clinical trials industry covering the market trends, investment opportunities, growth trends, statistics, and industry prospects. The report offers a comprehensive analysis of the industry, which comprises insights on virtual clinical trials market size, share, trends, analysis, growth, demand, statistics, and overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The market is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.

Informed covered in the report:

  • Historical market data from 2016-2021
  • CAGR of the market during the forecast period 2022-2027
  • Detailed information on factors that will drive market growth during the next five years
  • Precise estimation of the Keyword market size and its contribution to the parent market
  • Upcoming market trends and changes in consumer behavior
  • A thorough analysis of the market’s competitive landscape and detailed information on key players
  • Comprehensive details of factors that will challenge the growth of smart meters market key players

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The global virtual clinical trials market is expected to exhibit a CAGR of 5.6% during 2022-2027. Virtual clinical trials (VCT) refer to the clinical tests that are conducted remotely using advanced technological solutions. These virtual trials involve the use of smartphone applications and electronic monitoring devices to diagnose, detect and prevent diseases, along with several web-based platforms to recruit, counsel, measure endpoints and obtain data from the subjects. They also help in generating data regarding the efficiency, effectiveness, and safety of drugs and medical procedures. Compared to the traditional clinical trials, VCTs are less time-consuming, ensure real-time data acquisition and are not affected by delays in patient recruitment as they can be conducted at-home or at remote locations.

Virtual Clinical Trials Market Trends:

The rising digitization of the healthcare infrastructures is primarily driving the growth of the market. Besides this, as coronavirus disease continues to spread across the world, there has been a considerable increase in the demand for virtual and remote testing solutions for safe and effective data collection. Furthermore, numerous technological innovations, such as the introduction of virtual patient interaction platforms and the utilization of wearable devices, are acting as other growth-inducing factors. These technologies assist in connecting patients with treating physicians through telemedicine platforms and obtaining e-consent for the trials, thus strengthening the market growth. Additionally, the growing adoption of cloud-based, web-hosted and open-source licensing delivery models is anticipated to further propel the market in the coming years. Looking forward, IMARC Group expects the global virtual clinical trials market to exhibit moderate growth during 2022-2027.

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

Competitive Landscape with Key Players:

  • 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
  • Signant Health.

Market Segmentation:
Breakup by Study Design:

  • Interventional
  • Observational
  • Expanded Access

Breakup by Indication:

  • Oncology
  • Cardiovascular
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key highlights of the report:                                                    

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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