Virtual clinical trials market is anticipated to grow at a considerable CAGR of 8.5% during the forecast period. The rise in R&D activities, increasing healthcare digitization, as well as the adoption of telehealth are the key factors driving the growth of the global market. The alliances between clinical research organizations, pharmaceutical, and biotechnology companies as well as cohesive government initiatives are further contributing to the market development.
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As per the continuum clinical report published in April 2020, approximately 30.0% of the surveyed clinical trial places are projected to have a huge impact on recruiting patients for new trial studies as well as retaining already-enrolled patients compliant with their study schedules. Also, 81% of the European clinical trial study sites and 56.0% of the US sites indicated that the patients are less likely to continue participating in studies. A virtual method lets people take part in the trial from their homes ensuring research can continue even when site visits cannot, hence, representing a novel approach of collecting safety and efficacy data from participants of clinical studies.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Virtual Clinical Trials Market Report Segment
By Study Design
- Observational
- Interventional
- Expanded Access
By Indication Type
- Cardiovascular Disease
- Oncology
- Other (Ophthalmology, Infectious Diseases, and other)
Global Virtual Clinical Trials Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global virtual clinical trials market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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