Global Virtual Clinical Trials Market Size study & Forecast, by Study Design (Interventional, Observational, Expanded Access) By Indication (CNS, Autoimmune/Inflammation, Cardiovascular Disease, Metabolic/Endocrinology, Infectious Disease, Others) By Phas

Global Virtual Clinical Trials Market Size study & Forecast, by Study Design (Interventional, Observational, Expanded Access) By Indication (CNS, Autoimmune/Inflammation, Cardiovascular Disease, Metabolic/Endocrinology, Infectious Disease, Others) By Phase (Phase I, Phase II, Phase III, Phase IV) and Regional Analysis, 2023-2030

Global Virtual Clinical Trials Market is valued approximately at USD 8.28 billion in 2022 and is anticipated to grow with a growth rate of more than 5.7% over the forecast period 2023-2030. Virtual Clinical Trials refer to a modern approach in conducting clinical research that leverages digital technologies and remote monitoring to collect data from participants. Unlike traditional clinical trials, where participants typically visit physical study sites, VCTs utilize virtual or online platforms to facilitate various aspects of the trial process. The Virtual Clinical Trials market is expanding because of factors such as rising incidence of cardiovascular disease and growing number of cancer cases. As a result, the demand of Virtual Clinical Trials has progressively increased in the international market during the forecast period 2023-2030.

Virtual trials often incorporate telemedicine for remote consultations with healthcare professionals. This is especially valuable for individuals with cardiovascular conditions could benefit from regular check-ins with medical professionals without the need for physical visits. According to the American Heart Association in 2020, the United States, coronary heart disease was held accountable for the primary cause, responsible for 41.2% of CVD-related deaths, followed by stroke at 17.3%, other cardiovascular diseases at 16.8%, high blood pressure at 12.9%, heart failure at 9.2%, and diseases of the arteries at 2.6%. Another important factor drives the Virtual Clinical Trials market is increasing number of cancer cases. Cancer treatments often require ongoing monitoring of patients' health and treatment responses. Virtual clinical trials with the use of digital tools and wearable devices, enable real-time and continuous monitoring of participants, providing a more comprehensive understanding of their condition and treatment outcomes. In addition, as per International Agency for Research on Cancer, in 2022, global estimated number of deaths due to cancer accounts 9.96 million and projected to reached up to 12.9 million by 2030. Moreover, rising number of clinical research studies and technological advancements associated with virtual clinical trials is anticipated to create a lucrative growth opportunity for the market over the forecast period. However, high development cost of virtual clinical trials and stringent regulation in performing virtual clinical trials is going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Virtual Clinical Trials Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing presence of several players such as ICON plc; IQVIA Holdings, Inc. and growing supportive government initiatives towards virtual clinical trials in the region. Governments can invest in building the necessary technological infrastructure to support virtual clinical trials. This includes improving internet connectivity, promoting the use of telemedicine platforms, and ensuring data security and privacy compliance. The region’s dominant performance is anticipated to propel the overall demand of Virtual Clinical Trials. Furthermore, Asia Pacific is expected to grow fastest during the forecast period, owing to factors such as growing rate of cardiovascular diseases and rising number of geriatric populations in the region. Older individuals could be more susceptible to adverse events or complications during travel, especially if they have pre-existing health conditions. Virtual participation minimizes exposure to potential health risks associated with travel, contributing to the overall safety and well-being of participants.


Major market player included in this report are:
Icon plc
Parexel International Corporation
Covance Inc
PRA Health Sciences, Inc
LEO Innovation Lab A/S
Medidata Solutions, Inc
Oracle Corporation
Croprime Pty Ltd
Clinical Ink, Inc
Medable Inc

Recent Developments in the Market:
 In February 2024, Curavit Clinical Research, a virtual contract research organisation (VCRO) that specialises in decentralised clinical trials (DCTs) for digital therapeutics (DTx), has completed a decentralised trial for the Sana Device. Sana has submitted trial data to the US Food and Drug Administration (FDA) for consideration as a Breakthrough Device Designation for its wearable, virtual-reality-style mask that uses audiovisual stimulation to treat symptoms of post-traumatic stress disorder. The Sana Device is a wearable device designed to provide anxiety alleviation on demand. The trial was funded by a CDMRP grant administered by the Military Operational Medicine Research Programme. Its purpose was to gather evidence on the Device's capacity to provide additional alleviation to patients suffering from PTSD.

Global Virtual Clinical Trials Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Study Design, Indication, Phase, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Study Design
Interventional
Observational
Expanded Access

By Indication
CNS
Autoimmune/Inflammation
Cardiovascular Disease
Metabolic/Endocrinology
Infectious Disease
Others

By Phase
Phase I
Phase II
Phase III
Phase IV

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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