Global Decentralized Clinical Trials (DCTs) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Decentralized Clinical Trials (DCTs) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Decentralized Clinical Trials (DCTs) is the application of science and technology to predict the conditions of the atmosphere for a given location and time. Accurate weather predictions are important for businesses and industries like Oncology, Marine, Agriculture, Cardiovascular Disease, Energy, etc. These are the main drivers for Decentralized Clinical Trials (DCTs) market in future period.

The FDA defines decentralized clinical trials as those executed through telemedicine and mobile/local healthcare providers, using processes and technologies that differ from the traditional clinical trial model.

Market Overview:

The latest research study on the global Decentralized Clinical Trials (DCTs) market finds that the global Decentralized Clinical Trials (DCTs) market reached a value of USD 4540.84 million in 2022. It’s expected that the market will achieve USD 10643.91 million by 2028, exhibiting a CAGR of 15.26% during the forecast period.

Market Drivers

A new international coalition, the Decentralized Trial and Research Alliance (DTRA), was launched with the goal of addressing the “significant obstacles” that stakeholders in the entire research community continue to face in meaningfully adopting decentralized trials. DTRA is the only organization that convenes a diverse community, dedicated to solving the obstacles of decentralized trials. There are currently 50 organizations with members, including the US FDA, several contract research organizations (CRO), patient rights groups, and other participants in the research community. One of DTRA's goals is to democratize clinical trial participation by using a decentralized approach. This allows all participants to participate in the experiment as much as possible. Innovative decentralized methods are more attractive, and some organizations and industry associations are already working hard to maintain this momentum.

COVID-19 has promoted the growth of DCTs research because many active studies that do not use a decentralized approach have transitioned to ways that support patient safety and trial continuity. The increasing popularity of DCTs during the COVID19 pandemic provides evidence for the industry that it should be an important choice when designing clinical trials now and in the future. When COVID-19 forced its global clinical trials to be closed due to the risks it brings to patients and the overload of the medical system, it makes Decentralized Clinical Trials the most effective research and development method. All players in the trials ecosystem must adapt to the new situation and speed up the implementation of new procedures that vary from the traditional clinical trial model.

As a result, sponsors and CROs that have been slow to accept the potential of DCT are now keenly aware of their advantages, such as higher patient participation, optimized research registration and patient retention. With all of this in mind, companies are now seeking technological innovation and extending their lessons learned from operating DCTs during the pandemic. That is, on a global scale, the application of DCTs solutions will get more and more attention.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

IQVIA is one of the major players operating in the Decentralized Clinical Trials (DCTs) market, holding a share of 13.70% in 2021.

Science 37, the industry leader in decentralized clinical trials, announced today a strategic partnership with Medgate, a leading international digital health and telemedicine company and operator of Europe's largest telemedicine center run by physicians.

The relationship extends Science 37's global leadership in orchestrating decentralized clinical trials for study sponsors by enabling Medgate physicians to participate in research and contribute to the improvement of treatments. With more than 500 employees across Europe, Asia-Pacific, and the Middle East, the Medgate partnership expands Science 37's capacity to grow and execute global decentralized clinical studies.

ICON plc is a global provider of outsourced drug and device development and commercialisation services to the pharmaceutical, biotechnology and medical device industries, and government and public health organizations, today announced it has entered into a

Segmentation Overview:

Among different product types, Observational Trials segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Cardiovascular Disease segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Decentralized Clinical Trials (DCTs) market covered in Chapter 3:

PRA Health Sciences
LEO Innovation Lab
PPD
Oracle Life Sciences
Science 37
Medable
IQVIA
Parexel
CRF Bracket
ICON Plc
Medrio
Clinical Ink
Covance

In Chapter 4 and Chapter 14.2, on the basis of types, the Decentralized Clinical Trials (DCTs) market from 2018 to 2029 is primarily split into:

Interventional Trials
Observational Trials
Expanded Access Trials

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Decentralized Clinical Trials (DCTs) market from 2018 to 2029 covers:

Oncology
Cardiovascular Disease
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)