Virtual Clinical Trials (VCTs), also called remote or decentralized trials, are a relatively new and yet underutilized method of conducting clinical research taking full advantage of technologies such as apps, electronic monitoring devices, and online social engagement platforms.
Virtual clinical trials (VCT) eliminate challenges posed by traditional clinical trials such as time-consuming procedures and delay in patient recruitment that has driven the demand for the virtual clinical trial market. Moreover, technological advancements in healthcare infrastructure and alliances between biotechnology, pharmaceutical & clinical research organization are anticipated to boost the virtual clinical trials market growth in the near future.
This report contains market size and forecasts of Virtual Clinical Trials in Global, including the following market information:
Global Virtual Clinical Trials Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Virtual Clinical Trials market was valued at 6383.1 million in 2021 and is projected to reach US$ 14240 million by 2028, at a CAGR of 12.1% during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Interventional Trials Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Virtual Clinical Trials include ICON Plc, LEO Innovation Lab, Science 37, PRA Health Sciences, Clinical Ink, Parexel, Medable, Oracle and CRF Health, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Virtual Clinical Trials companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Virtual Clinical Trials Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Virtual Clinical Trials Market Segment Percentages, by Type, 2021 (%)
Interventional Trials
Observational Trials
Expanded Access Trials
Global Virtual Clinical Trials Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Virtual Clinical Trials Market Segment Percentages, by Application, 2021 (%)
Oncology
Cardiovascular Disease
Others
Global Virtual Clinical Trials Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Virtual Clinical Trials Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Virtual Clinical Trials revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Virtual Clinical Trials revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
ICON Plc
LEO Innovation Lab
Science 37
PRA Health Sciences
Clinical Ink
Parexel
Medable
Oracle
CRF Health
Medidata
Covance
IQVIA