Virtual Clinical Trials Market Outlook
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.
The global virtual clinical trials market growth rate is expected to exhibit a CAGR of 5.6% during 2022-2027. Looking forward, IMARC Group expects the global virtual clinical trials market to exhibit moderate growth during 2022-2027.
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.
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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.
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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
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.
Key Market Segmentation:
The report has categorized the market based on study design and indication.
Breakup by Study Design:
- Expanded Access
Breakup by Indication:
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, South Africa, 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
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