The Worldwide Virtual Clinical Trials Industry is Expected to Reach $5 Billion by 2027 - Decentralization of Clinical Trials Drives Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Virtual Clinical Trials Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The virtual clinical trials market is one of the innovative approaches for traditional clinical trials, through remote monitoring and more patient-centric approaches.

These virtual clinical trials adoption was high during the COVID-19 pandemic period and the usage of decentralized clinical trials components application rate. Most clinical trial conductors started to move towards the decentralized or hybrid clinical trial model.

Virtual clinical trials are also known as de-centralized clinical trials. Although the vendors adopted virtual clinical trials for many years, however, it was very slow adoption before the pandemic.

The virtual clinical trials market includes the application of digital tools and technological processes that take trials from healthcare settings to patients' homes or places of work.

The reduction in site visits, associated time, and economic cost cuttings eliminate the burden placed on patients and solve the challenges for trial participation. The virtual clinical trials market brought significant advantages and reduced major challenges like patient retention, recruitment, and more. These are the factors that fuel market growth.

Key Questions Answered:

1. What is the size of the global virtual clinical trials market?

2. What is the global virtual clinical trials market growth?

3. What are the trends in the global virtual clinical trials market?

4. Who are the key players in the global virtual clinical trials market?

5. Which region will dominate the global virtual clinical trials market share?

Market Dynamics

Opportunities & Trends

• Adoption of "Bring-Your-Own-Device" Strategy
• Clinical Trials Powered With Better Data Through New Connected Devices
• Adoption of Synthetic Clinical Trials

Growth Enablers

• Spike in Virtual Clinical Trial Adoption Due to Covid-19
• Decentralization of Clinical Trials
• Regulatory Changes in Favor of Virtual Clinical Trials

Growth Restraints

• Challenges Associated With Virtual Clinical Trials
• Complexity in Decentralized Clinical Trials
• Increasing Alternatives for Virtual Clinical Trials

Market Segmentation

by Study Type

• Interventional
• Others

by Phases

• Late Stage
• Early Stage

by Therapeutic Area

• Oncology
• Rare & Genetic Diseases
• CNS
• Immunology
• Other

Segmentation by Company Size

• Small & Mid-Sized
• Large Sized

by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• UK
• Italy
• Spain
• APAC
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• Turkey
• Saudi Arabia
• South Africa

Key Company Profiles

• Dassault Systemes
• Medable
• Science 37
• THREAD

Key Companies To Watch

• Accenture
• Castor
• Clinical ink
• Clario
• Delve Health
• eClinicalHealth
• IQVIA
• Labcorp Drug Development
• ObvioHealth
• Signant Health
• Thermo Fisher Scientific

Other Prominent Vendors

• Advarra
• Curavit Clinical Research
• CMIC Holdings
• Icon Plc
• Jeeva Informatics Solutions
• LEO Innovation Lab
• Oracle
• Paraxel International Corporation
• ProPharma Group

For more information about this report visit https://www.researchandmarkets.com/r/ifmh4m