Virtual Clinical Trials Global Market to Surpass $12.9 Billion by 2026
DUBLIN, Aug. 17, 2022 /PRNewswire/ -- The "Virtual Clinical Trials Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global virtual clinical trials market is expected to grow from $8.85 billion in 2021 to $9.61 billion in 2022 at a compound annual growth rate (CAGR) of 8.68%. The virtual clinical trials market is expected to grow to $12.96 billion in 2026 at a compound annual growth rate (CAGR) of 7.75%.
The main design types of virtual clinical trials include observational trials, interventional trials, and expanded access trials. The observational trials refer to virtual clinical trials solutions and services used in the observational trials. Observational studies aim to learn what occurs to people in various contexts.
The study team observes the participants but does not influence the therapies they get. The virtual clinical trials are used in Phase I, Phase II, Phase III, and Phase IV, and they are used in clinical trials of drugs are devices used in the treatment of CNS, autoimmune/inflammation, cardiovascular diseases, metabolic/endocrinology, infectious diseases, oncology, genitourinary, ophthalmology, and others.
North America was the largest region in the virtual clinical trials market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the virtual clinical trials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing investments by the government and pharmaceutical companies in the R&D for the development of new vaccines and drugs are driving the growth of the virtual clinical trials market. The R&D divisions in the medical industry are increasingly utilizing virtual clinical trial solutions and services to increase quality assurance and clinical data management of drugs and their products.
For instance, according to the study published in Research!America, a non-profit medical and health research advisory, the medical and health R&D investment in the USA was recorded at $241.5 billion in 2020 an 11.1% increase from 2019.
Technology advancement is a key trend gaining popularity in the virtual clinical trials market. Major companies operating in the virtual clinical trials market are focused on providing technologically-advanced solutions to meet fast-growing industry demands and strengthen their market position.
These companies are implementing new generation virtual clinical technologies into their services, such as wearable technologies, mHealth, blockchain, cloud computing, EMR integration, actionable data, threshold monitoring, AI, SFTP, ETL services, and others. For instance, In April 2022, Unlearn.AI, a US-based startup, will launch a new digital twin RCTs technology for clinical trials that enables smaller control groups while maintaining power and generating evidence suitable for supporting regulatory decisions using AI and historical data.
Scope
Markets Covered:
1) By Design: Observational Trials; Interventional Trials; Expanded Access Trials
2) By Phases: Phase I; Phase II; Phase III; Phase IV
3) By Indication: CNS; Autoimmune/Inflammation; Cardiovascular Disease; Metabolic/Endocrinology; Infectious Disease; Oncology; Genitourinary; Ophthalmology; Others
Key Topics Covered:
1. Executive Summary
2. Virtual Clinical Trials Market Characteristics
3. Virtual Clinical Trials Market Trends And Strategies
4. Impact Of COVID-19 On Virtual Clinical Trials
5. Virtual Clinical Trials Market Size And Growth
6. Virtual Clinical Trials Market Segmentation
7. Virtual Clinical Trials Market Regional And Country Analysis
8. Asia-Pacific Virtual Clinical Trials Market
9. China Virtual Clinical Trials Market
10. India Virtual Clinical Trials Market
11. Japan Virtual Clinical Trials Market
12. Australia Virtual Clinical Trials Market
13. Indonesia Virtual Clinical Trials Market
14. South Korea Virtual Clinical Trials Market
15. Western Europe Virtual Clinical Trials Market
16. UK Virtual Clinical Trials Market
17. Germany Virtual Clinical Trials Market
18. France Virtual Clinical Trials Market
19. Eastern Europe Virtual Clinical Trials Market
20. Russia Virtual Clinical Trials Market
21. North America Virtual Clinical Trials Market
22. USA Virtual Clinical Trials Market
23. South America Virtual Clinical Trials Market
24. Brazil Virtual Clinical Trials Market
25. Middle East Virtual Clinical Trials Market
26. Africa Virtual Clinical Trials Market
27. Virtual Clinical Trials Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Virtual Clinical Trials Market
29. Virtual Clinical Trials Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- ICON, plc
- Parexel International
- IQVIA
- Covance
- PRA Health Sciences
For more information about this report visit https://www.researchandmarkets.com/r/6rziqp
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