Nov 18, 2022, 05:30 ET
- Demand for virtual clinical trials is anticipated to be stimulated by reduced rate of enrolment for physical trials and requirement for diversified population range for oncology clinical research
- Prospects of virtual clinical trials to become the standard for trials and real-world research demonstrated during COVID-19 to strengthen demand
WILMINGTOM, Del., Nov. 18, 2022 /PRNewswire/ -- In 2021, the global virtual clinical trials market was valued at US$ 7.6 Bn. The revenue analysis of virtual clinical trials market projects the global market to rise at 7.4% CAGR during the forecast period, from 2022 to 2032.
Nearly 30% of all clinical trial sites reviewed are expected to have a significant influence on both enrolling patients for fresh trial investigations and maintaining patient engagement in trials, based on a report released in April 2020. Virtual trials, also called decentralized trials, were crucial in the COVID-19 disaster and are anticipated to become the standard for how trials and real-world research are conducted going ahead. With the prevailing challenges and opportunities for virtual clinical trials, outbreak of Covid-19 is anticipated to continue its support for growth of the global virtual clinical trials market.
Get Exclusive PDF Sample Copy of Virtual Clinical Trials Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=80368
When site visits are not feasible, a virtual approach enables trial participants to take part from the convenience of their own residences, assuring that research can still be done. As a result, it stands for an innovative method of gathering information on safety and effectiveness from participants in clinical studies. Due to remote supervision of in-person site visits and virtual visits, participants get the freedom of choice as well as satisfaction that they won't be exposed to unwanted risk. It is projected that the advantages and comfort provided by these trails will expand the global market.
Key Findings of Market Report
- Sponsors are able to enrol a wider group in virtual research, which is expected to facilitate recruitment, participation, and retention. In addition, it facilitates constant collection of real-time data utilizing various digital health technologies. The time commitment, efforts, and strain on investigators, CRCs, and participants can eventually be reduced via virtual connection, management, and monitoring. These benefits are anticipated to fuel expansion of the global market for virtual clinical trials.
- In 2021, oncology was the leading category with a share of 25.2% of the global virtual clinical trials market. The category is anticipated to hold the highest share of the global market during the forecast period. This is due to an increase in both the number of cancer incidence globally and oncology clinical trials.
- Based on study design, interventional design category accounted for 46.7% of the global virtual clinical trials market in 2021. This industry is being driven by rapid rise in the number of tests being done to develop novel medications for a variety of illnesses, and also digitalization of laboratories.
Global Virtual Clinical Trials Market: Growth Drivers
- Observational studies and chronic disorders including respiratory, immunological, cardiovascular disease, endocrinological, dermatological, and gastrointestinal disease are more suited for virtual trials since they require less intervention. Increase in chronic illnesses is anticipated to support global market growth. Besides, virtual clinical trials perspectives in dermatology are expected to garner attention with rise in dermatological issues.
- Asia Pacific is estimated to exhibit the highest CAGR of 6.8% in the global market over the course of the forecast timeframe. The region is also expected to acquire considerable virtual clinical trials market share during the forecast period. The expansion of the regional market can be ascribed to both the region's greater use of digital technologies and growing accessibility of a vast patient base that makes it simple to find qualified candidates.
Ask for References – https://www.transparencymarketresearch.com/sample/sample.php?flag=ARF&rep_id=80368
Global Virtual Clinical Trials Market: Key Competitors
- PRA Health Sciences
- Parexel International Corporation
- Medable, Inc.
- Oracle Corporation
- ICON, plc
- CRF Health
Global Virtual Clinical Trials Market: Segmentation
- Expanded Access
Make an Enquiry Before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=80368
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Research Reports by Transparency Market Research:
Healthcare Contract Development and Manufacturing Organization Market: The global sales of the Healthcare Contract Development and Manufacturing Organization market growth is expected to reach a valuation of US$ 723.6 Bn.
Visualization Instruments for MIS Market: The global Visualization Instruments for MIS Market is projected to grow at a CAGR of 7.2% from 2022 to 2031 to reach more than US$ 21.0 Bn by 2031.
Dentures Market: The global sales of the Dentures Market with 9.3% projected growth during 2022 – 2032, is expected to reach a valuation of US$ 3.1 Bn by 2032.
Next-Generation Sequencing Data Analysis Market: The global Next-generation sequencing data analysis market is likely to reach a valuation of nearly US$ 5.4 Bn by 2032 at CAGR of 16.6% for the next ten years.
Myopia and Presbyopia Treatment Market: The global Myopia and Presbyopia Treatment market is likely to reach a valuation of nearly US$ 45 Bn by the end of 2032 at a CAGR of 9.5% for the next ten years.
Neurology Patient Monitoring Market: The Neurology Patient Monitoring Market is expected to be the highest revenue-generating application, with a CAGR of around 7.8% during 2022 – 2032.
Exoskeleton Market: The Exoskeleton Market is expected to be significantly higher than the historical growth at a CAGR of 19.7%, during 2022 – 2032.
Magnetic Beads Market: The global sales of the Magnetic Beads Market is projected to reach a valuation of US$ 6.7 Bn by 2032 at a 15.5% CAGR during 2022 - 2032,
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
USA – Canada Toll Free: 866-552-3453
Email: [email protected]
SOURCE Transparency Market Research
Share this article