According to a new report Global Virtual Clinical Trials Market, published by KBV research, The Global Virtual Clinical Trials Market size is expected to reach $10 billion by 2026, rising at a market growth of 6.5% CAGR during the forecast period.
The Oncology market dominated the Global Virtual Clinical Trials Market by Indication in 2019. This is credited to the growing instances of cancer on a worldwide scale and the growing number of oncology clinical trials. Patients of cancer are the most unprotected during the outbreak of COVID-19. Examiners and sponsors supervising oncology clinical trials have rapidly included remote and virtual trials to maintain the safety of patients and keep the trails going forward. The Cardiovascular market is exhibiting a CAGR of 4.9% during (2020 - 2026).
The Interventional market dominated the Global Virtual Clinical Trials Market by Study Type in 2019. The COVID-19 pandemic has fueled the demand for trials and testing of different new vaccines and drugs to fight situations all around the world, as conventional techniques of clinical trials accompany the massive danger of infection in individuals. The Observational market is experiencing a CAGR of 6.3% during (2020 - 2026). Additionally, The Expanded Access market would showcase the highest CAGR of 7.6% during (2020 - 2026).
In 2019, North America represented the highest share of revenue of the virtual clinical trials market. The region is foreseen to maintain its dominance during the forecast years. This can be credited to the growing number of R&D in this region, the growing adoption of the latest innovations in clinical studies, and support from the government. In the region of Asia Pacific, the market is expected to observe the highest CAGR during the forecast years due to the growing availability of a big patient pool empowering simple recruitments of candidates, & increased penetration of digital technologies in the region.
Structural Insights: https://www.kbvresearch.com/virtual-clinical-trials-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IQVIA Holdings, Inc., ICON PLC, Laboratory Corporation of America Holdings (Covance, Inc.), Dassault Systemes SE (Medidata Solutions, Inc.), Oracle Corporation, Parexel International Corporation (Pamplona Capital Management), PRA Health Sciences, Inc. (KKR & Co., Inc.), Medpace Holdings, Inc., Medable, Inc. and Clinical Ink, Inc. (G.I. Partners).
Global Virtual Clinical Trials Market Segmentation
By Study Type
- Expanded Access
- Other Indications
- Rest of North America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- IQVIA Holdings, Inc.
- ICON PLC
- Laboratory Corporation of America Holdings (Covance, Inc.)
- Dassault Systemes SE (Medidata Solutions, Inc.)
- Oracle Corporation
- Parexel International Corporation (Pamplona Capital Management)
- PRA Health Sciences, Inc. (KKR & Co., Inc.)
- Medpace Holdings, Inc.
- Medable, Inc.
- Clinical Ink, Inc. (G.I. Partners)