Australia Virtual Clinical Trials Market Size & Outlook
- HC Outsourcing
- Clinical Trials
- Virtual Clinical Trials Market Outlook
- Clinical Trials
Global Market
Related Markets
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Australia virtual clinical trials market highlights
- The Australia virtual clinical trials market generated a revenue of USD 360.2 million in 2023 and is expected to reach USD 577.6 million by 2030.
- The Australia market is expected to grow at a CAGR of 7% from 2024 to 2030.
- In terms of segment, interventional was the largest revenue generating study design in 2023.
- Expanded Access is the most lucrative study design segment registering the fastest growth during the forecast period.
Virtual clinical trials market data book summary
| Market revenue in 2023 | USD 360.2 million |
| Market revenue in 2030 | USD 577.6 million |
| Growth rate | 7% (CAGR from 2024 to 2030) |
| Largest segment | Interventional |
| Fastest growing segment | Expanded Access |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Interventional, Observational, Expanded Access |
| Key market players worldwide | Icon PLC, PAREXEL, IQVIA Holdings Inc, Labcorp Holdings Inc, LEO Pharma, Medidata, Oracle Corp, Signant Health |
Other key industry trends
- In terms of revenue, Australia accounted for 4.1% of the global virtual clinical trials market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China virtual clinical trials market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 377.3 million by 2030.
Cancer is the leading cause of total injury and burden of disease in Australia. According to a survey carried by Australian Institute of Health and Welfare, around 134,174 and 149,990 people in Australia were estimated to be diagnosed with cancer in 2017 and 2020, respectively.
This is creating high demand for advanced technologies for treatment, which in turn is boosting the demand for more clinical trials. Owing to coronavirus pandemic, the Australian National Health and Medical Research Council (NHMRC) has released COVID-19 guidance on clinical trials for institutions, researchers, and sponsors.
It accepts & encourages the use of digital strategies to continue clinical trials during the pandemic. The last broad suggestion by NHMRC creates the way for technology & life sciences industries to collaborate & create novel methods to use technologies in clinical trials as long as they protect against infection, safeguard people’s health & reduce burden in taking part in clinical trials.
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Virtual Clinical Trials Market Scope
Virtual Clinical Trials Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Oracle Corp | View profile | 164,000 | 2300 Oracle Way, Austin, TX, United States, 78741 | www.oracle.com |
| Labcorp Holdings Inc | View profile | 67,000 | 358 South Main Street, Burlington, NC, United States, 27215 | www.labcorp.com |
| Icon PLC | View profile | 41,150 | South County Business Park, Leopardstown, Dublin, Ireland, D18 X5R3 | www.iconplc.com |
| LEO Pharma | View profile | 1001-5000 | Parsippany, New Jersey, United States, North America | www.leo-pharma.us/ |
| IQVIA Holdings Inc | View profile | 87,000 | 2400 Ellis Road, Durham, NC, United States, 27703 | www.iqvia.com |
| PAREXEL | View profile | 10001+ | Waltham, Massachusetts, United States, North America | www.parexel.com |
| Medidata | View profile | 1001-5000 | New York, New York, United States, North America | www.medidata.com |
| Signant Health | View profile | 1001-5000 | Blue Bell, Pennsylvania, United States, North America | www.signanthealth.com/ |
Australia Virtual Clinical Trials Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Virtual Clinical Trials Market Outlook will help companies and investors design strategic landscapes.
Interventional was the largest segment with a revenue share of 50.19% in 2023.
Horizon Databook has segmented the Australia virtual clinical trials market based on interventional, observational, expanded access covering the revenue growth of each sub-segment from 2017 to 2030.
Cancer is the leading cause of total injury and burden of disease in Australia. According to a survey carried by Australian Institute of Health and Welfare, around 134,174 and 149,990 people in Australia were estimated to be diagnosed with cancer in 2017 and 2020, respectively.
This is creating high demand for advanced technologies for treatment, which in turn is boosting the demand for more clinical trials. Owing to coronavirus pandemic, the Australian National Health and Medical Research Council (NHMRC) has released COVID-19 guidance on clinical trials for institutions, researchers, and sponsors.
It accepts & encourages the use of digital strategies to continue clinical trials during the pandemic. The last broad suggestion by NHMRC creates the way for technology & life sciences industries to collaborate & create novel methods to use technologies in clinical trials as long as they protect against infection, safeguard people’s health & reduce burden in taking part in clinical trials.
- Australia Virtual Clinical Trials Market Study Design Outlook (Revenue, USD Million , 2018-2030)
- Interventional
- Observational
- Expanded Access
- Australia Virtual Clinical Trials Market Indication Outlook (Revenue, USD Million , 2018-2030)
- Oncology
- Cardiovascular
- Others
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia Virtual Clinical Trials Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Australia Virtual Clinical Trials Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Australia Virtual Clinical Trials Market, 2018-2030 (US$M)
Australia virtual clinical trials market statistics, by study design, 2017-2030 (US$M)
