Mexico - Latin America Virtual Clinical Trials Market Size & Outlook
- HC Outsourcing
- Clinical Trials
- Virtual Clinical Trials Market Outlook
- Clinical Trials
Global Market
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Mexico virtual clinical trials market highlights
- The Mexico virtual clinical trials market generated a revenue of USD 115.8 million in 2023 and is expected to reach USD 170.7 million by 2030.
- The Mexico market is expected to grow at a CAGR of 5.7% 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 115.8 million |
| Market revenue in 2030 | USD 170.7 million |
| Growth rate | 5.7% (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, Mexico accounted for 1.3% 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 Latin America, Brazil virtual clinical trials market is projected to lead the regional market in terms of revenue in 2030.
- Argentina is the fastest growing regional market in Latin America and is projected to reach USD 142.8 million by 2030.
Mexico is the largest exporter of medical devices and a prominent exporter of pharmaceuticals in Latin America. This is expected to drive the market for virtual clinical trials in the country. Mexico is a land of diverse demographic profile, which creates opportunities for enrolment of patients at a large scale.
Furthermore, IMSS and other national health institutions potentially have repository of more than 70% of the patient population. Such factors make Mexico a suitable country for conducting virtual clinical trials, thus aiding in the market growth.
The current COVID-19 pandemic has interrupted many existing and new clinical trials. As of 3rd February 2021, there are over 1,874,092 coronavirus cases, leading to over 159,533 deaths in Mexico. Virtual clinical trials provide a cost-effective solution to this problem, thereby boosting the growth of virtual clinical trials market in Mexico.
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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/ |
Mexico - Latin America 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 49.57% in 2023.
Horizon Databook has segmented the Mexico - Latin America virtual clinical trials market based on interventional, observational, expanded access covering the revenue growth of each sub-segment from 2017 to 2030.
Mexico is the largest exporter of medical devices and a prominent exporter of pharmaceuticals in Latin America. This is expected to drive the market for virtual clinical trials in the country. Mexico is a land of diverse demographic profile, which creates opportunities for enrolment of patients at a large scale.
Furthermore, IMSS and other national health institutions potentially have repository of more than 70% of the patient population. Such factors make Mexico a suitable country for conducting virtual clinical trials, thus aiding in the market growth.
The current COVID-19 pandemic has interrupted many existing and new clinical trials. As of 3rd February 2021, there are over 1,874,092 coronavirus cases, leading to over 159,533 deaths in Mexico. Virtual clinical trials provide a cost-effective solution to this problem, thereby boosting the growth of virtual clinical trials market in Mexico.
- Mexico - Latin America Virtual Clinical Trials Market Study Design Outlook (Revenue, USD Million , 2018-2030)
- Interventional
- Observational
- Expanded Access
- Mexico - Latin America 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 Mexico - Latin America Virtual Clinical Trials Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Mexico - Latin America Virtual Clinical Trials Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Mexico - Latin America Virtual Clinical Trials Market, 2018-2030 (US$M)
Mexico virtual clinical trials market statistics, by study design, 2017-2030 (US$M)
