GVR Report cover Virtual Clinical Trials Market Size, Share & Trends Report

Virtual Clinical Trials Market Size, Share & Trends Analysis Report By Study Design (Interventional, Observational, Expanded Access), By Indication (Oncology, Cardiovascular Disease), By Phase, By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-4-68039-239-7
  • Number of Report Pages: 133
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2023
  • Forecast Period: 2023 - 2030 
  • Industry: Healthcare

Virtual Clinical Trials Market Size & Trends

The global virtual clinical trials market was valued at USD 8.75 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2030. The market is majorly driven by a rise in R&D activities, increasing healthcare digitization, as well as the adoption of telehealth. Besides, technological advancements, alliances between clinical research organizations, pharmaceutical, and biotechnology companies as well as supportive government initiatives are anticipated to drive the market. The COVID-19 pandemic changed the way of conducting ongoing or upcoming trials which positively impacted the virtual clinical trials industry.

U.S. Virtual Clinical Trials Market size and growth rate, 2024 - 2030

Rising penetration of technology in healthcare is expected to drive the market growth. Digital technology is transforming the entire process of drug development. The advent of mobile & wearables, artificial intelligence, cloud technology, and associated platforms now enable collection of frequent, precise, and multidimensional data during the length of trials. These advanced technologies have the potential to enable innovative trial designs that lead to easy recruitment & retention, improve patient experience, and establish novel endpoints in clinical studies.

Moreover, to ensure efficiency of clinical trials based on new perspectives, an advanced strategy called patient-centricity has emerged. Clinical trial sponsors such as Pfizer and Sanofi have aligned their strategies of business development and designed new apps & wearables that enhance data collection and improve direct communication with patients.With apps & wearable devices directly connected to patients’ phones, clinical trials can now have access to data based on patients’ daily behavior.

Virtual methods let people take part in the trial from their homes ensuring research can continue even when site visits cannot, hence, representing a novel approach of collecting safety and efficacy data from participants of clinical studies. Virtual visits and remote patient monitoring of in-person site visits give participants a choice and peace of mind for not being exposed to unnecessary risks. virtual studies enable sponsors to include a larger population in the study, thus improving recruitment, engagement, and retention. Also, it enables continuous real-time data collection through digital health technologies. Eventually, virtual connectivity, monitoring as well as management can significantly decrease an effort, time commitment, and burden on the participants, CRCs, and investigators.

Market Concentration & Characteristics

Market growth stage is medium, and pace of the market growth is accelerating. The virtual clinical trials market is characterized by a high degree of innovation. Rapid advancement of technology, particularly in the fields of telemedicine, remote monitoring, wearable devices, and electronic data capture, has paved the way for more sophisticated virtual clinical trial methodologies.

Virtual Clinical Trials Market Concentration & Characteristics

Virtual clinical trials market is also characterized by a medium level of merger and acquisition (M&A) activity by a leading player. Leading players are engaging M&A activities to expand their market presence and diversify their service offerings. Acquiring complementary technologies, expertise, or capabilities allows companies to strengthen their position in the virtual clinical trials ecosystem.

Virtual clinical trials market is characterized by a high impact of regulations. Regulatory agencies emphasize the importance of protecting the safety and rights of study participants. In virtual clinical trials, where participants may be remotely located, ensuring informed consent and monitoring participant safety become critical.

Virtual clinical trials market is characterized by a medium impact of service expansion.The virtual clinical trials market heavily relies on rapidly evolving technologies, and there is a need for some level of standardization to ensure interoperability and seamless integration of various tools and platforms. Service expansion may be moderate due to ongoing efforts to standardize technologies across the industry.

Study Design Insights

Interventional design segment led the virtual clinical trials market with largest revenue share of 46.8% in 2023. The rapid increase in number of experiments to develop novel medications for various diseases and the digitalization of laboratories are factors driving the segment. The outbreak of coronavirus has raised the demand for testing and trials of new drugs and vaccines to combat the situation around the world as the traditional method of clinical trials comes with a huge risk of infection in people. Thus, propelling the demand for interventional study designs.

Virtual trials are better suited for chronic diseases as well as less interventional observational studies including cardiovascular diseases, immunology, gastrointestinal, dermatology, respiratory, and endocrinology. The firm that first started this concept conducted an entire interventional Phase2b “site-less” clinical trial with 372 patients across 10 states using their proprietary mobile telemedicine-based platform namely “NORA”.

Expanded access segment is projected to witness a rapid growth of 5.9% during a forecast period. Expanded access is a potential pathway that is appropriate where the potential benefit for the patient subdues the potential risks, hence continuous emergence of new variants of COVID-19 is expected to drive demand for expanded access to new drugs over a short term.

Indication Insights

Oncology segment dominated a market for virtual/decentralized clinical trials and accounted for a largest revenue share of over 25.0% in 2023. The segment is also anticipated to contribute to the maximum share of a market during the forecast period. This is attributed to a rising cases of cancer globally and the increasing number of oncology clinical trials. Cancer patients are the most vulnerable during the COVID-19 pandemic. Investigators and sponsors managing oncology clinical trials have quickly incorporated virtual and remote trials to keep patients safe and trials moving forward.

Global Virtual Clinical Trials Marketshare and size, 2023

Cardiovascular segment is anticipated to witness a significant growth rate over a forecast period. Rising incidence of cardiovascular disorder across the globe is expected to drive the segment growth. According to WHO, an estimated 17.9 million people die every year owing to cardiovascular diseases, making it the biggest cause of death globally. According to CDC, one person dies every 36 seconds in the U.S. due to cardiovascular diseases.

Phase Insights

Phase II segment dominated virtual clinical trials market and accounted for largest revenue share of over 30% in 2023. This is largely due to the adoption of DCT tools and platforms in phase II and phase I clinical trial procedures for patient participation. Virtual clinical trials are most beneficial in phase II of the clinical trials as It delivers value to the biopharmaceutical and pharmaceutical industry by saving time-sensitive patient data, delayed approvals, and site payments.

Traditional phase II clinical trials are the most expensive trials because s largest expense is the central clinical located in a large hospital to which the participants are required to report on a regular basis. Also, there is a large number of participants in the phase II clinical trials. While phase II virtual clinical trials are performed remotely with a help of the Internet, from recruiting to screening the data, which reduces a travel burden of the participants in the phase II trials and also reduces the cost of trials that no longer need to support frequent visit to the hospitals.

Phase III segment is anticipated to register a fastest CAGR of over 5.0% over the forecast period. Digital forces such as Big Data, Artificial Intelligence, Computing, Cloud, robotics, and social media offer opportunities to reimagine clinical trial processes. Some pharmaceutical companies are conducting virtual trials in addition to onsite traditional trials in Phase III & phase IV for additional data from diverse patient populations across the globe. Virtual clinical trials in phase III could automate data collection, increase patient engagement and retention, and data can be easily accessed through a monitoring device by trial investigators in real-time. The aforementioned associated benefits are further anticipated to provide this segment with lucrative growth opportunities in the near future.

Regional Insights

North America accounted for a largest regional revenue share of 48.73% in 2023 and is expected to continue its dominance over the forecast period. This can be attributed to increasing R&D in this region, increasing an adoption of new technologies in clinical research as well as government support. Furthermore, market players are also using digital technologies to meet client needs. For instance, Parexel performed more than 100 decentralized trials including hybrid and virtual approaches. Covance also has around 1,900 LabCorp Patient Service Centers across the U.S. that bring the trial to patients.

Virtual Clinical Trials MarketTrends by Region, 2024 - 2030

The U.S. contributed to a maximum share of the North American market. It accounted for over 90% of the North American virtual clinical trials market. This can be attributed to the presence of several players (such as ICON plc; IQVIA Holdings, Inc.; Covance, Inc.; PAREXEL; PRA Health Sciences; Medable, Inc.) that provide decentralized clinical trial services. Moreover, players are also introducing new products to increase their market share. Furthermore, due to the COVID 19 pandemic, the interest of researchers in virtual clinical trials has increased. The number of studies has risen exponentially since the pandemic, accelerating a long-simmering trend of virtual clinical trials that might persistently change the face of clinical research.

Asia Pacific is expected to witness exponential growth of 6.8% over a forecast period. Increasing rate of cardiovascular diseases and growing geriatric population are among factors projected to boost a growth of virtual clinical trials market over the forecast period. An increasing number of clinical trials to find effective and reliable solutions to decrease or cure and avoid the spread of cardiovascular and other diseases is expected to boost the demand for virtual clinical trials during the forecast period. Indian virtual clinical trials market is expected to be a fastest growing in Asia Pacific region in the next seven years, followed by China. Japan was the largest market in Asia Pacific region in 2023, majorly due to high healthcare and R&D expenditure and increasing demand for virtual clinical trials in the market.

Japan is a fifth largest market for virtual clinical trials in Asia Pacific region. Some of the major factors contributing to a growth of this market are rapid technological advancements and considerable healthcare expenditure. Japan is also expected to dominate the market owing to increasing demand for new and cost-effective clinical trials. Thus, increase in the need to maintain standards and curb healthcare expenditure are anticipated to drive the market in Japan. As Japan is technologically developed, there are various CROs that provide virtual solutions for clinical research

Key virtual clinical trials Company Insights

The market for global virtual clinical trials is highly competitive. Significant factors affecting the competitive nature are the quick adoption of advanced technology for improved healthcare. Besides, players are also acquiring, collaborating, and partnering with other firms to gain market share. For instance, in February 2023, Nova Scotia Health forged a strategic partnership with Medable Inc. for a two-year pilot study aimed at enhancing access to clinical trials. This collaboration exemplified a progressive approach in utilizing virtual clinical trial technologies to overcome geographical constraints, optimize patient experience, and elevate overall outcomes within the realm of clinical research.

Key Virtual Clinical Trials Companies:

The following are the leading companies in the virtual clinical trials market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these virtual clinical trials companies are analyzed to map the supply network.

  • ICON, plc
  • Parexel International Corporation
  • IQVIA
  • Covance
  • PRA Health Sciences
  • LEO Innovation Lab
  • Medidata
  • Oracle
  • CRF Health
  • Clinical Ink
  • Medable, Inc.
  • Signant Health
  • Halo Health Systems
  • Croprime

Recent Developments

  • In July 2023, Signant Health completed the acquisition of DSG, strategically augmenting its eClinical solution suite for both traditional and decentralized clinical trials. By integrating DSG's unified platform, the acquisition facilitated the development of a comprehensive trial ecosystem equipped with advanced software, analytics, and logistics solutions, enabling seamless study conduct and data generation across all modalities, thereby accomplishing the goal of fully digitalizing clinical trials.

  • In June 2023, Medable Inc. unveiled a comprehensive toolkit tailored for Institutional Review Boards (IRBs)/Ethics Committees (ECs), designed to establish standardized ethics review procedures for decentralized clinical trials (DCTs). The implementation of this toolkit successfully simplified, streamlined, and accelerated the IRB/EC process, playing a pivotal role in fostering enhanced efficiency and patient-centeredness in the execution of DCTs.

  • In October 2022, Oracle and ObvioHealth entered into a strategic collaboration to integrate diverse data sets into virtual/decentralized clinical trials in the Asia Pacific region. This initiative is expected to allow the quick collection, integration and analysis of multi-source data collected from labs, devices, patients, and sites.

Virtual Clinical Trials Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 9.3 billion

Revenue forecast in 2030

USD 12.9 billion

Growth rate

CAGR of 5.7% from 2024 to 2030

Historical data

2018 - 2023

Forecast period

2024 - 2030

Quantitative units

Revenue in USD Million and CAGR from 2024 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Study design, indication, phase, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait

Key companies profiled

ICON, plc; Parexel International Corporation; IQVIA; Covance; PRA Health Sciences; LEO Innovation Lab; Medidata; Oracle; CRF Health; Clinical Ink; Medable, Inc; Clinical Ink; Halo Health Systems; Croprime

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

 

Global Virtual Clinical Trials Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global virtual clinical trials market report based on study design, indication, phase, and region:

Global Virtual Clinical Trials Market Report Segmentation

  • Study Design Outlook (Revenue, USD Million, 2018 - 2030)

    • Interventional

    • Observational

    • Expanded Access

  • Indication Outlook (Revenue, USD Million, 2018 - 2030)

    • CNS

    • Autoimmune/Inflammation

    • Cardiovascular Disease

    • Metabolic/Endocrinology

    • Infectious Disease

    • Oncology

    • Genitourinary

    • Ophthalmology

    • Others

  • Phase Outlook (Revenue, USD Million, 2018 - 2030)

    • Phase I

    • Phase II

    • Phase III

    • Phase IV

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

      • Sweden

      • Norway

      • Denmark

    • Asia Pacific

      • Japan

      • China

      • India

      • South Korea

      • Australia

      • Thailand

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

      • Kuwait

Frequently Asked Questions About This Report

Table of Contents

Chapter 1. Virtual Clinical Trials Market: Methodology and Scope
                    1.1. Market Segmentation and Scope
                    1.2. Research Methodology
                        1.2.1. Information Procurement
                    1.3. Information or Data Analysis
                    1.4. Methodology
                    1.5. Research Scope and Assumptions
                    1.6. Market Formulation & Validation
                        1.6.1. COUNTRY MARKET: CAGR CALCULATION
                    1.7. Country Based Segment Share Calculation
                    1.8. List of Data Sources
Chapter 2. Virtual Clinical Trials Market: Executive Summary
                    2.1. Market Outlook
                    2.2. Segment Outlook
                    2.3. Regional Insights
                    2.4. Competitive Insights
                    2.5. Virtual Clinical Trials Market Snapshot
                    2.6. Virtual Clinical Trials Market Segment Snapshot
                    2.7. Virtual Clinical Trials Market Competitive Landscape Snapshot
Chapter 3. Virtual Clinical Trials Market: Variables, Trends, & Scope
                    3.1. Market Lineage Outlook
                    3.2. Market Dynamics
                        3.2.1. Market Driver Analysis
                            3.2.1.1. The growing role of technology in the healthcare
                            3.2.1.2. Benefits of virtual trials
                            3.2.1.3. Government support
                        3.2.2. Market Restraint Analysis
                            3.2.2.1. Data security
                        3.2.3. Market Challenge Analysis
                    3.3. Virtual Clinical Trials Market Analysis Tools
                        3.3.1. Industry Analysis – Porter’s
                            3.3.1.1. Bargaining power of the suppliers
                            3.3.1.2. Bargaining power of the buyers
                            3.3.1.3. Threats of substitution
                            3.3.1.4. Threats from new entrants
                            3.3.1.5. Competitive rivalry
                        3.3.2. PESTEL Analysis
                            3.3.2.1. Political landscape
                            3.3.2.2. Economic and Social landscape
                            3.3.2.3. Technological landscape
                        3.3.3. COVID-19 pandemic impact on clinical trial activity
Chapter 4. Virtual Clinical Trials Market: Study Design Estimates & Trend Analysis
                    4.1. Segment Dashboard
                    4.2. Virtual Clinical Trials Market: Study Design Movement Analysis, USD Million, 2022 & 2030
                    4.3. Interventional
                        4.3.1. Interventional Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
                    4.4. Observational
                        4.4.1. Observational Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
                    4.5. Expand Access
                        4.5.1. Expand Access Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Virtual Clinical Trials Market: Indication Estimates & Trend Analysis
                    5.1. Segment Dashboard
                    5.2. Virtual Clinical Trials Market: Indication Movement Analysis, USD Million, 2022 & 2030
                    5.3. CNS
                        5.3.1. CNS Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
                    5.4. Autoimmune/Inflammation
                        5.4.1. Autoimmune/Inflammation Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
                    5.5. Cardiovascular Disease
                        5.5.1. Cardiovascular Disease Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
                    5.6. Metabolic/Endocrinology
                        5.6.1. Metabolic/Endocrinology Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
                    5.7. Infectious Disease
                        5.7.1. Infectious Disease Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
                    5.8. Oncology
                        5.8.1. Oncology Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
                    5.9. Genitourinary
                        5.9.1. Genitourinary Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
                    5.10. Ophthalmology
                        5.10.1. Ophthalmology Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
                    5.11. Others
                        5.11.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Virtual Clinical Trials Market: Phase Estimates & Trend Analysis
                    6.1. Segment Dashboard
                    6.2. Virtual Clinical Trials Market: Phase Movement Analysis, USD Million, 2022 & 2030
                    6.3. Phase I
                        6.3.1. Phase I Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
                    6.4. Phase II
                        6.4.1. Phase II Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
                    6.5. Phase III
                        6.5.1. Phase III Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
                    6.6. Phase IV
                        6.6.1. Phase IV Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Virtual Clinical Trials Market: Regional Estimates & Trend Analysis
                    7.1. Virtual Clinical Trials Market: Regional Movement Analysis, 2022 & 2030
                    7.2. North America
                        7.2.1. North America Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.2.2. U.S.
                            7.2.2.1. Key Country Dynamics
                            7.2.2.2. Competitive Scenario
                            7.2.2.3. Prevalence Insights
                            7.2.2.4. Regulatory Framework
                            7.2.2.5. Reimbursement Structure
                            7.2.2.6. U.S. Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.2.3. Canada
                            7.2.3.1. Key Country Dynamics
                            7.2.3.2. Competitive Scenario
                            7.2.3.3. Prevalence Insights
                            7.2.3.4. Regulatory Framework
                            7.2.3.5. Reimbursement Structure
                            7.2.3.6. Canada Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                    7.3. Europe
                        7.3.1. Europe Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.3.2. UK
                            7.3.2.1. Key Country Dynamics
                            7.3.2.2. Competitive Scenario
                            7.3.2.3. Prevalence Insights
                            7.3.2.4. Regulatory Framework
                            7.3.2.5. Reimbursement Structure
                            7.3.2.6. UK Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.3.3. Germany
                            7.3.3.1. Key Country Dynamics
                            7.3.3.2. Competitive Scenario
                            7.3.3.3. Prevalence Insights
                            7.3.3.4. Regulatory Framework
                            7.3.3.5. Reimbursement Structure
                            7.3.3.6. Germany Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.3.4. France
                            7.3.4.1. Key Country Dynamics
                            7.3.4.2. Competitive Scenario
                            7.3.4.3. Prevalence Insights
                            7.3.4.4. Regulatory Framework
                            7.3.4.5. Reimbursement Structure
                            7.3.4.6. France Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.3.5. Italy
                            7.3.5.1. Key Country Dynamics
                            7.3.5.2. Competitive Scenario
                            7.3.5.3. Prevalence Insights
                            7.3.5.4. Regulatory Framework
                            7.3.5.5. Reimbursement Structure
                            7.3.5.6. Italy Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.3.6. Spain
                            7.3.6.1. Key Country Dynamics
                            7.3.6.2. Competitive Scenario
                            7.3.6.3. Prevalence Insights
                            7.3.6.4. Regulatory Framework
                            7.3.6.5. Reimbursement Structure
                            7.3.6.6. Spain Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.3.7. Denmark
                            7.3.7.1. Key Country Dynamics
                            7.3.7.2. Competitive Scenario
                            7.3.7.3. Prevalence Insights
                            7.3.7.4. Regulatory Framework
                            7.3.7.5. Reimbursement Structure
                            7.3.7.6. Denmark Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.3.8. Sweden
                            7.3.8.1. Key Country Dynamics
                            7.3.8.2. Competitive Scenario
                            7.3.8.3. Prevalence Insights
                            7.3.8.4. Regulatory Framework
                            7.3.8.5. Reimbursement Structure
                            7.3.8.6. Sweden Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.3.9. Norway
                            7.3.9.1. Key Country Dynamics
                            7.3.9.2. Competitive Scenario
                            7.3.9.3. Prevalence Insights
                            7.3.9.4. Regulatory Framework
                            7.3.9.5. Reimbursement Structure
                            7.3.9.6. Norway Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                    7.4. Asia Pacific
                        7.4.1. Asia Pacific Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.4.2. Japan
                            7.4.2.1. Key Country Dynamics
                            7.4.2.2. Competitive Scenario
                            7.4.2.3. Prevalence Insights
                            7.4.2.4. Regulatory Framework
                            7.4.2.5. Reimbursement Structure
                            7.4.2.6. Japan Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.4.3. China
                            7.4.3.1. Key Country Dynamics
                            7.4.3.2. Competitive Scenario
                            7.4.3.3. Prevalence Insights
                            7.4.3.4. Regulatory Framework
                            7.4.3.5. Reimbursement Structure
                            7.4.3.6. China Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.4.4. India
                            7.4.4.1. Key Country Dynamics
                            7.4.4.2. Competitive Scenario
                            7.4.4.3. Prevalence Insights
                            7.4.4.4. Regulatory Framework
                            7.4.4.5. Reimbursement Structure
                            7.4.4.6. India Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.4.5. Australia
                            7.4.5.1. Key Country Dynamics
                            7.4.5.2. Competitive Scenario
                            7.4.5.3. Prevalence Insights
                            7.4.5.4. Regulatory Framework
                            7.4.5.5. Reimbursement Structure
                            7.4.5.6. Australia Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.4.6. Thailand
                            7.4.6.1. Key Country Dynamics
                            7.4.6.2. Competitive Scenario
                            7.4.6.3. Prevalence Insights
                            7.4.6.4. Regulatory Framework
                            7.4.6.5. Reimbursement Structure
                            7.4.6.6. Thailand Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.4.7. South Korea
                            7.4.7.1. Key Country Dynamics
                            7.4.7.2. Competitive Scenario
                            7.4.7.3. Prevalence Insights
                            7.4.7.4. Regulatory Framework
                            7.4.7.5. Reimbursement Structure
                            7.4.7.6. South Korea Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                    7.5. Latin America
                        7.5.1. Latin America Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.5.2. Brazil
                            7.5.2.1. Key Country Dynamics
                            7.5.2.2. Competitive Scenario
                            7.5.2.3. Prevalence Insights
                            7.5.2.4. Regulatory Framework
                            7.5.2.5. Reimbursement Structure
                            7.5.2.6. Brazil Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.5.3. Mexico
                            7.5.3.1. Key Country Dynamics
                            7.5.3.2. Competitive Scenario
                            7.5.3.3. Prevalence Insights
                            7.5.3.4. Regulatory Framework
                            7.5.3.5. Reimbursement Structure
                            7.5.3.6. Mexico Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.5.4. Argentina
                            7.5.4.1. Key Country Dynamics
                            7.5.4.2. Competitive Scenario
                            7.5.4.3. Prevalence Insights
                            7.5.4.4. Regulatory Framework
                            7.5.4.5. Reimbursement Structure
                            7.5.4.6. Argentina Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                    7.6. Middle East & Africa
                        7.6.1. Middle East & Africa Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.6.2. South Africa
                            7.6.2.1. Key Country Dynamics
                            7.6.2.2. Competitive Scenario
                            7.6.2.3. Prevalence Insights
                            7.6.2.4. Regulatory Framework
                            7.6.2.5. Reimbursement Structure
                            7.6.2.6. South Africa Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.6.3. Saudi Arabia
                            7.6.3.1. Key Country Dynamics
                            7.6.3.2. Competitive Scenario
                            7.6.3.3. Prevalence Insights
                            7.6.3.4. Regulatory Framework
                            7.6.3.5. Reimbursement Structure
                            7.6.3.6. Saudi Arabia Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.6.4. UAE
                            7.6.4.1. Key Country Dynamics
                            7.6.4.2. Competitive Scenario
                            7.6.4.3. Prevalence Insights
                            7.6.4.4. Regulatory Framework
                            7.6.4.5. Reimbursement Structure
                            7.6.4.6. UAE Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
                        7.6.5. Kuwait
                            7.6.5.1. Key Country Dynamics
                            7.6.5.2. Competitive Scenario
                            7.6.5.3. Prevalence Insights
                            7.6.5.4. Regulatory Framework
                            7.6.5.5. Reimbursement Structure
                            7.6.5.6. Kuwait Virtual Clinical Trials Market Estimates And Forecasts, 2018 – 2030 (USD Million)
Chapter 8. Competitive Landscape
                    8.1. Company Categorization
                    8.2. Company Market Share Analysis, 2022
                    8.3. Strategy Mapping
                    8.4. Company Profiles/Listing
                        8.4.1. ICON, plc
                            8.4.1.1. Overview
                            8.4.1.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
                            8.4.1.3. Product Benchmarking
                            8.4.1.4. Strategic Initiatives
                        8.4.2. PAREXEL International Corporation
                            8.4.2.1. Overview
                            8.4.2.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
                            8.4.2.3. Product Benchmarking
                            8.4.2.4. Strategic Initiatives
                        8.4.3. IQVIA
                            8.4.3.1. Overview
                            8.4.3.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
                            8.4.3.3. Product Benchmarking
                            8.4.3.4. Strategic Initiatives
                        8.4.4. Covance
                            8.4.4.1. Overview
                            8.4.4.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
                            8.4.4.3. Product Benchmarking
                            8.4.4.4. Strategic Initiatives
                        8.4.5. PRA Health Sciences
                            8.4.5.1. Overview
                            8.4.5.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
                            8.4.5.3. Product Benchmarking
                            8.4.5.4. Strategic Initiatives
                        8.4.6. LEO Innovation Lab
                            8.4.6.1. Overview
                            8.4.6.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
                            8.4.6.3. Product Benchmarking
                            8.4.6.4. Strategic Initiatives
                        8.4.7. Medidata
                            8.4.7.1. Overview
                            8.4.7.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
                            8.4.7.3. Product Benchmarking
                            8.4.7.4. Strategic Initiatives
                        8.4.8. Oracle
                            8.4.8.1. Overview
                            8.4.8.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
                            8.4.8.3. Product Benchmarking
                            8.4.8.4. Strategic Initiatives
                        8.4.9. CRF Health
                            8.4.9.1. Overview
                            8.4.9.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
                            8.4.9.3. Product Benchmarking
                            8.4.9.4. Strategic Initiatives
                        8.4.10. Clinical Ink
                            8.4.10.1. Overview
                            8.4.10.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
                            8.4.10.3. Product Benchmarking
                            8.4.10.4. Strategic Initiatives
                        8.4.11. Medable Inc.
                            8.4.11.1. Overview
                            8.4.11.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
                            8.4.11.3. Product Benchmarking
                            8.4.11.4. Strategic Initiatives
                        8.4.12. Signant Health
                            8.4.12.1. Overview
                            8.4.12.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
                            8.4.12.3. Product Benchmarking
                            8.4.12.4. Strategic Initiatives
                        8.4.13. Halo Health Systems
                            8.4.13.1. Overview
                            8.4.13.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
                            8.4.13.3. Product Benchmarking
                            8.4.13.4. Strategic Initiatives
                        8.4.14. Croprime
                            8.4.14.1. Overview
                            8.4.14.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
                            8.4.14.3. Product Benchmarking
                            8.4.14.4. Strategic Initiatives


List of Tables

Table 1. List of secondary sources
Table 2. List of abbreviations
Table 3. Global Virtual Clinical Trials Market, By Region, 2018 - 2030 (USD Million)
Table 4. Global Virtual Clinical Trials Market, By Study Design, 2018 - 2030 (USD Million)
Table 5. Global Virtual Clinical Trials Market, By Indication, 2018 - 2030 (USD Million)
Table 6. Global Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 7. North America Virtual Clinical Trials Market, By Country, 2018 - 2030 (USD Million)
Table 8. North America Virtual Clinical Trials Market, By Study Design, 2018 - 2030 (USD Million)
Table 9. North America Virtual Clinical Trials Market, By Indication, 2018 - 2030 (USD Million)
Table 10. North America Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 11. U.S. Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 12. U.S. Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 13. U.S. Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 14. Canada Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 15. Canada Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 16. Canada Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 17. Europe Virtual Clinical Trials Market, by Country, 2018 - 2030 (USD Million)
Table 18. Europe Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 19. Europe Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 20. Europe Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 21. UK Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 22. UK Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 23. UK Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 24. Germany Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 25. Germany Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 26. Germany Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 27. France Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 28. France Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 29. France Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 30. Italy Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 31. Italy Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 32. Italy Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 33. Spain Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 34. Spain Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 35. Spain Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 36. Denmark Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 37. Denmark Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 38. Denmark Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 39. Sweden Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 40. Sweden Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 41. Sweden Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 42. Norway Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 43. Norway Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 44. Norway Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 45. Asia Pacific Virtual Clinical Trials Market, by Country, 2018 - 2030 (USD Million)
Table 46. Asia Pacific Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 47. Asia Pacific Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 48. Asia Pacific Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 49. Japan Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 50. Japan Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 51. Japan Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 52. China Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 53. China Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 54. China Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 55. India Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 56. India Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 57. India Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 58. Australia Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 59. Australia Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 60. Austraila Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 61. Thailand Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 62. Thailand Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 63. Thailand Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 64. South Korea Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 65. South Korea Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 66. South Korea Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 67. Latin America Virtual Clinical Trials Market, by Country, 2018 - 2030 (USD Million)
Table 68. Latin America Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 69. Latin America Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 70. Latin America Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 71. Brazil Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 72. Brazil Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 73. Brazil Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 74. Mexico Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 75. Mexico Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 76. Mexico Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 77. Argentina Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 78. Argentina Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 79. Argentina Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 80. MEA Virtual Clinical Trials Market, by Country, 2018 - 2030 (USD Million)
Table 81. MEA Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 82. MEA Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 83. MEA Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 84. South Africa Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 85. South Africa Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 86. South Africa Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 87. Saudi Arabia Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 88. Saudi Arabia Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 89. Saudi Arabia Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 90. UAE Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 91. UAE Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 92. UAE Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 93. Kuwait Virtual Clinical Trials Market, by Study Design, 2018 - 2030 (USD Million)
Table 94. Kuwait Virtual Clinical Trials Market, by Indication, 2018 - 2030 (USD Million)
Table 95. Kuwait Virtual Clinical Trials Market, By Phase, 2018 - 2030 (USD Million)
Table 96. Participant’s overview
Table 97. Financial performance
Table 98. Key companies undergoing expansions
Table 99. Key companies undergoing acquisitions
Table 100. Key companies undergoing collaborations
Table 101. Key companies launching new products/services
Table 102. Key companies undergoing partnerships
Table 103. Key companies undertaking other strategies


List of Figures

Fig. 1 Market segmentation
Fig. 2 Market research process
Fig. 3 Data triangulation techniques
Fig. 4 Primary research pattern
Fig. 5 Market research approaches
Fig. 6 Value-chain-based sizing & forecasting
Fig. 7 QFD modeling for market share assessment
Fig. 8 Market formulation and validation
Fig. 9 Commodity flow analysis
Fig. 10 Virtual Clinical Trials Market Outlook, 2018 - 2030 (USD Million)
Fig. 11 Virtual Clinical Trials Market Summary, 2021 (USD Million)
Fig. 12 Market trends & outlook
Fig. 13 Parent Market Outlook
Fig. 14 Ancillary Market Outlook
Fig. 15 Market driver analysis (Current & future impact)
Fig. 16 Market restraint analysis (Current & future impact)
Fig. 17 Company market position analysis
Fig. 18 Virtual Clinical Trials market, study design outlook key takeaways (USD Million)
Fig. 19 Virtual Clinical Trials market: Study design movement analysis (USD Million)
Fig. 20 Interventional market, 2018 - 2030 (USD Million)
Fig. 21 Observational market, 2018 - 2030 (USD Million)
Fig. 22 Expanded access market, 2018 - 2030 (USD Million)
Fig. 23 Virtual clinical trials market indication outlook: Key takeaways
Fig. 24 Virtual clinical trials market: Indication movement analysis
Fig. 25 CNS market, 2018 - 2030 (USD Million)
Fig. 26 Autoimmune/inflammation market, 2018 - 2030 (USD Million)
Fig. 27 Cardiovascular disease market, 2018 - 2030 (USD Million)
Fig. 28 Metabolic/endocrinology market, 2018 - 2030 (USD Million)
Fig. 29 Infectious diseases market, 2018 - 2030 (USD Million)
Fig. 30 Oncology market, 2018 - 2030 (USD Million)
Fig. 31 Genitourinary market, 2018 - 2030 (USD Million)
Fig. 32 Ophthalmology market, 2018 - 2030 (USD Million)
Fig. 33 Others market, 2018 - 2030 (USD Million)
Fig. 34 Virtual Clinical Trials market, phase outlook key takeaways (USD Million)
Fig. 35 Virtual Clinical Trials market: Phase movement analysis (USD Million)
Fig. 36 Phase I market, 2018 - 2030 (USD Million)
Fig. 37 Phase II market, 2018 - 2030 (USD Million)
Fig. 38 Phase III market, 2018 - 2030 (USD Million)
Fig. 39 Phase IV market, 2018 - 2030 (USD Million)
Fig. 40 Regional outlook, 2018 & 2030
Fig. 41 Regional market dashboard
Fig. 42 Regional market place: Key takeaways
Fig. 43 North America virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 44 U.S. virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 45 Canada virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 46 Europe virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 47 UK virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 48 Germany virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 49 France virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 50 Italy virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 51 Spain virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 52 Denmark virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 53 Sweden virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 54 Norway virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 55 Asia Pacific virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 56 Japan virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 57 China (Mainland) virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 58 India virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 59 Australia virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 60 Thailand virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 61 South Korea virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 62 Latin America virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 63 Brazil virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 64 Mexico virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 65 Argentina virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 66 MEA virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 67 South Africa virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 68 Saudi Arabia virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 69 UAE virtual clinical trials market, 2018 - 2030 (USD Million)
Fig. 70 Kuwait virtual clinical trials market, 2018 - 2030 (USD Million)

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Market Segmentation

  • Virtual Clinical Trials Study Design Outlook (Revenue, USD Million, 2018 - 2030)
    • Interventional
    • Observational
    • Expanded Access
  • Virtual Clinical Trials Indication Outlook (Revenue, USD Million, 2018 - 2030)
    • CNS
    • Autoimmune/Inflammation
    • Cardiovascular Disease
    • Metabolic/Endocrinology
    • Infectious Disease
    • Oncology
    • Genitourinary
    • Ophthalmology
    • Others
  • Virtual Clinical Trials Phase Outlook (Revenue, USD Million, 2018 - 2030)
    • Phase I
    • Phase II
    • Phase III
    • Phase IV
  • Virtual Clinical Trials Regional Outlook (Revenue, USD Million, 2018 - 2030)
    • North America
      • North America Virtual Clinical Trials Market, By Study Design
        • Interventional
        • Observational
        • Expanded Access
      • North America Virtual Clinical Trials Market, By Indication
        • CNS
        • Autoimmune/Inflammation
        • Cardiovascular Disease
        • Metabolic/Endocrinology
        • Infectious Disease
        • Oncology
        • Genitourinary
        • Ophthalmology
        • Others
      • North America Virtual Clinical Trials Market, By Phase
        • Phase I
        • Phase II
        • Phase III
        • Phase IV
      • U.S.
        • U.S. Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • U.S. Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • U.S. Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • Canada
        • Canada Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • Canada Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • Canada Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
    • Europe
      • Europe Virtual Clinical Trials Market, By Study Design
        • Interventional
        • Observational
        • Expanded Access
      • Europe Virtual Clinical Trials Market, By Indication
        • CNS
        • Autoimmune/Inflammation
        • Cardiovascular Disease
        • Metabolic/Endocrinology
        • Infectious Disease
        • Oncology
        • Genitourinary
        • Ophthalmology
        • Others
      • Europe Virtual Clinical Trials Market, By Phase
        • Phase I
        • Phase II
        • Phase III
        • Phase IV
      • UK
        • UK Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • UK Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • UK Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • Germany
        • Germany Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • Germany Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • Germany Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • France
        • France Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • France Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • France Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • Italy
        • Italy Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • Italy Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • Italy Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • Spain
        • Spain Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • Spain Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • Spain Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • Denmark
        • Denmark Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • Denmark Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • Denmark Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • Sweden
        • Sweden Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • Sweden Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • Sweden Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • Norway
        • Norway Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • Norway Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • Norway Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
    • Asia Pacific
      • Asia Pacific Virtual Clinical Trials Market, By Study Design
        • Interventional
        • Observational
        • Expanded Access
      • Asia Pacific Virtual Clinical Trials Market, By Indication
        • CNS
        • Autoimmune/Inflammation
        • Cardiovascular Disease
        • Metabolic/Endocrinology
        • Infectious Disease
        • Oncology
        • Genitourinary
        • Ophthalmology
        • Others
      • Asia Pacific Virtual Clinical Trials Market, By Phase
        • Phase I
        • Phase II
        • Phase III
        • Phase IV
      • Japan
        • Japan Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • Japan Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • Japan Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • China
        • China Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • China Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • China Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • India
        • India Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • India Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • India Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • Australia
        • Australia Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • Australia Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • Australia Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • Thailand
        • Thailand Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • Thailand Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • Thailand Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • South Korea
        • South Korea Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • South Korea Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • South Korea Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
    • Latin America
      • Latin America Virtual Clinical Trials Market, By Study Design
        • Interventional
        • Observational
        • Expanded Access
      • Latin America Virtual Clinical Trials Market, By Indication
        • CNS
        • Autoimmune/Inflammation
        • Cardiovascular Disease
        • Metabolic/Endocrinology
        • Infectious Disease
        • Oncology
        • Genitourinary
        • Ophthalmology
        • Others
      • Latin America Virtual Clinical Trials Market, By Phase
        • Phase I
        • Phase II
        • Phase III
        • Phase IV
      • Brazil
        • Brazil Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • Brazil Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • Brazil Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • Mexico
        • Mexico Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • Mexico Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • Mexico Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • Argentina
        • Argentina Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • Argentina Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • Argentina Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
    • MEA
      • MEA Virtual Clinical Trials Market, By Study Design
        • Interventional
        • Observational
        • Expanded Access
      • MEA Virtual Clinical Trials Market, By Indication
        • CNS
        • Autoimmune/Inflammation
        • Cardiovascular Disease
        • Metabolic/Endocrinology
        • Infectious Disease
        • Oncology
        • Genitourinary
        • Ophthalmology
        • Others
      • MEA Virtual Clinical Trials Market, By Phase
        • Phase I
        • Phase II
        • Phase III
        • Phase IV
      • South Africa
        • South Africa Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • South Africa Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • South Africa Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • Saudi Arabia
        • Saudi Arabia Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • Saudi Arabia Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • Saudi Arabia Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • UAE
        • UAE Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • UAE Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • UAE Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV
      • Kuwait
        • Kuwait Virtual Clinical Trials Market, By Study Design
          • Interventional
          • Observational
          • Expanded Access
        • Kuwait Virtual Clinical Trials Market, By Indication
          • CNS
          • Autoimmune/Inflammation
          • Cardiovascular Disease
          • Metabolic/Endocrinology
          • Infectious Disease
          • Oncology
          • Genitourinary
          • Ophthalmology
          • Others
        • Kuwait Virtual Clinical Trials Market, By Phase
          • Phase I
          • Phase II
          • Phase III
          • Phase IV

Virtual Clinical Trials Market Dynamics

Driver: The Growing Role of Technology in Healthcare

It has been observed that the current way of conducting a traditional clinical trial is coming to an end as the rising cost of running trials together with the commercial risk of failure is unsustainable. As progress is being made toward a more digitalized scenario, clinical studies are driven by the increasing adoption of advanced technologies that rapidly accelerate the digital transformation of their processes. As clinical trials are not optional, shifting to advanced technology & digital innovation is a solution to combat the problems associated with traditional clinical trials. Digital clinical trials, which were just a concept earlier, are now on track to become a reality. Digital technology is transforming the entire process of drug development. The advent of mobile & wearables, artificial intelligence (AI), cloud technology, and associated platforms now enable the collection of frequent, precise, and multidimensional data during the length of trials.

Driver: Benefits of Virtual Trials

As compared to traditional study models, the strength of the concept of virtual trial is the ability to make it easier to include patients from diverse regions, rural areas, and different socio-economic backgrounds in clinical trials. The traditional system requires many on-site procedures that consume a patient’s time. The average patient cannot take one day off every week to take part in clinical trials. Various protocols have two to five times the number of visits or procedures a patient would receive for the management of disease in the usual course of care. Thus, this increases patient burden, making it difficult to recruit & retain participants for clinical trials. Patients have to travel to sites that may be far from their homes and take an average of two to three hours to reach. Hence, only about 3% to 5% of eligible people get to enroll in clinical trials and there is a 30% dropout rate for those who do enroll in all clinical trials.

Restraint: Recruitment Obstacles

The success of clinical trials depends on the level of engagement of its clinical staff, oncologists, and patients from the very first phase. Unfortunately, several barriers are present within these groups for both psychological and logistical reasons. Consequently, less than 5% of adult patients diagnosed with cancer register in clinical trials. This is mainly due to various reasons including availability of trial, oncologist’s willingness to propose enrollment, site access, commitment of clinical staff, and patient concerns. Cancer researchers face considerable challenges in patient recruitment. As of June 2019, approximately 14,000 oncology trials were actively recruiting with a participation rate of 3% to 8% of possible candidates, with an even more limited number in minority and geriatric populations. Low rate of enrollment poses risks to the success of specific clinical trials and may hamper treatment advances & corresponding benefits to outcomes.

What Does This Report Include?

This section will provide insights into the contents included in this virtual clinical trials market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Virtual clinical trials market qualitative analysis

  • Industry overview

  • Industry trends

  • Market drivers and restraints

  • Market size

  • Growth prospects

  • Porter’s analysis

  • PESTEL analysis

  • Key market opportunities prioritized

  • Competitive landscape

    • Company overview

    • Financial performance

    • Product benchmarking

    • Latest strategic developments

Virtual clinical trials market quantitative analysis

  • Market size, estimates, and forecast from 2018 to 2030

  • Market estimates and forecast for product segments up to 2030

  • Regional market size and forecast for product segments up to 2030

  • Market estimates and forecast for application segments up to 2030

  • Regional market size and forecast for application segments up to 2030

  • Company financial performance

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Research Methodology

A three-pronged approach was followed for deducing the virtual clinical trials market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for virtual clinical trials market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of virtual clinical trials market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Virtual Clinical Trials Market Categorization:

The virtual clinical trials market was categorized into four segments, namely study design (Interventional, Observational, Expanded Access), indication (CNS, Autoimmune/Inflammation, Cardiovascular Disease, Metabolic/Endocrinology, Infectious Disease, Oncology, Genitourinary, Ophthalmology), phase (Phase I, Phase II, Phase III, Phase IV), region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Segment Market Methodology:

The virtual clinical trials market was segmented into study design, indication, phase, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The virtual clinical trials market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Virtual clinical trials market companies & financials:

The virtual clinical trials market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • ICON Plc - ICON Plc is a global CRO that provides clinical, consulting, and commercialization services. It specializes in strategic development management and analysis of programs that support clinical development ranging from the selection of a compound to phase I to phase IV clinical studies. The company also provides functional outsourcing & laboratory services. Its laboratory services include a range of high-value testing services including vaccines, biomarkers, good manufacturing practices, and bioanalytical & central laboratory services. The company offers full-service & functional service partnerships to customers. ICON provides development & commercialization services to medical device, biotechnology, pharmaceutical, and public health & government organizations. The company focuses on various therapeutics in areas, such as cardiology, central nervous system, cell & gene therapies, genomics, infectious diseases, ophthalmology, endocrine & metabolic disorders, transplant immunology, internal medicine & immunology, rare & orphan diseases, and women’s health. The company provides services from a global network of offices in 40 countries.

  • IQVIA - IQVIA formerly known as Quintiles IMS Holdings, Inc., provides healthcare IT services. The company offers contract research services to medical devices, biotechnology, and pharmaceutical companies. The service portfolio includes data analysis, regulatory assistance, patient recruitment, and laboratory testing. The company also offers technology, data, expertise, and analytics to various government agencies, healthcare payers, and medical researchers. The company operates in the Americas, Asia Pacific, Africa, and Europe. In 2018, the Quintiles and IMS Health merger led to the creation of IQVIA Holdings, Inc.

  • PAREXEL International Corporation - PAREXEL International Corporation offers services, such as medical communications, clinical research, consulting, advanced technology products & services, and commercialization services. These services are utilized by biotechnology, pharmaceutical, and medical device companies globally. The company operates in three segments: PAREXEL Consulting Services, PAREXEL Informatics, and Clinical Research Services (CRS). The services offered by the CRS segment include clinical trial management, biostatistics, observational studies, clinical logistics, and patient disease registries. The company became a subsidiary of Pamplona Capital Management in 2017.

  • Covance - Covance is the world’s most comprehensive drug development company. It was initially named Environmental Sciences Corporation and it was changed to Covance in the year 1996. In 1972, Covance acquired the toxicology testing laboratory of Hazleton. Covance Research Products, Inc. offers preclinical, nonclinical, clinical, and commercialization services to biotechnological & pharmaceutical companies to manage drug development efficiently through its product, Solutions Made Real. The company breeds “Mini-Mongrel” dogs, a new breed it has trademarked. In February 2015, Laboratory Corporation of America Holdings (LabCorp) acquired Covance, Inc.

  • PRA Health Sciences - PRA Health Sciences is a global CRO that outsources different clinical services to pharmaceutical and biotechnology companies. The company conducts clinical trials for therapeutic areas including infectious diseases, oncology, central nervous system, and inflammatory diseases. The service portfolio includes clinical trial management, regulatory assistance, drug development consulting, data management, and statistical analysis services. The company also provides functional outsourcing services from phase I to Ppase IV, covering both traditional and embedded services. The company operates in Asia, Australia, MEA, the Americas, and Europe. As of 2018, the company was present in over 80 countries across the globe.

  • LEO Innovation Lab - LEO Innovation Lab was established by LEO Pharma as a small organization and is dedicated to developing non-pharmaceutical solutions to improve the lives of people with psoriasis. The company operates independently as LEO Pharma and partners with startups worldwide to foster idea generation, collaboration, and solutionbuilding. The company develops digital platforms, apps, and other initiatives to support people suffering from psoriasis across all aspects of their lives, including mental health, family issues, health & beauty, and diet & nutrition.

  • Medidata - Medidata is leading the digital transformation of life sciences, creating hope for millions of patients. It helps generate evidence & insights to help academic researchers, diagnostics, medical device, biotech, & pharmaceutical companies and speed up value, minimize risk, & optimize outcomes. Over one million registered users and 1,400 customers & partners access the globe’s most-used platform for clinical development, real-world data, and commercial use. It is a Dassault Systèmes company and has offices around the world.

  • Signant Health - Signant Health was formed as a result of the merger of GRF Health and Bracket in 2018 and has emerged as a new leader in clinical trials. The company’s goal is to improve the lives of patients, study teams, and sites across the world by offering simple, intuitive technology that aids in simplifying clinical trials for everyone. The company has offices around the world with flexible remote locations for all employees to support clients anywhere.

  • Clinical Ink - Clinical Ink is an international clinical technology firm that provides data certainty from source to submission. The company is a pioneer in eSource. Its Lumenis eSource platform & configurable eCOA and ePRO modules are a suite of solutions for capturing & integrating electronic data from sites, physicians, and clinicians that naturally improve the clinical trial workflow by reducing manual labor. The company helps around various therapeutic areas including oncology, gastrointestinal, infectious diseases, virology, dermatology, and central nervous system. Its customer base includes CROs, academic institutions, and medical device & pharmaceutical companies.

  • Medable - Medable provides an end-to-end cloud platform with a flexible suite of tools that enable CROs, providers, patients, and sponsors to work together for a clinical trial. Its solutions enable more efficient clinical research, more effective healthcare delivery, and more accurate precision & predictive medicine. The company specializes in virtual trials, telemedicine, clinical trials, connected devices, machine learning, AI, Health Tech platform, and mHealth. The Medable platform is HIPAA compliant and is licensed by over 15 top U.S. medical research centers & Fortune 100 biotechnology companies that collectively serve more than 15 million patients & conduct over 6,000 clinical trials.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Virtual Clinical Trials Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Virtual Clinical Trials Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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