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The Virtual Clinical Trials Market was valued at USD 8.78 billion in 2023 and is expected to reach USD 14.89 billion by 2032, growing at a CAGR of 6.07% over the forecast period 2024-2032.
The increasing deployment of digital health technologies, rising R&D activities, and integration of telehealth into healthcare services are fueling the rapid expansion of the virtual clinical trials market. The evolution of mobile and wearables, AI, cloud computing, and data platforms is changing clinical trials by making data collection more accurate, frequent, and multi-dimensional. This change has been ensuring the development of new, innovative trial designs. Patient recruitment and retention along with experience are made better through virtual trials. Virtual clinical studies also ensure the establishment of novel endpoints in clinical studies. Virtual trials allow the participant to participate remotely because they allow greater inclusivity. They reduce site visits hence improving patients' recruitment and retention rates. The use of wearables directly connected to the smartphone of the patient enhances the real-time collection of data and makes direct communication possible, thereby enhancing the engagement of patients and reducing the burdens on the participants and CRCs.
The COVID-19 pandemic expedited the shift toward virtual clinical trials because of the constraints in the traditional system of conducting trials. Changes in the digital health world, which are constantly going on not only improve the delivery model but also connect virtual connectivity, remote monitoring, and management for both participants and investigators, which reduces the time commitment and is expected to move the market forward. Further fueling the market is the new patient-centric approach of clinical trials where sponsors realign their strategies in consonance with the needs of patients. Another critical focus here is on patient safety, informed consent, and regulatory compliance, still a giant concern in these remote settings. In this case, the market is observed to remain in the mid-growth stage, with acceleration gradually increasing due to innovations in telemedicine, remote monitoring, and electronic data capture. Beyond that, key mergers and acquisitions among some major players are enabling companies to expand their portfolio of services and increasingly solidify their places in the developing virtual clinical trial environment.
The regulatory hurdles are still shaping the market, and it is clear that agencies pay more attention to participant safety and data integrity in virtual trials because they have to be stronger and hence, aligned more strictly with the strict guidelines. Even though the industry is growing at an average level for the expansion of services, it is diligently working toward the standardization of technologies and tools to ensure they are fully integrated, which will further strengthen the market growth trajectory.
Drivers
Growing Disease Burden and Technological Advancements Drive Surge in Virtual Clinical Trials Market
The virtual clinical trials market has significant growth prospects, driven by the growing global burden of diseases. Increases in chronic, infectious, and life-threatening disease incidences create a huge demand for the adoption of innovative treatment options. For instance, the CDC estimates that on average, 6 in 10 persons in the U.S. manage a chronic illness, and 4 in 10 manage two or more chronic conditions that make such diseases the leading cause of death in the country. This health burden fuels the need for easy, safe, and effective virtual solutions for clinical trials to enable rapid advancement in the development of treatments.
Additionally, the surge in virtual and decentralized clinical trials is further propelling market growth. In recent years, the number of these trials has more than doubled globally, as clinical research organizations (CROs) and eClinical software providers have expanded their virtual capabilities to meet escalating demand. Virtual trials enhance patient experiences by leveraging digital technologies and remote services, thereby attracting substantial industry interest.
Furthermore, the COVID-19 pandemic has highlighted the advantages of decentralized clinical trials, accelerating their adoption, and creating new opportunities for participants in the market. The pandemic accelerated numerous biotech and pharmaceutical companies to concentrate their efforts on the development of vaccines and treatments through decentralized trials as a model of interaction between patients and physicians saving time. Additional capabilities related to the adoption of wearable devices and mobile technologies will further boost the market's potential. Some of the examples include clinical trials or virtual studies like those performed by Johnson & Johnson and Apple, in which a study called the Heartline Study is being conducted on an Apple Watch. All of these technologies enhance patient monitoring and participation in clinical research.
Restraints
Stringent Regulatory Compliance that is strict regulations by the FDA and EMA challenge virtual clinical trial growth.
Complexity of Virtual Trials means data privacy, regulatory hurdles, and non-controlled environments complicate virtual trials.
The interventional design segment was a dominant revenue share in the virtual clinical trials market in 2023, and this is expected to continue through the forecast period. This has been due to the increasing number of experiments related to new drugs for various diseases alongside the trend for the digitalization of laboratories. With COVID-19, a surge was witnessed in the demand for testing drugs and vaccines since the methods of traditional clinical trials posed a greater risk of infection. Hence, requirements for interventional study designs have surged. Virtual trials are specifically well-suited for chronic diseases and less interventional observational studies, such as in cardiovascular diseases, immunology, gastrointestinal, dermatology, respiratory, and endocrinology. The company that invented this method performed the first fully virtual interventional Phase 2b "site-less" clinical study with 372 patients across 10 states, through their proprietary mobile telemedicine-based platform, "NORA."
The expanded access segment is anticipated to grow rapidly at a 5.9% compound annual growth rate during the forecast period. Expanded access provides a future route for patients wherein the potential benefits outweigh the risks, and the continued development of new COVID-19 strains is expected to drive up demand for accelerated access to new drugs in the short term.
In 2023, the oncology segment dominated the virtual clinical trials market and accounted for more than 25.0% of the revenue share in the market. The segment is expected to retain the highest market share over the forecast period. This growth can be attributed to the increasing cancer burden worldwide and also the oncology clinical trials that are on the rise. During the COVID-19 pandemic, cancer patients, being highly vulnerable, prompted investigators and sponsors to rapidly adopt virtual and remote trial methods to ensure patient safety and keep trials progressing.
The cardiovascular segment is anticipated to be the fastest growing over the forecast period because of the incidence of cardiovascular diseases in multiple parts of the world. According to the World Health Organization (WHO), cardiovascular diseases are responsible for approximately 17.9 million deaths annually, making them the leading cause of death globally. In the United States, the Centers for Disease Control and Prevention (CDC) reported that one person dies every 36 seconds due to cardiovascular diseases, further highlighting the need for increased focus on this segment.
In 2023, North America accounted for the highest market share of 48.73% for virtual clinical trials and is expected to continue throughout the forecast period. This is driven due to critical research and development investments, general acceptance of innovative technologies into clinical research, as well as robust government support. More and more market players in the region embrace digital technologies to meet client demands. Company Parexel, for instance, conducts over 100 decentralized trials through the hybrid and virtual models, while Covance uses 1,900 LabCorp Patient Service Centers spread across the U.S. to take trials straight to patients. The U.S. alone accounts for more than 90% of the North American market in virtual clinical trials and is further being driven by major players such as ICON plc, IQVIA, Covance, PAREXEL, PRA Health Sciences, and Medable, Inc. Furthermore, the COVID-19 pandemic is expected to drastically increase interest in virtual trials; the number of studies will be implemented rapidly and possibly change the future of clinical research.
In the Asia Pacific region, the market is poised to be accelerating at a rate of 6.8% during the forecast period. The growing incidence of cardiovascular diseases, rising geriatric population, and augmented clinical trials of managing these conditions are all expected to drive the demand for virtual clinical trials. India is set to be the fastest-growing market in the region, while it is followed by China. Japan is the largest market in Asia Pacific in 2023 and also is seen retaining its leadership with high healthcare and R&D expenditure, coupled with strong demand for cost-effective and innovative clinical trials. Such tremendous growth is mainly supported by strong technology infrastructure in the country, several number of contract research organizations, and CROs engaged in offering virtual trial solutions.
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ICON, plc – eClinical Solutions
Parexel International Corporation – Virtual Trial Solutions
IQVIA – Virtual Trial Solutions
Covance – Covance Decentralized Trial Solutions
PRA Health Sciences – PRA Virtual Trials
LEO Innovation Lab – Digital Trial Solutions
Medidata – Medidata Solutions for Decentralized Trials
Oracle – Oracle Clinical Trials
CRF Health – eSource Solutions
Clinical Ink – SureSource
Medable, Inc. – Medable Decentralized Clinical Trial Platform
Signant Health – Signant Health eClinical Solutions
Halo Health Systems – Halo Virtual Trial Solutions
Croprime – Virtual Trial Management Platform
Dassault Systèmes SE – BIOVIA Solutions for Virtual Trials
Medpace Holdings Inc. – Medpace Virtual Trial Services
Laboratory Corporation of America Holdings – LabCorp Virtual Trial Solutions
Wuxi AppTech – Wuxi Virtual Clinical Trial Solutions
In Oct 2024, Dassault Systèmes announced the release of the world’s first guide for the medical device industry, detailing how virtual twins can be utilized to accelerate clinical trials. This guide was published after the successful completion of a five-year collaboration with the U.S. Food and Drug Administration (FDA).
In Sept 2024, PicnicHealth, a health tech company, introduced its new Virtual Site program, enabling researchers to conduct clinical trials entirely online. Part of the company's Clinical Services offering, Virtual Site allows in-house medical providers to schedule virtual visits, perform health assessments, order diagnostic tests, and report adverse events without the need for a physical location.
In July 2023, Signant Health completed its acquisition of DSG, strategically enhancing its eClinical solution suite for both traditional and decentralized clinical trials. By incorporating DSG's integrated platform, the acquisition enabled the creation of a comprehensive trial ecosystem with advanced software, analytics, and logistics solutions. This integration ensures smooth study execution and data collection across all trial modalities, moving closer to the goal of fully digitalizing clinical trials.
In June 2023, Medable Inc. introduced a comprehensive toolkit specifically designed for Institutional Review Boards (IRBs) and Ethics Committees (ECs) to standardize ethics review procedures for decentralized clinical trials (DCTs). The successful deployment of this toolkit streamlined and accelerated the IRB/EC process, significantly improving efficiency and fostering a more patient-centered approach to DCT execution.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 8.78 billion |
| Market Size by 2032 | US$ 14.89 billion |
| CAGR | CAGR of 6.07% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Study Design (Interventional, Observational, Expanded Access) • By Indication (CNS, Autoimmune/Inflammation, Cardiovascular Disease, Metabolic/Endocrinology, Infectious Disease, Oncology, Genitourinary, Ophthalmology, Others) • By Phase (Phase I, Phase II, Phase III, Phase IV) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | 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, Dassault Systèmes SE, Medpace Holdings Inc., Laboratory Corporation of America Holdings, Wuxi AppTech |
| Key Drivers | • Growing Disease Burden and Technological Advancements Drive Surge in Virtual Clinical Trials Market |
| Restraints | • Stringent Regulatory Compliance that is strict regulations by the FDA and EMA challenge virtual clinical trial growth. • Complexity of Virtual Trials means data privacy, regulatory hurdles, and non-controlled environments complicate virtual trials. |
Ans: Virtual Clinical Trials Market size was USD 8.78 billion in 2023 and is expected to Reach USD 14.89 billion by 2032.
Ans. The biggest revenue share came from the oncology area, which led the market for virtual/decentralized clinical trials.
Ans. Key drivers of the Virtual Clinical Trials Market is the incorporation of a mobile health platform, and as a catalyst for virtual trials, COVID-19.
Ans. Clinical Ink, Inc., Dassault Systemes SE, Icon plc, Laboratory Corporation of America Holdings, IQVIA Holdings, Inc are the key plyer of Virtual Clinical Trials Market.
Ans: The Virtual Clinical Trials Market is expected to grow at a CAGR of 6.07%.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Trial Participation Rates and Demographics (2023)
5.2 Adoption of Decentralized Trial Platforms, by Region (2023)
5.3 Investment in Digital Health Solutions for Clinical Trials (2020-2032)
5.4 Digital Infrastructure and Technology Access, by Region (2023)
5.5 Regulatory Support and Compliance Trends, by Region (2023)
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and Supply Chain Strategies
6.4.3 Expansion plans and new Product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Virtual Clinical Trials Market Segmentation, by Study Design
7.1 Chapter Overview
7.2 Interventional
7.2.1 Interventional Market Trends Analysis (2020-2032)
7.2.2 Interventional Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3 Observational
7.3.1 Observational Market Trends Analysis (2020-2032)
7.3.2 Observational Market Size Estimates and Forecasts to 2032 (USD Billion)
7.4 Expanded Access
7.4.1 Expanded Access Market Trends Analysis (2020-2032)
7.4.2 Expanded Access Market Size Estimates and Forecasts to 2032 (USD Billion)
8. Virtual Clinical Trials Market Segmentation, by Indication
8.1 Chapter Overview
8.2 CNS
8.2.1 CNS Market Trends Analysis (2020-2032)
8.2.2 CNS Market Size Estimates and Forecasts to 2032 (USD Million)
8.3 Autoimmune/Inflammation
8.3.1 Autoimmune/Inflammation Market Trends Analysis (2020-2032)
8.3.2 Autoimmune/Inflammation Market Size Estimates and Forecasts to 2032 (USD Million)
8.4 Cardiovascular Disease
8.4.1 Cardiovascular Disease Market Trends Analysis (2020-2032)
8.4.2 Cardiovascular Disease Market Size Estimates and Forecasts to 2032 (USD Million)
8.5 Metabolic/Endocrinology
8.5.1 Metabolic/Endocrinology Market Trends Analysis (2020-2032)
8.5.2 Metabolic/Endocrinology Market Size Estimates and Forecasts to 2032 (USD Million)
8.6 Infectious Disease
8.6.1 Infectious Disease Market Trends Analysis (2020-2032)
8.6.2 Infectious Disease Market Size Estimates and Forecasts to 2032 (USD Million)
8.7 Oncology
8.7.1 Oncology Market Trends Analysis (2020-2032)
8.7.2 Oncology Market Size Estimates and Forecasts to 2032 (USD Million)
8.8 Genitourinary
8.8.1 Genitourinary Market Trends Analysis (2020-2032)
8.8.2 Genitourinary Market Size Estimates and Forecasts to 2032 (USD Million)
8.9 Ophthalmology
8.9.1 Ophthalmology Market Trends Analysis (2020-2032)
8.9.2 Ophthalmology Market Size Estimates and Forecasts to 2032 (USD Million)
8.10 Others
8.10.1 Others Market Trends Analysis (2020-2032)
8.10.2 Others Market Size Estimates and Forecasts to 2032 (USD Million)
9. Virtual Clinical Trials Market Segmentation, by Phase
9.1 Chapter Overview
9.2 Phase I
9.2.1 Phase I Market Trends Analysis (2020-2032)
9.2.2 Phase I Market Size Estimates and Forecasts to 2032 (USD Million)
9.3 Phase II
9.3.1 Phase II Market Trends Analysis (2020-2032)
9.3.2 Phase II Market Size Estimates and Forecasts to 2032 (USD Million)
9.4 Phase III
9.4.1 Phase III Market Trends Analysis (2020-2032)
9.4.2 Phase III Market Size Estimates and Forecasts to 2032 (USD Million)
9.5 Phase IV
9.5.1 Phase IV Market Trends Analysis (2020-2032)
9.5.2 Phase IV Market Size Estimates and Forecasts to 2032 (USD Million)
10. Regional Analysis
10.1 Chapter Overview
10.2 North America
10.2.1 Trends Analysis
10.2.2 North America Virtual Clinical Trials Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.2.3 North America Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.2.4 North America Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.2.5 North America Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.2.6 USA
10.2.6.1 USA Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.2.6.2 USA Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.2.6.3 USA Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.2.7 Canada
10.2.7.1 Canada Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.2.7.2 Canada Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.2.7.3 Canada Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.2.8 Mexico
10.2.8.1 Mexico Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.2.8.2 Mexico Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.2.8.3 Mexico Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Trends Analysis
10.3.1.2 Eastern Europe Virtual Clinical Trials Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.3.1.3 Eastern Europe Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.1.4 Eastern Europe Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.1.5 Eastern Europe Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3.1.6 Poland
10.3.1.6.1 Poland Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.1.6.2 Poland Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.1.6.3 Poland Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3.1.7 Romania
10.3.1.7.1 Romania Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.1.7.2 Romania Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.1.7.3 Romania Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3.1.8 Hungary
10.3.1.8.1 Hungary Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.1.8.2 Hungary Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.1.8.3 Hungary Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3.1.9 turkey
10.3.1.9.1 Turkey Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.1.9.2 Turkey Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.1.9.3 Turkey Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3.1.10 Rest of Eastern Europe
10.3.1.10.1 Rest of Eastern Europe Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.1.10.2 Rest of Eastern Europe Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.1.10.3 Rest of Eastern Europe Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3.2 Western Europe
10.3.2.1 Trends Analysis
10.3.2.2 Western Europe Virtual Clinical Trials Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.3.2.3 Western Europe Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.2.4 Western Europe Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.2.5 Western Europe Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3.2.6 Germany
10.3.2.6.1 Germany Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.2.6.2 Germany Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.2.6.3 Germany Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3.2.7 France
10.3.2.7.1 France Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.2.7.2 France Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.2.7.3 France Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3.2.8 UK
10.3.2.8.1 UK Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.2.8.2 UK Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.2.8.3 UK Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3.2.9 Italy
10.3.2.9.1 Italy Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.2.9.2 Italy Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.2.9.3 Italy Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3.2.10 Spain
10.3.2.10.1 Spain Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.2.10.2 Spain Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.2.10.3 Spain Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3.2.11 Netherlands
10.3.2.11.1 Netherlands Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.2.11.2 Netherlands Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.2.11.3 Netherlands Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3.2.12 Switzerland
10.3.2.12.1 Switzerland Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.2.12.2 Switzerland Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.2.12.3 Switzerland Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3.2.13 Austria
10.3.2.13.1 Austria Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.2.13.2 Austria Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.2.13.3 Austria Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.3.2.14 Rest of Western Europe
10.3.2.14.1 Rest of Western Europe Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.3.2.14.2 Rest of Western Europe Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.3.2.14.3 Rest of Western Europe Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.4 Asia Pacific
10.4.1 Trends Analysis
10.4.2 Asia Pacific Virtual Clinical Trials Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.4.3 Asia Pacific Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.4.4 Asia Pacific Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.4.5 Asia Pacific Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.4.6 China
10.4.6.1 China Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.4.6.2 China Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.4.6.3 China Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.4.7 India
10.4.7.1 India Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.4.7.2 India Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.4.7.3 India Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.4.8 Japan
10.4.8.1 Japan Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.4.8.2 Japan Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.4.8.3 Japan Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.4.9 South Korea
10.4.9.1 South Korea Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.4.9.2 South Korea Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.4.9.3 South Korea Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.4.10 Vietnam
10.4.10.1 Vietnam Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.4.10.2 Vietnam Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.4.10.3 Vietnam Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.4.11 Singapore
10.4.11.1 Singapore Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.4.11.2 Singapore Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.4.11.3 Singapore Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.4.12 Australia
10.4.12.1 Australia Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.4.12.2 Australia Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.4.12.3 Australia Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.4.13 Rest of Asia Pacific
10.4.13.1 Rest of Asia Pacific Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.4.13.2 Rest of Asia Pacific Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.4.13.3 Rest of Asia Pacific Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.5 Middle East and Africa
10.5.1 Middle East
10.5.1.1 Trends Analysis
10.5.1.2 Middle East Virtual Clinical Trials Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.5.1.3 Middle East Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.5.1.4 Middle East Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.5.1.5 Middle East Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.5.1.6 UAE
10.5.1.6.1 UAE Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.5.1.6.2 UAE Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.5.1.6.3 UAE Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.5.1.7 Egypt
10.5.1.7.1 Egypt Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.5.1.7.2 Egypt Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.5.1.7.3 Egypt Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.5.1.8 Saudi Arabia
10.5.1.8.1 Saudi Arabia Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.5.1.8.2 Saudi Arabia Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.5.1.8.3 Saudi Arabia Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.5.1.9 Qatar
10.5.1.9.1 Qatar Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.5.1.9.2 Qatar Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.5.1.9.3 Qatar Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.5.1.10 Rest of Middle East
10.5.1.10.1 Rest of Middle East Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.5.1.10.2 Rest of Middle East Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.5.1.10.3 Rest of Middle East Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.5.2 Africa
10.5.2.1 Trends Analysis
10.5.2.2 Africa Virtual Clinical Trials Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.5.2.3 Africa Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.5.2.4 Africa Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.5.2.5 Africa Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.5.2.6 South Africa
10.5.2.6.1 South Africa Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.5.2.6.2 South Africa Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.5.2.6.3 South Africa Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.5.2.7 Nigeria
10.5.2.7.1 Nigeria Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.5.2.7.2 Nigeria Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.5.2.7.3 Nigeria Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.5.2.8 Rest of Africa
10.5.2.8.1 Rest of Africa Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.5.2.8.2 Rest of Africa Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.5.2.8.3 Rest of Africa Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.6 Latin America
10.6.1 Trends Analysis
10.6.2 Latin America Virtual Clinical Trials Market Estimates and Forecasts, by Country (2020-2032) (USD Million)
10.6.3 Latin America Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.6.4 Latin America Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.6.5 Latin America Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.6.6 Brazil
10.6.6.1 Brazil Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.6.6.2 Brazil Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.6.6.3 Brazil Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.6.7 Argentina
10.6.7.1 Argentina Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.6.7.2 Argentina Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.6.7.3 Argentina Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
10.6.8 Colombia
10.6.8.1 Colombia Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.6.8.2 Colombia Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.6.8.3 Colombia Virtual Clinical Trials Market Estimates and Forecasts, by Phase(2020-2032) (USD Million)
10.6.9 Rest of Latin America
10.6.9.1 Rest of Latin America Virtual Clinical Trials Market Estimates and Forecasts, by Study Design (2020-2032) (USD Million)
10.6.9.2 Rest of Latin America Virtual Clinical Trials Market Estimates and Forecasts, by Indication (2020-2032) (USD Million)
10.6.9.3 Rest of Latin America Virtual Clinical Trials Market Estimates and Forecasts, by Phase (2020-2032) (USD Million)
11. Company Profiles
11.1 ICON, plc
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Products/ Services Offered
11.1.4 SWOT Analysis
11.2 Parexel International Corporation
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Products/ Services Offered
11.2.4 SWOT Analysis
11.3 IQVIA
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Products/ Services Offered
11.3.4 SWOT Analysis
11.4 Covance
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Products/ Services Offered
11.4.4 SWOT Analysis
11.5 PRA Health Sciences
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Products/ Services Offered
11.5.4 SWOT Analysis
11.6 LEO Innovation Lab
11.6.1 Company Overview
11.6.2 Financial
11.6.3 Products/ Services Offered
11.6.4 SWOT Analysis
11.7 Medidata
11.7.1 Company Overview
11.7.2 Financial
11.7.3 Products/ Services Offered
11.7.4 SWOT Analysis
11.8 CRF Health
11.8.1 Company Overview
11.8.2 Financial
11.8.3 Products/ Services Offered
11.8.4 SWOT Analysis
11.9 Oracle
11.9.1 Company Overview
11.9.2 Financial
11.9.3 Products/ Services Offered
11.9.4 SWOT Analysis
11.10 Dassault Systèmes SE
11.10.1 Company Overview
11.10.2 Financial
11.10.3 Products/ Services Offered
11.10.4 SWOT Analysis
12. Use Cases and Best Practices
13. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
By Study Design
Interventional
Observational
Expanded Access
By Indication
CNS
Autoimmune/Inflammation
Cardiovascular Disease
Metabolic/Endocrinology
Infectious Disease
Oncology
Genitourinary
Ophthalmology
Others
By Phase
Phase I
Phase II
Phase III
Phase IV
Request for Segment Customization as per your Business Requirement: Segment Customization Request
Regional Coverage:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Product Matrix which gives a detailed comparison of the product portfolio of each company
Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
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