Learn about the global virtual clinical trials market through The Business Research Company, which provides information on virtual clinical trials market size, virtual clinical trials market drivers and restraints, virtual clinical trials market players, the COVID-19 impact on the virtual clinical trials market, and more.

The global virtual clinical trials market size is expected to grow from $8.85 billion in 2021 to $9.61 billion in 2022 at a compound annual growth rate (CAGR) of 8.68%. The global virtual clinical trial market size is expected to grow to $12.96 billion in 2026 at a CAGR of 7.75%.

The increasing investments by the government and pharmaceutical companies in the R&D for the development of new vaccines and drugs are driving the growth of the virtual clinical trials market.

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The virtual clinical trials market consists of sales of virtual clinical trials solutions and related services by entities (organizations, sole traders, and partnerships) that refers to remote or decentralized clinical trials or studies that incorporate digital health technologies and enable remote participation outside the traditional brick-and-mortar clinical trial site using tablets, smartphone apps, or wearable sensors. Virtual clinical trials allow significant digital changes in clinical research methodology, resulting in a more patient-centric ecosystem. These solutions consider many technological advantages, including innovative applications, electronic devices, online social engagement platforms, artificial intelligence, robotic process automation, machine learning, and others.

Global Virtual Clinical Trials Market Segments Include:

By Design: Observational Trials, Interventional Trials, Expanded Access Trials

By Phase: Phase I, Phase II, Phase III, Phase IV

By Indication: CNS, Autoimmune/Inflammation, Cardiovascular Disease, Metabolic/Endocrinology, Infectious Disease, Oncology, Genitourinary, Ophthalmology, Others

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the virtual clinical trials market in 2021.

Technology advancement is a key trend gaining popularity in the virtual clinical trials market. Major companies operating in the virtual clinical trials market are focused on providing technologically-advanced solutions to meet fast-growing industry demands and strengthen their market position. These companies are implementing new generation virtual clinical technologies into their services, such as wearable technologies, mHealth, blockchain, cloud computing, EMR integration, actionable data, threshold monitoring, AI, SFTP, ETL services, and others.

TBRC’s virtual clinical trials market report covers:

Major Market Players: ICON, plc, Parexel International, IQVIA, Covance, PRA Health Sciences, LEO Innovation Lab, Medidata, Oracle Inc., CRF Health, Clinical Ink, Inc., Medable, Inc., Signant Health, Thread Research, Halo Health Systems, and Croprime.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Virtual Clinical Trials Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides virtual clinical trials market overviews, analyzes and forecasts market size, share, virtual clinical trials market players, virtual clinical trials market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s virtual clinical trials market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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