Product Code: GVR-4-68039-239-7
Virtual Clinical Trials Market Growth & Trends:
The global virtual clinical trials market size is expected to reach USD 10.5 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.1% from 2020 to 2027. The need for patient diversity clubbed with enhanced data collection in clinical trials is boosting the market growth.
There has been a rise in the R&D of new drugs and vaccines that has increased the volume and complexity of clinical experiments. Virtual laboratory trials eliminate challenges posed by traditional laboratory experiments, for example, delays in patient recruitment and time-consuming procedures. Also, studies have revealed that around 75.0% of the people favored a mobile experiment over traditional methods, and 80.0% of patients are more likely to participate in an experiment that uses mobile technology.
The current pandemic of COVID-19 is making the clinical trial industry to change the way of conducting ongoing or upcoming lab experiments. The pandemic, for the first time in history, has resulted in the global disruption of traditional onsite lab experiments. Hence, the regulatory bodies such as the U.S. FDA, the European Medicines Agency (EMA), the National Institutes of Health (NIH), and China's National Medical Products Administration have issued guidelines related to the conduct of lab experiments during the outbreak of coronavirus, and are in complete support of incorporating virtual services.
Virtual clinical trials make use of monitoring devices, software apps, and online social engagement platforms to conduct every step of the research process including patient recruitment, counseling, measuring clinical endpoints, informed consent, and adverse reactions. Telehealth, home care, and remote patient monitoring have been gaining momentum as a healthcare offering, and the COVID-19 is adding more horsepower to this initiative.
Virtual Clinical Trials Market Report Highlights:
- The oncology segment alone held 25.0% of market share in 2019. The increasing adoption of virtual experiments especially in oncology laboratory research for diverse population is responsible for the growth.
- The interventional design segment accounted for the largest revenue share of 46.5% in 2019.
- North America held 49.7% of the market share in 2019. Favorable government initiatives and presence of large numbers of players in the U.S. offerings advanced services are responsible for market growth.
- In Asia Pacific, the market is expected to witness the fastest CAGR of 6.2% over the forecast period owing to the increasing patient pool and cost efficient services.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Study design
- 1.1.2. Indication
- 1.1.3. Regional scope
- 1.1.4. Estimates and forecast timeline
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR's internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.4. Information or Data Analysis
- 1.4.1. Data analysis models
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.6.1. Commodity flow analysis (Model 1)
- 1.6.1.1. Approach 1: Commodity flow approach
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
- 1.9.1. Objective 1: Understanding the market dynamics
- 1.9.2. Objective 2: Understanding the market estimates and forecasts
- 1.9.3. Objective 3: Understanding the attributes such as strategy framework, competitor categorization
- 1.9.4. Objective 4: Understanding the key product and application scopes to conclude on the market size
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Virtual Clinical Trials Market Variables, Trends & Scope
- 3.1. Market Lineage outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. COVID-19 pandemic impact on clinical trial activity
- 3.4. Market Dynamics
- 3.4.1. Market Driver Analysis
- 3.4.1.1. The growing role of technology in healthcare
- 3.4.1.2. Benefits of virtual trials
- 3.4.1.3. Government support
- 3.4.2. Market Restraint Analysis
- 3.4.3. Industry Challenge
- 3.5. Virtual Clinical Trials: Market Analysis Tools
- 3.5.1. Industry Analysis - Porter's
- 3.5.1.1. Supplier Power
- 3.5.1.2. Buyer Power
- 3.5.1.3. Substitution Threat
- 3.5.1.4. Threat from new entrant
- 3.5.1.5. Competitive rivalry
- 3.5.2. PESTEL Analysis
- 3.5.2.1. Political Landscape
- 3.5.2.2. Environmental Landscape
- 3.5.2.3. Social Landscape
- 3.5.2.4. Technology Landscape
- 3.5.2.5. Legal Landscape
Chapter 4. Virtual Clinical Trials Market: Segment Analysis, By Study Design, 2016 - 2027 (USD Million)
- 4.1. Segment Dashboard
- 4.2. Study Design Market Share Analysis, 2019 & 2027
- 4.3. Global Virtual Clinical Trials Market, By Study Design, 2016 to 2027
- 4.4. Market Size & Forecasts and Trend Analyses, 2016 to 2027 for the following:
- 4.4.1. Interventional
- 4.4.2. Observational
- 4.4.3. Expanded Access
Chapter 5. Virtual Clinical Trials Market: Segment Analysis, By Indication, 2016 - 2027 (USD Million)
- 5.1. Segment Dashboard
- 5.2. Indication Market Share Analysis, 2019 & 2027
- 5.3. Global Virtual Clinical Trials Market, By Indication, 2016 to 2027
- 5.4. Market Size & Forecasts and Trend Analyses, 2016 to 2027 for the following:
- 5.4.1. Oncology
- 5.4.2. Cardiovascular
- 5.4.3. Others
Chapter 6. Virtual Clinical Trials Market: Regional Market Analysis, 2016 - 2027 (USD Million)
- 6.1. Regional Market Dashboard
- 6.2. Regional Market Share Analysis, 2019 & 2027
- 6.3. Market Size, & Forecasts, and Trend Analysis, 2016 to 2027:
- 6.4. North America
- 6.4.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
- 6.4.2. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.4.3. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.4.4. U.S.
- 6.4.4.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.4.4.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.4.5. Canada
- 6.4.5.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.4.5.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.5. Europe
- 6.5.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
- 6.5.2. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.5.3. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.5.4. Germany
- 6.5.4.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.5.4.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.5.5. U.K.
- 6.5.5.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.5.5.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.5.6. France
- 6.5.6.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.5.6.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.5.7. Italy
- 6.5.7.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.5.7.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.5.8. Spain
- 6.5.8.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.5.8.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.6. Asia Pacific
- 6.6.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
- 6.6.2. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.6.3. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.6.4. India
- 6.6.4.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.6.4.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.6.5. Japan
- 6.6.5.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.6.5.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.6.6. China
- 6.6.6.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.6.6.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.6.7. Australia
- 6.6.7.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.6.7.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.6.8. South Korea
- 6.6.8.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.6.8.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.7. Latin America
- 6.7.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
- 6.7.2. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.7.3. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.7.4. Brazil
- 6.7.4.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.7.4.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.7.5. Mexico
- 6.7.5.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.7.5.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.7.6. Argentina
- 6.7.6.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.7.6.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.7.7. Colombia
- 6.7.7.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.7.7.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.8. Middle East and Africa
- 6.8.1. Market estimates and forecast, by country, 2016 - 2027 (USD Million)
- 6.8.2. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.8.3. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.8.4. South Africa
- 6.8.4.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.8.4.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.8.5. Saudi Arabia
- 6.8.5.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.8.5.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
- 6.8.6. UAE
- 6.8.6.1. Market estimates and forecast, by study design, 2016 - 2027 (USD Million)
- 6.8.6.2. Market estimates and forecast, by indication, 2016 - 2027 (USD Million)
Chapter 7. Virtual Clinical Trials Market: Competitive Analysis
- 7.1. Key companies profiled
- 7.1.1. ICON, plc
- 7.1.1.1. Company Overview
- 7.1.1.2. Financial Performance
- 7.1.1.3. Product Benchmarking
- 7.1.1.4. Strategic Initiatives
- 7.1.2. PAREXEL International Corporation
- 7.1.2.1. Company Overview
- 7.1.2.2. Financial Performance
- 7.1.2.3. Product Benchmarking
- 7.1.2.4. Strategic Initiatives
- 7.1.3. IQVIA
- 7.1.3.1. Company Overview
- 7.1.3.2. Financial Performance
- 7.1.3.3. Product Benchmarking
- 7.1.3.4. Strategic Initiatives
- 7.1.4. Covance
- 7.1.4.1. Company Overview
- 7.1.4.2. Financial Performance
- 7.1.4.3. Product Benchmarking
- 7.1.4.4. Strategic Initiatives
- 7.1.5. PRA Health Sciences
- 7.1.5.1. Company Overview
- 7.1.5.2. Financial Performance
- 7.1.5.3. Product Benchmarking
- 7.1.5.4. Strategic Initiatives
- 7.1.6. LEO Innovation Lab
- 7.1.6.1. Company Overview
- 7.1.6.2. Financial Performance
- 7.1.6.3. Product Benchmarking
- 7.1.6.4. Strategic Initiatives
- 7.1.7. Medidata
- 7.1.7.1. Company Overview
- 7.1.7.2. Financial Performance
- 7.1.7.3. Product Benchmarking
- 7.1.7.4. Strategic Initiatives
- 7.1.8. Oracle
- 7.1.8.1. Company Overview
- 7.1.8.2. Financial Performance
- 7.1.8.3. Product Benchmarking
- 7.1.8.4. Strategic Initiatives
- 7.1.9. CRF Health
- 7.1.9.1. Company Overview
- 7.1.9.2. Financial Performance
- 7.1.9.3. Product Benchmarking
- 7.1.9.4. Strategic Initiatives
- 7.1.10. Clinical Ink
- 7.1.10.1. Company Overview
- 7.1.10.2. Financial Performance
- 7.1.10.3. Product Benchmarking
- 7.1.10.4. Strategic Initiatives
- 7.1.11. Medable
- 7.1.11.1. Company Overview
- 7.1.11.2. Financial Performance
- 7.1.11.3. Product Benchmarking
- 7.1.11.4. 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, 2016 - 2027 (USD Million)
- Table 4 Global Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 5 Global Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 6 North America Virtual Clinical Trials Market, By Country, 2016 - 2027 (USD Million)
- Table 7 North America Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 8 North America Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 9 U.S. Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 10 U.S. Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 11 Canada Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 12 Canada Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 13 Europe Virtual Clinical Trials Market, By Country, 2016 - 2027 (USD Million)
- Table 14 Europe Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 15 Europe Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 16 U.K. Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 17 U.K. Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 18 Germany Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 19 Germany Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 20 France Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 21 France Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 22 Italy Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 23 Italy Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 24 Spain Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 25 Spain Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 26 Asia Pacific Virtual Clinical Trials Market, By Country, 2016 - 2027 (USD Million)
- Table 27 Asia Pacific Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 28 Asia Pacific Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 29 India Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 30 India Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 31 Japan Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 32 Japan Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 33 China Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 34 China Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 35 Australia Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 36 Australia Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 37 South Korea Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 38 South Korea Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 39 Latin America Virtual Clinical Trials Market, By Country, 2016 - 2027 (USD Million)
- Table 40 Latin America Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 41 Latin America Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 42 Brazil Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 43 Brazil Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 44 Mexico Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 45 Mexico Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 46 Argentina Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 47 Argentina Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 48 Colombia Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 49 Colombia Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 50 MEA Virtual Clinical Trials Market, By Country, 2016 - 2027 (USD Million)
- Table 51 MEA Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 52 MEA Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 53 South Africa Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 54 South Africa Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 55 Saudi Arabia Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 56 Saudi Arabia Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
- Table 57 UAE Virtual Clinical Trials Market, By Study Design, 2016 - 2027 (USD Million)
- Table 58 UAE Virtual Clinical Trials Market, By Indication, 2016 - 2027 (USD Million)
List of Figures
- Fig. 1 Market research process
- Fig. 2 Data triangulation techniques
- Fig. 3 Primary research pattern
- Fig. 4 Market research approaches
- Fig. 5 Value-chain-based sizing & forecasting
- Fig. 6 QFD modeling for market share assessment
- Fig. 7 Market formulation & validation
- Fig. 8 Virtual clinical trials market: Market snapshot
- Fig. 9 Virtual clinical trials market: Market segmentation
- Fig. 10 Virtual clinical trials market: Strategy framework
- Fig. 11 Parent market outlook
- Fig. 12 Related/ancillary market outlook
- Fig. 13 Virtual clinical trials market: Driver impact
- Fig. 14 Virtual clinical trials market: Restraint impact
- Fig. 15 Virtual clinical trials market: Porter's five forces analysis
- Fig. 16 Virtual clinical trials market: PESTEL analysis
- Fig. 17 Virtual clinical trials market: Study design segment dashboard
- Fig. 18 Virtual clinical trials market: Study design movement analysis
- Fig. 19 Interventional market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 20 Observational market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 21 Expanded Access market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 22 Virtual clinical trials market: Indication segment dashboard
- Fig. 23 Virtual clinical trials market: Indication movement analysis
- Fig. 24 Oncology market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 25 Cardiovascular market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 26 Others market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 27 Global virtual clinical trials market: Regional movement analysis
- Fig. 28 Global virtual clinical trials market: Regional outlook and key takeaways
- Fig. 29 North America market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 30 U.S. market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 31 Canada market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 32 Europe market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 33 U.K. market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 34 Germany market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 35 France market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 36 Italy market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 37 Spain market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 38 Asia Pacific market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 39 India market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 40 Japan market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 41 China market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 42 Australia market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 43 South Korea market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 44 Latin America market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 45 Brazil market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 46 Mexico market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 47 Argentina market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 48 Colombia market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 49 Middle East and Africa market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 50 South Africa market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 51 Saudi Arabia market estimates and forecast, 2016 - 2027 (USD Million)
- Fig. 52 UAE market estimates and forecast, 2016 - 2027 (USD Million)