The Global Virtual Clinical Trials Market Growth Accelerated by Increased Adoption of Virtual Clinical Trials


https://www.coherentmarketinsights.com/market-insight/virtual-clinical-trials-market-5658
Virtual Clinical Trials Market 


Virtual Clinical Trials provide numerous advantages like reducing costs associated with traditional clinical trials, improving patient access and experience, and accelerating clinical research. Virtual trials leverage technology solutions like telehealth, remote patient monitoring, and mobile health to conduct clinical trials without in-person visits. This has substantially aided clinical trials during the pandemic by enabling continuity of trials.

The global Virtual Clinical Trials Market is estimated to be valued at US$ 2659.6 Mn in 2023 and is expected to exhibit a CAGR of 17.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increased adoption of virtual clinical trials has been a major market trend over the recent past owing to advantages like reducing costs and timelines of trials through improved patient recruitment and follow-up processes using digital technologies. This allows sponsors and CROs to design more decentralized and hybrid clinical trial models with options for remote/virtual visits. Transitioning from traditional on-site visits to virtual visits has supported continuation of trials amidst the pandemic, accelerating their completion. Key players are focusing on partnership & funding activities to advance virtual trial solutions globally.

Segment Analysis
The global Virtual Clinical Trials market is dominated by the interventional model sub segment. This is because interventional model studies involve direct interactions with participants and allow researchers to closely monitor the effects of an experimental therapy. Interventional model trials are crucial for evaluating new drugs, devices, diagnostics, and behavioral or surgical interventions.

Key Takeaways
The global Virtual Clinical Trials Market Size is expected to witness high growth over the forecast period of 2023 to 2030. Growth in the market will be driven by advantages of virtual trials such as lower costs and faster recruitment compared to traditional trials.

Regional analysis
North America is expected to dominate the global Virtual Clinical Trials market during the forecast period. This is due to presence of major pharmaceutical companies and CROs, high R&D expenditure on drug development, and availability of advanced technologies for virtual trials in the region. In addition, high adoption of digital health technologies also supports market growth in North America.

Key players
Key players operating in the Virtual Clinical Trials market are Delve Health, Clario, Clinical Ink, Castor, Accenture, Thread, Science 37, Medable, Dassault Systà ̈mes, and eElinicalHealth (CLINPAL). Delve Health offers an end-to-end virtual site solution that supports the recruitment and engagement of participants for clinical trials. Clario offers the CECity platform that enables decentralized and hybrid clinical trial designs.

Comments

Post a Comment

Popular posts from this blog

Agricultural Micronutrients Market Growth Accelerated By Increasing Need For Improved Soil Fertility

Image
Agricultural Micronutrients Market Agricultural micronutrients are essential plant nutrients required in small quantities for healthy plant growth and development. Micronutrients such as iron, zinc, manganese, molybdenum, and boron play vital roles in various metabolic functions of crops such as photosynthesis, nitrogen fixation, and enzyme activity. The increasing need to boost crop yields and improve soil fertility has raised the demand for micronutrient fertilizers globally. The growing population and reducing arable land have fueled the need for sustainable agricultural practices, propelling the micronutrients market. The global Agricultural Micronutrients Market is estimated to be valued at US$ 5.19 Bn in 2024 and is expected to exhibit a CAGR of 27.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increasing adoption of precision farming and digital technologies in the agriculture sector is...
Read more

Dairy Alternative Market Expected To Reach USD 26.01 Billion By 2023

Image
Dairy Alternative Market Market Overview: Dairy alternative products are gaining significant popularity due to their numerous advantages. These products are plant-based, making them suitable for individuals with lactose intolerance or those following a vegan diet. They offer similar nutritional benefits as traditional dairy products such as milk, cheese, and yogurt, while also addressing concerns related to animal welfare and environmental sustainability. The growing demand for dairy alternative products among health-conscious consumers is driving market growth. Market Key Trends: One key trend observed in the dairy alternative market is the increasing preference for plant-based milk substitutes. Plant-based milk alternatives such as almond milk, soy milk, and oat milk, among others, are gaining traction among consumers as a healthier and more sustainable option compared to traditional dairy milk. These plant-based milk alternatives offer various benefits such as being lactose-free, c...
Read more

Antimicrobial Additives Market Growth Accelerated By Rising Demand From End-Use Industries

Image
Antimicrobial Additives Market Antimicrobial additives are extensively used in a wide range of end-use industries such as healthcare, packaging, food and beverage, construction, and automotive. These additives help protect various materials from microorganisms such as bacteria, viruses, etc. Some key applications of antimicrobial additives include packaging of food, medical devices, fabrics, flooring, coatings, etc. The ongoing COVID-19 pandemic has further increased the importance of hygiene and sanitation, driving demand for antimicrobial materials from various sectors. The global Antimicrobial Additives Market is estimated to be valued at US$ 3.47 Bn in 2024 and is expected to exhibit a CAGR of 25.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key drivers of the market's growth is the rising demand for antimicrobial additives from the packaging industry. Packaging manufacturers ...
Read more