Product Code: PM1731
The global virtual clinical trials market size is expected to reach USD 28,544.08 million by 2032, according to a new study by Polaris Market Research. The report "Virtual Clinical Trials Market Share, Size, Trends, Industry Analysis Report, By Design (Observational Trials, Interventional Trials, and Expanded Access Trials); By Indication; By Phases; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increased research and development activities, healthcare digitization, and the adoption of telehealth drive the virtual clinical trials market. These factors enable seamless integration of virtual trials, remote participation, and monitoring in clinical studies. Collaborations between organizations and supportive government initiatives contribute to the market's growth. These trends emphasize the industry's focus on virtual methods, which offer flexibility, efficiency, and improved patient engagement in clinical trials.
The COVID-19 pandemic has profoundly impacted clinical trials, leading to increased adoption of virtual trials. Challenges in patient recruitment and retention have been observed, and disruptions to ongoing trials have occurred. Virtual trials emerged as a crucial solution during the pandemic, allowing participants to participate from home and ensuring research continuity when site visits were impossible.
Virtual trials offer numerous advantages, including remote data collection, increased participant engagement, and larger population inclusion. They minimize risks associated with in-person visits and reduce the burden on participants, coordinators, and investigators. By leveraging virtual methods, the clinical trials industry can overcome challenges, improve efficiency, and facilitate prompt and effective data collection.
Virtual Clinical Trials Market Report Highlights
The interventional design segment dominated the market in 2022, driven by the need for innovative medications and the increased demand for trials amidst the COVID-19 pandemic.
The oncology segment led the market in 2022 and is expected to maintain its dominance due to the rising incidence of cancer and the adoption of virtual trials for patient safety during the COVID-19 pandemic.
North America holds a significant revenue share in the global virtual clinical trials market, driven by major pharmaceutical companies, government investments, and collaborations like Janssen and PRA Health Sciences' decentralized Canagliflozin study for heart failure patients.
The global key market players include: LEO Innovation Lab, Covance Inc., CRF Health, Oracle Corporation, Medable, Inc., Paraxel International, Clinical Ink, Inc., PRA Health Sciences, Science 37, and ICON plc.
Polaris Market Research has segmented the Virtual Clinical Trials market report based on design, indication, phases, and region:
Virtual Clinical Trials, Design Outlook (Revenue - USD Million, 2019 - 2032)
- Observational Trials
- Interventional Trials
- Expanded Access Trials
Virtual Clinical Trials, Indication Outlook (Revenue - USD Million, 2019 - 2032)
- CNS
- Autoimmune/Inflammation
- Cardiovascular Disease
- Metabolic/Endocrinology
- Infectious Disease
- Oncology
- Genitourinary
- Ophthalmology
Virtual Clinical Trials, Phases Outlook (Revenue - USD Million, 2019 - 2032)
- Phase I
- Phase II
- Phase III
- Phase IV
Virtual Clinical Trials, Regional Outlook (Revenue - USD Million, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Virtual Clinical Trials Market Insights
- 4.1. Virtual Clinical Trials Market - Phases Snapshot
- 4.2. Virtual Clinical Trials Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Advancements in Technology
- 4.2.1.2. Researchers to access a more diverse and global patient population
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Data Security and Privacy Concerns
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Virtual Clinical Trials Market Phases Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Virtual Clinical Trials Market, by Design
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 5.3. Observational Trials
- 5.3.1. Global Virtual Clinical Trials Market, by Observational Trials, by Region, 2019-2032 (USD Million)
- 5.4. Interventional Trials
- 5.4.1. Global Virtual Clinical Trials Market, by Interventional Trials, by Region, 2019-2032 (USD Million)
- 5.5. Expanded Access Trials
- 5.5.1. Global Virtual Clinical Trials Market, by Expanded Access Trials, by Region, 2019-2032 (USD Million)
6. Global Virtual Clinical Trials Market, by Indication
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 6.3. CNS
- 6.3.1. Global Virtual Clinical Trials Market, by CNS, by Region, 2019-2032 (USD Million)
- 6.4. Autoimmune/Inflammation
- 6.4.1. Global Virtual Clinical Trials Market, by Autoimmune/Inflammation, by Region, 2019-2032 (USD Million)
- 6.5. Cardiovascular Disease
- 6.5.1. Global Virtual Clinical Trials Market, by Cardiovascular Disease, by Region, 2019-2032 (USD Million)
- 6.6. Metabolic/Endocrinology
- 6.6.1. Global Virtual Clinical Trials Market, by Metabolic/Endocrinology, by Region, 2019-2032 (USD Million)
- 6.7. Infectious Disease
- 6.7.1. Global Virtual Clinical Trials Market, by Infectious Disease, by Region, 2019-2032 (USD Million)
- 6.8. Oncology
- 6.8.1. Global Virtual Clinical Trials Market, by Oncology, by Region, 2019-2032 (USD Million)
- 6.9. Genitourinary
- 6.9.1. Global Virtual Clinical Trials Market, by Genitourinary, by Region, 2019-2032 (USD Million)
- 6.10. Ophthalmology
- 6.10.1. Global Virtual Clinical Trials Market, by Ophthalmology, by Region, 2019-2032 (USD Million)
7. Global Virtual Clinical Trials Market, by Phases
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 7.3. Phase I
- 7.3.1. Global Virtual Clinical Trials Market, by Phase I, By Region, 2019-2032 (USD Million)
- 7.4. Phase II
- 7.4.1. Global Virtual Clinical Trials Market, by Phase II, By Region, 2019-2032 (USD Million)
- 7.5. Phase III
- 7.5.1. Global Virtual Clinical Trials Market, by Phase III, By Region, 2019-2032 (USD Million)
- 7.6. Phase IV
- 7.6.1. Global Virtual Clinical Trials Market, by Phase IV, By Region, 2019-2032 (USD Million)
8. Global Virtual Clinical Trials Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Virtual Clinical Trials Market Assessment, By Geography, 2019-2032 (USD Million)
- 8.3. Virtual Clinical Trials Market - North America
- 8.3.1. North America: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.3.2. North America: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.3.3. North America: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.3.4. Virtual Clinical Trials Market - U.S.
- 8.3.4.1. U.S.: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.3.4.2. U.S.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.3.4.3. U.S.: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.3.5. Virtual Clinical Trials Market - Canada
- 8.3.5.1. Canada: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.3.5.2. Canada.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.3.5.3. Canada: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.4. Virtual Clinical Trials Market - Europe
- 8.4.1. Europe: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.4.2. Europe.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.4.3. Europe: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.4.4. Virtual Clinical Trials Market - UK
- 8.4.4.1. UK: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.4.4.2. UK.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.4.4.3. UK: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.4.5. Virtual Clinical Trials Market - France
- 8.4.5.1. France: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.4.5.2. France.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.4.5.3. France: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.4.6. Virtual Clinical Trials Market - Germany
- 8.4.6.1. Germany: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.4.6.2. Germany.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.4.6.3. Germany: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.4.7. Virtual Clinical Trials Market - Italy
- 8.4.7.1. Italy: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.4.7.2. Italy.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.4.7.3. Italy: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.4.8. Virtual Clinical Trials Market - Spain
- 8.4.8.1. Spain: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.4.8.2. Spain.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.4.8.3. Spain: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.4.9. Virtual Clinical Trials Market - Netherlands
- 8.4.9.1. Netherlands: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.4.9.2. Netherlands.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.4.9.3. Netherlands: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.4.10. Virtual Clinical Trials Market - Russia
- 8.4.10.1. Russia: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.4.10.2. Russia.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.4.10.3. Russia: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.5. Virtual Clinical Trials Market - Asia Pacific
- 8.5.1. Asia Pacific: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.5.2. Asia Pacific.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.5.3. Asia Pacific: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.5.4. Virtual Clinical Trials Market - China
- 8.5.4.1. China: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.5.4.2. China.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.5.4.3. China: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.5.5. Virtual Clinical Trials Market - India
- 8.5.5.1. India: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.5.5.2. India.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.5.5.3. India: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.5.6. Virtual Clinical Trials Market - Malaysia
- 8.5.6.1. Malaysia: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.5.6.2. Malaysia.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.5.6.3. Malaysia: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.5.7. Virtual Clinical Trials Market - Japan
- 8.5.7.1. Japan: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.5.7.2. Japan.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.5.7.3. Japan: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.5.8. Virtual Clinical Trials Market - Indonesia
- 8.5.8.1. Indonesia: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.5.8.2. Indonesia.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.5.8.3. Indonesia: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.5.9. Virtual Clinical Trials Market - South Korea
- 8.5.9.1. South Korea: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.5.9.2. South Korea.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.5.9.3. South Korea: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.6. Virtual Clinical Trials Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.6.2. Middle East & Africa.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.6.3. Middle East & Africa: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.6.4. Virtual Clinical Trials Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.6.4.2. Saudi Arabia.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.6.4.3. Saudi Arabia: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.6.5. Virtual Clinical Trials Market - UAE
- 8.6.5.1. UAE: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.6.5.2. UAE.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.6.5.3. UAE: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.6.6. Virtual Clinical Trials Market - Israel
- 8.6.6.1. Israel: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.6.6.2. Israel.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.6.6.3. Israel: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.6.7. Virtual Clinical Trials Market - South Africa
- 8.6.7.1. South Africa: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.6.7.2. South Africa.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.6.7.3. South Africa: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.7. Virtual Clinical Trials Market - Latin America
- 8.7.1. Latin America: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.7.2. Latin America.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.7.3. Latin America: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.7.4. Virtual Clinical Trials Market - Mexico
- 8.7.4.1. Mexico: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.7.4.2. Mexico.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.7.4.3. Mexico: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.7.5. Virtual Clinical Trials Market - Brazil
- 8.7.5.1. Brazil: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.7.5.2. Brazil.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.7.5.3. Brazil: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
- 8.7.6. Virtual Clinical Trials Market - Argentina
- 8.7.6.1. Argentina: Virtual Clinical Trials Market, by Design, 2019-2032 (USD Million)
- 8.7.6.2. Argentina.: Virtual Clinical Trials Market, by Phases, 2019-2032 (USD Million)
- 8.7.6.3. Argentina: Virtual Clinical Trials Market, by Indication, 2019-2032 (USD Million)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. LEO Innovation Lab
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Covance Inc
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. CRF Health
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Oracle Corporation
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Medable, Inc
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Paraxel International
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Clinical Ink, Inc
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. PRA Health Sciences
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Science 37
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. ICON plc
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development