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Virtual Clinical Trials Market Share, Size, Trends, Industry Analysis Report, By Design; By Indication; By Phases; By Regions; Segment Forecast, 2020-2027

  • ID: 5261872
  • Report
  • November 2020
  • Region: Global
  • 107 pages
  • Polaris Market Research

FEATURED COMPANIES

  • Clinical Ink Inc.
  • Covance Inc.
  • CRF Health
  • ICON plc
  • LEO Innovation Lab
  • Medable Inc.
The global virtual clinical trials market size is expected to reach USD 13.78 billion by 2027, according to the study.

The report “Virtual Clinical Trials Market Share, Size, Trends, Industry Analysis Report, By Design (Observational Trials, Interventional Trials, Expanded Access Trials), By Indication (CNS, Autoimmune/Inflammation, Cardiovascular Disease, Metabolic/Endocrinology, Infectious Disease, Oncology, Genitourinary, Ophthalmology), By Phases (Phase I, Phase II, Phase III, Phase IV), By Regions; Segment Forecast, 2020-2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Virtual Clinical Trials (VCT) are a new method of directing clinical trials which is inclusive of web platforms (informed consent, recruitment, adverse reactions, counseling and measurement of endpoints) and taking advantage of technology such as monitoring devices, apps and others. VCT also allows participant to be home-based at all clinical trial stage. VCT are operationally feasible and have lower drop-out rates, higher recruitment rates, better compliance and are faster than traditional method.

The growth of virtual clinical trials is mainly owing to the advantages offered by these trials in place of traditional clinical trials. The cost of development of a new drug estimates more than a 2 billion dollars and approximately two-third of the total cost is consumed in clinical testing phase. Moreover, delay in clinical trials is majorly caused by patient recruitment resulting in loss of revenue of millions of dollars per day for the pharmaceutical companies. Furthermore, participant drop out is another major challenges faced in the clinical testing. To overcome these challenges major healthcare and pharmaceutical companies and organizations are constantly aiming on adopting new technology by investing in virtual clinical trial solutions, which is expected to escalate the overall market on a global level.

The prominent factors favoring the global market growth include scarcity of time in traditional clinical trials, rising R&D for the development of new drugs and vaccines, adoption of telemedicine and increasing demand for patient diversity. Additionally, COVID-19 pandemic has led to upsurge virtual clinical trials given the trials need to be conducted digitally. Thereby, companies all around the globe are aiming on developing virtual trial technologies to meet the growing demand for solutions to fight Covid-19. For instance, in June 2020, TRHC (Tabula Rasa HealthCare), developer of healthcare software solutions, announced its partnership with Regence BlueShield, a health plan provider, for conducting virtual trials for different drug candidates, and to examine the ADEs (adverse drug events) in each.

Market participants such as LEO Innovation Lab, Covance Inc., CRF Health, Oracle Corporation, Oracle Corporation, Medable, Inc., Parexel International, Clinical Ink, Inc., PRA Health Sciences, Science 37 and ICON plc. are some of the key players operating in the global market.

Players in the market are strategizing on developing new virtual clinical trial technology to cope up with the augmenting healthcare industry and thereby, establish their market place. For instance, in May 2020, AiCure LLC, an advanced data analytics and artificial intelligence company, partnered with Science 37, a clinical research company, to leverage a decentralized research model for enabling home based clinical trial for assessing an experimental drug for major depression disorder (MDD).

The analyst has segmented the Virtual Clinical Trials Market report on the basis of design, by indication, by phase, and region.

Virtual Clinical Trials Design Outlook (Revenue-USD Million, 2016-2027)
  • Observational Trials
  • Interventional Trials
  • Expanded Access Trials
Virtual Clinical Trials Indication Outlook (Revenue-USD Million, 2016-2027)
  • CNS
  • Autoimmune/Inflammation
  • Cardiovascular Disease
  • Metabolic/Endocrinology
  • Infectious Disease
  • Oncology
  • Genitourinary
  • Ophthalmology
Virtual Clinical Trials Phases Outlook (Revenue-USD Million, 2016-2027)
  • Phase I
  • Phase II
  • Phase III
  • Phase IV
Virtual Clinical Trials Regional Outlook (Revenue-USD Million, 2016-2027)
  • North America
  • U.S.
  • Canada
  • Europe
  • France
  • Germany
  • UK
  • Italy
  • Spain
  • Netherlands
  • Austria
  • Asia Pacific
  • China
  • India
  • Japan
  • Malaysia
  • South Korea
  • Indonesia
  • Central & South America
  • Mexico
  • Brazil
  • Argentina
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Clinical Ink Inc.
  • Covance Inc.
  • CRF Health
  • ICON plc
  • LEO Innovation Lab
  • Medable Inc.
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
2.1. Market Highlights

3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources

4. Virtual Clinical Trials Market Insights
4.1. Virtual Clinical Trials - Industry snapshot
4.2. Virtual Clinical Trials Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Need for digitization in clinical trials
4.2.1.2. Fear among clinical investigators for COVID-19
4.2.2. Restraints and Challenges
4.2.2.1. High upfront costs
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. PESTLE Analysis
4.5. Virtual Clinical Trials Market Industry trends

5. Virtual Clinical Trials Market Assessment by Design
5.1. Key Findings
5.2. Introduction
5.2.1. Global Virtual Clinical Trials Market, By Design, 2016-2027 (USD Million)
5.3. Observational Trials
5.3.1. Global Virtual Clinical Trials Market, by Observational Trials, by Region, 2016- 2027 (USD Million)
5.4. Interventional Trials
5.4.1. Global Virtual Clinical Trials Market, by Interventional Trials, by Region, 2016- 2027 (USD Million)
5.5. Expanded Access Trials
5.5.1. Global Virtual Clinical Trials Market, by Expanded Access Trials, by Region, 2016- 2027 (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, 2016-2027 (USD Million)
6.3. CNS
6.3.1. Global Virtual Clinical Trials Market, by CNS, By Region, 2016- 2027 (USD Million)
6.4. Autoimmune/Inflammation
6.4.1. Global Virtual Clinical Trials Market, by Autoimmune/Inflammation, by Region, 2016- 2027 (USD Million)
6.5. Cardiovascular Disease
6.5.1. Global Virtual Clinical Trials Market, by Cardiovascular Disease, by Region, 2016- 2027 (USD Million)
6.6. Metabolic/Endocrinology
6.6.1. Global Virtual Clinical Trials Market, by Metabolic/Endocrinology, by Region, 2016- 2027 (USD Million)
6.7. Infectious Disease
6.7.1. Global Virtual Clinical Trials Market, by Infectious Disease, by Region, 2016- 2027 (USD Million)
6.8. Oncology
6.8.1. Global Virtual Clinical Trials Market, by Oncology, by Region, 2016- 2027 (USD Million)
6.9. Genitourinary
6.9.1. Global Virtual Clinical Trials Market, by Genitourinary, by Region, 2016- 2027 (USD Million)
6.10. Ophthalmology
6.10.1. Global Virtual Clinical Trials Market, by Ophthalmology, by Region, 2016- 2027 (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, 2016-2027 (USD Million)
7.3. Phase I
7.3.1. Global Virtual Clinical Trials Market, by Phase I, By Region, 2016- 2027 (USD Million)
7.4. Phase II
7.4.1. Global Virtual Clinical Trials Market, by Phase II, by Region, 2016- 2027 (USD Million)
7.5. Phase III
7.5.1. Global Virtual Clinical Trials Market, by Phase III, by Region, 2016- 2027 (USD Million)
7.6. Phase IV
7.6.1. Global Virtual Clinical Trials Market, by Phase IV, by Region, 2016- 2027 (USD Million)

8. Virtual Clinical Trials Market Assessment by Geography
8.1. Key findings
8.2. Introduction
8.2.1. Virtual Clinical Trials Market Assessment, By Geography, 2016- 2027 (USD Million)
8.3. Virtual Clinical Trials Market - North America
8.3.1. North America: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.3.2. North America: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.3.3. North America: Virtual Clinical Trials Market, By Phases, 2016-2027 (USD Million)
8.3.4. Virtual Clinical Trials Market - U.S.
8.3.4.1. U.S.: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.3.4.2. U.S.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.3.4.3. U.S.: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.3.5. Virtual Clinical Trials Market - Canada
8.3.5.1. Canada: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.3.5.2. Canada.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.3.5.3. Canada: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.4. Virtual Clinical Trials Market - Europe
8.4.1. Europe: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.4.2. Europe.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.4.3. Europe: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.4.4. Virtual Clinical Trials Market - UK
8.4.4.1. UK: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.4.4.2. UK.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.4.4.3. UK: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.4.5. Virtual Clinical Trials Market - France
8.4.5.1. France: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.4.5.2. France.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.4.5.3. France: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.4.6. Virtual Clinical Trials Market - Germany
8.4.6.1. Germany: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.4.6.2. Germany.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.4.6.3. Germany: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.4.7. Virtual Clinical Trials Market - Italy
8.4.7.1. Italy: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.4.7.2. Italy.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.4.7.3. Italy: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.4.8. Virtual Clinical Trials Market - Spain
8.4.8.1. Spain: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.4.8.2. Spain.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.4.8.3. Spain: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.4.9. Virtual Clinical Trials Market - Netherlands
8.4.9.1. Netherlands: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.4.9.2. Netherlands.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.4.9.3. Netherlands: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.4.10. Virtual Clinical Trials Market - Austria
8.4.10.1. Austria: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.4.10.2. Austria.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.4.10.3. Austria: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.5. Virtual Clinical Trials Market - Asia-Pacific
8.5.1. Asia Pacific: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.5.2. Asia Pacific.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.5.3. Asia-pacific: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.5.4. Virtual Clinical Trials Market - China
8.5.4.1. China: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.5.4.2. China.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.5.4.3. China: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.5.5. Virtual Clinical Trials Market - India
8.5.5.1. India: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.5.5.2. India.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.5.5.3. India: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.5.6. Virtual Clinical Trials Market - Malaysia
8.5.6.1. Malaysia: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.5.6.2. Malaysia.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.5.6.3. Malaysia: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.5.7. Virtual Clinical Trials Market - Japan
8.5.7.1. Japan: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.5.7.2. Japan.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.5.7.3. Japan: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.5.8. Virtual Clinical Trials Market - Indonesia
8.5.8.1. Indonesia: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.5.8.2. Indonesia.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.5.8.3. Indonesia: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.5.9. Virtual Clinical Trials Market - South Korea
8.5.9.1. South Korea: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.5.9.2. South Korea.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.5.9.3. South Korea: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.6. Virtual Clinical Trials Market - Middle East & Africa
8.6.1. Middle East & Africa: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.6.2. Middle East & Africa.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.6.3. Middle East & Africa: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.6.4. Virtual Clinical Trials Market - Saudi Arabia
8.6.4.1. Saudi Arabia: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.6.4.2. Saudi Arabia.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.6.4.3. Saudi Arabia: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.6.5. Virtual Clinical Trials Market - UAE
8.6.5.1. UAE: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.6.5.2. UAE.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.6.5.3. UAE: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.6.6. Virtual Clinical Trials Market - Israel
8.6.6.1. Israel: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.6.6.2. Israel.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.6.6.3. Israel: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.6.7. Virtual Clinical Trials Market - South Africa
8.6.7.1. South Africa: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.6.7.2. South Africa.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.6.7.3. South Africa: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.7. Virtual Clinical Trials Market - Latin America
8.7.1. Latin America: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.7.2. Latin America.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.7.3. Latin America: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.7.4. Virtual Clinical Trials Market - Mexico
8.7.4.1. Mexico: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.7.4.2. Mexico.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.7.4.3. Mexico: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.7.5. Virtual Clinical Trials Market - Brazil
8.7.5.1. Brazil: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.7.5.2. Brazil.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.7.5.3. Brazil: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)
8.7.6. Virtual Clinical Trials Market - Argentina
8.7.6.1. Argentina: Virtual Clinical Trials Market, By Design, 2016- 2027 (USD Million)
8.7.6.2. Argentina.: Virtual Clinical Trials Market, By Indication, 2016- 2027 (USD Million)
8.7.6.3. Argentina: Virtual Clinical Trials Market, By Phases, 2016- 2027 (USD Million)

9. Competitive Landscape
9.1. Expansion and Acquisition Analysis
9.1.1. Expansion Analysis
9.1.2. Acquisition Analysis
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 Developments
10.2. Covance Inc.
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Product Benchmarking
10.2.4. Recent Developments
10.3. CRF Health
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Product Benchmarking
10.3.4. Recent Developments
10.4. Oracle Corporation
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Product Benchmarking
10.4.4. Recent Developments
10.5. Medable, Inc.
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Product Benchmarking
10.5.4. Recent Developments
10.6. Paraxel International
10.6.1. Company Overview
10.6.2. Financial Performance
10.6.3. Product Benchmarking
10.6.4. Recent Developments
10.7. Clinical Ink, Inc.
10.7.1. Company Overview
10.7.2. Financial Performance
10.7.3. Product Benchmarking
10.7.4. Recent Developments
10.8. PRA Health Sciences
10.8.1. Company Overview
10.8.2. Financial Performance
10.8.3. Product Benchmarking
10.8.4. Recent Developments
10.9. Science 37, Inc.
10.9.1. Company Overview
10.9.2. Financial Performance
10.9.3. Product Benchmarking
10.9.4. Recent Developments
Note: Product cover images may vary from those shown
  • LEO Innovation Lab
  • Covance Inc.
  • CRF Health
  • Oracle Corporation
  • Medable Inc.
  • Paraxel International
  • Clinical Ink Inc.
  • PRA Health Sciences
  • Science 37
  • ICON plc
Note: Product cover images may vary from those shown
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