The North America Virtual Clinical Trials Market would witness market growth of 4.8% CAGR during the forecast period (2020-2026).
The market is significantly driven by growth in R&D activities, the growing digitization in healthcare, and the adoption of telehealth. Moreover, advances in technology, collaborations between clinical research companies, biotechnology companies, and pharmaceutical and support initiatives from governments are expected to boost the market.
The patient-centric approach is followed by a virtual trial, permitting for a better traditional trail experience for the participants together with improved data collection, expanded diversity of patients, and time savings from the view of the trial duration. The virtual trial takes full benefit of the majority of digital instruments available and is defined by no physical visits to a trail site. There is no dearth of terms of labels that are being used to explain the notion of virtual trails. From virtual to mobile-enabled, to remote, to advance, to modern era clinical trials, to adaptable, to digitally-enabled, to software-enabled, to site-less, to direct-to-patient, and the list goes on.
The outbreak of the Covid-19 pandemic is compelling the clinical trial industry to change the process of performing ongoing or upcoming trials. The year 2020 has changed the lives of people upside down. The lockdown guidelines are being observed across the world and the clinical trial industry is no exception to this.
Based on Study Type, the market is segmented into Interventional, Observational, and Expanded Access and Others. Based on Indication, the market is segmented into Oncology, Cardiovascular, Immunology, Gastrointestinal, Respiratory, Endocrinology, Ophthalmology and Other Indications. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IQVIA Holdings, Inc., ICON PLC, Laboratory Corporation of America Holdings (Covance, Inc.), Dassault Systemes SE (Medidata Solutions, Inc.), Oracle Corporation, Parexel International Corporation (Pamplona Capital Management), PRA Health Sciences, Inc. (KKR & Co., Inc.), Medpace Holdings, Inc., Medable, Inc. and Clinical Ink, Inc. (G.I. Partners)
Scope of the Study
Market Segments Covered in the Report:
By Study Type
• Expanded Access
• Other Indications
• Rest of North America
• IQVIA Holdings, Inc.
• ICON PLC
• Laboratory Corporation of America Holdings (Covance, Inc.)
• Dassault Systemes SE (Medidata Solutions, Inc.)
• Oracle Corporation
• Parexel International Corporation (Pamplona Capital Management)
• PRA Health Sciences, Inc. (KKR & Co., Inc.)
• Medpace Holdings, Inc.
• Medable, Inc.
• Clinical Ink, Inc. (G.I. Partners)
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