Market Forecast by Countries (United States, Canada), By Study Design (Interventional, Expanded Access, Observational), By Indication (Cardiovascular, Oncology, Others) And Competitive Landscape
Product Code: ETC075088 | Publication Date: Aug 2021 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
North America Virtual Clinical Trials Market dominated the global virtual clinical trials market. The dominance is attributed to an increase in investments from the general public as well as the private sector and the contribution of leading players for enhanced virtual trial solutions. 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. In terms of implication, the oncology segment is projected to achieve tremendous popularity due to a rise in the number of cases of cancer globally. VCT reduces the cancer patient’s risk of exposure to COVID-19 by eliminating the requirement for in-person trial visits. Biopharma companies and regulatory agencies are aiming for creating digital technologies, virtual trials and telemedicine as they are the potential solutions for limiting trial disruptions. The outbreak of the Covid-19 pandemic is compelling the clinical trial industry to change the process of performing ongoing or upcoming trials. Moreover, the COVID-19 pandemic has had an optimistic impact on the growth of the virtual clinical trial market due to the rise in the adoption of VCTs on account of extensive demand for vaccines and also due to lockdown restriction which has surged the rate of patient’s inclination toward video conference calls, online chat, and apps for communicating with healthcare providers.
According the 6Wresearch, the North America Virtual Clinical Trials Market is likely to witness significant growth during 2021-2027. North America accounts for one of the largest revenue holders in global virtual clinical trials market due to presence of major companies that manufacture pharmaceuticals coupled with rising government and companies focus on investment in development of new medicines. Based on the Application, the Oncology segment acquired the largest market share in the North America virtual clinical trial market in 2019. The growth of the segment is attributed to the burgeoning number of cancer cases, increasing the geriatric population, and surging investment in the R&D activities of oncology drugs.
The North America Virtual Clinical trial market is segmented on the basis of Study type, By indication, and by Regions. Based on study type the market is bifurcated into Interventional, observational and expanded access and others. Based on Indication the market bifurcated into Oncology, cardiovascular, Immunology, Gastrointestinal, Respiratory, Endocrinology, Ophthalmology and other indications. Based on region the market is divided into North America, Latin America, Middle east, Africa, Europe and Asia Pacific. The existence of the leading players and benefits environment for carrying out clinical trials is another element anticipated to push the growth of the clinical trial in the regions. The Key players in this region are: ICON Plc, Clinical Ink, Inc., Science 37, Inc., Medable, Inc., Medidata Solutions, Signant Health (CRF Health), PRA Health Sciences, Oracle Corporation, Covance, Inc., Parexel International, etc. An increasing number of biotechnology firms are looking at the Latin America region for the Covid19 trials to take advantage of the large patient pool and fast track procedures. An increasing number of biotechnology firms are looking at the North America region for the Covid19 trials to take advantage of the large patient pool and fast track procedures.
The North America Virtual Clinical trial market report thoroughly covers the market by study, indications and key countries including United States and Canada. The North America Virtual Clinical Trial market outlook report provides an unbiased and detailed analysis of the on-going North America market trends, high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
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1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 North America Virtual Clinical Trials Market Overview |
3.1 North America Regional Macro Economic Indicators |
3.2 North America Virtual Clinical Trials Market Revenues & Volume, 2020 & 2027F |
3.3 North America Virtual Clinical Trials Market - Industry Life Cycle |
3.4 North America Virtual Clinical Trials Market - Porter's Five Forces |
3.5 North America Virtual Clinical Trials Market Revenues & Volume Share, By Countries, 2020 & 2027F |
3.6 North America Virtual Clinical Trials Market Revenues & Volume Share, By Study Design, 2020 & 2027F |
3.7 North America Virtual Clinical Trials Market Revenues & Volume Share, By Indication, 2020 & 2027F |
4 North America Virtual Clinical Trials Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 North America Virtual Clinical Trials Market Trends |
6 North America Virtual Clinical Trials Market, 2017 - 2027 |
6.1 North America Virtual Clinical Trials Market, Revenues & Volume, By Study Design, 2017 - 2027 |
6.2 North America Virtual Clinical Trials Market, Revenues & Volume, By Indication, 2017 - 2027 |
7 United States Virtual Clinical Trials Market, 2017 - 2027 |
7.1 United States Virtual Clinical Trials Market, Revenues & Volume, By Study Design, 2017 - 2027 |
7.2 United States Virtual Clinical Trials Market, Revenues & Volume, By Indication, 2017 - 2027 |
8 Canada Virtual Clinical Trials Market, 2017 - 2027 |
8.1 Canada Virtual Clinical Trials Market, Revenues & Volume, By Study Design, 2017 - 2027 |
8.2 Canada Virtual Clinical Trials Market, Revenues & Volume, By Indication, 2017 - 2027 |
9 North America Virtual Clinical Trials Market Key Performance Indicators |
10 North America Virtual Clinical Trials Market - Opportunity Assessment |
10.1 North America Virtual Clinical Trials Market Opportunity Assessment, By Countries, 2020 & 2027F |
10.2 North America Virtual Clinical Trials Market Opportunity Assessment, By Study Design, 2020 & 2027F |
10.3 North America Virtual Clinical Trials Market Opportunity Assessment, By Indication, 2020 & 2027F |
11 North America Virtual Clinical Trials Market - Competitive Landscape |
11.1 North America Virtual Clinical Trials Market Revenue Share, By Companies, 2020 |
11.2 North America Virtual Clinical Trials Market Competitive Benchmarking, By Operating and Technical Parameters |
12 Company Profiles |
13 Recommendations |
14 Disclaimer |