Insights on the Virtual Clinical Trials Global Market to 2026 - Featuring IQVIA Holdings, ICON PLC and Dassault Systemes Among Others

Dublin, April 20, 2021 (GLOBE NEWSWIRE) -- The "Global Virtual Clinical Trials Market By Study Type, By Indication, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.

The Global Virtual Clinical Trials Market size is expected to reach $10 billion by 2026, rising at a market growth of 6.5% CAGR during the forecast period. Virtual Clinical Trials (VCTs) are also known as remote or decentralized trails, are a comparatively new but still underused technique of carrying out clinical research taking complete benefit of technologies like apps, online social interaction platforms, and electronic monitoring tools. 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.

Virtual clinical trials (VCT) abolish limitations presented by conventional clinical trials such as time-taking procedures and delay in recruitment of patients that has pushed the demand for the virtual clinical trial market. Additionally, advances in technology in healthcare infrastructure and partnerships between pharmaceutical, biotechnology, and clinical research companies are expected to propel the virtual clinical trials market development in the coming years.

The rise in costs, combined with a higher rate of trail failures and an expansion in patient-centric trials, has resulted in a rise in demand to adopt technology in clinical trials. In fact, virtual clinical trials are expected to rise from high revenue to the highest revenue in the upcoming years. Still despite this development, for the majority of patients, getting clinical trials is still a difficult process, with enrollment and engagement presenting new challenges.

By Study Type

Based on Study Type, the market is segmented into Interventional, Observational, and Expanded Access and Others. The market was dominated by the interventional segment and represented the highest share of revenue in 2019. The fast growth in the number of experiments to create unique medications for different diseases and the modernization of labs are boosting the growth of this segment. The COVID-19 pandemic has fueled the demand for trials and testing of different new vaccines and drugs to fight situations all around the world, as conventional techniques of clinical trials accompany the massive danger of infection in individuals.

By Indication

Based on Indication, the market is segmented into Oncology, Cardiovascular, Immunology, Gastrointestinal, Respiratory, Endocrinology, Ophthalmology and Other Indications. The market was dominated by the oncology segment and represented the highest share of revenue in 2019. The segment is also expected to add to the highest share of the revenue of the market during the forecast period. This is credited to the growing instances of cancer on a worldwide scale and the growing number of oncology clinical trials. Patients of cancer are the most unprotected during the outbreak of COVID-19.

By Region

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Europe represents the second-largest market share and is anticipated to observe promising growth opportunities in the next few years. Support from the government for R&D for the medicines and treatment for coming infectious diseases and chronic diseases, particularly in nations like Germany and U.K is a significant component boosting the growth of the regional market. Furthermore, the existence of leading players and benefits environment for carrying out clinical trials is another element anticipated to push the growth of the clinical trial market in Europe during the forecast period.

The major strategies followed by the market participants are Product Launches and Partnerships. Based on the Analysis presented in the Cardinal matrix; Oracle Corporation is the major forerunner in the Virtual Clinical Trials Market. Companies such as IQVIA Holdings, Inc., Dassault Systemes SE, and Medpace Holdings, Inc., are some of the key innovators in the market.

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).

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Key Topics Covered:

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Virtual Clinical Trials Market, by Study Type
1.4.2 Global Virtual Clinical Trials Market, by Indication
1.4.3 Global Virtual Clinical Trials Market, by Geography
1.5 Methodology for the research

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market Composition
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Geographical Expansions
3.2.4 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2017, Oct - 2020, Nov) Leading Players
3.3.3 Key Strategic Move: (Product Launches and Product Expansions : 2018, Jun - 2020, Oct) Leading Players

Chapter 4. Global Virtual Clinical Trials Market by Study Type
4.1 Global Interventional Market by Region
4.2 Global Observational Market by Region
4.3 Global Expanded Access Market by Region

Chapter 5. Global Virtual Clinical Trials Market by Indication
5.1 Global Oncology Market by Region
5.2 Global Cardiovascular Market by Region
5.3 Global Immunology Market by Region
5.4 Global Gastrointestinal Market by Region
5.5 Global Respiratory Market by Region
5.6 Global Endocrinology Market by Region
5.7 Global Ophthalmology Market by Region
5.8 Global Other Indications Market by Region

Chapter 6. Global Virtual Clinical Trials Market by Region
6.1 North America Virtual Clinical Trials Market
6.2 Europe Virtual Clinical Trials Market
6.3 Asia Pacific Virtual Clinical Trials Market
6.4 LAMEA Virtual Clinical Trials Market

Chapter 7. Company Profiles
7.1 IQVIA Holdings, Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Recent strategies and developments
7.1.4.1 Partnerships, Collaborations, and Agreements
7.1.4.2 Product Launches and Product Expansions
7.2 ICON PLC
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Regional Analysis
7.2.1 Recent strategies and developments
7.2.1.1 Partnerships, Collaborations, and Agreements
7.2.1.2 Product Launches and Product Expansions
7.2.1.3 Acquisition and Mergers
7.3 Laboratory Corporation of America Holdings (Covance, Inc.)
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Recent strategies and developments
7.3.4.1 Product Launches and Product Expansions
7.3.4.2 Acquisition and Mergers
7.4 Dassault Systemes SE (Medidata Solutions, Inc.)
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Regional Analysis
7.4.4 Research & Development Expense
7.4.5 Recent strategies and developments
7.4.5.1 Partnerships, Collaborations, and Agreements
7.4.5.2 Product Launches and Product Expansions
7.4.5.3 Acquisition and Mergers
7.5 Oracle Corporation
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expense
7.5.5 Recent strategies and developments
7.5.5.1 Partnerships, Collaborations, and Agreements
7.5.5.2 Product Launches and Product Expansions
7.6 Parexel International Corporation (Pamplona Capital Management)
7.6.1 Company Overview
7.6.2 Recent strategies and developments
7.6.2.1 Partnerships, Collaborations, and Agreements
7.6.2.2 Product Launches and Product Expansions
7.6.2.3 Geographical Expansions
7.7 PRA Health Sciences, Inc. (KKR & Co., Inc.)
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental Analysis
7.7.4 Recent strategies and developments
7.7.4.1 Partnerships, Collaborations, and Agreements
7.7.4.2 Product Launches and Product Expansions
7.8 Medpace Holdings, Inc.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Recent strategies and developments
7.8.3.1 Partnerships, Collaborations, and Agreements
7.9 Medable, Inc.
7.9.1 Company Overview
7.9.2 Recent strategies and developments
7.9.2.1 Partnerships, Collaborations, and Agreements
7.9.2.2 Product Launches and Product Expansions
7.10. Clinical Ink, Inc. (G.I. Partners)
7.10.1 Company Overview
7.10.2 Recent strategies and developments
7.10.2.1 Partnerships, Collaborations, and Agreements

For more information about this report visit https://www.researchandmarkets.com/r/562t4q

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