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Virtual Clinical Trials Market Size Worth $11.5 Billion By 2028 | CAGR: 5.7%: Grand View Research, Inc.SAN FRANCISCO, April 13, 2021 /PRNewswire/ -- The global virtual clinical trials market size is expected to reach USD 11.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.7% from 2021 to 2028. The need for patient diversity clubbed with enhanced data collection in clinical trials is boosting virtual/decentralized clinical trials (DCTs) market growth. Key suggestions from the report:
Read 120 page research report with ToC on "Virtual Clinical Trials Market Size, Share & Trends Analysis Report By Study Design (Interventional, Observational, Expanded Access), By Indication (Oncology, Cardiovascular), By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/virtual-clinical-trials-market There has been a rise in the R&D of new drugs and vaccines that has increased the volume and complexity of the trials. Virtual clinical studies eliminate challenges posed by traditional research studies, for example, delays in patient recruitment and time-consuming procedures. Also, studies have revealed that around 75.0% of people favored a mobile trial over traditional ones and 80.0% of patients are more likely to participate in a research study that uses mobile technology. The current pandemic of COVID-19 is making the clinical trial industry change the way of conducting ongoing or upcoming research studies. The pandemic, for the first time in history, has resulted in the global disruption of traditional onsite research studies. Hence, the regulatory bodies such as the U.S. FDA, the European Medicines Agency (EMA), the National Institutes of Health (NIH), and China's Nationa Medical Products Administration (NMPA), and several other regulating authorities have issued guidelines related to the conduct of research studies during the outbreak of coronavirus, and are in complete support of incorporating virtual services. Virtual research studies make use of monitoring devices, software apps, and online social engagement platforms to conduct every step of the clinical trial process including patient recruitment, counseling, measuring clinical endpoints, informed consent, and adverse reactions. Telehealth, home care, and remote patient monitoring have been gaining momentum as a healthcare offering, and the COVID-19 is adding more horsepower to this initiative. Grand View Research has segmented the global virtual clinical trials market on the basis of study design, indication, and region:
List of Key Players of Virtual/Decentralized Clinical Trials (DCTs) Market
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Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg |