From GlobeNewswire: 2024-11-15 09:00:00

The Virtual Clinical Trials Market was valued at USD 8.78 billion in 2023, expected to reach USD 14.89 billion by 2032, growing at a CAGR of 6.07%. Key digital innovations like AI-driven recruitment and telemedicine are optimizing trial efficiency, making clinical research more accessible, particularly for chronic and rare conditions.

Interventional design segment dominated the virtual clinical trials market in 2023, attributing over 40% of the market share. Expanded access segment is projected to grow rapidly at a CAGR of 5.9%. Oncology segment led the market in 2023, with the cardiovascular segment expected to be the fastest-growing during the forecast period.

North America held the largest share of the virtual clinical trials market in 2023, driven by the rapid adoption of digital healthcare and major pharmaceutical companies. Europe is anticipated to be the fastest-growing region due to increasing adoption of digital healthcare infrastructure and patient-centric trial methods encouraged by regulatory bodies. Europe continues to lead in virtual clinical trials, with growth driven by applications in immunology and rare disease trials. Recent developments include Dassault Systèmes releasing a guide on virtual twins, PicnicHealth launching a Virtual Site program, Signant Health acquiring DSG, and Medable Inc. launching a toolkit for IRBs and ECs to streamline ethics review procedures in decentralized clinical trials. These advancements are shaping the future of clinical trials globally.



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