The rising number of cancer cases in the countries such as US and Canada, increase in R&D expenditure in pharmaceutical and biopharmaceutical companies and globalization of virtual clinical trials are some of the factors anticipated to drive the growth of the market in the forecasted period. Besides this, the surging adoption of telehealth technologies such as like remote patient monitoring and wearable mHealth devices along with burgeoning incidences of n?ur?l?g???l disease such as Alzheimer, tumor and robust digitalization of clinical trials to efficiently gather information and to improve productivity are projected to upsurge the growth of North America virtual clinical trial market in the forthcoming years.
According to MarkNtel Advisors’ research report “North America Virtual Clinical Trials Market Analysis, 2020”, the North America Virtual Clinical Trials market is anticipated to grow at a considerable CAGR during 2020-25. Based on Type, th? ?nt?rv?nt??n?l Tr??l segment acquired the largest market share in the 2019 and is also anticipated to witness highest growth over the forecasted period. This is due to surging advancement in the treatment, expanding number of studies to develop new medications for various diseases and digitalization of research laboratories.
“North America Virtual Clinical Trials Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Virtual Clinical Trials providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
The US Dominated the Market
The US dominated the North America virtual clinical trial market in 2019. The growth is attributed to surging prevalence of cancer cases, rising spending by the pharma companies of R&D activities in conduction clinical trials and increasing collaboration between pharmaceutical and clinical research organization. According to American Cancer Society, an estimated 1,806,590 new cases of cancer will be diagnosed, and 606,520 people will die from the cancer in 2020 in the United States. Apart from this, strong foothold of giant market player, increasing digitalization in healthcare infrastructure and introduction of application for clinical trials by the players in order to enable patient-centric clinical trials are expected to bolster the growth of the Virtual Clinical Trials Market in the forthcoming period as stated in MarkNtel Advisors’ research report “North America Virtual Clinical Trials Market Analysis, 2020”.
According to MarkNtel Advisors’, the key players with a considerable market share in the North America Virtual Clinical Trials market 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.
Key questions answered in the study: