Decentralized Clinical Trials Market projected to reach USD 13.3 Billion by 2030, growing at a CAGR of 6.6% during the forecast period of 2023-2030 – professed by MarketDigits in its recent study

The Global Decentralized Clinical Trials Market was valued USD 8.5 Billion in 2023 and projected to reach USD 13.3 Billion by 2030, growing at a CAGR of 6.6% during the forecast period of 2023-2030

Richmond, Jan. 09, 2024 (GLOBE NEWSWIRE) — According to a research report “Decentralized Clinical Trials Market”, by Type (Interventional trials, Observational trials, Expanded access trials), Application (Oncology, Cardiovascular diseases, Others), Technology (Telemedicine platforms, Electronic data capture (EDC) systems, Wearable devices and remote monitoring solutions), and Region – Global Forecast to 2030.

Global Decentralized Clinical Trials Market Report Scope:

Report Details
Market size value in 2023 USD 8.5 Billion
Market size value in 2030 USD 13.3 Billion
CAGR (2023-2030) 6.6%
Forecast Period 2023–2030
Historic Data 2019
Forecast Units Value (USD Million/USD Billion)
Segments Covered Type, Technology, Application and Region
Geographies Covered North America, Europe, Asia Pacific, and RoW
 
  • Clinical Ink
 
  • CRF Health
Sample of Companies Covered
  • ICON
 
  • IQVIA
 
  • Labcorp

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TOC Covers in Depth & Breath on Decentralized Clinical Trials Market
170 – Market Data Tables
65 – List of Figures
225 – Pages

The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.

Market Overview

The Decentralized Clinical Trials (DCT) market has experienced significant growth driven by a shift towards patient-centric approaches and technological advancements. DCTs leverage digital health tools, wearable devices, and telehealth solutions to enable remote monitoring, reducing the need for frequent clinic visits. This patient-friendly model enhances inclusivity and diversity in trial participation. The market is characterized by the proliferation of technology providers offering wearables and telehealth platforms, while clinical research organizations play a crucial role in supporting trial conduct. DCTs have gained traction across therapeutic areas, with oncology and neurology at the forefront. As regulatory bodies provide guidance, North America leads in adoption, but global expansion is evident, promising more efficient and inclusive clinical research processes.

Major vendors in the global Decentralized Clinical Trials Market:

  • Clinical Ink
  • CRF Health
  • ICON
  • IQVIA
  • Labcorp
  • Medable
  • Medidata
  • Oracle
  • Parexel
  • PRA Health Sciences
  • Science 37

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Rising concerns related to data privacy

The increased interaction with virtual systems stands out as a prominent driver propelling the growth of the Decentralized Clinical Trials (DCT) market. This driver is closely tied to the integration of digital health technologies, telehealth platforms, and virtual interactions, which collectively enhance the decentralized trial experience. Virtual systems facilitate seamless communication between researchers and participants, enabling remote consultations, eConsent processes, and virtual visits. As the demand for patient-centric trial approaches intensifies, the reliance on virtual systems not only improves participant engagement but also streamlines data collection, ultimately contributing to more efficient and cost-effective clinical trials. This driver reflects the industry’s commitment to leveraging technological advancements to create a dynamic and inclusive research environment, where increased interaction with virtual systems plays a pivotal role in driving the growth and success of decentralized clinical trials.

Market Dynamics

Drivers:

  • Increased Interaction with Virtual Systems to Propel Growth
  • Technological Advancements

Opportunities:

  • Data Quality and Real-world Evidence
  • Expanded Therapeutic Areas

Decentralized Data Analytics

Decentralized Data Analytics emerges as a pivotal trend in the Decentralized Clinical Trials (DCT) market, reshaping the landscape of clinical research. This trend involves leveraging advanced analytics and artificial intelligence to process and analyze the vast and diverse data generated in decentralized trials. With the integration of digital health technologies and real-time data collection, decentralized trials produce a wealth of information from remote patient monitoring, wearables, and electronic health records. Decentralized Data Analytics not only enhances the speed and efficiency of data processing but also facilitates predictive modeling and actionable insights, contributing to more informed decision-making. By harnessing the power of analytics, researchers can uncover patterns, trends, and correlations in real-world patient data, ultimately improving trial outcomes and accelerating the development of innovative healthcare solutions in a patient-centric and technologically driven clinical research landscape.

The market for Decentralized Clinical Trials is dominated by North America.

North America asserts its dominance as a leading segment in the Decentralized Clinical Trials (DCT) Market. In the United States, the adoption of decentralized approaches is propelled by a robust healthcare infrastructure, technological innovation, and supportive regulatory frameworks from agencies like the FDA. The U.S. pharmaceutical industry’s inclination toward patient-centric models further accelerates the integration of DCTs. Canada, as part of the North American landscape, follows suit with a healthcare system that encourages innovation and research. Both nations benefit from a sizable pool of potential trial participants, diverse patient populations, and a strong commitment to advancing clinical research. However, challenges related to regulatory harmonization and data privacy regulations persist, underscoring the need for ongoing collaboration and adaptation to sustain North America’s leadership in shaping the future of decentralized clinical trials.

The Interventional trials Segment is Anticipated to Hold the Largest Market Share During the Forecast Period

Based on Type the Decentralized Clinical Trials market is segmented into Interventional trials, Observational trials, Expanded access trials. Interventional trials play a pivotal role in the dominance of the Decentralized Clinical Trials (DCT) market. This segment focuses on actively testing new treatments, drugs, or medical devices, utilizing decentralized approaches that enhance accessibility and patient participation. By incorporating innovative technologies and remote monitoring, interventional trials within the DCT framework streamline data collection, reduce site visits, and enhance patient engagement. The emphasis on real-world evidence, patient-centricity, and the flexibility of decentralized models amplifies the significance of interventional trials, positioning them as a key driver in shaping the landscape of modern clinical research methodologies.

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