Global Decentralised Clinical Trials Market is valued at approximately USD 9.30 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 15.40% over the forecast period 2024-2032. Decentralised Clinical Trials (DCTs) has revolutionized the landscape of clinical research, offering a paradigm shift in how trials are conducted. This innovative approach leverages digital health technologies, enabling remote monitoring and data collection, thus enhancing participant convenience and broadening patient diversity. The driving force behind this market surge includes the imperative to accelerate drug development timelines, mitigate costs, and increase the accessibility of diverse treatments to among large number of patients.
The globalization of clinical trials underscores a transformative era in the healthcare sector, driven by an extensive reach across various geographies. Pharmaceutical and biotech companies are heavily investing in these trials to garner comprehensive data from diverse demographic groups. This inclusivity in clinical trials fosters a deeper understanding of treatment efficacies across different genetic and socio-economic backgrounds, unveiling critical insights into potential side effects and drug responses. Moreover, regulatory harmonization has streamlined approval processes across multiple countries, reducing redundant efforts and expediting the introduction of breakthrough therapies to the market. However, concerns regarding data privacy and security and regulatory compliance are going to impede the overall demand for the market during the forecast period 2024-2032.
The key regions considered for the Global Decentralised Clinical Trials Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America was the dominating among regional market in terms of revenue owing to factors such as advanced healthcare infrastructure and the presence of major pharmaceutical companies. Regulatory bodies such as the FDA have been increasingly supportive of DCTs, providing guidelines and frameworks that facilitate the adoption of these trials. This regulatory environment encourages pharmaceutical companies to explore decentralized models. Furthermore, the market in Asia Pacific is anticipated to develop at the fastest rate over the forecast period 2024-2032.
Major market players included in this report are:
ICON plc
Medpace Holdings, Inc.
Parexel International Corporation
PPD, Inc.
Covance Inc.
LabCorp Drug Development
PRA Health Sciences
Syneos Health
IQVIA Holdings Inc.
Charles River Laboratories International, Inc
The detailed segments and sub-segment of the market are explained below:
By Study Design
Interventional
Observational
Expanded Access
By Indication
Oncology
Cardiovascular
Immunology
Respiratory
Others
By Component
Mobile Healthcare
Telemedicine
Wearable Devices
Web-based Technology
Others
By End-users
Pharmaceutical and Biopharmaceutical Companies
CROs
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market
