Virtual Clinical Trials Market Will Generate Record Revenue by 2029

The global virtual clinical trials market is anticipated to grow at a considerable CAGR of 8.5% during the forecast period (2023-2030). The number of trials involving mobile healthcare, has more than doubled in usage from 2019 to 2021. The ongoing market developments to promote the usage of virtual clinical trials are a key factor driving the market growth. For instance, in May 2023, NetraMark has released a new clinical trial de-risking technology called NetraGPT, which integrates ChatGPT. NetraGPT is based on hypotheses created from the firm’s proprietary good clinical practice (GCP) validated AI/ML system known as NetraAI. 

The NetraAI system has the capability to learn special combinations of variables that define patient subpopulations in the context of drug or placebo responses and adverse effects, which are important aspects of clinical trials. NetraGPT consumes data on specific clinical trial patient subpopulations identified by NetraAI. This process includes feeding various variables, biological or otherwise, which are statistically important for the dis8/covered subpopulations, based on the dependent variable, such as drug response, placebo response, placebo non-response, adverse events, and others. Based on these feeds, NetraGPT provides comprehensive, human-readable reports driven by large language models (LLMs).

Further, in January 2023, Kroger Health had launched a clinical trial site network. It will work with trial sponsors, contract research organizations and health systems to conduct clinical trials out of select Kroger pharmacies and clinics. It will also use virtual care and digital health tools to ensure patients stay enrolled in clinical trials.

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Market Coverage

•                 The market number available for – 2022-2030

•                 Base year- 2022

•                 Forecast period- 2023-2030

Segment Covered- 

·                  By Study Design

·                  By Indication

Regions Covered-

·                  North America

·                  Europe

·                  Asia-Pacific

·                  Rest of the World

Competitive Landscape- includes ICON PLC, Laboratory Corporation of America Holdings (Covance Inc.), Oracle Corp., Parexel International Corp., and IQVIA Holdings Inc., among others.

Virtual Clinical Trials Market Report Segment

By Study Design 

•                 Observational

•                 Interventional

•                 Expanded Access

By Indication Type 

•                 Cardiovascular Disease

•                 Oncology

•                 Other (Ophthalmology, Infectious Diseases, and other)

A full Report of Identity Theft Insurance Market is Available @  https://www.omrglobal.com/industry-reports/virtual-clinical-trials-market

Virtual Clinical Trials Market Report Segment by Region

North America                                                                                                           

·        United States

·        Canada                     

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan              

·                  South Korea

·                  Rest of APAC

Rest of the World

•       Latin America

•       Middle East and Africa 

Company Profiles

•                 Biorasi

•                 Clara Health

•                 Clariness

•                 Clinical Ink Inc.

•                 CRF Health

•                 Dassault Systemes SE (Medidata Solutions Inc.)

•                 Halo Health System Inc.

•                 ICON PLC 

•                 LEO Innovation Lab

•                 Medable Inc.

•                 Medpace Holdings Inc.

•                 PRA Health Sciences

•                 Signant Health

•                 TrialBee Inc.

•                 Worldwide Clinical Trials

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2.  More than 120 countries are for analysis.

3.  Over 100+ paid data sources mined for investigation.

4.  Our expert research analysts answer all your questions before and after purchasing your report.

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About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

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