Virtual Clinical Trials Market Size, Share, Growth Analysis, By Indication(Oncology, Cardiovascular, other), By Study Design(Interventional, Observational, Expanded access), By Region - Industry Forecast 2024-2031

Global Virtual Clinical Trials Market size was valued at USD 8.24 billion in 2022 and is poised to grow from USD 8.71 billion in 2023 to USD 13.63 billion by 2031, growing at a CAGR of 5.75% during the forecast period (2024- 2031).

The increasing digitization of healthcare infrastructure worldwide is one of the primary reasons driving market growth. Increased use of VCT for dermatology testing is driving market expansion. Remote trials are commonly used to evaluate skin problems that do not require complex examinations. As the coronavirus disease (COVID-19) continues to spread worldwide, there has been a significant increase in demand for virtual and remote testing solutions for safe and effective data collection. Furthermore, technical innovations such as the launch of virtual patient interaction platforms and the utilization of wearable technologies are contributing as growth drivers. Through telemedicine platforms, these technologies assist in connecting patients with treating clinicians. Also, the absence of guidelines and the need to add information arising from the massive flow of information may hamper the market growth.

US Virtual Clinical Trials Market is poised to grow at a sustainable CAGR for the next forecast year.