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Global Virtual Clinical Trials Market Report to 2027: Adoption of Synthetic Clinical Trials Presents Opportunities

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Dublin, Dec. 15, 2022 (GLOBE NEWSWIRE) — The “Virtual Clinical Trials Market – Global Outlook & Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.

The virtual clinical trials market is one of the innovative approaches for traditional clinical trials, through remote monitoring and more patient-centric approaches.

These virtual clinical trials adoption was high during the COVID-19 pandemic period and the usage of decentralized clinical trials components application rate. Most clinical trial conductors started to move towards the decentralized or hybrid clinical trial model.

Virtual clinical trials are also known as de-centralized clinical trials. Although the vendors adopted virtual clinical trials for many years, however, it was very slow adoption before the pandemic.

The virtual clinical trials market includes the application of digital tools and technological processes that take trials from healthcare settings to patients’ homes or places of work.

The reduction in site visits, associated time, and economic cost cuttings eliminate the burden placed on patients and solve the challenges for trial participation. The virtual clinical trials market brought significant advantages and reduced major challenges like patient retention, recruitment, and more. These are the factors that fuel market growth.

Report Attribute Details
No. of Pages 276
Forecast Period 2021 – 2027
Estimated Market Value (USD) in 2021 $1930 Million
Forecasted Market Value (USD) by 2027 $5103.16 Million
Compound Annual Growth Rate 17.5%
Regions Covered Global

Market Trends

Virtual clinical trials are an alternative method to traditional clinical trial methods. The new connected devices power clinical trial activities with better clinical data collection, analysis, and interpretations play a significant role.

Clinical trial monitoring devices, clinical trial software, eCOA & ePRO, and eConsent are some digital tools that strengthen clinical trial activities and give a new shift in the clinical trial industry.

On another side, the bring-your-own-devices strategy, a newly adopted trend, is widely accepted among CROs and sponsors. This new strategy allows the trial participants to deliver required data with their own internet-enabled solutions. Technological advances and confidence in improved study outcomes can bring new solutions.

The latest retrospective approach, adopting the synthetic clinical trial approach, delivers significant clinical development. Many biopharma and medical device companies face challenges in finding participants for clinical trials; this synthetic arm process is one of the easy methods, using the innovative approach for collecting and comparing data called the synthetic control arm.

This is one of the fully new approaches in the virtual clinical trials market and is expected to drive significant growth. In addition, the involvement of Artificial Intelligence (AI) in clinical trials significantly changes the trial procedure as AI can expedite target validation, clinical trial design, and patient identification for participation in virtual clinical trials.

Industry Drivers

The COVID-19 pandemic is the significant factor that shifted the traditional clinical trials approach to the virtual clinical trials market. The rapid surge of COVID-19 infections poses substantial challenges in the clinical trial space, where the virtual clinical trial model significantly pushed the biopharmaceutical and medical device industry towards decentralization (DCT).

During the COVID-19 pandemic period, approximately 87% of clinical trial sponsors and contract research organizations decentralized the clinical trial activities compared with 28% only pre-covid period.

The market players and the companies pioneer in clinical trials activities understand that decentralization in clinical trials is the future of the clinical trials space.

Over the last few years, decentralization has rapidly grown in the clinical trials industry. Decentralization of clinical trials has significant potential since the virtual clinical trials are independent of regional/geographical locations and are implemented through digital health platforms as well as mobile and local healthcare segments; this makes the providers eliminate the constraints associated with the traditional model.

Regulatory changes in favor of DCT: The pandemic period (COVID-19 Crisis) has supercharged the changes for virtual clinical trials from regulatory agencies worldwide. Including Food Drugs Administration (FDA), UK’s Medicine and Healthcare Product Regulatory Agency (MHRA), European Medicine Agency (EMA), China’s Center for Drug Evaluation (CDE), and Singapore Health Science Authority (HSA) have made revolutionary regulations towards the virtual clinical trials market.

On another side, the challenges associated with the virtual clinical trials model, such as the high expenditure required for the initial implementation, data reliability and integrity, and varied state law and regulations, are some factors that hamper the market growth. In addition, the increasing digital tools and growing risk of cyber-attacks are challenging aspects of the virtual clinical trials market growth.

Vendor Landscape

Medable, Science 37, THREAD, Dassault Systemes (Medidata), IQVIA, Clinical ink, Castor, ObvioHealth, Labcorp Drug Development, ERT, Signant Health, Covance, Jeeva, Accenture, and Delve Health are some of the significant players in the global virtual clinical trials market.

Further, factors such as increasing drug development focused by various big pharma and biotech companies, continuously increasing their expenditure on research and development activities, clinical trials, and development of advanced solutions triggered high competency in the biopharmaceutical industry. Increasing competition in the pharma industry directly impacts the competitiveness in the virtual clinical trial market.

THREAD offers a unique, innovative, and highly advanced decentralized clinical trial platform in the virtual clinical trials market. THREAD is a fully configurable and singular DCT platform with services that deliver global scalability and rapid flexibility from DCT study design. In 2022, the company acquired inVibe to ingrate the voice of the trial participants and broaden the trial design and research capabilities.

Key Company Profiles

  • Dassault Systemes
  • Medable
  • Science 37
  • THREAD

Key Companies To Watch

  • Accenture
  • Castor
  • Clinical ink
  • Clario
  • Delve Health
  • eClinicalHealth
  • IQVIA
  • Labcorp Drug Development
  • ObvioHealth
  • Signant Health
  • Thermo Fisher Scientific

Other Prominent Vendors

  • Advarra
  • Curavit Clinical Research
  • CMIC Holdings
  • Icon Plc
  • Jeeva Informatics Solutions
  • LEO Innovation Lab
  • Oracle
  • Paraxel International Corporation
  • ProPharma Group

Key Questions Answered:
1. What is the size of the global virtual clinical trials market?
2. What is the global virtual clinical trials market growth?
3. What are the trends in the global virtual clinical trials market?
4. Who are the key players in the global virtual clinical trials market?
5. Which region will dominate the global virtual clinical trials market share?

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
4.3.1 Market Segmentation by Study Type
4.3.2 Market Segmentation by Stage of Development
4.3.3 Market Segmentation by Therapeutic Area
4.3.4 Market Segmentation by Company Size
4.3.5 Market Segmentation by Geography

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Premium Insights
6.1 Overview

7 Introduction
7.1 Overview

8 Market at a Glance

9 Market Opportunities & Trends
9.1 Adoption of “Bring-Your-Own-Device” Strategy
9.2 Clinical Trials Powered With Better Data Through New Connected Devices
9.3 Adoption of Synthetic Clinical Trials

10 Market Growth Enablers
10.1 Spike in Virtual Clinical Trial Adoption Due to Covid-19
10.2 Decentralization of Clinical Trials
10.3 Regulatory Changes in Favor of Virtual Clinical Trials

11 Market Growth Restraints
11.1 Challenges Associated With Virtual Clinical Trials
11.2 Complexity in Decentralized Clinical Trials
11.3 Increasing Alternatives for Virtual Clinical Trials

12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.2.1 Insights by Study Type
12.2.2 Insights by Phases
12.2.3 Insights by Therapeutic Area
12.2.4 Insights by Geography
12.3 Five Forces Analysis
12.3.1 Threat of New Entrants
12.3.2 Bargaining Power of Suppliers
12.3.3 Bargaining Power of Buyers
12.3.4 Threat of Substitutes
12.3.5 Competitive Rivalry

13 Study Design
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Interventional
13.3.1 Market Overview
13.3.2 Market Size & Forecast
13.4 Others
13.4.1 Market Overview
13.4.2 Market Size & Forecast

14 Phases
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Late Stage
14.3.1 Market Overview
14.3.2 Market Size & Forecast
14.4 Early Stage
14.4.1 Market Overview
14.4.2 Market Size & Forecast

15 Therapeutic Area
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Oncology
15.3.1 Market Overview
15.3.2 Market Size & Forecast
15.4 Rare & Genetic Diseases
15.4.1 Market Overview
15.4.2 Market Size & Forecast
15.5 Central Nervous System
15.5.1 Market Overview
15.5.2 Market Size & Forecast
15.6 Immunology
15.6.1 Market Overview
15.6.2 Market Size & Forecast
15.7 Others
15.7.1 Market Overview
15.7.2 Market Size & Forecast

16 Company Size
16.1 Market Snapshot & Growth Engine
16.2 Market Overview
16.3 Small- & Mid-Sized
16.3.1 Market Overview
16.3.2 Market Size & Forecast
16.4 Large-Sized
16.4.1 Market Overview
16.4.2 Market Size & Forecast

17 Geography

18 North America

19 Europe

20 APAC

21 Latin America

22 Middle East & Africa

23 Competitive Landscape

24 Key Company Profiles

25 Key Companies to Watch

26 Other Prominent Vendors

27 Report Summary

28 Quantitative Summary

29 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/32d1h5

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Ancoris Recognised as Top Place to Work for Second Year Running by The Sunday Times

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Ancoris recognised for fostering a sense of empowerment and respect within the workplace91% of Ancoris employees feel empowered at work93% of employees say that are treated with respectLONDON, May 21, 2024 /PRNewswire/ — Ancoris, a UK-based Google Cloud services provider, has been named a Top Medium Business in The Sunday Times 2024 Best Places to Work list. The accolade has been awarded for the second year in a row, and recognises Ancoris’ focus on DEI; its commitment to empowerment, reward, and recognition; and its wellbeing policies and frameworks.

“I am so pleased to see Ancoris recognised, once again, as a top place to work!” says Andre Azevedo, Ancoris CEO. “Ancoris is a place where we try our best to foster collaboration, empowerment, innovation, and respect – so to have our employees echo this and respond in the way they have is amazing.”
The Sunday Times survey captured Ancoris employees’ responses in a number of categories: Reward and Recognition, Information Sharing, Empowerment, Wellbeing, Instilling Pride, and Job Satisfaction. The independently managed survey showed Ancoris scoring “excellent” across all six engagement categories, with top scores in Empowerment, Wellbeing, Reward & Recognition. In response, 93% of employees say they are treated with respect; 92% feel trusted and able to make decisions; and 91% of employees feel empowered at work.
“We’ve seen a lot of change over the last 12 months. The rise of Generative AI has caused shifts in our market and  economic conditions are causing customers to really qualify where they make technology investments. These pivots undoubtedly have an impact on our employees and how people feel at work,” Azevedo continues. “I truly believe, however, the innovative work we are doing for our customers has helped us maintain and create an even stronger sense of collaboration and pride for our team members. We’re lucky to have so many smart people within our business, so continuing to give them interesting, challenging, and rewarding problems to solve for our customers is really key.”
About AncorisAncoris is a leading Google Cloud Services Provider, headquartered in the UK, on a mission to become the most innovative Google Cloud partner in the ecosystem. Ancoris leverages its strong problem solving skills and continuous improvement approach to help customers become AI Native and stay ahead of their competition. Ancoris has extensive experience in Google Cloud technologies helping enterprises integrate AI-native solutions into their business through expertise in Data & AI, Application and Infrastructure Modernisation, Workspace, and Maps. Ancoris was recognized as a Rising Star for Data, Analytics, and Machine Learning in the ISG Provider™ Lens for Google Cloud Partner Ecosystem in 2022 and 2023 consecutively, and awarded Google Cloud’s 2024 EMEA Public Sector Partner of the Year award. Ancoris employs the best in the business and was named in the Top 10 Sunday Times Best Places to Work 2023, and a Top Place to Work in 2024.
Contact: Holly [email protected]
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Department of Health – Abu Dhabi Partners with Roche Pharmaceuticals Middle East to Elevate Research, Clinical Trials, and Real-World Data

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ABU DHABI, UAE, May 21, 2024 /PRNewswire/ — The Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the Emirate, signed a Memorandum of Understanding (MoU) with Roche Pharmaceuticals Middle East during Abu Dhabi Global Healthcare Week (ADGHW). Under the MoU, the two entities will advance critical research using real-world data to study and assess the spinal muscular atrophy burden in Abu Dhabi, as well as assessing potential conduction of research and the facilitation of real-world data collection to monitor Duchenne Muscular Dystrophy (DMD) disease.

 
 
In the presence of Dr. Rashed Alsuwaidi, the Executive Director of the Healthcare Workforce Planning Sector at DoH and Michael Oberreiter, Head of Global Access at Roche Pharmaceuticals, the MoU was signed by Dr. Asma Al Mannaei, the Executive Director of the Research and Innovation Centre at DoH and Mohamed Elshaarawy, General Manager Roche Pharmaceuticals, UAE.
Dr. Asma Ibrahim Al Mannaei, Executive Director of the Research and Innovation Center at the at DoH said: “Abu Dhabi has a track record of excellence and fast-growing, future-forward, data-enabled services. Serving as a hub for healthcare data, Abu Dhabi’s substantial computing power enables it to harness the potential within this data, transforming it into valuable information. This, in turn, allows us to innovate and develop novel approaches to shift healthcare towards prediction, prevention, and treatment, thereby accelerating the future of healthcare, not only for Abu Dhabi but for the global community. Through international collaborations, Abu Dhabi seeks to lead research groups supported by global partners to explore the resilience and sustainability of the healthcare sector worldwide as well as expand access to quality care for patients around the world.”
The two entities will work together to support the evolution of real-world data collection frameworks in Abu Dhabi. Enhancing DoH’s ability to track and monitor outcomes of therapies will support DoH in making informed clinical and policy decisions for better optimisation of patient outcomes. Furthermore, DoH and Roche will strengthen the research network across Abu Dhabi and improve accrual for potential clinical trials.
Mohamed Elshaarawy, General Manager Roche Pharmaceuticals, UAE said: “This MoU underscores our collaboration with the DoH which is fuelled by a shared vision of harnessing the power of data to drive informed decision-making within the healthcare system. Data-driven healthcare systems hold immense potential to revolutionise patient care and outcomes. Through the generation, utilisation, and realisation of data, healthcare professionals and policymakers can unlock valuable insights, identify trends, and make evidence-based decisions. This data-driven approach enables us to optimise resource allocation, personalise treatment approaches, and ultimately achieve better patient outcomes. By harnessing the full potential of data, we can improve the overall efficiency and effectiveness of the healthcare system, ensuring that every patient receives the highest quality of care tailored to their specific needs. We are sincerely grateful for the trust, confidence, and empowerment the DoH has placed in establishing this effective public-private partnership with Roche in the UAE.”
Held under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, ADGHW is a major government initiative by the DoH, which took place from the 13th -15th May 2024.
For more information please visit: https://www.adghw.com/
About Department of Health – Abu Dhabi (DoH):
The DoH is the regulatory body of the healthcare sector at the Emirate of Abu Dhabi and ensures excellence in healthcare by monitoring the health status of the population. DoH defines the strategy for the health system, monitors and analyses the health status of the population and performance of the system. In addition, DoH shapes the regulatory framework for the health system, inspects against regulations, enforce standards, and encourages adoption of world-class best practices and performance targets by all healthcare service providers in the Emirate. DoH also drives programmes to increase awareness and adoption of healthy living standards among the residents of the Emirate of Abu Dhabi in addition to regulating scope of services, premiums and reimbursement rates of the health system.
For further information on DoH, visit https://www.doh.gov.ae/ and follow on X, Instagram, Facebook, LinkedIn and YouTube.
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Biopharma Leaders Shape the Future of Drug Development at Veeva R&D and Quality Summit Europe

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Ascendis, Bayer, Boehringer Ingelheim, Jazz Pharmaceuticals, Novo Nordisk, Sanofi, and Teva to keynote sharing innovations to drive better patient outcomes
BARCELONA, Spain, May 21, 2024 /PRNewswire/ — Veeva Systems (NYSE: VEEV) today announced that leaders from Ascendis Pharma A/S, Bayer, Boehringer Ingelheim, Jazz Pharmaceuticals, Novo Nordisk, Sanofi, and Teva will be keynote speakers at Veeva R&D and Quality Summit, Europe, June 4-5 in Madrid, Spain. Life sciences professionals across the industry will come together to share how connected technologies across clinical, regulatory, safety, and quality are advancing innovations for patients.

As one of the largest gatherings of biopharma leaders in Europe, Veeva R&D and Quality Summit will bring together over 1,000 industry professionals to share learnings across more than 100 sessions. Bayer and Jazz Pharmaceuticals will join Rik Van Mol, senior vice president of Veeva Development Cloud, and Avril England, general manager of Veeva Vault, for the opening keynote to explore the future of development for new medicines and therapies.
The event’s zone keynotes include:
Ascendis and Bayer, sharing strategies to reduce costs and accelerate trials with a connected platform.Boehringer Ingelheim, detailing its shift toward data-centric regulatory information management.Novo Nordisk, showing how it uses data and AI to transform clinical research.Sanofi, explaining its innovative approach to advance quality through operational excellence.Teva, providing insight into its rapid journey from disparate safety systems into one streamlined global solution.A panel with Elpida Therapeutics CEO Terry Pirovolakis and Veeva experts will close the event with a discussion on how the industry can best accelerate the development of life-saving rare disease gene therapies.
“Connecting clinical, regulatory, safety, and quality is key to advancing the product lifecycle and delivering better outcomes for patients,” says Rik Van Mol, senior vice president of Veeva Development Cloud. “At Veeva R&D and Quality Summit, biopharma leaders can connect, exchange ideas, and share new strategies to advance the industry forward together.”
Veeva R&D and Quality Summit is open exclusively to life sciences professionals. Register and review the agenda at veeva.com/eu/Summit.
Additional InformationConnect with Veeva on LinkedIn: linkedin.com/company/veeva-systems
About Veeva SystemsVeeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world’s largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com/eu.
Veeva Forward-looking StatementsThis release contains forward-looking statements regarding Veeva’s products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-K for the fiscal year ended January 31, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 9 and 10), and in our subsequent SEC filings, which you can access at sec.gov.
Contact:
Jeremy WhittakerVeeva [email protected]
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