The Worldwide Virtual Clinical Trials Industry is Expected to Reach $10 Billion by 2026
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The Global Virtual Clinical Trials Market size is expected to reach $10 billion by 2026, rising at a market growth of 6.5% CAGR during the forecast period. Virtual Clinical Trials (VCTs) are also known as remote or decentralized trails, are a comparatively new but still underused technique of carrying out clinical research taking complete benefit of technologies like apps, online social interaction platforms, and electronic monitoring tools. The market is significantly driven by growth in R&D activities, the growing digitization in healthcare, and the adoption of telehealth. Moreover, advances in technology, collaborations between clinical research companies, biotechnology companies, and pharmaceutical and support initiatives from governments are expected to boost the market.