Dublin, June 11, 2024 (GLOBE NEWSWIRE) -- The "Decentralised Clinical Trials Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for the Decentralised Clinical Trials Market is set to surpass US$9.2 billion in 2024, with strong revenue growth through to 2034.
The globalization of clinical trials is fundamentally transforming the clinical trials market. The underline growth is driven by the expanding clinical trials that indicate towards a significant shift in the healthcare landscape. There is a growing need to accelerate drug development timelines, reduce costs, and access of innovative drugs to the diverse patient populations. The pharmaceutical and biotech companies invest heavily into conducting clinical trials to gather comprehensive clinical data across different countries.
Gathering clinical data from diverse populations has a profound impact on the development and efficacy of medical treatments. By including participants from various ethnic, genetic, and socio-economic backgrounds, clinical trials can produce more comprehensive and generalizable data. This diversity helps in understanding how different groups respond to treatments, which can uncover variations in drug efficacy and potential side effects that might not be apparent in a homogenous study group.
Globalization is essential in promoting regulatory harmonization across various regions, offering substantial advantages to the clinical trials market. By standardizing regulatory guidelines and procedures internationally, pharmaceutical companies can more easily manage the intricate approval processes in multiple countries at once. This alignment minimizes redundant efforts and simplifies the development and authorization of new therapies. As a result, the time-to-market for cutting-edge treatments is reduced, allowing patients globally to access new medical innovations more quickly. Furthermore, a cohesive regulatory framework fosters increased collaboration and data exchange among researchers worldwide, improving the overall quality and effectiveness of clinical trials.
Digital clinical trials (DCTs) heavily rely on digital health technologies and remote data collection methods, making the protection of sensitive patient information a top priority. Concerns regarding data privacy and security can emerge from multiple sources, including unauthorized access to personal health data, breaches of electronic systems, and non-adherence to data protection regulations. Remote monitoring devices, mobile applications, and telemedicine platforms may gather a plethora of sensitive health information, spanning medical history, treatment details, and biometric data. Unauthorized access or misuse of this data could result in privacy breaches, identity theft, and reputational harm for both patients and research organizations.
Data transmission may occur across various platforms, devices, and geographical locations, heightening the risk of data exposure or interception during transit. Moreover, involving third-party vendors like technology providers and cloud service providers further complicates the data security landscape, as these entities may have access to sensitive patient information. Clinical trials often span multiple countries with differing legal jurisdictions, posing challenges in comprehending and adhering to data privacy requirements. Variations in local interpretations of privacy laws in relation to clinical trials contribute to this complexity.
Key Market Dynamics
Market Driving Factors
- Advancements in Digital Health Technologies
- Globalisation of Clinical Trials
- Increasing Demand for Real-World Evidence
- Regulatory Support and Guidance
Market Restraining Factors
- Data Privacy and Security Concerns
- Technological Limitations and Standardization
- Infrastructure and Resource Constraints
Market Opportunities
- Acceleration of Drug Development and Innovation
- Expansion of Clinical Trial Activities into Emerging Markets
- Increasing Partnerships and Collaborations Between Pharmaceutical Companies
Key Questions Answered
- How is the decentralised clinical trials Market evolving?
- What is driving and restraining the decentralised clinical trials market?
- How will each decentralised clinical trials submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2034?
- How will the market shares for each decentralised clinical trials submarket develop from 2024 to 2034?
- What will be the main driver for the overall market from 2024 to 2034?
- Will leading decentralised clinical trials markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2034 and which geographical region will lead the market in 2034?
- Who are the leading players and what are their prospects over the forecast period?
- What are the decentralised clinical trials projects for these leading companies?
- How will the industry evolve during the period between 2024 and 2034? What are the implications of decentralised clinical trials projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the decentralised clinical trials market?
- Where is the decentralised clinical trials market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
Report Segmentation:
Study Design
- Interventional
- Observational
- Expanded access
Indication
- Oncology
- Cardiovascular
- Immunology
- Respiratory
- Others
Component
- Mobile Healthcare
- Telemedicine
- Wearable Devices
- Web-based Technology
- Others
End-users
- Pharmaceutical and Biopharmaceutical Companies
- CROs
- Others
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 27 leading national markets.
The report also includes profiles and for some of the leading companies in the Decentralised Clinical Trials Market, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
- Castor
- Clario
- Clinical Ink
- Cloudbyz
- Dassault SystemesSE (Medidata Solutions, Inc.)
- Ergomed Group
- Florence Healthcare, Inc.
- ICON Plc
- IQVIA Inc.
- KORE Wireless Group, Inc.
- Laboratory Corporation of America Holdings (Covance)
- Medable Inc.
- Medrio
- Oracle Life Sciences
- Parexel International (MA) Corporation
- ProPharma Group MIS Limited
- Science 37
- Signant Health (CRF Bracket)
- Syneos Health
- Thermo Fisher Scientific Inc. (PPD)
- Veeva Systems
For more information about this report visit https://www.researchandmarkets.com/r/pjp2js
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