The Digital Clinical Trials Market Size was valued at USD 7.94 billion in 2022 and is expected to reach at USD 12.56 billion in 2030, and grow at a CAGR of 5.9% over the forecast period of 2023-2030.
The digital clinical trials market is a rapidly growing sector that leverages technology to transform the traditional approach to conducting clinical trials. With advancements in digital health solutions, remote monitoring, and data analytics, this market is revolutionizing the way clinical research is conducted.
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One of the key drivers behind the growth of the digital clinical trials market is the increasing demand for patient-centric approaches. Traditional clinical trials often face challenges such as limited patient participation, high dropout rates, and geographical constraints. However, with digital technologies, patients can now participate in trials from the comfort of their homes, eliminating many barriers to participation.
Digital clinical trials also offer numerous benefits for researchers and sponsors. By leveraging electronic data capture systems and wearable devices, researchers can collect real-time data from patients, enabling more accurate and comprehensive insights into treatment efficacy and safety profiles. This not only improves trial efficiency but also enhances patient safety by allowing early detection of adverse events.
KEY MARKET SEGMENTS
By Product type
- Digital Wearable Devices
- AI-Enabled Devices
- Health Apps
- Decentralized/Virtual Clinical Trials
- Hybrid Clinical Trials
- Phase I
- Phase II
- Phase III
- Phase IV
By End User
- Pharmaceutical companies
- Biotechnology companies
- Contract Research Organizations (CRO)
Major Players Listed in the Report are as Follows:
PPD, Inc, Stignant health, Human first, CRFweb, Data Management 365, IQVIA, IBM, Deloitte and Other Players
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