Decentralized Clinical Trials Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 8.17 Billion |
| Market Size (2029) | USD 14.57 Billion |
| CAGR (2024 - 2029) | 12.25 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Decentralized Clinical Trials Market Analysis
The Decentralized Clinical Trials Market size is estimated at USD 8.17 billion in 2024, and is expected to reach USD 14.57 billion by 2029, at a CAGR of 12.25% during the forecast period (2024-2029).
The major factors driving the market are increasing technological advancement in digital health, growing demand for the participant's convenience in decentralized clinical trials, the low-cost advantage of decentralized clinical trials, and increasing globalization of clinical trials.
The increasing technological advancement in digital health, such as mobile apps, wearable devices, and telemedicine, enables efficient remote data collection in decentralized clinical trials, which ultimately drives the studied market over the forecast period.
For example, in October 2023, Sibel Health, a digital health firm, unveiled a physiological monitoring platform tailored for clinical trials. This platform captures continuous vital signs, including heart rate via ECG, respiratory rate, SpO2, blood pressure, and temperature, all from the participant's home. In another instance, in July 2024, Lindus Health, in collaboration with Aktiia, introduced an optical blood pressure monitoring device for hypertensive patients. This bracelet-style device continuously measures blood pressure using optical sensors, presenting a modern alternative to conventional cuffs. Such innovations in digital health, facilitating the shift towards DCTs, are set to bolster the market's growth.
Moreover, the cost-effectiveness and heightened convenience for patients are anticipated to further propel the adoption of DCTs. As highlighted in a 2023 article from the Therapeutic Innovation and Regulatory Science Journal, DCTs offer significant value to sponsors in drug development, promising high returns on investment. DCTs also enhance operational efficiency by automating manual data collection, ensuring frequent communication with study participants, and optimizing the productivity of investigative site personnel. Therefore, the advantages of cost-efficiency and patient convenience in DCTs are poised to boost their adoption in drug development, driving the market's growth.
In summary, technological strides in digital health, coupled with the cost and convenience benefits of DCTs, are set to fuel the market's expansion. However, regulatory hurdles across various regions may temper this growth.
Decentralized Clinical Trials Market Trends
Oncology Segment is Expected to Hold Significant Market Share Over the Forecast Period
Decentralized clinical trial methods in oncology encompass patient-centric approaches, including electronic informed consent, virtual clinic visits, home delivery of investigational products, and local laboratory or imaging assessments. These methods not only alleviate burdens for both patients and sponsors but also enhance the accrual and retention of a more diverse trial population. Key drivers for this segment's growth include the escalating prevalence of cancer cases and the surging adoption of digital solutions in decentralized oncology clinical trials.
As cancer cases rise, so does the demand for novel drugs. This heightened demand accelerates the need for decentralized clinical trials, facilitating quicker data collection, enhanced data quality, and thorough analysis in oncology drug development. Such dynamics are poised to bolster the segment's revenue during the forecast period. For context, the American Cancer Society's 2024 update projects approximately 2 million new cancer diagnoses in the U.S. for 2024. This translates to an average of 5,480 new cases daily. Given these figures, the segment's revenue trajectory appears promising.
Moreover, the growing demand of digital solutions in decentralized oncology trials not only boosts patient convenience but also curtails drug development costs. This dual advantage is set to propel the segment's growth. Highlighting this trend, in October 2022, Medable, a leading clinical trial software provider, unveiled its "patient-first oncology solution." This suite boasts pre-built applications like Total Consent and Televisit, a comprehensive eCOA oncology library, and expert protocol design consulting. Such innovations enhance trial access, diversity, and retention, especially for patients on intensive cancer therapies, allowing them to engage both remotely and on-site. Thus, the momentum of digital technology adoption in decentralized oncology trials is poised to fuel segment growth.
In summary, the confluence of rising cancer prevalence and the strategic adoption of digital solutions in decentralized oncology trials is set to drive the market's trajectory in the coming years.
North America is Expected to Hold the Significant Market Share Over the Forecast Period
Factors such as the rising prevalence of chronic diseases, heightened investments in research and development, and an increasing demand for patient convenience during clinical trials are propelling the decentralized clinical trials market in North America. Additionally, government initiatives aimed at boosting the adoption of decentralized clinical trials (DCTs) and strategic maneuvers by key players further fuel this growth.
Government initiatives to bolster the adoption of decentralized clinical trials, thereby enhancing research activities, are poised to propel the market during the forecast period. For example, in May 2024, Allucent, a mid-sized clinical research organization (CRO), announced a project award worth USD 25.5 million. This award channeled through the Rapid Response Partnership Vehicle (RRPV) Consortium, is for Allucent's Decentralized Home Focus COVID-19 Trial. The project entails a 4,000-participant decentralized Phase IV observational study, aiming to evaluate correlates of protection (CoPs) post-vaccination with an FDA-approved or authorized COVID-19 vaccine. Such government-backed funding underscores the surging demand for decentralized clinical trials in North America, bolstering the market's growth.
Moreover, strategic activities like acquisitions, collaborations, and expansions are set to further energize the market. For instance, in February 2024, Syneos Health, a comprehensive biopharmaceutical solutions entity, unveiled a Decentralized Clinical Trial (DCT) Site Network spanning the U.S. and Canada. This initiative aims to facilitate the adoption of DCTs and ensure top-notch delivery of DCTs and digital health tech solutions. Covering a wide array of therapeutic areas, the DCT Site Network includes specialties like Internal and General Medicine, Neurology, Pediatrics, Psychiatry, and more. Such strategic moves enhance the reach and accessibility of decentralized clinical trials in North America, propelling the market's growth.
Hence, government initiatives and strategic activities by key players are set to drive the decentralized clinical trials market in North America during the forecast period.
Decentralized Clinical Trials Industry Overview
The decentralized clinical trials market is fragmented due to the presence of many global and region-specific players in the market. The major players in the market are adopting various strategic activities such as mergers, collaborations, and expansions to strengthen their geographical presence and expand their customer base across the globe. Some of the key players in the market are Advarra, Thermo Fisher Scientific Inc., IQVIA Inc., Medidata, and Clario, among other players.
Decentralized Clinical Trials Market Leaders
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Advarra
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Thermo Fisher Scientific Inc
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IQVIA Inc
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Medidata
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Clario
*Disclaimer: Major Players sorted in no particular order
Decentralized Clinical Trials Market News
- June 2024: Curavit Clinical Research, a virtual contract research organization (VCRO) that specializes in decentralized clinical trials (DCTs) for digital therapeutics (DTx), successfully completed a DCT for the Sana Device. Curavit delivered a 76% retention rate and managed all aspects of participation with remote-based clinical research coordinators (CRCs).
- February 2024: PMC Trials acquired EmVenio, a community-based clinical trial site provider equipped with mobile research units, to design a patient-centric approach for hybrid and decentralized clinical trials.
Decentralized Clinical Trials Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and market definitions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 The Increasing Technological Advancement in Digital Health
4.2.2 The Low Cost Advantage and High Patient Convenience of Decentralized Clinical Trials
4.3 Market Restraints
4.3.1 Regulatory Challenges
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Study Design
5.1.1 Interventional
5.1.2 Observational
5.1.3 Expanded Access
5.2 By Component
5.2.1 Cloud-Based
5.2.2 Web-Based
5.3 By Therapeutic Application
5.3.1 Oncology
5.3.2 Cardiology
5.3.3 Neurology
5.3.4 Respiratory
5.3.5 Others (Ophthalmology and Dentistry)
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Advarra
6.1.2 Thermo Fisher Scientific Inc
6.1.3 IQVIA Inc
6.1.4 Medidata
6.1.5 Clario
6.1.6 Propharma
6.1.7 Obvio Health USA, Inc.
6.1.8 Oracle
6.1.9 Veristat, LLC.
6.1.10 Everest Global, Inc.
6.1.11 Curavit
6.1.12 Curebase
6.1.13 Florence Healthcare
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Decentralized Clinical Trials Industry Segmentation
As per the scope of the report, the deployment of remote and virtual clinical trial methods and technologies is referred to collectively as decentralized clinical trials (DCTs). In decentralized clinical trials, digital health technologies (DHTs) are used to capture health care information for clinical trials directly from individuals. The decentralized clinical trials market is segmented into study design, component, therapeutic application, and geography. By study design, the market is segmented into interventional, observational, and expanded access. By component, the market is segmented into cloud-based and web-based. By therapeutic application, the market is segmented into oncology, cardiology, neurology, respiratory, and by others, the market is segmented into ophthalmology and dentistry. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America. The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers values (in USD) for the above segments.
| By Study Design | |
| Interventional | |
| Observational | |
| Expanded Access |
| By Component | |
| Cloud-Based | |
| Web-Based |
| By Therapeutic Application | |
| Oncology | |
| Cardiology | |
| Neurology | |
| Respiratory | |
| Others (Ophthalmology and Dentistry) |
| Geography | ||||||||
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Decentralized Clinical Trials Market Research FAQs
How big is the Decentralized Clinical Trials Market?
The Decentralized Clinical Trials Market size is expected to reach USD 8.17 billion in 2024 and grow at a CAGR of 12.25% to reach USD 14.57 billion by 2029.
What is the current Decentralized Clinical Trials Market size?
In 2024, the Decentralized Clinical Trials Market size is expected to reach USD 8.17 billion.
Who are the key players in Decentralized Clinical Trials Market?
Advarra, Thermo Fisher Scientific Inc, IQVIA Inc, Medidata and Clario are the major companies operating in the Decentralized Clinical Trials Market.
Which is the fastest growing region in Decentralized Clinical Trials Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Decentralized Clinical Trials Market?
In 2024, the Asia Pacific accounts for the largest market share in Decentralized Clinical Trials Market.
What years does this Decentralized Clinical Trials Market cover, and what was the market size in 2023?
In 2023, the Decentralized Clinical Trials Market size was estimated at USD 7.17 billion. The report covers the Decentralized Clinical Trials Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Decentralized Clinical Trials Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Decentralized Clinical Trials Industry Report
Statistics for the 2024 Decentralized Clinical Trials market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Decentralized Clinical Trials analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
