Virtual Clinical Trials Industry Outlook – Growth, Challenges & Opportunities

The Global Virtual Clinical Trials Market size was worth around USD 8.70 Billion in 2023 and is predicted to Grow to around USD 15.55 Billion By 2033 with a compound annual growth rate (CAGR) of 5.98% between 2023 and 2033. Virtual clinical trials are becoming more popular because of patient recruitment and retention, precision of data, reduced costs, and enhanced efficiency. Moreover, virtual trials facilitate the collection of real-world data in real-world settings and are available to a wide range of patient populations. Government initiatives, advances in technology, and increased demand for decentralized and patient-friendly trial methods are expected to drive the growth of the virtual clinical trials market during the next several years.