The virtual clinical trial service providers market is projected to grow at an annualized rate{Roots

Roots Analysis has done a detailed study on Virtual Clinical Trial Service Providers Market, 2020-2050, covering key aspects of the industry’s evolution and identifying potential future growth opportunities.

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Key Market Insights
 Currently, many companies claim to have advanced technology platforms, which enable them to decentralize the clinical research process, thereby, optimizing associated costs and the total time spent on conducting trials
 The virtual clinical trials landscape is presently dominated by the presence of small-sized companies; majority of the players are headquartered in North America
 Considering the cost and time-related benefits of using modern technology solutions in clinical research, several investors have opted to fund the initiatives of companies engaged in the development of such solutions
 Case Study: Pharmaceutical players have already conducted a number of virtual clinical studies, mostly upon encountering constraints with the conventional approach and developing the means to overcome them
 The annual number of virtual trials, across different therapeutic areas, is on the rise; leveraging telehealth platforms and remote monitoring systems, both small and established companies are using this format
 The rising interest of stakeholders in decentralized clinical trials is evident in the growing partnership activity; companies inked deals based on a variety of collaboration models and applications, worldwide
 Owing to the tremendous rise in cost and complexity of conventional clinical research, the market opportunity for virtual clinical trials is poised to grow at a CAGR of 14% till 2050

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