The Latin America, Middle East and Africa Virtual Clinical Trials Market would witness market growth of 7.4% CAGR during the forecast period (2020-2026). Growing demand for the latest medical tools and medicines among end-users, combined with rising investment for R&D initiatives for the growth of effective medicines are significant components boosting the growth of the worldwide clinical trials market during the forecast period. Moreover, the growing number of people who suffer from chronic diseases and changing circumstances and nature of specific kinds of chronic diseases is another component expected to boost the growth of the virtual clinical trials market to a large extent.
The growing requirement to create new therapeutics for chronic disorders like cancer, respiratory diseases, diabetes, cardiovascular disease, and others is putting massive pressure on healthcare. The global outbreak of the COVID-19 and the rising demand for creating an appropriate treatment for the same is boosting the growth of the market.
Monitoring of remote patients and virtual visits to physical site visits provide members a choice and comfort of not prone to unnecessary dangers. The virtual examination empowers sponsors to include a bigger population in the research, hence enhancing recruitment, engagement, and retention. Besides, it allows continuous and real-time collection of data with the help of digital health technologies. Finally, virtual connectivity, management, and monitoring can majorly reduce the effort, participants’ burden and time commitments, CRCs, and investigators.
Based on Study Type, the market is segmented into Interventional, Observational, and Expanded Access and Others. Based on Indication, the market is segmented into Oncology, Cardiovascular, Immunology, Gastrointestinal, Respiratory, Endocrinology, Ophthalmology and Other Indications. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Virtual Clinical Trials Market in LAMEA is expected to register a CAGR of 7.4% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IQVIA Holdings, Inc., ICON PLC, Laboratory Corporation of America Holdings (Covance, Inc.), Dassault Systemes SE (Medidata Solutions, Inc.), Oracle Corporation, Parexel International Corporation (Pamplona Capital Management), PRA Health Sciences, Inc. (KKR & Co., Inc.), Medpace Holdings, Inc., Medable, Inc. and Clinical Ink, Inc. (G.I. Partners)
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