Decentralized Clinical Trials Market Trends And Segments Forecast To 2029

The global decentralized clinical trials market size was valued at USD 1,675.5 million in 2022 and is poised to grow at a CAGR of 9.8% during the forecast period 2023 to 2029. The primary factors that drive the market are the growing prevalence of novel drug medications and vaccine development, rising patient safety and quality treatment, and increasing demand for correct data information through decentralized clinical trials.

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Observational Studies to Dominate Decentralized Clinical Trials Market
Based on type, observational studies through telemedicine, mobile healthcare providers, holds the highest market share. The major factor for the rise of this segment is that the use of observational results eradicates incorrect information sharing in the market, correct information of clinical trials is focused, and increases the revenue of the key players. For most key players, observational studies are a real solution as a user, the demand for accurate and high-quality data, enhanced patient convenience and experience, lowers the burden of travel, and decreased time-consuming in-patients visit. These factors can drive the Decentralized clinical trials market growth.

The global decentralized clinical trials market segmentation:
1) By Study Design: Interventional, Observational, and Expanded Access.
2) Component: Mobile Healthcare, Telemedicine, Wearable Devices, Web-Based Technology, and Others.
3) Application: Peripheral Vascular Disease, Oncology, Neurology, Urology, and Others.

Asia Pacific Decentralized Clinical Trials Market:
Asia Pacific region is expected to grow significantly in the decentralized clinical trials market over the forecast period. Decentralized clinical trials are studies executed through telemedicine, mobile, and local healthcare providers using the process of technology that differs from the traditional clinical method approach are known as a decentralized clinical trial, increasing the number of research and development activities and novel medications and vaccines, and rapidly growing well-developed healthcare infrastructure. In Japan and India, the pharmaceuticals and medical device company are promoting DCTs in the region with the support of government bodies' and new technology introduced to increase clinical trials in the region.
Strategic New Product Launches, Mergers,

Acquisitions, and Agreements are the key strategies adopted by market players:
The Decentralized clinical trials market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.
In November 2022, Clalit health services collaborated with IQVIA to work with clinical trial industry.

In October 2022, PPD Inc, pharmaceutical company, introduced new decentralized clinical trial network to facilitate participation in decentralized clinical market.

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Key players' profiles in the Decentralized clinical trials market report are Medidata, IQVIA, LabCorp, PRA Health Sciences, Parexel, ICON, Oracle, CRF Health, Clinical Ink, Medable, Science 37, LEO Innovation Lab, Covance, Thermo Fisher, Huma, and Signant Health

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