Digital Trials Market Trends And Segments Forecast To 2029

The global digital trials market size was valued at USD 7.3 billion in 2022 and it is expected to grow at a growing at a CAGR 7.4% during the forecast period 2023 to 2029. The primary factors that drive the market are the increasing activities in research and development of novel drug medication and vaccines for acute and chronic diseases rising in the digital trial result and digitalization of clinical trials across the world.

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The global digital trials market segmentation:
1) By Study Design: Interventional, Observational, and Expand Access.
2) Application: Peripheral Vascular Disease, Oncology, Neurology, Urology, and Others.
3) End User: Hospitals, Ambulatory Surgical Centers, Pharmaceutical Companies, Laboratories, and Others

Oncology Studies to Dominate the Digital Trials Market:
Based on application type, oncology studies hold the highest market share. The major factor for the rise of this segment is the occurrence of various types of cancer in the world for which the development of novel drugs is necessary, creating new demand for oncology studies which drives the market. The digital trials on oncology provide new results to research firms to gain more information about the types of cancer. For most research firms, oncology is the major study for clinical trials, there are incidences of cancer cases arising in the world, resulting in various approaches towards novel studies in drug medications and vaccine studies to lower cancer.

Asia Pacific Anti-Blue Ray Myopia Lenses Market
Asia Pacific region is expected to grow significantly in digital trials market size over the forecast period. It is attributed to the increasing number of various acute and chronic diseases and the rapidly growing well-developed healthcare infrastructure. As the increase in the number of various large patient pools enables easy recruitment of candidates for developing digital trials in the region, China and India are the emerging markets for digital trials due to various diseases outbreak and technological infrastructure rise in the digital trial market.
Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.

The Digital 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 January 2023, Curebase launched All-in-One Software and Trial Execution Package to Help Digital Therapeutics Companies Accelerate Clinical Trials
In September 2022, BMS and ConcertAI launch a digital trial solution for oncology. The digital trial solutions are designed to merge well into the clinical workflows of healthcare practices.

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Key players' profiles in the digital trials market report are ICON plc, Parexel International Corporation, IQVIA, Covance, PRA Health Sciences, LEO Innovation Lab, Medidata, Oracle, CRF Health, Clinical Ink, Medable, Inc., Signant Health, Clinical Ink, Halo Health Systems, and Croprime

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This release was published on openPR.