VIRTUAL CLINICAL TRIALS MARKET ANALYSIS

Regional Analysis

Global Virtual Clinical Trials Market: Regional Insights

Based on geography, the global virtual clinical trials market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market during the forecast period due to the rise in burden of chronic disease, increase in the number of clinical trials, increase in R&D (research and development), and well established healthcare infrastructure in the region. For instance, in June 2022, the Government of Canada announced the launch of the Clinical Trials Fund (CTF), supported by the investment of US$ 250 million for the Canadian Institutes of Health Research (CIHR). The government aims to improve health outcomes for Canadians while ensuring Canada is well-positioned to respond to future pandemics and other health priorities.

Europe and Asia Pacific are also expected to witness robust growth in the global virtual clinical trials market owing to the growing burden of diseases, increase in research and development, and well established healthcare infrastructure in these regions. For instance, the European Union (EU) pharmaceutical legislation, the Clinical Trials Regulation entered into application on January 31, 2022. It aims to ensure the EU offers an attractive and favourable environment for carrying out clinical research on a large scale, with high standards of public transparency and safety for clinical trial participants. Clinical Trials Regulation harmonizes the process of evaluating and supervising clinical trials across the European Union.

• North America: U.S. and Canada
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Middle East and Africa: GCC Countries, Israel, Rest of Middle East, South Africa, North Africa, and Central Africa