Canada Virtual Clinical Trials Market Size & Outlook
Canada virtual clinical trials market, 2017-2030 (US$M)
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Canada virtual clinical trials market highlights
- The Canada virtual clinical trials market generated a revenue of USD 364.9 million in 2022 and is expected to reach USD 502.8 million by 2030.
- The Canada market is expected to grow at a CAGR of 4.1% from 2023 to 2030.
- In terms of segment, interventional was the largest revenue generating study design in 2022.
- Expanded Access is the most lucrative study design segment registering the fastest growth during the forecast period.
Virtual clinical trials market data book summary
| Market revenue in 2022 | USD 364.9 million |
| Market revenue in 2030 | USD 502.8 million |
| Growth rate | 4.1% (CAGR from 2022 to 2030) |
| Largest segment | Interventional |
| Fastest growing segment | Expanded Access |
| Historical data | 2017 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Interventional, Observational, Expanded Access |
| Key market players worldwide | Icon PLC, PAREXEL, IQVIA Holdings Inc, Labcorp Holdings Inc, LEO Pharma, Medidata, Oracle Corp, Signant Health |
Other key industry trends
- In terms of revenue, Canada accounted for 4.4% of the global virtual clinical trials market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. virtual clinical trials market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 5,575.0 million by 2030.
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Virtual Clinical Trials Market Scope
Virtual Clinical Trials Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada virtual clinical trials market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to virtual clinical trials market will help companies and investors design strategic landscapes.
Interventional was the largest segment with a revenue share of 46.07% in 2022. Horizon Databook has segmented the Canada virtual clinical trials market based on interventional, observational, expanded access covering the revenue growth of each sub-segment from 2017 to 2030.
The growth of virtual clinical trials market in Canada can be attributed to increasing number of cancer cases. As per Canadian Cancer Statistics Report 2020, 225,800 new cases of cancer are likely to be diagnosed in the country.
In addition, increasing number of breast cancer (27,700), colorectal cancer (26,900), prostate cancer (23,300), and lung cancer (29,800) account for almost 48% of new cancer cases. Hence, the overall burden of cancer remains high in Canada.
Moreover, increasing aging population and rising number of deaths due to cancer would further stimulate the growth of the virtual clinical trials market in Canada. Various initiatives are also being undertaken for incorporating virtual clinical trials in the country.
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Target buyers of Canada virtual clinical trials market databook
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Our clientele includes a mix of virtual clinical trials market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Canada virtual clinical trials market , including forecasts for subscribers. This country databook contains high-level insights into Canada virtual clinical trials market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Canada virtual clinical trials market size, by study design, 2017-2030 (US$M)
Canada Virtual Clinical Trials Market Outlook Share, 2022 & 2030 (US$M)
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