Mexico Virtual Clinical Trials Market Size & Outlook
Mexico virtual clinical trials market, 2017-2030 (US$M)
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Mexico virtual clinical trials market highlights
- The Mexico virtual clinical trials market generated a revenue of USD 109.5 million in 2022 and is expected to reach USD 170.7 million by 2030.
- The Mexico market is expected to grow at a CAGR of 5.7% from 2023 to 2030.
- In terms of segment, interventional was the largest revenue generating study design in 2022.
- Interventional 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 109.5 million |
| Market revenue in 2030 | USD 170.7 million |
| Growth rate | 5.7% (CAGR from 2022 to 2030) |
| Largest segment | Interventional |
| Fastest growing segment | Interventional |
| 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, Mexico accounted for 1.3% 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 Latin America, Brazil virtual clinical trials market is projected to lead the regional market in terms of revenue in 2030.
- Argentina is the fastest growing regional market in Latin America and is projected to reach USD 142.8 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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Mexico 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 46.76% in 2022. Horizon Databook has segmented the Mexico virtual clinical trials market based on interventional, observational, expanded access covering the revenue growth of each sub-segment from 2017 to 2030.
Mexico is the largest exporter of medical devices and a prominent exporter of pharmaceuticals in Latin America. This is expected to drive the market for virtual clinical trials in the country. Mexico is a land of diverse demographic profile, which creates opportunities for enrolment of patients at a large scale.
Furthermore, IMSS and other national health institutions potentially have repository of more than 70% of the patient population. Such factors make Mexico a suitable country for conducting virtual clinical trials, thus aiding in the market growth.
The current COVID-19 pandemic has interrupted many existing and new clinical trials. As of 3rd February 2021, there are over 1,874,092 coronavirus cases, leading to over 159,533 deaths in Mexico. Virtual clinical trials provide a cost-effective solution to this problem, thereby boosting the growth of virtual clinical trials market in Mexico.
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Target buyers of Mexico 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 Mexico virtual clinical trials market , including forecasts for subscribers. This country databook contains high-level insights into Mexico virtual clinical trials market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico virtual clinical trials market size, by study design, 2017-2030 (US$M)
Mexico Virtual Clinical Trials Market Outlook Share, 2022 & 2030 (US$M)
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