Europe Virtual Clinical Trials Market Size & Outlook
Europe virtual clinical trials market, 2017-2030 (US$M)
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Europe virtual clinical trials market highlights
- The Europe virtual clinical trials market generated a revenue of USD 2,030.7 million in 2022.
- The market is expected to grow at a CAGR of 5.9% 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.
- Country-wise, Italy is expected to register the highest CAGR from 2023 to 2030.
Europe data book summary
| Market revenue in 2022 | USD 2,030.7 million |
| Market revenue in 2030 | USD 3,201.8 million |
| Growth rate | 5.9% (CAGR from 2022 to 2030) |
| Largest segment | Interventional |
| Fastest growing segment | Expanded Access |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 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, Europe region accounted for 24.5% of the global virtual clinical trials market in 2022.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,566.4 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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Europe 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 Europe virtual clinical trials market based on interventional, observational, expanded access covering the revenue growth of each sub-segment from 2017 to 2030.
Virtual trials are gaining traction in the European region. The concept had been maturing for some time before the pandemic and has been propelled further by the need for social distancing. For instance, in September 2019, Innovative Medicines Initiative (IMI), a public–private partnership, launched Trials@Home project to explore the use of digital technologies in clinical trials.
It is a big-scale collaborative project comprising 31 members, representing the European Federation of Pharmaceutical Industries and Associations (EFPIA), small- & midsized life sciences companies, academia, & patient organizations.
The project is scheduled to continue until August 2024. The project will use virtual elements and thus is likely to contribute essential evidence to demonstrate that virtual solution will not threaten patient safety & privacy.
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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 continent-level data and insights on the Europe virtual clinical trials market , including forecasts for subscribers. This continent databook contains high-level insights into Europe virtual clinical trials market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Europe virtual clinical trials market size, by country, 2017-2030 (US$M)
Europe Virtual Clinical Trials Market Outlook Share, 2022 & 2030 (US$M)
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