Saudi Arabia Virtual Clinical Trials Market Size & Outlook
Saudi Arabia virtual clinical trials market, 2017-2030 (US$M)
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Saudi Arabia virtual clinical trials market highlights
- The Saudi Arabia virtual clinical trials market generated a revenue of USD 51.9 million in 2022 and is expected to reach USD 83.0 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 6% 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 51.9 million |
| Market revenue in 2030 | USD 83.0 million |
| Growth rate | 6% (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, Saudi Arabia accounted for 0.6% 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 Middle East & Africa, Saudi Arabia virtual clinical trials market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 28.0 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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Saudi Arabia 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 46.82% in 2022. Horizon Databook has segmented the Saudi Arabia virtual clinical trials market based on interventional, observational, expanded access covering the revenue growth of each sub-segment from 2017 to 2030.
Rising prevalence of cancer is one of the important factors responsible for the market growth. According to WHO, around 27,885 cancer cases were diagnosed in Saudi Arabia in 2020. There was no major difference in cancer prevalence in urban and rural areas at 6 years, 12 years, or 15 years.
Thus, the demand for oncology virtual clinical trials is increasing in this country, which is expected to boost the market over the forecast period. A lot of clinical trial work was halted due to the current pandemic situation.
As of 3rd February 2021, there are over 368,639 coronavirus cases and over 6,383 deaths have occurred due to the disease in Saudi Arabia. Virtual clinical trials offer a safe and cost-effective route to complete existing clinical trials in the country as well as initiate new ones.
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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 Saudi Arabia virtual clinical trials market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia virtual clinical trials market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia virtual clinical trials market size, by study design, 2017-2030 (US$M)
Saudi Arabia Virtual Clinical Trials Market Outlook Share, 2022 & 2030 (US$M)
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