Decentralized Clinical Trials (DCTs) Market Size, Trends, and Future Growth

The global decentralized clinical trials (DCTs) market was valued at approximately USD 8.29 billion in 2023 and is expected to reach USD 38.2 billion by 2034, with a compound annual growth rate (CAGR) of 14.9% from 2024 to 2034. The growing demand for DCTs is driven by their ability to facilitate research without necessitating the physical presence of patients or volunteers. This aspect becomes increasingly significant as the number of clinical trials continues to rise.

Download statistics of this report @ https://www.towardshealthcare.com/download-statistics/5264

Decentralized Clinical Trials (DCTs) Market Trends

• ncreased Adoption of Technology: The use of digital health technologies, such as telemedicine, wearables, and mobile health applications, is accelerating DCT adoption by improving patient engagement and data collection.
• Regulatory Support: Regulatory agencies, including the FDA and EMA, are increasingly endorsing decentralized methodologies, encouraging sponsors to adopt flexible trial designs that facilitate remote participation.
• Patient-Centric Approaches: DCTs focus on enhancing patient convenience and experience, reducing the burden of travel and time commitment, leading to increased patient recruitment and retention.
• Diverse Therapeutic Areas: DCTs are being implemented across various therapeutic areas, including oncology, neurology, and rare diseases, as they can effectively accommodate diverse patient populations.
• Data Security and Privacy Concerns: With the reliance on digital technologies, ensuring data security and compliance with regulations like GDPR and HIPAA is critical, prompting the development of robust cybersecurity measures.
• Cost Efficiency: DCTs can reduce operational costs by minimizing site-related expenses, travel, and time, appealing to sponsors aiming for more efficient trial management.
• Collaboration and Partnerships: The growth of DCTs is fostering collaborations between pharmaceutical companies, technology providers, and clinical research organizations to enhance trial execution and data analytics.
• Global Reach: DCTs enable access to a broader patient population, facilitating trials in remote or underserved areas, which is especially valuable in the context of global health challenges.
• Focus on Real-World Evidence: DCTs are increasingly leveraged to generate real-world evidence, aiding regulatory submissions and providing insights into treatment effectiveness and safety in diverse populations.

Recent Developments

• In August 2024, the industry-leading clinical trial technology platform, Medable Inc., today unveiled Medable Studio, an all-in-one tool for setting up, translating, validating, and introducing eCOA Plus (eCOA, eConsent, Televisit, and Sensors) into clinical trials.
• In July 2024, Walgreens will receive $25 million in Project NextGen money from the Administration for Strategic Preparedness and Response’s Biomedical Advanced Research and Development Authority (BARDA) to undertake a decentralized clinical trial, with the goal of expanding access to clinical trials.
• In February 2024, Syneos Health®, a premier fully integrated biopharmaceutical solutions company, launched a decentralized clinical trial (DCT) site network to encourage suitable DCT uptake and facilitate the provision of high-quality DCTs and digital health technology solutions.

Top Companies in the Decentralized Clinical Trials (DCTs) Market

• IQVIA
• Labcorp
• ICON
• Covance
• CRF Health
• Parexel
• LEO Innovation Lab
• Thermo Fisher
• Huma
• Oracle
• Medidata
• PRA Health Sciences
• Clinical Ink
• Signant Health
• Medable
• Science 37

Discover our detailed Table of Contents (TOC) for the Industry, providing a thorough examination of market segments, material, emerging technologies and key trends. Our TOC offers a structured analysis of market dynamics, emerging innovations, and regional dynamics to guide your strategic decisions in this rapidly evolving healthcare field – https://www.towardshealthcare.com/table-of-content/decentralized-clinical-trials-dcts-market-sizing

To own our research study instantly, Click here @ https://www.towardshealthcare.com/price/5264

You can place an order or ask any questions, please feel free to contact us at sales@towardshealthcare.com

About Us

Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations. We are a global strategy consulting firm that assists business leaders in gaining a competitive edge and accelerating growth. We are a provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations.

Visit Dental Specifics: https://www.towardsdental.com

Explore the comprehensive statistics and insights on healthcare industry data and its associated segmentation: Get a Subscription

For Latest Update Follow Us: https://www.linkedin.com/company/towards-healthcare