Global Virtual Clinical Trials Market estimated close to $8 Billion (2020), is growing at above 10% CAGR
A virtual clinical trial (also known as remote/decentralized clinical trials) refers to digitally empowered clinical trial processes. The market growth is driven by growing adoption of virtual trials following outbreak of COVID-19 pandemic Virtual trials enable easy Patient Enrolment and Remote Monitoring Virtual trials are based on telemedicine and use dedicated apps for patient engagement and tracking. They greatly reduce the financial and time burdens. In addition, use of AI technologies can help synthesize and analyze ever-expanding data and speed up the process. Such benefits are increasingly drawing interest of life science companies/clinical trials sponsors into virtual clinical trials. “AI likely to play important role in virtual clinical trials. Conversational AI for natural language processing (NLP) and image-based AI will increasingly become part of virtual trials. Conversational AI help maintain the patient-clinician engagement while imaging AI to play key role i...