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Virtual Clinical Trials Market Report Scope & Overview

The Virtual Clinical Trials Market Size was valued at USD 8.39 billion in 2023, and is projected to reach USD 13.17 billion by 2031 growing at a CAGR of 5.8% from 2024 to 2031.

The virtual clinical trial market is experiencing significant growth due to its potential to streamline the drug development process and improve patient access to research. Virtual clinical trials are transforming drug development by offering faster timelines cutting down on the traditional 15 year wait with high failure rates and improved access for patients.

Virtual Clinical Trials Market Revenue Analysis

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Remote data collection for certain conditions and better data management through digital tools streamline the process. Additionally virtual trials break down geographical barriers allowing for wider and more diverse participation think global recruitment for new antiviral drugs. On the cost side digital solutions reduce administrative burdens making virtual trials a more attractive option. With the rise of new drug development and lab digitalization the interventional segment representing 77% of trials on ClinicalTrials.gov which is expected to be dominate the virtual clinical trial market. The virtual clinical trials market is in a unique position when it comes to service expansion. While there's a strong push to offer new services and features achieving this is moderately impacted by the need for standardization. This market thrives on constantly evolving technologies but for these tools and platforms to work together seamlessly a certain level of common ground needs to be established. In simpler terms the industry is prioritizing ensuring everything works well together before a massive explosion of new services floods the market.

MARKET DYNAMICS

KEY DRIVERS:

  • Mobile health platforms are fueling the virtual trial boom by offering convenience for patients and richer data collection

One of the biggest advantages of mobile health platforms in virtual clinical trials is their ability to overcome geographical barriers and limitations. Patients no longer need to make frequent trips to a physical clinic, which can be a major hurdle for those living far away or with mobility issues.

RESTRAINE:

  • Unclear rules on data privacy and how to run virtual trials are holding back the market's growth

The flood of information from wearables, apps and patient entries strains current data management systems. Sponsors  worry about compliance risks due to unclear regulations on handling this complex data landscape. This hesitation to embrace the technology due to data challenges is a hurdle for the virtual clinical trial market.

OPPORTUNITY:

  • The raising demand for online clinical research is creating fertile ground for the virtual clinical trial market to flourish

As the virtual clinical rial market expands it fosters innovation in specialized technologies. We can expect to see advancements in wearable sensors telemedicine platforms and AI-powered data analysis tools all designed to further refine and optimize virtual trial conduct. This version emphasizes the two-way relationship between the market growth and technological development.

CHALLENGES:

  • The evolving nature of regulations on data privacy, security, and how to conduct virtual trials is a major roadblock for the market

Virtual trials drown sponsors in data from wearables, apps, and diaries. This data overload strains current systems, making analysis difficult and hindering clear results.

IMPACT OF RUSSIA UKRAINE WAR

The Russia-Ukraine war impacts on the virtual clinical trials in the region. Ukraine was a key player boasting a significant number of research sites and patients. Now the war has halted new recruitment and thrown ongoing trials into disarray. Many patients enrolled in these trials have been displaced by the conflict making it impossible for them to continue participating. The war has also caused havoc with logistics disrupting supply chains and making it difficult to deliver essential trial drugs and monitor patients remotely.

IMPACT OF ECONOMIC SLOWDOWN

An economic slowdown could cause a funding crush for drug companies as they tighten their belts spending on research and development (R&D) might diminish. This could lead to fewer virtual trials getting the green light hindering the growth of the market. During an economic downturn the cost-effectiveness of virtual trials stemming from fewer visits and simpler logistics could become a major selling point for budget-conscious sponsors. In an economic downturn may leads sponsors to focus on essential drugs or those with high chances of success. Virtual trials with their adaptability and broader reach could be ideal for this kind of targeted research.

KEY MARKET SEGMENTS

By Study Type:

  • Interventional

  • Observational

  • Others

Medical research studies come in two main flavors which are interventional and observational. Interventional studies test new treatments like drugs or devices to see if they're safe and effective. These are the ones with three phases of testing. Observational studies on the other hand don't introduce new treatments. They simply follow people and track their health outcomes with their current treatments. There are also compassionate use studies which provide early access to unapproved treatments for patients with serious conditions who have no other options.

Virtual-Clinical-Trails-Market-By-Study-Type

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 By Phase:

  • Phase 1

  • Phase 2

  • Phase 3

  • Phase 4

new medical treatments must endure a rigorous multi-stage evaluation process known as clinical trials. Phase 1 tests a treatment's safety in humans at varying doses. Phase 2 explores its effectiveness in managing symptoms and relieving pain for a wider group. If promising phase 3 compares it to existing options in a larger study to confirm its edge over the current standard. Finally phase 4 monitors the long-term safety and effectiveness of approved treatments once they hit the market. This ensures patients receive safe and effective therapies.

By Indication:

  • Oncology
  • Cardiovascular
  • Immunology
  • Gastrointestinal
  •  Respirator
  •  Endocrinology
  • Ophthalmology

Cancer treatments are leading the way in virtual clinical trials and this trend is expected to continue. This is because cancer is becoming more common worldwide and there are more trials happening to fight it.  The pandemic highlighted the need for virtual trials especially for vulnerable cancer patients. Another reason for the rise of virtual trials in oncology is the challenge of recruiting enough participants for traditional trials. Since virtual trials can reach a wider range of people they're expected to be a game-changer in getting new cancer treatments to patients faster.

REGIONAL ANALYSIS

The North America dominates the virtual clinical trial market by large amount of  investment from both public and private players as well as strong industry leaders developing advanced solutions. North America Capturing over 50%  of market volume during forecast period. Government support and a booming R&D sector further solidify their lead. Even communication with patients is increasingly digital in this region.

The Europe is poised to be a major player in virtual clinical trials grabbing the second-largest market share. This momentum is driven by a perfect storm growing acceptance of digital technology a large patient pool and rising awareness of virtual trials among key players like investigators, sponsors and research organizations. Meanwhile the Asia-Pacific is catching up fast driven by a surge in new drug trials and rapid lab digitalization.

Virtual-Clinical-Trails-Market-By-Region

REGIONAL COVERAGE:

North America

  • US

  • Canada

  • Mexico

Europe

  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America

KEY PLAYERS:

Major key players are as Clinical Ink, Inc., Dassault Systemes SE, Icon plc, Laboratory Corporation of America Holdings, IQVIA Holdings, Inc., Medable, Inc., Parexel International Corporation, Oracle Corporation, Medpace Holdings, Inc., Wuxi AppTech and Other Players.

Dassault Systemes SE-Company Financial Analysis

Company Landscape Analysis

 

RECENT TRENDS

  • In July 2023: Signant Health bought DSG to offer a one-stop shop for digital clinical trials. This combined package includes software, data analysis, and logistics, making it easier to run all types of trials entirely online.

  • In June 2023: Medable launched a toolkit to streamline approvals for virtual trials by ethics committees. This simplifies the process, making virtual trials faster and more patient-friendly.

Virtual Clinical Trials Market Report Scope:

Report Attributes Details
Market Size in 2023 US$ 8.39 Billion
Market Size by 2031 US$ 13.17 Billion
CAGR CAGR of 5.8% From 2024 to 2031
Base Year 2023
Forecast Period 2024-2031
Historical Data 2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Study Type (Interventional, Observational, Others)
• By Phase (Phase 1, Phase 2, Phase 3, Phase 4)
• By Indication (Oncology, Cardiovascular, Immunology, Gastrointestinal, Respiratory, Endocrinology, Ophthalmology)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Company Profiles Clinical Ink, Inc., Dassault Systemes SE, Icon plc, Laboratory Corporation of America Holdings, IQVIA Holdings, Inc., Medable, Inc., Parexel International Corporation, Oracle Corporation, Medpace Holdings, Inc., Wuxi AppTech.
Key Drivers • The incorporation of a mobile health platform
• As a catalyst for virtual trials, COVID-19
RESTRAINTS • Inadequate data security

Frequently Asked Questions

Ans: Virtual Clinical Trials Market size was USD 8.39 billion in 2023 and is expected to Reach USD 13.17 billion by 2031.

Ans. The biggest revenue share came from the oncology area, which led the market for virtual/decentralized clinical trials.

Ans. Key drivers of the Virtual Clinical Trials Market is the incorporation of a mobile health platform, and as a catalyst for virtual trials, COVID-19.

Ans. Clinical Ink, Inc., Dassault Systemes SE, Icon plc, Laboratory Corporation of America Holdings, IQVIA Holdings, Inc are the key plyer of Virtual Clinical Trials Market. 

Ans: The Virtual Clinical Trials Market is expected to grow at a CAGR of 5.8%.

TABLE OF CONTENTS

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges

5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India

6. Value Chain Analysis

7. Porter’s 5 Forces Model

8. Pest Analysis

9. Virtual Clinical Trials Market Segmentation, By Study Type
9.1 Introduction
9.2 Trend Analysis
9.3 Interventional
9.4 Observational
9.5 Others

10. Virtual Clinical Trials Market Segmentation, By Phase
10.1 Introduction
10.2 Trend Analysis
10.3 Phase 1
10.4 Phase 2
10.5 Phase 3
 10.6 Phase 4
 
11. Virtual Clinical Trials Market Segmentation, By Indication
11.1 Introduction
11.2 Trend Analysis
11.3Oncology,
11.4 Cardiovascular
11.5 Immunology
11.6 Gastrointestinal
11.7 Respiratory
11.8 Endocrinology
11.9 Ophthalmology

12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 Trend Analysis
12.2.2 North America Virtual Clinical Trials Market by Country
12.2.3 North America Virtual Clinical Trials Market By Study Type
12.2.4 North America Virtual Clinical Trials Market By Phase
12.2.5 North America Virtual Clinical Trials Market By Indication
12.2.6 USA
12.2.6.1 USA Virtual Clinical Trials Market By Study Type
12.2.6.2 USA Virtual Clinical Trials Market By Phase
12.2.6.3 USA Virtual Clinical Trials Market By Indication
12.2.7 Canada
12.2.7.1 Canada Virtual Clinical Trials Market By Study Type
12.2.7.2 Canada Virtual Clinical Trials Market By Phase
12.2.7.3 Canada Virtual Clinical Trials Market By Indication
12.2.8 Mexico
12.2.8.1 Mexico Virtual Clinical Trials Market By Study Type
12.2.8.2 Mexico Virtual Clinical Trials Market By Phase
12.2.8.3 Mexico Virtual Clinical Trials Market By Indication
12.3 Europe
12.3.1 Trend Analysis
12.3.2 Eastern Europe
12.3.2.1 Eastern Europe Virtual Clinical Trials Market by Country
12.3.2.2 Eastern Europe Virtual Clinical Trials Market By Study Type
12.3.2.3 Eastern Europe Virtual Clinical Trials Market By Phase
12.3.2.4 Eastern Europe Virtual Clinical Trials Market By Indication
12.3.2.5 Poland
12.3.2.5.1 Poland Virtual Clinical Trials Market By Study Type
12.3.2.5.2 Poland Virtual Clinical Trials Market By Phase
12.3.2.5.3 Poland Virtual Clinical Trials Market By Indication
12.3.2.6 Romania
12.3.2.6.1 Romania Virtual Clinical Trials Market By Study Type
12.3.2.6.2 Romania Virtual Clinical Trials Market By Phase
12.3.2.6.4 Romania Virtual Clinical Trials Market By Indication
12.3.2.7 Hungary
12.3.2.7.1 Hungary Virtual Clinical Trials Market By Study Type
12.3.2.7.2 Hungary Virtual Clinical Trials Market By Phase
12.3.2.7.3 Hungary Virtual Clinical Trials Market By Indication
12.3.2.8 Turkey
12.3.2.8.1 Turkey Virtual Clinical Trials Market By Study Type
12.3.2.8.2 Turkey Virtual Clinical Trials Market By Phase
12.3.2.8.3 Turkey Virtual Clinical Trials Market By Indication
12.3.2.9 Rest of Eastern Europe
12.3.2.9.1 Rest of Eastern Europe Virtual Clinical Trials Market By Study Type
12.3.2.9.2 Rest of Eastern Europe Virtual Clinical Trials Market By Phase
12.3.2.9.3 Rest of Eastern Europe Virtual Clinical Trials Market By Indication
12.3.3 Western Europe
12.3.3.1 Western Europe Virtual Clinical Trials Market by Country
12.3.3.2 Western Europe Virtual Clinical Trials Market By Study Type
12.3.3.3 Western Europe Virtual Clinical Trials Market By Phase
12.3.3.4 Western Europe Virtual Clinical Trials Market By Indication
12.3.3.5 Germany
12.3.3.5.1 Germany Virtual Clinical Trials Market By Study Type
12.3.3.5.2 Germany Virtual Clinical Trials Market By Phase
12.3.3.5.3 Germany Virtual Clinical Trials Market By Indication
12.3.3.6 France
12.3.3.6.1 France Virtual Clinical Trials Market By Study Type
12.3.3.6.2 France Virtual Clinical Trials Market By Phase
12.3.3.6.3 France Virtual Clinical Trials Market By Indication
12.3.3.7 UK
12.3.3.7.1 UK Virtual Clinical Trials Market By Study Type
12.3.3.7.2 UK Virtual Clinical Trials Market By Phase
12.3.3.7.3 UK Virtual Clinical Trials Market By Indication
12.3.3.8 Italy
12.3.3.8.1 Italy Virtual Clinical Trials Market By Study Type
12.3.3.8.2 Italy Virtual Clinical Trials Market By Phase
12.3.3.8.3 Italy Virtual Clinical Trials Market By Indication
12.3.3.9 Spain
12.3.3.9.1 Spain Virtual Clinical Trials Market By Study Type
12.3.3.9.2 Spain Virtual Clinical Trials Market By Phase
12.3.3.9.3 Spain Virtual Clinical Trials Market By Indication
12.3.3.10 Netherlands
12.3.3.10.1 Netherlands Virtual Clinical Trials Market By Study Type
12.3.3.10.2 Netherlands Virtual Clinical Trials Market By Phase
12.3.3.10.3 Netherlands Virtual Clinical Trials Market By Indication
12.3.3.11 Switzerland
12.3.3.11.1 Switzerland Virtual Clinical Trials Market By Study Type
12.3.3.11.2 Switzerland Virtual Clinical Trials Market By Phase
12.3.3.11.3 Switzerland Virtual Clinical Trials Market By Indication
12.3.3.1.12 Austria
12.3.3.12.1 Austria Virtual Clinical Trials Market By Study Type
12.3.3.12.2 Austria Virtual Clinical Trials Market By Phase
12.3.3.12.3 Austria Virtual Clinical Trials Market By Indication
12.3.3.13 Rest of Western Europe
12.3.3.13.1 Rest of Western Europe Virtual Clinical Trials Market By Study Type
12.3.3.13.2 Rest of Western Europe Virtual Clinical Trials Market By Phase
12.3.3.13.3 Rest of Western Europe Virtual Clinical Trials Market By Indication
12.4 Asia-Pacific
12.4.1 Trend Analysis
12.4.2 Asia-Pacific Virtual Clinical Trials Market by Country
12.4.3 Asia-Pacific Virtual Clinical Trials Market By Study Type
12.4.4 Asia-Pacific Virtual Clinical Trials Market By Phase
12.4.5 Asia-Pacific Virtual Clinical Trials Market By Indication
12.4.6 China
12.4.6.1 China Virtual Clinical Trials Market By Study Type
12.4.6.2 China Virtual Clinical Trials Market By Phase
12.4.6.3 China Virtual Clinical Trials Market By Indication
12.4.7 India
12.4.7.1 India Virtual Clinical Trials Market By Study Type
12.4.7.2 India Virtual Clinical Trials Market By Phase
12.4.7.3 India Virtual Clinical Trials Market By Indication
12.4.8 Japan
12.4.8.1 Japan Virtual Clinical Trials Market By Study Type
12.4.8.2 Japan Virtual Clinical Trials Market By Phase
12.4.8.3 Japan Virtual Clinical Trials Market By Indication
12.4.9 South Korea
12.4.9.1 South Korea Virtual Clinical Trials Market By Study Type
12.4.9.2 South Korea Virtual Clinical Trials Market By Phase
12.4.9.3 South Korea Virtual Clinical Trials Market By Indication
12.4.10 Vietnam
12.4.10.1 Vietnam Virtual Clinical Trials Market By Study Type
12.4.10.2 Vietnam Virtual Clinical Trials Market By Phase
12.4.10.3 Vietnam Virtual Clinical Trials Market By Indication
12.4.11 Singapore
12.4.11.1 Singapore Virtual Clinical Trials Market By Study Type
12.4.11.2 Singapore Virtual Clinical Trials Market By Phase
12.4.11.3 Singapore Virtual Clinical Trials Market By Indication
12.4.12 Australia
12.4.12.1 Australia Virtual Clinical Trials Market By Study Type
12.4.12.2 Australia Virtual Clinical Trials Market By Phase
12.4.12.3 Australia Virtual Clinical Trials Market By Indication
12.4.13 Rest of Asia-Pacific
12.4.13.1 Rest of Asia-Pacific Virtual Clinical Trials Market By Study Type
12.4.13.2 Rest of Asia-Pacific Virtual Clinical Trials Market By Phase
12.4.13.3 Rest of Asia-Pacific Virtual Clinical Trials Market By Indication
12.5 Middle East & Africa
12.5.1 Trend Analysis
12.5.2 Middle East
12.5.2.1 Middle East Virtual Clinical Trials Market by Country
12.5.2.2 Middle East Virtual Clinical Trials Market By Study Type
12.5.2.3 Middle East Virtual Clinical Trials Market By Phase
12.5.2.4 Middle East Virtual Clinical Trials Market By Indication
12.5.2.5 UAE
12.5.2.5.1 UAE Virtual Clinical Trials Market By Study Type
12.5.2.5.2 UAE Virtual Clinical Trials Market By Phase
12.5.2.5.3 UAE Virtual Clinical Trials Market By Indication
12.5.2.6 Egypt
12.5.2.6.1 Egypt Virtual Clinical Trials Market By Study Type
12.5.2.6.2 Egypt Virtual Clinical Trials Market By Phase
12.5.2.6.3 Egypt Virtual Clinical Trials Market By Indication
12.5.2.7 Saudi Arabia
12.5.2.7.1 Saudi Arabia Virtual Clinical Trials Market By Study Type
12.5.2.7.2 Saudi Arabia Virtual Clinical Trials Market By Phase
12.5.2.7.3 Saudi Arabia Virtual Clinical Trials Market By Indication
12.5.2.8 Qatar
12.5.2.8.1 Qatar Virtual Clinical Trials Market By Study Type
12.5.2.8.2 Qatar Virtual Clinical Trials Market By Phase
12.5.2.8.3 Qatar Virtual Clinical Trials Market By Indication
12.5.2.9 Rest of Middle East
12.5.2.9.1 Rest of Middle East Virtual Clinical Trials Market By Study Type
12.5.2.9.2 Rest of Middle East Virtual Clinical Trials Market By Phase
12.5.2.9.3 Rest of Middle East Virtual Clinical Trials Market By Indication
12.5.3 Africa
12.5.3.1 Africa Virtual Clinical Trials Market by Country
12.5.3.2 Africa Virtual Clinical Trials Market By Study Type
12.5.3.3 Africa Virtual Clinical Trials Market By Phase
12.5.3.4 Africa Virtual Clinical Trials Market By Indication
12.5.3.5 Nigeria
12.5.3.5.1 Nigeria Virtual Clinical Trials Market By Study Type
12.5.3.5.2 Nigeria Virtual Clinical Trials Market By Phase
12.5.3.5.3 Nigeria Virtual Clinical Trials Market By Indication
12.5.3.6 South Africa
12.5.3.6.1 South Africa Virtual Clinical Trials Market By Study Type
12.5.3.6.2 South Africa Virtual Clinical Trials Market By Phase
12.5.3.6.3 South Africa Virtual Clinical Trials Market By Indication
12.5.3.7 Rest of Africa
12.5.3.7.1 Rest of Africa Virtual Clinical Trials Market By Study Type
12.5.3.7.2 Rest of Africa Virtual Clinical Trials Market By Phase
12.5.3.7.3 Rest of Africa Virtual Clinical Trials Market By Indication
12.6 Latin America
12.6.1 Trend Analysis
12.6.2 Latin America Virtual Clinical Trials Market by country
12.6.3 Latin America Virtual Clinical Trials Market By Study Type
12.6.4 Latin America Virtual Clinical Trials Market By Phase
12.6.5 Latin America Virtual Clinical Trials Market By Indication
12.6.6 Brazil
12.6.6.1 Brazil Virtual Clinical Trials Market By Study Type
12.6.6.2 Brazil Virtual Clinical Trials Market By Phase
12.6.6.3 Brazil Virtual Clinical Trials Market By Indication
12.6.7 Argentina
12.6.7.1 Argentina Virtual Clinical Trials Market By Study Type
12.6.7.2 Argentina Virtual Clinical Trials Market By Phase
12.6.7.3 Argentina Virtual Clinical Trials Market By Indication
12.6.8 Colombia
12.6.8.1 Colombia Virtual Clinical Trials Market By Study Type
12.6.8.2 Colombia Virtual Clinical Trials Market By Phase
12.6.8.3 Colombia Virtual Clinical Trials Market By Indication
12.6.9 Rest of Latin America
12.6.9.1 Rest of Latin America Virtual Clinical Trials Market By Study Type
12.6.9.2 Rest of Latin America Virtual Clinical Trials Market By Phase
12.6.9.3 Rest of Latin America Virtual Clinical Trials Market By Indication

13. Company Profiles
13..1 Clinical Ink
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Dassault Systemes SE 
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Icon plc
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Laboratory Corporation of America Holdings
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 IQVIA Holdings
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Medable, Inc
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Parexel International Corporation
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Oracle Corporation
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Medpace Holdings
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Wuxi AppTech
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
13.11 Halo Health Systems
13.11.1 Company Overview
13.11.2 Financial
13.11.3 Products/ Services Offered
13.11.4 SWOT Analysis
13.11.5 The SNS View

14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions

15. Use Case and Best Practices

16. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Data Bank Validation

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.

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