Global Decentralized Clinical Trial (DCT) Growth Opportunities

Global Decentralized Clinical Trial (DCT) Growth Opportunities

Strategic Partnering and M&A Activity in At-home Monitoring Solutions Gain Momentum

RELEASE DATE
06-Jul-2021
REGION
North America
Deliverable Type
Market Research
Research Code: PBBD-01-00-00-00
SKU: HC03430-NA-MT_25562
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$2,450.00
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SKU
HC03430-NA-MT_25562

Global Decentralized Clinical Trial (DCT) Growth Opportunities
Published on: 06-Jul-2021 | SKU: HC03430-NA-MT_25562

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Frost & Sullivan presents post–COVID-19 growth opportunities and strategic imperatives for the global decentralized clinical trials (DCT) market, covering the market’s maturity, key participants, adoption drivers and restraints, and recent mergers and acquisitions. The report identifies initiatives by major global contract research organizations (CROs) toward DCT adoption; estimates growth patterns for the next 5 years based on detailed analyses of drug and biologics interventional trials, COVID-19–triggered adoption of DCT by sponsors and CROs to continue the disrupted trial operations; and the expected cost-benefit associated with the reduction in site-management burden. The analysis includes regional drivers and challenges of adoption based on select socio-economic and industry parameters.

The DCT market was in a nascent stage prior to the COVID-19 pandemic. The accelerated adoption witnessed during the pandemic outbreak in 2020 was mainly due to restricted mobility of site investigators, clinical research associates, and patients to participate in the trials. To ensure patient safety, most sponsors and CROs adopted digital tools to support trial operations that included telemedicine, remote source data verification, and sensor/mobile technology-enabled direct data-capture solutions. Recent initiatives conducted by the Decentralized Trials & Research Alliance have increased awareness of DCTs globally and catapulted their adoption, especially in North America. The evolving regulations supporting the ease of implementing technologies that enable DCT delivery in Europe and other regions will drive adoption.

However, adoption of decentralized trials is challenged by concerns about data privacy, scalability, and seamless implementation across different continents. Need has increased to support decentralized trials through cloud-based platform solutions that are fit to purpose. CROs building decentralized trial capabilities are partnering with technology vendors to overcome these challenges. Online training modules for patients and secure technology for at-home trial monitoring through devices and sensors have been driving the adoption of decentralized trials after the pandemic. Home health services patients with physical disabilities and restricted access due to location can promote retention in clinical trials. Partnering with home health service providers supported by nurses trained in use of portable equipment will facilitate smooth DCT implementation. Additionally, CROs are focused on innovating trial enrollment and patient engagement strategies by exploring multiple channels, such as use of advocacy groups, social media, and online physician referral systems.

Author: Meghna Hiren Thakkar

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Global Decentralized Clinical Trial (DCT) Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Definition: Evolving Clinical Trial Models

Scope of Analysis and Segmentation

COVID-19 Impact on the Clinical Trials Industry

Key Growth Metrics for DCT Market

Vendor Ecosystem for DCT Market

Competitive Trends

Growth Drivers for DCT Market

Growth Restraints for DCT Market

Regulatory Trends, Global DCT Market

Business Model Trend, Global DCT Market

Partnership Trends, Global DCT Market

Key Investments Trends, Global DCT Market

M&A Trends, Global DCT Market

M&A Trends, Global DCT Market (continued)

Forecast Assumptions, DCT Market

Revenue Forecast, DCT Market

Forecast Discussion, Global DCT Market

Forecast Discussion, Global DCT Market (continued)

Revenue Forecast by Region, DCT Market

Revenue Forecast Analysis by Region, DCT Market

Revenue Forecast Analysis by Region, DCT Market (continued)

Growth Opportunity 1: Cloud-based Platform to Achieve Scalability and Workflow Standardization, 2021

Growth Opportunity 1: Cloud-based Platform to Achieve Scalability and Workflow Standardization, 2021 (continued)

Growth Opportunity 2: At-home Patient Monitoring for Infectious Disease Trials, 2021

Growth Opportunity 2: At-home Patient Monitoring for Infectious Disease Trials, 2021 (continued)

Growth Opportunity 3: Omni-channel Recruitment to Expand Patient Reach and Ensure Diversity, 2021

Growth Opportunity 3: Omni-channel Recruitment to Expand Patient Reach and Ensure Diversity, 2021 (continued)

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Frost & Sullivan presents post–COVID-19 growth opportunities and strategic imperatives for the global decentralized clinical trials (DCT) market, covering the markets maturity, key participants, adoption drivers and restraints, and recent mergers and acquisitions. The report identifies initiatives by major global contract research organizations (CROs) toward DCT adoption; estimates growth patterns for the next 5 years based on detailed analyses of drug and biologics interventional trials, COVID-19–triggered adoption of DCT by sponsors and CROs to continue the disrupted trial operations; and the expected cost-benefit associated with the reduction in site-management burden. The analysis includes regional drivers and challenges of adoption based on select socio-economic and industry parameters. The DCT market was in a nascent stage prior to the COVID-19 pandemic. The accelerated adoption witnessed during the pandemic outbreak in 2020 was mainly due to restricted mobility of site investigators, clinical research associates, and patients to participate in the trials. To ensure patient safety, most sponsors and CROs adopted digital tools to support trial operations that included telemedicine, remote source data verification, and sensor/mobile technology-enabled direct data-capture solutions. Recent initiatives conducted by the Decentralized Trials & Research Alliance have increased awareness of DCTs globally and catapulted their adoption, especially in North America. The evolving regulations supporting the ease of implementing technologies that enable DCT delivery in Europe and other regions will drive adoption. However, adoption of decentralized trials is challenged by concerns about data privacy, scalability, and seamless implementation across different continents. Need has increased to support decentralized trials through cloud-based platform solutions that are fit to purpose. CROs building decentralized trial capabilities are partnering with technology vendors to overcome these challenges. Online training modules for patients and secure technology for at-home trial monitoring through devices and sensors have been driving the adoption of decentralized trials after the pandemic. Home health services patients with physical disabilities and restricted access due to location can promote retention in clinical trials. Partnering with home health service providers supported by nurses trained in use of portable equipment will facilitate smooth DCT implementation. Additionally, CROs are focused on innovating trial enrollment and patient engagement strategies by exploring multiple channels, such as use of advocacy groups, social media, and online physician referral systems. Author: Meghna Hiren Thakkar
More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Meghna Thakkar
Industries Healthcare
WIP Number PBBD-01-00-00-00
Is Prebook No
GPS Codes 9600-B1,9571-B1,9568-B1,9611-B1