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Clinical Trial Management System Market

Increasing Adoption of Electronic Data Capture (EDC) in Clinical Trials Driving Growth of Clinical Trial Management System Market

Clinical Trial Management System Market by Mode of Delivery (Cloud based, Web based and On-premise Clinical Trial Management System)

Clinical Trial Management System Market Outlook (2023 to 2033)

The Global revenue from the Clinical Trial Management System Market was approximately US$ 2.26 Billion in 2022, with the global market expected to grow at a CAGR of 12.6% to reach a valuation of approximately US$ 8.41 Billion by the end of 2033.

Market Size (2023)

US$ 2.26 Billion

Projected Market Value (2033)

US$ 8.41 Billion

Global Market Growth Rate (2023 to 2033)

12.6% CAGR

Market Share of Top 4 Countries

55.7%

As assessed by Persistence Market Research, web based clinical trial management systems will hold a market share of around 58.0% in 2023. Overall, clinical trial management system market sales account for approximately 4.2% revenue share in the global clinical trials market, which was valued at around US$ 53.9 Billion in 2022.

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Sales Analysis of Clinical Trial Management System Market from 2016 to 2022 Vs Market Outlook for 2023 to 2033

The global market recorded a historic CAGR of 11.5% in the last 6 years from 2016 to 2022.

By enhancing the standard of clinical trials and medical education, the use of digital technology helps to accelerate the advancement of medical research. Clinical trials and medical education, which are essential to the expansion of medical research, can be improved significantly by effectively utilizing digital technology.

More specifically, through optimizing the efficiency of participant retention and recruitment, healthcare data gathering, and data analysis in clinical trials, digital technology can progress medical research.

Additionally, by streamlining communications with experiment participants and accelerating data collection, it enhances the analysis's validity. As a result, developments in medical research and digital technology are deeply entwined.

Globally speaking, the COVID-19 pandemic gives many nations a chance to see how crucial it is to use digital technologies to address global challenges. The forecasting and monitoring of cases reported, information exchange, and research collaboration for vaccine development and distribution have all emerged as major global challenges.

Scholars from a variety of fields have consistently focused on the use of digital technologies in medicine. Researchers have mostly looked at how digital technology affects the diagnosis, treatment, and/or surgery of patients in particular fields in the domain of medicine.

Engineering academics have concentrated on data management, security, and sharing, including the interface, incorporation, and synchronization of data.

Thus, owed to the above-mentioned factors, the global market is likely to show high growth over the coming years at a CAGR of 12.6% and reach a global market size of US$ 8.41 Billion by 2033.

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How Can the Global Market Grow?

Real-Time Data Collection and 3D Simulations for Medical Studies

Digital technology adoption offers a reference point for qualitative and quantitatively improving clinical studies. It improves the efficiency of clinical studies in two ways and enables the virtual implementation of numerous clinical trials.

First, by making the crucial components of clinical trials more reliable, the implementation of digital technology enhances the reliability of clinical studies. Digital data collecting, digital data analytics, encompassing data modelling and analysis, and digital recruiting and retention are the three main components of digital clinical trials.

Through the use of digital technology, it is feasible to increase the levels of participation and communication among subjects. Real-time data collection has been made possible by wearable and mobile sensor technologies, and artificial intelligence (AI) can be used for a variety of investigations and modelling.

The second factor is medical education, which is vital for producing highly skilled researchers in the field of medicine who are well versed in their fields. The concepts and methods used in clinical trials are significantly influenced by the state of medical knowledge.

However, there is a disconnect between the information needed to carry out actual clinical trials and the education offered by medical institutions. By simulating reality in a virtual environment, digital twin technology can get beyond this limitation.

Based on repeatable training, such as with a 3D surgery simulation employing haptic technology, students can gain knowledge about therapies and explore a wide range of medical scenarios. The expanding learning opportunities may directly affect how innovative clinical trials become.

These opportunities are set to present the market with a lucrative growth over the forecast period.

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Can the Clinical Trial Management System Market Growth Be Affected in Any Way?

Complexity and High Costs Combined with Low Participation Rates and Lack of Accessibility

Clinical trials are essential to medical research because they give scientists the fundamental knowledge and information they need to assess causation when evaluating the effectiveness and safety of novel treatments and medical equipment as well as prevention and diagnostics.

The identification and recruiting of participants, collecting data, and participant analysis all have inherent inefficiencies that lead to low participation rates in clinical trials, making it difficult to perform clinical trials effectively. The financial cost brought on by the patient's geographical distance from the hospital as well as challenging scheduling conflicts also reduce clinical trial participation rates.

However, the conditions for doing clinical research have only gradually improved over time, making them more difficult and expensive.

Additionally, one of the key institutional contexts has been regarded as market freedom. Through improved monitoring mechanisms, market freedom increases resource accessibility and decreases informational disparity among shareholders and research groups.

However, if a country has an inequitably developed economy, a particular region may experience poor access to medical facilities and information due to a lack of basic digital infrastructure, such as the network or the internet or healthcare facilities. These regions lack the chance to benefit from enhanced medical expertise because they have limited access to fundamental medical information and low participation rates in clinical trials.

Thus, lack of accessibility, high costs of implementation, and lack of participants, will restrict the overall market in terms of expansion, over the forecast period.

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Country-wise Insights

Why is the United States Market Booming?

“Rising Prevalence of Chronic Diseases and Increasing Government Funding for Clinical Trials”

The United States is set to account for around 51.5% share in the global market in 2023.

The prevalence of numerous chronic diseases has increased, increasing the need for clinical trials and research projects to be carried out by the key market players. Clinical trial management systems are employed to manage these projects. The ability of the market to conduct high-quality research projects and clinical trials has been supported by government funding for research programmes, which in turn will increase demand for such systems.

The steadily expanding aging demographic has significantly fuelled the market’s expansion. Along with the steep growth in the average lifespan, the number of individuals suffering from chronic illnesses has significantly increased.

Will Germany Be a Lucrative Market for Clinical Trial Management System?

“Presence of a Large Number of Ongoing Clinical Trials”

Germany is set to hold around 2.3% share of the global market in 2023.

The country is set to expand within the global market as a result of a large number of clinical trials performed within Germany. As per the WHO data in 2020, Germany had around 39,580 number of registration trials. With the rise in the number of clinical trial activities, as well as a high rate of participation, the country is set to expand at a lucrative rate, over the forecast period. Moreover, with the presence of major biopharmaceutical players in the nation, Germany is set to project a propulsive growth over the forecast years.

How is Japan Emerging as a Prominent Market?

“Rising CRO Activities and Changes in Regulatory Laws”

Japan is set to hold a market share of about 2.5% of the global market in 2023.

Over the past ten years, Japan's clinical trials environment has seen a significant transformation. Changes to the Pharmaceutical Affairs Law (PAL), in particular, have made it possible to accept clinical data from overseas and have fuelled the expansion of the nation's clinical trial industry. Businesses engaged in clinical trials have a greater need to be aware of the fast changing environment in order to benefit from its expansion.

International contract research organizations (CROs), which have opened branches in Japan, have contributed significantly to this rise. With the regulatory reforms, pharmaceutical companies are now permitted to use CROs situated in other nations to boost flexibility and efficiency while also reducing overall R&D expenses.

Category-wise Insights

Which Mode of Delivery is Driving Demand within the Global Market?

“Management of Clinical Trial Data and Participant Information On-Site, and Remotely”

Web based clinical trial management system will hold around 58.0% of the total market in 2023.

A software programme used to coordinate clinical trials in clinical research is known as a web-based clinical trial management system (CTMS). This CTMS will assist clinical research investigations carried either within or among different institutions as a unified, consolidated, web-based enterprise resource. It is a software system used by the biotechnology and pharmaceutical sectors to run clinical trials for clinical research. In addition to participant contact information and tracking deadlines and milestones remotely, the system maintains and administers planning, performing, and reporting activities.

Which Type of Systems is Largely Adopted within the Global Market?

“Increased Collaboration among Enterprise Teams, and Data Management”

Enterprise based clinical trial management systems will hold around 71.2% of the total market in 2023.

The main focus of CTMS is operational data. Clinical data is collected digitally using the enterprise-based clinical trial management system. These data, which largely consist of clinical and patient information, are utilised to conduct trials' statistical analyses and decision-making.

The CTMS is an excellent area for study team members to collaborate as well as for teams from other organisations, such as sponsors, CROs, sites, etc. With the knowledge that everyone on the team has access to the most recent data, team members can work together on a single task related to the same investigation, such as study start-up. Collaboration among sponsors, CROs, sites, and other vendors is another way to share the burden of maintaining the accuracy of research monitoring data.

How is the Market set to Gain Traction Based on End Users?

“Rising Disease Burden and Growing CRO Activities”

Pharmaceuticals will hold around 33.4% of the total market share within the global market in 2023.

With the growing global burden of chronic and infectious diseases, the clinical trial management systems play an important role in the management of study constraints, while identifying study metrics important for extended clinical research and final product delivery. Moreover, growing pharmaceutical contract manufacturing activities across the globe have further propelled the segment in terms of market share, globally.

Which Component Provides Traction to the Overall Market?

“Software Solutions and Services for Integrated Site Data Management”

Services will hold around 67% of the total share within the global market in 2023.

From study commencement until study closeout, a clinical trial's operational components are managed using a clinical trial management system (CTMS). A CTMS program is used by study site, site network, healthcare systems, academia healthcare centers, and cancer centers to centralize data on procedures, subjects, staff, finances and billing, among other things. A CTMS software serves as the focal point for all research activities, streamlining study execution and enhancing visibility throughout a site's research portfolio.

Competition Landscape

Key companies in the market hold a strong customer base, and delve into expanding their products and services globally. Expansions through collaborations, mergers, and partnerships are the key strategies adopted by the major industry players. Moreover, product launch activities are also observed as a major trend in the global market.

  • Clinixir Company Limited, as its eClinical platform, adopted oracle’s state-of-the-art clinical research and pharmacovigilance technologies in February 2022. Clinixir adopted the Oracle Health Sciences Clinical One Cloud Service due to its comprehensive, comprehensive technological competences and variety of applications. It has opted Oracle Argus for its safety management along with other Oracle solutions.
  • The trial technology company Medidata released a new app called “myMedidata” in December 2022 with the goal of making it simpler for people to take part in remote clinical trials.

Similarly, the team at Persistence Market Research has tracked recent developments related to companies in the clinical trial management system market, which are available in the full report.

Clinical Trial Management System Market Report Scope

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2016 to 2022

Market Analysis

USD Million for Value

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Turkey
  • GCC
  • North Africa
  • South Africa

Key Market Segments Covered

  • Mode of Delivery
  • End User
  • Systems Type
  • Components
  • Region

Key Companies Covered

  • Oracle Corporation
  • Merge Healthcare Incorporated
  • Medidata Solutions Inc.
  • PAREXEL International Corporation
  • BioClinica
  • MedNet Solutions, Inc.
  • Bio-Optronics, Inc.
  • DSG, Inc.
  • eClinForce, Inc.
  • Forte Research Systems, Inc.

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Segments Covered in Global Clinical Trial Management System Market Research

Mode of Delivery:

  • Cloud based clinical trial management system
  • Web based clinical trial management system
  • On-premise clinical trial management system

End-User:

  • Pharmaceuticals
  • Clinical Research Organizations (CROs)
  • Healthcare Providers

Systems Type:

  • Enterprise based clinical trial management system
  • Site based clinical trial management system

Components:

  • Hardware
  • Services

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

- Companies Covered in This Report -

  • Oracle Corporation
  • Merge Healthcare Incorporated
  • Medidata Solutions Inc.
  • PAREXEL International Corporation
  • BioClinica
  • MedNet Solutions, Inc.
  • Bio-Optronics, Inc.
  • DSG, Inc.
  • eClinForce, Inc.
  • Forte Research Systems, Inc.

- Frequently Asked Questions -

The global market is currently valued at around US$ 2.26 Bn in 2022.

Sales of the market are set to witness growth at a CAGR of 12.6% and be valued at around US$ 8.41 Bn by 2033.

Demand for the global market increased at an 11.5% CAGR from 2016 to 2022.

The U.S., U.K., India, South Korea, and China account for most demand within the market, currently holding around 55.7% market share.

The U.S. is set to account for around 51.5% share in the global market in 2023.

Europe is set to account for nearly 19% share of the global market in 2023.

Japan is set to hold a market share of about 2.5% of the global market in 2023.

Australia market is set to hold a share of around 0.4% in the global market in 2023.

Germany is set to hold around 2.3% share of the global market in 2023.

The web based clinical trial management segment will hold around 58.0% of the share within the global market in 2023.

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