The global Clinical Trial Data Management Software market is expected to grow at a CAGR of around 8.1% over the forecast period 2021 to 2030 and expected to reach the market value of around US$ 7.2 billion by 2030.
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Clinical trial data management is the process of handling data generated during the clinical trials of drugs, vaccines, etc. The main use of clinical trial data management software is to manage, produce, and maintain quality data involved in a clinical trial, including planning, preparation, performance, and reporting. In this report, we analyze the challenges end users face in acquiring the right clinical trial data management software that can cope with the rapidly changing world. The report also highlights the total revenue generated through the sale of clinical trial data management software across various key regions worldwide.
The global clinical trial data management software market is currently driven by growing demand from pharmaceutical & biomedical companies to reduce operational costs and failures of clinical trials
Use of Digital Technologies in Clinical Research Driving Global Market
Technology plays a critical role in drug development. Rising innovation in technologies enables end users to adopt technologically advanced clinical trial data management software. End users are currently facing some challenges such as failure during patient enrollment, long and delayed trial processes, and low clinical trial success rate. Demand for clinical trial data management software is increasing in pharmaceutical and biotech companies, and medical device companies to overcome these challenges. Increasing spending by pharmaceutical companies on Artificial Intelligence, Blockchain, and Big Data analytics are the key factors boosting huge investments in clinical trial data management software by end users.
Increase in clinical research outsourcing
Outsourcing of clinical trial activities in different regions of the world is a key driver of the clinical trial data management software market. For instance, in Asia Pacific, outsourcing of clinical trials has increased due to the rapid growth of the pharmaceutical market, which in turn is projected to fuel the demand for clinical trial data management software during the forecast period.
Key Challenges
- High initial cost of on-premises solutions of clinical trial data management software is expected to challenge the market growth in the near future
- Longer approval time taken for clinical trial processes, data security of clinical data, and strict regulations to enroll patients for clinical trials is expected to hamper the growth of the global clinical trial data management software during the forecast period
Report Highlights
Based on component, the clinical trial data management software market has been classified into software and services. Software segment dominated the global clinical trial data management software market in 2020 and is expected to maintain its dominance during the forecast period. The software segment has been sub-classified into on-premises/enterprise and on demand Software as a Service (SaaS). Services has been sub-classified into professional and managed.
Based on end user, the clinical trial data management software market has been categorized into pharmaceutical & biotech companies, medical device companies, and third party/contract research organizations. The pharmaceutical & biotech companies segment is expected to account for leading share of the global clinical trial data management software market. The segment is projected to continue its dominance in the coming years, as it is realizing the urgent need to monitor & record the data of patients and reduce operational cost.
In terms of region, the North America is expected to dominate the clinical trial data management software market during the forecast period. The U.S. is expected to lead the North America clinical trial data management software market. According to several clinical trial databases such ClinicalTrials.gov, the European Organisation for Research and Treatment of Cancer, and International Clinical Trials Registry Platform, the number of clinical trials performed in the U.S. is almost six times more than in Canada.
The clinical trial data management software market in Asia Pacific is projected to expand at a high CAGR during the forecast period. Adoption of cloud-based clinical trial data management software by end users has propelled the demand for clinical trial data management software in the region.
Key Players
Key players profiled in the report include Bioclinica, Bio-Optronics, Forte Research Systems, IBM Corporation, Medidata Solutions, Oracle Corporation, Parexel, Quad One Technologies Pvt. Ltd., Trial By Fire Solutions, and Veeva Systems Inc.
Market Segmentation
Market By Component
- Software
- On-premises/Enterprise
- On Demand Software as a Service (SaaS)
- Services
- Professional
- Managed
Market By End User
- Pharmaceutical & Biotech Companies
- Medical Device Companies
- Third Party/Contract Research Organizations
Market By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- Kuwait
- The United Arab Emirates
- Qatar
- Bahrain
- Oman
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
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Research Methodology
The research methodology adopted by analysts for compiling the global clinical trial data management software market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global clinical trial data management software market.
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Clinical Trial Data Management Software Market, By Component
7.1. Clinical Trial Data Management Software Market, by Component, 2021-2030
7.1.1. Software
7.1.1.1. Market Revenue and Forecast (2016-2030)
7.1.2. Services
7.1.2.1. Market Revenue and Forecast (2016-2030)
Chapter 8. Global Clinical Trial Data Management Software Market, By End User
8.1. Clinical Trial Data Management Software Market, by End User, 2021-2030
8.1.1. Pharmaceutical & Biotech Companies
8.1.1.1. Market Revenue and Forecast (2016-2030)
8.1.2. Medical Device Companies
8.1.2.1. Market Revenue and Forecast (2016-2030)
8.1.3. Third Party/Contract Research Organizations
8.1.3.1. Market Revenue and Forecast (2016-2030)
Chapter 9. Global Clinical Trial Data Management Software Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Component (2016-2030)
9.1.2. Market Revenue and Forecast, by End User (2016-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Component (2016-2030)
9.1.3.2. Market Revenue and Forecast, by End User (2016-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Component (2016-2030)
9.1.4.2. Market Revenue and Forecast, by End User (2016-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Component (2016-2030)
9.2.2. Market Revenue and Forecast, by End User (2016-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Component (2016-2030)
9.2.3.2. Market Revenue and Forecast, by End User (2016-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Component (2016-2030)
9.2.4.2. Market Revenue and Forecast, by End User (2016-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Component (2016-2030)
9.2.5.2. Market Revenue and Forecast, by End User (2016-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Component (2016-2030)
9.2.6.2. Market Revenue and Forecast, by End User (2016-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Component (2016-2030)
9.3.2. Market Revenue and Forecast, by End User (2016-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Component (2016-2030)
9.3.3.2. Market Revenue and Forecast, by End User (2016-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Component (2016-2030)
9.3.4.2. Market Revenue and Forecast, by End User (2016-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Component (2016-2030)
9.3.5.2. Market Revenue and Forecast, by End User (2016-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Component (2016-2030)
9.3.6.2. Market Revenue and Forecast, by End User (2016-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Component (2016-2030)
9.4.2. Market Revenue and Forecast, by End User (2016-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Component (2016-2030)
9.4.3.2. Market Revenue and Forecast, by End User (2016-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Component (2016-2030)
9.4.4.2. Market Revenue and Forecast, by End User (2016-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Component (2016-2030)
9.4.5.2. Market Revenue and Forecast, by End User (2016-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Component (2016-2030)
9.4.6.2. Market Revenue and Forecast, by End User (2016-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Component (2016-2030)
9.5.2. Market Revenue and Forecast, by End User (2016-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Component (2016-2030)
9.5.3.2. Market Revenue and Forecast, by End User (2016-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Component (2016-2030)
9.5.4.2. Market Revenue and Forecast, by End User (2016-2030)
Chapter 10. Company Profiles
10.1. Bioclinica
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Bio-Optronics
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Forte Research Systems
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. IBM Corporation
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Medidata Solutions
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Oracle Corporation
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Parexel
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Quad One Technologies Pvt. Ltd.
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Trial By Fire Solutions
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Veeva Systems Inc.
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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