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Clinical trial software market to reach $2.1 billion by 2027. Web-based delivery system gains momentum – Arizton

August 31, 2022 by admin

Arizona advice and information

Arizona advice and information

The global clinical trial software market was valued at $930.22 million in 2021 and is expected to grow at a CAGR of more than 15%.

Chicago, Aug. 30, 2022 (GLOBE NEWSWIRE) — According to Arizton’s latest research report, the clinical trial software market is expected to grow at a CAGR of 15% in 2022-2027. The increasing adoption of virtual clinical trials will be the next big opportunity for the clinical trial software market. New technological innovations such as cloud computing and unified clinical trials are some of the trend factors that will drive the market growth in the future.

Web-based clinical trials through software changed the paradigm of clinical research and trial activities such as data management, statistical analysis, medical writing, and regulatory submission. Competition between major biopharmaceuticals and CROs is driving technology adoption. The web-based delivery segment shows significant market growth opportunities due to increased adoption by pharmaceutical and biotech companies for simple software delivery and shorter timelines between two clinical research activities. The increased number of small and medium-sized biopharmaceutical companies is driving market growth opportunities through the web-based software delivery segment. Advanced technologies enable easy access to patient data.

Global Clinical Trials Software Market Size:

Report Attributes

Details

MARKET SIZE (2027)

$2.1 billion

MARKET SIZE (2021)

$930 million

CAGR (2022-2027)

more than 15%

BASE YEAR

2021

FORECAST YEAR

2022-2027

MARKET SEGMENTS

Deployment (on-enterprises, on-site), delivery (web-based, SaaS, on-premises), function (EDC, eCOA/ePRO, eConsent), end user (CROs, biopharma, medical device manufacturer, others)

KEY SELLERS

BSI, Clario, Dassault Systemes, IQVIA, Labcorp Drug Development, Oracle, Paraxel

Click here to download the free sample report

The adoption of new technologies is disrupting several healthcare sectors, including drug development. Advances and innovations in technologies can provide significant benefits in clinical trial development, design and efficiency. New technologies help address challenges in clinical trials. Pioneering advanced technologies in clinical trials, such as wearable technologies, big data analytics, AI, synthetic biology, telehealth and telemedicine, and mobile communications applications are significantly driving the growth of the clinical trial software market.

The clinical trial software market supports unified platforms. Many large companies acquire multiple smaller companies in different locations to conduct clinical trials or to collaborate with other companies for research purposes. A unified platform makes it easier for companies to follow trials in such cases. Data availability, integration and interoperability are unique factors driving the adoption of unified clinical research platforms.

Many regional and local companies pose a threat to global players because of their innovative and cost-effective products and technologies. This indicates that the market offers huge growth opportunities for existing and future/emerging players. Every year, many new market players enter the market. There is also an increase in the number of mergers and acquisitions in the market. Pharmaceutical, biotech and CROs require less complex and inexpensive software implementation, sourcing, integration and maintenance. Therefore, there is a huge demand for the SaaS model in the market. Many CROs prefer to conduct virtual clinical trials and hybrid clinical trials. This is driving CROs to invest in advanced remote patient monitoring and telehealth platforms to obtain patient data. Increased competition among biopharmaceutical companies and high spending on drug development and clinical trial activities are positively impacting the growth of the global clinical trial software market.

Key insights

  • The on-enterprise segment accounted for over 75% market share by deployment model.

  • The web-based delivery segment accounted for over 44.00% market share in 2021.

  • The Electronic Data Collection (EDC) segment accounted for the highest market share in 2021. In 2021, the EDC, eCOA & ePRO and eConsent segments had 46.32%, 29.33% and 24.35% market share respectively.

  • Contract research organizations are the leading end-user segment with a larger market share than the biotech and pharmaceutical companies. The majority of large and small companies prefer to use CROs for their clinical trials.

  • The North America region dominates the market and is expected to grow at 14.73% CAGR over the forecast period.

  • The APAC region has the highest CAGR in the market. The increasing amount of clinical trial activity, lower clinical trial cost and higher success rate are driving the growth of the clinical trial software market in APAC.

Main suppliers

Other prominent suppliers are:

  • Advarra

  • ArisGlobal

  • AstraCOre

  • Axiom Realtime Metirics

  • Castor EDC

  • ClinCapture

  • DataTrial

  • DataTrak

  • IBM

  • Florence Healthcare

  • Fort Medical

  • Medrio

  • Reify Health

  • Significant Health

  • SofPromed

  • statsols

  • Veeva Systems (20)

Market segmentation

Effort

Delivery

Feature

End User

Geography

North America

Europe

  • UK

  • France

  • Germany

  • Italy

  • Spain

Asia-Pacific (APAC)

  • Japan

  • China

  • India

  • South Korea

  • Australia

Latin America

Middle East and Africa

  • Turkey

  • Saudi Arabia

  • UAE

  • South Africa

To learn more about the industry, view our healthcare life sciences profile.

Click here to download the free sample report

Read some of the best-selling reports:

About Arizona:

Arizton Advisory and Intelligence is an innovation and quality-driven company that provides advanced research solutions to clients around the world. We excel in providing comprehensive market intelligence reports and advisory and advisory services.

We provide comprehensive market research reports across sectors such as consumer goods and retail technology, automotive and mobility, smart tech, healthcare and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers and trend forecasts.

Arizton consists of a team of exuberant and experienced analysts who have mastered making sharp reports. Our specialist analysts have exemplary market research skills. We train our team in advanced research practices, techniques and ethics to perform better when creating impregnable research reports.

Click here to contact us

Call: +1-312-235-2040
+1 302 469 0707

CONTACT: Arizton Advisory and Intelligence Call: +1-312-235-2040  +1 302 469 0707

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Filed Under: Software

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