Clinical Trial Data Management Software Market Size | Report 2022-2030

The global clinical trial data management software market size is expected to surpass around USD 7.2 billion by 2030 and is anticipated to grow at a CAGR of 8.1% from 2021 to 2030.

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.

Get the sample copy of report@ https://www.visionresearchreports.com/report/sample/38522

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
• Europe
• Asia Pacific
• Middle East & Africa
• South America

Click Here to View Full Report Table of Contents

Buy this Premium Research Report@ visionresearchreports.com/report/cart/38522

You can place an order or ask any questions, please feel free to contact at sales@visionresearchreports.com | +1 9197 992 333