JERSEY CITY, N.J., Jan. 25, 2022 /PRNewswire/ -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Clinical Trials Software Market Trends, Industry Competition Analysis, Revenue and Forecast To 2030."
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According to the latest research, the global clinical trials software market is valued at US$ 1.20 Billion in 2021, and it is expected to reach US$ 4.13 Billion by 2030, with a CAGR of 15.1% during the forecast period of 2022-2030. By region, North America dominated the global market with a share of 37% in 2021.
Clinical trials are an essential part of drug clinical research. Clinical trials are a major part of drug development processes and the discovery of new treatments and drugs for various diseases such as cancer and cardiovascular diseases. Advanced clinical trials software is widely used to improve data quality, management, and procedures of the research studies.
Increasing government funding for the development of clinical trial services, advancements in technologies, high demand for clinical trial management services is primarily driving the market growth. Rising R&D funding activities in clinical research, growing prevalence of chronic diseases, innovation of clinical trial planning & design services, developing healthcare infrastructure, and increasing use of cloud-based solutions by biopharma companies for clinical trial process automation are further likely to boost the market growth. There is a surge in clinical trial studies due to the rising prevalence of chronic diseases. Hence, biopharmaceutical companies adopt clinical trial management services to reduce process time and increase the efficiency and accuracy of clinical trials. Thus, it is expected to propel market growth opportunities in the next few years.
On the other side, the high cost of clinical trial software may hamper the market expansion over the forecast period.
Regionally, North America is expected to lead the global clinical trials software market during the forecast period (2022-2030), followed by Europe, owing to the increasing clinical R&D activities of pharma companies, fast adoption of cloud-based technologies, and rising prevalence of various diseases.
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Key market players operating in the clinical trials software market include Advarra, Antidote Technologies, Inc., ArisGlobal , AssistRx, athenahealth, Inc., Axiom Real-Time Metrics, BioClinica Inc. , BSI Business Systems Integration AG, Calyx , Castor EDC, Chronicles, Clario, Clarivate, ClinCapture, Clincase, Clinical Research, CLIRINX, Cloudbyz, Dacima Software Inc., Datatrak Int. , Florence HC , IBM , Instem , IQVIA , MasterControl Inc., Medidata Solutions Inc, MedNet Solutions Inc., Novatek International, Octalsoft , Openclinica, Oracle Corporation, Parexel International Corp., RealTime Software Solutions LLC, Reify Health, Inc., Signant Health, Statsols, TrialKit , Veeva Systems Inc., WIRB-Copernicus Group, and Other prominent players.
Key recent developments in the market:
- In December 2021, Advarra (US), the market leader in clinical site technologies and research quality and compliance consulting services, launched Advarra Cloud. The next-generation platform broadens cloud deployment options for Advarra customers and delivers applications in an easy-to-use, fully managed environment.
- In April 2021, Bioclinica (US) introduced the new source document management solution that combines advanced software with redaction and translation services to offer support to global research sites and trial management teams.
- In April 2021, Calyx, the eClinical and regulatory solutions & services provider, released Calyx CTMS v15.0, an advanced clinical trial management system on Azure cloud technology to reduce risk and improve efficiencies in clinical development.
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Market Segments
Global Clinical Trials Software Market, by Type of Deployment, 2022-2030 (Value US$ Mn)
- On-cloud
- On-premises
Global Clinical Trials Software Market, by Type of Delivery, 2022-2030 (Value US$ Mn)
- Web-based
- Remote Monitoring
Global Clinical Trials Software Market, by Features of software, 2022-2030 (Value US$ Mn)
- EDC
- eCOA/ePRO
- eConsent
Global Clinical Trials Software Market, by End-Users, 2022-2030 (Value US$ Mn)
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations (CROs)
- Medical Device Manufacturers
- Others
Global Clinical Trials Software Market, by Region, 2022-2030 (Value US$ Mn)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
North America Clinical Trials Software Market, by Country, 2022-2030 (Value US$ Mn)
- U.S.
- Canada
Europe Clinical Trials Software Market, by Country, 2022-2030 (Value US$ Mn)
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia Pacific Clinical Trials Software Market, by Country, 2022-2030 (Value US$ Mn)
- India
- China
- Japan
- South Korea
- Australia & New Zealand
Latin America Clinical Trials Software Market, by Country, 2022-2030 (Value US$ Mn)
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa Clinical Trials Software Market, by Country, 2022-2030 (Value US$ Mn)
- South Africa
- GCC Countries
- Rest of Middle East & Africa
Why should buy this market research report:
- To receive a exaustive analysis of the prospects for the global clinical trials software market
- To receive an industry overview and future industry trends of the clinical trials software market
- To analyze the clinical trials software market drivers and challenges
- To get information on the clinical trials software market size (Value US$ Mn) forecast to 2030
- To receive information on sgnificant investments, mergers & acquisitions in the clinical trials softwareindustry
Other Related Reports Published by InsightAce Analytic:
Global Site Management Organizations (SMO) Market
Global Clinical Trial Imaging Services Market
Global AI-Based Clinical Trial Solution Providers Market
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