Clinical Trial Software Market to Hit $2.1 Billion by 2027. Web-Based Delivery System Gains Momentum – Arizton

Arizton Advisory and Intelligence

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

Chicago, Aug. 30, 2022 (GLOBE NEWSWIRE) — According to Arizton’s latest research report, clinical trial software market is expected to grow at a CAGR of 15% over the period 2022-2027. The growing 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 trending factors that will boost the market growth in the future.

Online clinical trials via software have changed the paradigm of clinical research and trial activities, such as data management, statistical analysis, medical writing, and regulatory submissions. Competition between large biopharmaceutical companies and CROs is driving technology adoption. The web-based delivery segment presents significant market growth opportunities owing to its increasing adoption by pharmaceutical and biotechnology companies for easy software delivery and reduced time between clinical trial activities. The growing number of small and medium-sized biopharmaceutical companies is generating market growth opportunities through the web-based software delivery segment. Advanced technologies allow easy access to patient data.

Scope of the Global Clinical Trial Software Market Report

Report attributes

Details

MARKET SIZE (2027)

$2.1 billion

MARKET SIZE (2021)

$930 million

CAGR (2022-2027)

More than 15%

YEAR OF REFERENCE

2021

FORECAST YEAR

2022-2027

MARKET SEGMENTS

Deployment (enterprise, on-premise), delivery (web-based, SaaS, on-premise), functionality (EDC, eCOA/ePRO, eConsent), end user (CRO, biopharma, medical device manufacturer, others)

KEY SUPPLIERS

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

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The acceptance of new technologies is disrupting various sectors of healthcare, including drug development. Technological advances and innovations can offer significant advantages in the development, design and efficiency of clinical trials. New technologies are helping to meet the challenges of clinical trials. Breakthrough advanced technologies in clinical trials such as wearable technologies, big data analytics, AI, synthetic biology, telehealth and telemedicine and mobile communication applications are driving the market growth significantly clinical trial software.

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

Many regional and local companies pose a threat to global players due to their innovative and profitable 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. Also, there is an increase in the number of mergers and acquisitions in the market. Pharmaceutical, biotech, and CRO companies demand less complex, low-cost software implementation, provisioning, integrations, and maintenance. Hence, 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 leading CROs to invest in advanced remote patient monitoring and telehealth platforms to acquire patient data. Increased competition among biopharmaceutical companies and high expenditure on drug development and clinical trial activities are positively influencing the growth of the global clinical trial software market.

key ideas

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

  • The web distribution segment accounted for more than 44.00% market share in 2021.

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

  • Contract research organizations are the major segment among end users which accounted for a higher market share than biotech and pharmaceutical companies. Majority of big and small companies prefer to use CRO for their clinical trials.

  • The North America region dominates the market and is expected to grow with a CAGR of 14.73% during the forecast period.

  • The APAC region has the highest CAGR in the market. Increasing number of clinical trial activities, decreasing cost of clinical trials and higher success rate are driving the growth of clinical trial software market in APAC.

Main suppliers

Other important providers are

  • Advarra

  • ArisGlobal

  • AstraCore

  • Axiom Metirics in real time

  • EDC Roulette

  • ClinCapture

  • DataTrial

  • DataTrak

  • IBM

  • Florence Health

  • medical fortress

  • Medirio

  • Reify Health

  • Meaningful health

  • SoftPromed

  • Statsols

  • Veeva Systems (20)

Market segmentation

Deployment

Delivery

Characteristic

Final 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

  • United Arab Emirates

  • South Africa

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