Dublin, Jan. 02, 2025 (GLOBE NEWSWIRE) — The “Clinical Trials Software Market – Focused Insights 2024-2029” report has been added to ResearchAndMarkets.com’s offering.
The Clinical Trials Software Market was valued at USD 1.26 billion in 2023, and is projected to reach USD 3.13 billion by 2029, rising at a CAGR of 16.38%. The global clinical trials software market is set to grow due to rapid development in clinical trials and the increasing attention toward patient-centric approaches.
The global clinical trials software market report consists of exclusive data from 36 vendors. Dassault Systemes, BSI Business System Integration AG, Clario., IQVIA, Laboratory Corporation of America Holdings, and Oracle Corporation are some leading companies. These vendors continuously develop innovative clinical trial software platforms and associated tools and maintain their brand image in the global market. Software launches, promotion activities, product development and advancements, collaborations, and partnerships also strengthen their position in the market. These market players are expected to dominate with continued engagement, innovation, and business strategic initiatives like M&A, collaboration, and partnership.
RECENT VENDORS ACTIVITIES
- In 2024, the Research Solution company- a trusted partner cloud-based workflow solutions launched a new Clinical Trial Landscape software solution to make clinical trial data more accessible, actionable, and insightful. This software is expected to enhance data management in clinical studies and will help reduce workforce requirements and associated costs.
- In 2024, IQVIA, one of the leading market players, launched One Home for Site, a SaaS-based solution to simplify the workflow for clinical studies, enabling more focus on patient care and advancing clinical trials. This platform was also developed to reduce trial delays and increase the number of clinical trials.
- Risklick developed and launched a new AI software that writes clinical studies protocols in 2024. This software claims to reduce development time and cost by 35%. It integrates Natural Language Processing and large language model technologies to analyze historical and current data and support clinical trial operators.
- In 2024, Revvity launched the Signals Clinical solution, a SaaS platform to centralize complete clinical trial data.
KEY TAKEAWAYS
- Market Growth: The global clinical trials software market was valued at USD 1.25 billion in 2023 and is expected to reach USD 3.12 billion by 2029, growing at a CAGR of 16.40% during the forecast period.
- By Development: The on-enterprise segment accounted for the dominant market share, and the increasing adoption of advanced and new clinical trial model approaches by CROs and biopharmaceutical companies drives the growth.
- By Delivery: The SaaS segment showcases the highest CAGR of 17.14%, as it helps reduce the organization’s staff burden and improve data accuracy.
- By Feature: The EDC segment holds the largest market share and shows the highest growth as it collects, cleans, and analyzes patient data to streamline clinical trial studies.
- By End-Users: The CRO segment dominates the global clinical trials software market share. It plays a vital role in clinical trials, from patient enrollment through trial execution, to ensure safety and compliance.
- By Geography: North America dominates and has the largest market share of 33%. It has a high adoption rate of decentralized clinical trials, with a strong foundation and wide acceptance of advanced clinical trial models.
MARKET TRENDS & DRIVERS
Growing Attention to Enhance Data Privacy and Security
Clinical trials are becoming more advanced, and integrating new digital tools, technologies, and software is essential. However, with the growing attention towards data privacy and security, future clinical database software is incorporating advanced security features while using clinical trial software solutions. In recent years, advanced features have gained huge attention in the clinical trials software industry, like sophisticated encryption techniques, data security regulations, and blockchain technologies for immutable data records.
Rapid Development in Clinical Trials
Innovations are revolutionizing the clinical trials industry and delivering potential growth opportunities. In addition, technology advancement and integration accelerate the development of personalized medicines and treatments, remote patient monitoring, and hybrid & fully decentralized clinical trials. Machine learning (ML) and artificial intelligence (AI) are rapidly integrated into numerous drug discovery and development procedures. AI facilitates drug development, speeding up operations, improving trial efficiency, increasing the precision of data analysis, and automating testing. Moreover, the expanding hybrid and decentralized trial models and associated tools and technologies create huge opportunities for the clinical trials software market.
Reduction in Trials Expenses with Clinical Trials Software
Incorporating clinical trial software is an effective approach, enabling significant cost savings for organizers and sponsors. Clinical trials software solution reduced around 30% of overall clinical trials cost. By reducing reliance on physical sites or in-person visits, with a decentralized clinical trials model, clinical trials software streamlines research procedures, decreases overhead costs, and saves on patient travel, site operations, patient monitoring visits, shortened enrolment periods, reduced patient dropout, expedited data collection, and accuracy. Clinical trials are notoriously complex, lengthy, and expensive, imposing a significant financial burden on healthcare companies. Clinical trial software features like EDC enhanced clinical trial and patient data and reduced associated traditional paper-based documents. ePRO and eCOA enhanced patient health-related data, reducing human errors and associated costs. eConsent has become a major choice for reducing paper-based and traditional consent forms and patient attitudes toward participation in clinical trials.
INDUSTRY RESTRAINTS
Lack of Adoption & Acceptance
During the COVID-19 pandemic, the popularity and awareness of clinical trial software have increased significantly. However, the acceptance of clinical trial software in clinical studies is still lower. Several factors hamper the adoption of clinical trial software, including the lack of supportive digital infrastructure, the required investment cost, the return on investment in clinical trials, and the lack of resources to handle them. Clinical trial sites already face huge costs and employee/workforce burdens, where incorporating clinical trial software poses an additional burden. Several factors need to be considered when incorporating clinical trial software, which requires huge investment costs, including features and functionality, technology stack, regulatory compliance, development team, integration, maintenance, and support.
GEOGRAPHICAL ANALYSIS
North America held the largest market share, over 33% of the global clinical trials software market. North America dominates the market by adopting advanced technologies and digital tools in clinical studies. The U.S. has a high adoption rate of decentralized clinical trials in North America, with a strong foundation and wide acceptance of advanced clinical trial models. This existing infrastructure and willingness to embrace innovative technologies have positioned North America as a global clinical trials software market leader. Favorable guidelines, government support, and rising expenditure are key factors contributing to the growth of clinical research in the US. The US and Canada are the top two countries in North America, and they conduct many decentralized clinical trials and contribute to market growth.
COMPETITIVE LANDSCAPE
Key Vendors
- Dassault Systemes
- BSI Business Systems Integration
- Clario
- IQVIA
- Laboratory Corporation of America
- Oracle Corporation
Other Prominent Vendors
- Advarra
- ArisGlobal
- Astracore
- Axiom Real-Time Metrics
- Castor
- clinCapture
- Cytel, Inc
- FOUNTAYN (Datatrak Int)
- IBM (IBM Watson)
- Florence Healthcare
- EvidentalQ -Fortress Medical
- Medrio
- OpenClinica
- RealTime Software Solutions
- ResearchManager Support
- Reify Health – OneStudy Team
- Signant Health
- Safpromed
- Statsols
- Veeva Systems
- SimpleTrials
- Revvity -Revvity Signals Software
- Integra IT S.A.S
- Clinevo Technologies
- Axial Group
- Research Solutions
- Data Management 365
- Prelude
- Risklick.ch
- Anju
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 151 |
| Forecast Period | 2023 – 2029 |
| Estimated Market Value (USD) in 2023 | $1.26 Billion |
| Forecasted Market Value (USD) by 2029 | $3.13 Billion |
| Compound Annual Growth Rate | 16.3% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1: Clinical Trials Software Market Overview
- Executive Summary
- Key Findings
Chapter 2: Clinical Trials Software Market Market
- Global: Projected Revenue of Clinical Trials Software Market (2020-2029; $ Millions)
Chapter 3:Clinical Trials Software Market Prospects & Opportunities
- Market Opportunities & Trends
- Market Drivers
- Market Constraints
Chapter 4: Clinical Trials Software Market Segmentation Data
Global: Projected Revenue by Deployment Type (2020-2029; $ Millions)
Global: Projected Revenue by Delivery (2020-2029; $ Millions)
Global: Projected Revenue by Feature (2020-2029; $ Millions)
Global: Projected Revenue by End-user (2020-2029; $ Millions)
- Cros
- Bio & Pharmaceutical Companies
- Medical Devices Manufacturer
- Other End-users
Chapter 5: Key Regions Overview
North America: Projected Revenue of Clinical Trials Software Market (2020-2029; $ Millions)
- Projected Revenue of Clinical Trials Software Market in the US
- Projected Revenue of Clinical Trials Software Market in Canada
Europe: Projected Revenue of Clinical Trials Software Market (2020-2029; $ Millions)
- Projected Revenue of Clinical Trials Software Market in Germany
- Projected Revenue of Clinical Trials Software Market in the UK
- Projected Revenue of Clinical Trials Software Market in France
- Projected Revenue of Clinical Trials Software Market in Spain
- Projected Revenue of Clinical Trials Software Market in Italy
APAC: Projected Revenue of Clinical Trials Software Market (2020-2029; $ Millions)
- Projected Revenue of Clinical Trials Software Market in China
- Projected Revenue of Clinical Trials Software Market in Japan
- Projected Revenue of Clinical Trials Software Market in India
- Projected Revenue of Clinical Trials Software Market in Australia
- Projected Revenue of Clinical Trials Software Market in South Korea
Latin America: Projected Revenue of Clinical Trials Software Market (2020-2029; $ Millions)
- Projected Revenue of Clinical Trials Software Market in Brazil
- Projected Revenue of Clinical Trials Software Market in Mexico
- Projected Revenue of Clinical Trials Software Market in Argentina
Middle East & Africa: Projected Revenue of Clinical Trials Software Market (2020-2029; $ Millions)
- Projected Revenue of Clinical Trials Software Market in Turkey
- Projected Revenue of Clinical Trials Software Market in South Africa
- Projected Revenue of Clinical Trials Software Market in Saudi Arabia
Chapter 6: Clinical Trials Software Market Industry Overview
- Competitive Landscape
- Key Vendor Profiles
- Other Prominent Vendors
- Key Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/1iboj0
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- Clinical Trials Software Market
