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Clinical trials play an essential role in discovering new treatments for diseases and better ways to detect diseases, diagnose, and prevent the chance of developing the disease. The clinical trial process indicates what works for humans and what doesn't by testing them on humans in a professional setup. The clinical trials software market growth is due to the increasing demand from pharmaceutical organizations to minimize the cost of medical research, reduce the burden, and increase access to advanced technologies.
Clinical trial software is also known as a clinical trial management system (CTMS). The software is used to manage research activities by the contract research organization (CROs). Increasing clinical trials worldwide drive the demand for new standard software solutions that enable easy access to activities for sponsors, CROs, medical device manufacturers, and outsourcing organizations engaged in medical research activities.
In global biopharmaceutical industries, there are significant changes addressed in the last decades, such as externalizing drugs research and development activities and manufacturing with the help of crucial strategies such as a partnership with small-medium size biopharma companies, academic institutes, government research institutes, and centers, etc. As a part of the significant changes in those industries, CROs became essential to clinical trial services. It helps speed up drug development processes and increase the manufacturing capabilities per the market's needs. But the introduction of CTMS solved several challenges. It allowed the CROs and sponsors to overcome the restraint burden in clinical trials, from drug discovery to clinical trial phases and the approval cycle of drugs.
Recently, the COVID-19 crisis increased the digitalization of medical trials, and the adoption of digital tools and remote monitoring devices in the virtual clinical trial process has risen sharply. High focus on R&D activities, increasing demand for specialty medicines, and real-world evidence are some factors that led to the adoption of clinical trial management software solutions.
Remote clinical trial monitoring is the new standard for performing research in recent times. Clinical trials are a highly complex and expensive, and time-consuming process. So, with the increasing burden of medical research activities, most biopharma companies complete clinical trials with their in-house capabilities or by contract research organizations. So, vendors are adopting remote monitoring software due to the growing security purpose, well-established protocol, and ensuring that the research site conducts the clinical trials as per the protocol.
The COVID-19 pandemic has accelerated the ongoing shift toward remote monitoring through clinical trial management software solutions. It is one of the essential elements in the medical practice and is one of the most critical connections between CROs, sponsors, and the research site.
Cloud computing is a rapidly growing concept leveraging opportunities for market vendors. The shift from traditional methods such as paperwork to complete electronic tool applications will provide lucrative opportunities for market growth. The electronic data capture, transcribing data, Smart devices, and wearable solutions help directly collect data from patients without visiting the trial site. It helps collect data faster without disturbing patients' daily life activities. It helps in the retention of patients. It reduced transportation and travel cost. Conversely, the growing craze for virtual research activities among the biopharma and medical device organizations will drive the demand for Clinical trials management software.Due to insufficient recruitment and retention of participants in the study population, more than 80% of the research is failing, getting extended, and adding new study sites. Virtual clinical trials are witnessing growth due to increased patient enrolment through software solutions. In contrast, virtual patient recruitment software allows recruiting patients from across the globe, fulfills the demand, and increases the chances of success. It helps to eliminate the frequent traveling to study sites and do automation in medical data collection, increasing patient engagement, and retention.
Virtual collaboration strategies in medical research, using clinical trials management software, allow businesses to work rapidly and more efficiently, eliminate the need for document sharing to additional office locations, and reduce the burden.
Key players prefer the usage of unified platforms for conducting medical research. This provides multiple features that companies can use to conduct research. Medidata, a large clinical trials software provider, has one of the robust unified platforms most customers use.
As per the Clinical Trials Arena article 2022, IQVIA is one of the leading pharma companies in cloud computing. It shows that the filing of the companies in the pharmaceutical industry increased 12% between Q2 to Q3 in 2021.
One of the factors driving the market growth is the increasing complexity of clinical trial processes. Stringent regulation, the longer lifecycle of research, and high cost significantly increased the adoption of digital tools in tests to reduce the cost and timeline challenges.
During the pandemic COVID-19, most biopharma companies rapidly turned toward vaccine production. As well as running clinical trials were conducted using software solutions like remote monitoring and more.
Key Questions
Answered: 1. What was the global clinical trials management software market value in 2021?2. How big is the clinical trials management system market?3. Who are the key vendors in the clinical trials management systems market?4. What are the factors driving the clinical trials management software market growth?
Key Topics Covered: 1 Research Methodology 2 Research Objectives 3 Research Process 4 Scope & Coverage 4.1 Market Definition4.1.1 Inclusions4.1.2 Exclusions4.1.3 Market Estimation Caveats4.2 Base Year4.3 Scope of the Study4.3.1 Market Segmentation by Deployment4.3.2 Market Segmentation by Delivery4.3.3 Market Segmentation by Feature4.3.4 Market Segmentation by End-User4.3.5 Market Segmentation by Geography 5 Report Assumptions & Caveats 5.1 Key Caveats5.2 Currency Conversion5.3 Market Derivation 6 Market at a Glance 7 Introduction 7.1 Overview7.1.1 Demand for Advanced Software 8 Premium Insights 8.1 Overview 9 Market Opportunities & Trends 9.1 New Technologies in Clinical Trials9.2 Increased Virtual Clinical Trials9.3 Unified Clinical Trial Platforms for Next-Generation Clinical Trials 10 Market Growth Enablers 10.1 Cloud Computing in Clinical Trials10.2 Advent of Drug Discovery Start-Ups & Small Biopharma Companies10.3 Increased Expenditure & R&D by Biopharma Companies 11 Market Restraints 11.1 Stringent Regulatory Guidelines Related to Data Handling11.2 Data Security Risks11.3 Use of Traditional Clinical Trial Methods 12 Market Landscape 12.1 Market Overview12.2 Market Size & Forecast12.3 Five Forces Analysis12.3.1 Threat of New Entrants12.3.2 Bargaining Power of Suppliers12.3.3 Bargaining Power of Buyers12.3.4 Threat of Substitutes12.3.5 Competitive Rivalry 13 Deployment 13.1 Market Snapshot & Growth Engine13.2 Market Overview13.3 On-Enterprise13.3.1 Market Overview13.3.2 Market Size & Forecast13.3.3 Market by Geography13.4 On-Site13.4.1 Market Overview13.4.2 Market Size & Forecast13.4.3 Market by Geography 14 Delivery 14.1 Market Snapshot & Growth Engine14.2 Market Overview14.3 Web-Based14.3.1 Market Overview14.3.2 Market Size & Forecast14.3.3 Market by Geography14.4 Saas14.4.1 Market Overview14.4.2 Market Size & Forecast14.4.3 Market by Geography14.5 On-Premise14.5.1 Market Overview14.5.2 Market Size & Forecast14.5.3 Market by Geography 15 Feature 15.1 Market Snapshot & Growth Engine15.2 Market Overview15.3 Edc15.3.1 Market Overview15.3.2 Market Size & Forecast15.3.3 Market by Geography15.4 Ecoa & Epro15.4.1 Market Overview15.4.2 Market Size & Forecast15.4.3 Market by Geography15.5 Econsent15.5.1 Market Overview15.5.2 Market Size & Forecast15.5.3 Market by Geography 16 End-User 16.1 Market Snapshot & Growth Engine16.2 Market Overview16.3 Cros16.3.1 Market Overview16.3.2 Market Size & Forecast16.3.3 Market by Geography16.4 Biotech & Pharmaceutical Companies16.4.1 Market Overview16.4.2 Market Size & Forecast16.4.3 Market by Geography16.5 Medical Device Manufacturers16.5.1 Market Overview16.5.2 Market Size & Forecast16.5.3 Market by Geography16.6 Others16.6.1 Market Overview16.6.2 Market Size & Forecast16.6.3 Market by Geography 17 Geography 18 North America 19 Europe 20 APAC 21 Latin America 22 Middle East & Africa 23 Competitive Landscape 23.1 Competition Overview23.2 Market Share Analysis23.2.1 Bsi Business Systems Integration AG23.2.2 Clario23.2.3 Dassault Systemes23.2.4 Iqvia23.2.5 Labcorp Drug Development23.2.6 Oracle Corporation23.2.7 Parexel International Corporation 24 Key Company Profiles 24.1 Bsi Business Systems Integration AG24.1.1 Business Overview24.1.2 Product Offerings24.1.3 Key Strategies24.1.4 Key Strengths24.1.5 Key Opportunities24.2 Clario24.2.1 Business Overview24.2.2 Product Offerings24.2.3 Key Strategies24.2.4 Key Strengths24.2.5 Key Opportunities24.3 Dassault Systemes24.3.1 Business Overview24.3.2 Product Offerings24.3.3 Key Strategies24.3.4 Key Strengths24.3.5 Key Opportunity24.4 Iqvia24.4.1 Business Overview24.4.2 Product Offerings24.4.3 Key Strategies24.4.4 Key Strengths24.4.5 Key Opportunities24.5 Labcorp Drug Development24.5.1 Business Overview24.5.2 Product Offerings24.5.3 Key Strategies24.5.4 Key Strengths24.5.5 Key Opportunities24.6 Oracle Corporation24.6.1 Business Overview24.6.2 Product Offerings24.6.3 Key Strategies24.6.4 Key Strengths24.6.5 Key Opportunities24.7 Paraxel International Corporation24.7.1 Business Overview24.7.2 Product Offerings24.7.3 Key Strategies24.7.4 Key Strengths24.7.5 Key Opportunities 25 Other Prominent Vendors 25.1 Advarra25.1.1 Business Overview25.1.2 Product Offerings25.2 Arisglobal25.2.1 Business Overview25.2.2 Product Offerings25.3 Astracore25.3.1 Business Overview25.3.2 Product Offerings25.4 Axiom Real-Time Metrics25.4.1 Business Overview25.4.2 Product Offerings25.5 Castor Edc25.5.1 Business Overview25.5.2 Product Offerings25.6 Clincapture25.6.1 Business Overview25.6.2 Product Offerings25.7 Datatrial25.7.1 Business Overview25.7.2 Product Offerings25.8 Datatrak Int.25.8.1 Business Overview25.8.2 Product Offerings25.9 Ibm25.9.1 Business Overview25.9.2 Product Offerings25.10 Florence Healthcare25.10.1 Business Overview25.10.2 Product Offerings25.11 Fortress Medical25.11.1 Business Overview25.11.2 Product Offerings25.12 Medrio25.12.1 Business Overview25.12.2 Product Offerings25.13 Openclinica, LLC25.13.1 Business Overview25.13.2 Product Offerings25.14 Realtime Software Solutions25.14.1 Business Overview25.14.2 Product Offerings25.15 Research Manager25.15.1 Business Overview25.15.2 Product Offerings25.16 Reify Health, Inc.25.16.1 Business Overview25.16.2 Product Offerings25.17 Signant Health25.17.1 Business Overview25.17.2 Product Offerings25.18 Sofpromed25.18.1 Business Overview25.18.2 Product Offerings25.19 Statsols25.19.1 Business Overview25.19.2 Product Offerings25.20 Veeva Systems25.20.1 Business Overview25.20.2 Product Offerings 26 Report Summary 27 Quantitative Summary
28 Appendix
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