Fort Collins, Colorado, Sept. 25, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Clinical Trials Management Market Size, Growth, Share, Statistics Report, By Product (Software, Services), By Delivery (Web-hosted, On-premise, Cloud-based), By Deployment (Enterprise, On-site), By End-user (Pharmaceutical, Medical Device Manufacturers), By Region, and Segment Forecasts, 2023-2032."
According to DataHorizzon Research, The clinical trials management market size was estimated to be valued at USD 1.4 Billion in 2022 and projected to arrive at USD 4.8 Billion by 2032 with a CAGR of 13.0%. The global clinical trials management market report comprehensively analyzes the latest trends and market scenarios. The report holistically offers the latest insights from the industry and discusses market opportunities.
Clinical trials can be both cost-effective and time-effective in the long run. The vaccines and various medicines are initially tried and tested that allows to rule out the associated complications. Chronic diseases and lifestyle-related illnesses drive the market for clinical trial management systems. Time is a crucial factor for vaccine development and distribution. For example, the clinical trials for the COVID-19 vaccines for humans were conducted around for a year before the vaccine distribution.
Clinical trial management systems assist pharmaceutical companies in finding the perfect product according to a particular disease and particular geography. For example, in some cases, several diseases start to affect large demographics. Clinical trials help to determine which medicines and drugs can be used accordingly.
The increase in investments for the trial of different medicines for different purposes has helped the overall market. This helps in determining the medicine's suitability for an individual. This helps in early recovery and stronger immunity for patients suffering from various kinds of life-threatening diseases. It also helps customize the medicine according to the individual’s body conditions. These trials are also useful for people suffering from rare disorders.
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Report Snapshot:
| Report Title | Clinical Trials Management Market |
| Market Size in 2022 | USD 1.4 Billion |
| Market Size by 2032 | USD 4.8 Billion |
| CAGR from 2023 to 2032 | 13.0% |
| Largest Market | North America |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations, Competitor Analysis, Trends, and Growth Factors |
| By Product | Software and Services |
| By Delivery | Web-hosted, On-premise, Cloud-based |
| By Deployment | Enterprise, On-site |
| By End-user | Medical Device Manufacturers, CROs, Chemicals, Food & Beverages, Healthcare & Pharmaceutical |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, Brazil, Mexico, UAE, Saudi Arabia, South Africa, among others |
| Major Market Players | DATATRAK International., PHARMACEUTICALSEAL International Ltd, IQVIA Inc, RealTime Software Solutions, LLC, Simple Trials Inc., Wipro Limited, Corporation of America Holdings, Veeva Systems, and Calyx. |
Segmentation Overview:
The global clinical trials management system market has been segmented based on offering, technology, end-users, and region. Software is leading in the offering segment owing to the popularity of software applications in the healthcare industry. Regarding end-users, clinical research organizations (CROs) are leading the segment with a high share.
North America is the leading region for the clinical trial management system market, attributed to the high availability of medical infrastructure and ongoing research and development in the regional market. Moreover, the key players are spending highly on vaccine trials to detect their impact on several life-threatening diseases such as tuberculosis, respiratory diseases, and diabetes.
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Clinical Trials Management Market Report Highlights:
- The global clinical trials management system market growth is projected at USD 4.8 billion at a CAGR of 13.0% by 2032.
- The high volume of vaccine trials worldwide largely drives the global clinical trials management market. Besides, the prevalence of chronic diseases worldwide triggers the need for vaccine efficiency.
- Software is the leading segment due to the growing need for technical compatibility and popularity.
- The web & cloud category accounted for a leading share in 2022 and is projected to remain dominant in the forthcoming years.
- North America is a leading clinical trial management region and is projected to remain dominant in the forthcoming years. Asia Pacific is a fast-growing market owing to the availability of a high patient pool. China is the leading region and is anticipated to account for a high market share in the following years.
- Some prominent players in the clinical trials management market report include DATATRAK International., PHARMACEUTICALSEAL International Ltd, IQVIA Inc, ABB, Simple Trials Inc., Wipro Limited, Weir Group plc, Oracle, KSB Group, and Valvitalia Group.
Key Developments in the Industry:
- In 2023, Vial, a leading CRO provider, will present as a host and speaker at the 21st Precision in Clinical Trials Summit in San Diego on October 16 and 17, 2023. The summit offers a huge platform for medium and large biopharmaceutical organizations to collaborate with other regional players.
- In 2023, Mural Health raised USD eight million to reduce the complexities of participants in the clinical trial systems. The company witnessed a high marginal drop-out rate for clinical trials owing to travel, time, and budget constraints. Mural Health has initiated the design of an application that reduces these complexities and encourages positive experiences for participants. Through Mural Link, the application enables a seamless connection between patients and clinicians to stay connected and participate in clinical trials.
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Clinical Trials Management Market Report Segmentation:
Clinical Trials Management Market, By Offering (2023-2032)
- Software
- Services
Clinical Trials Management Market, By Technology (2023-2032)
- Web & Cloud-based
- On-premise
Clinical Trials Management Market, By Deployment (2023-2032)
- Enterprise
- On-site
Clinical Trials Management Market, By End-User (2023-2032)
- Clinical Research Organizations
- Pharmaceutical
- Healthcare Providers
- Biopharmaceutical Companies
Clinical Trials Management Market, By Region (2023-2032)
- North America
-
- U.S.
- Canada
- Europe
-
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
-
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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