Clinical Trial Management System Market Size, Share, Industry, Forecast and outlook (2023-2030)

Global Clinical Trial Management System Market is segmented By Type (On-Site CTMS, Enterprise-wide CTMS), By Mode of Delivery (Web-based, On-premise, Cloud-based), By Component (Software, Services), By End User (Pharmaceuticals & Biotechnology Companies, CROs, Research Hospitals, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share Outlook, and Opportunity Analysis, 2023-2030

Clinical Trial Management System Market Overview

The Global Clinical Trial Management System Market reached USD 1.5 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 4.2 billion by 2030. The global clinical trial management system market is expected to exhibit a CAGR of 14.6% during the forecast period (2023-2030).

A Clinical Trial Management System (CTMS) is a software solution designed to streamline and automate clinical trial management. It provides several benefits that improve clinical trial procedures' efficiency, accuracy, and compliance. Furthermore, the rapid growth of IoT in healthcare and increasing the number of clinical trials, are driving up the clinical trial management system market size. Due to the massive healthcare expenditure in countries like the U.S. and Canada, the market is seeing an increase in demand from the North American region. With significant competitors like Oracle, BioClinica, Medidata (Dassault Systèmes), and others actively operating in the market the clinical trial management system market is expected to show significant growth in the forecast period.

Clinical Trial Management System Market Scope

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Clinical Trial Management System Market Dynamics

Rising Clinical Trials Will Drive the Market Growth

The number of clinical studies has expanded dramatically over the last two decades. This is due to the increasing penetration of cutting-edge medical technologies, as well as the increased desire for innovative, more efficacious treatments.

For instance, as of June 2022, globally, 419,000 clinical trials were registered, including almost 80% interventional research and 23% observational studies, according to the US National Library of Medicine. Furthermore, according to the WHO International Clinical Trials Registry Platform (ICTRP), the United States (157,619) had the most clinical trials registered between 1999 and 2021, followed by China (80,000) and Japan (57,750).

Although clinical trial management systems are used to collect and organize data, they are both cost and time effective. They can be shared with numerous care providers and scattered throughout multiple systems. These technologies can aid in site identification and recruitment, as well as control and tracking of participant enrolment and participant databases. As a result, the increase in clinical studies contributes to market growth.

Investments and Strategies By the Key Players Help to Drive the Market Growth

Key firms’ investments and strategies contribute to market growth. For instance, On June 29, 2021, the pandemic altered the way we conduct medical research, and firms are now attempting to determine which patterns will persist and which will go. A requirement for speed and flexibility in treatment trials is one that 4G Clinical hopes will outlast the epidemic. In addition, 4G Clinical has announced a $200 million growth equity investment sponsored by Goldman Sachs. Prior to Goldman, the principal investors were Boston-based Schooner Capital and Chicago-based First Analysis.

Additionally, as per the European Federation of Pharmaceutical Industries and Associations' 2022 report, pharmaceutical R&D expenditure in Europe in 2020 was EUR 39,650 million, USD 72,500 million in the United States and CNY 78,450 million in China. Thus, the recent significant expenditure in clinical trials and R&D has supported market growth for clinical trial management systems.

Lack of Skilled Professionals will Hamper the Market Growth

One of the key issues of the clinical trial management system market is a scarcity of qualified specialists. This is owing to the technology's complexity and the requirement for specialized expertise to efficiently manage clinical trials. Furthermore, a lack of clinical trial professionals might cause delays in the trial process, resulting in greater expenses and decreased efficiency. As a result, organizations require qualified personnel to properly administer clinical trials and assure data collecting accuracy and precision.

Clinical Trial Management System Market Segment Analysis

The global clinical trial management system market is segmented type, mode of delivery, component, end user, and region.

The Software Segment is Expected to Hold a Dominant Position Accounting for 39.7% of the Market Over the Forecast Period

Clinical trial management system software is required for effective clinical trial management and execution. It increases efficiency, accuracy, compliance, and teamwork, resulting in faster study completion, lower costs, higher data quality, and increased patient safety. Factors such as increased industry support, the presence of real-time data tracking, and user-friendly technologies all contribute to segment growth.

For instance, CTMS software provides tools for designing and planning clinical trials. It enables the creation of study protocols, defines study milestones, and manages study timelines and resources. This allows for effective coordination, efficient allocation of resources, and better study planning.

Additionally, on January 26, 2022, Clarify Health, a healthcare and life sciences platform analytics firm, released Clarify Trials software to boost clinical trial participant recruiting from underrepresented populations. More than 400 social determinants of health (SDoH) are used by the cloud software to assist research locations and investigators in increasing the variety of patients recruited in their trials.

Source: DataM Intelligence Analysis (2023)

Clinical Trial Management System Market Geographical Share

North America holds a Dominant Position Accounting for 40.7% of the Global Clinical Trial Management System Market

North America dominated the global clinical trial management systems market, with the United States emerging as the market's largest contributor. Factors such as increased R&D spending and an increase in demand for medication development are assisting in the expansion of the country's market. 

According to ClinicalTrials.gov, there were 173,000 clinical trials in North America as of July 2022, with 155,450 of those taking place in the United States. The rising number of studies and clinical trials, together with increased financing for clinical research, is expected to propel the industry forward. 

Source: DataM Intelligence Analysis (2023)

Clinical Trial Management System Market Companies

The major global players in the market include Oracle, IQVIA Inc., RealTime Software Solutions, LLC, Bio-Optronics, Medidata (Dassault Systèmes), BioClinica, Clario, Forte Research Systems, SimpleTrials, and Calyx, among others.

COVID-19 Impact on Clinical Trial Management System Market

Russia-Ukraine War Impact Analysis

The Russia-Ukraine is estimated to have a minimal impact on the global clinical trial management system market owing to the low prevalence and absence of key market players in this region. However, the impact of the import and export of raw materials, test Types, and devices is anticipated to have little influence over the global clinical trial management system market in the forecast period.

Artificial Intelligence Impact Analysis

Artificial intelligence is anticipated to impact positively as AI algorithms can analyze clinical trial data to identify patterns, trends, and predictive insights. Machine Learning (ML) algorithms can identify potential risks, predict patient outcomes, and optimize trial design. This aids in decision-making, protocol development, and resource allocation, ultimately improving trial efficiency and outcomes.

By Type 

• On-Site CTMS
• Enterprise-wide CTMS

By Mode of Delivery 

• Web-based
• On-premise
• Cloud-based

By Component 

• Software
• Services

By End User

• Pharmaceuticals & Biotechnology Companies
• CROs
• Research Hospitals
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On April 21, 2022, Bristol Myers Squibb implemented Veeva Vault CTMS internationally to drive end-to-end trial management, according to Veeva Systems. The new CTMS replaced an older Celgene CTMS and an older Bristol Myers Squibb CTMS, and it is strongly connected with Veeva's eTMF and Study Startup programs. The entire implementation process took less than 20 months.
• On August 17, 2021, Verily is working to acquire SignalPath, a North Carolina-based software company, in order to fulfill its goal to broaden the reach of Project Baseline, its clinical research platform. SignalPath's eponymous technology, like Baseline, strives to make the entire clinical trial process more efficient.
• On March 29, 2022, THREAD, the leading provider of technology and consulting services for electronic clinical outcome assessments (eCOA) and organized clinical trials (DCTs), announced that it partnered with Amazon Web Services, Inc. (AWS) to launch enhancements to the THREAD platform powered by enterprise-scale automation and built-in AI-driven technologies.

Why Purchase the Report?

• To visualize the global clinical trial management system market segmentation based on type, component, mode of delivery, end user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of clinical trial management system market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Type mapping available in Excel consisting of key types of all the major players.

The Global Clinical Trial Management System market report would provide approximately 53 tables, 54 figures, and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies