Rising prevalance infectious and chronic diseases and increasing technological advancement in clinical trials are some key factors driving global clinical trial software market revenue growth
The global clinical trial software market size reached USD 900.3 Million in 2020 and is expected to register a revenue CAGR of 15.6%, during the forecast period, according to latest analysis by Emergen Research. Increasing prevalence of infectious and chronic diseases is a key factor driving global clinical trial software market revenue growth. Increasing targeted patient population has increased the need for faster drug development, which is leading to rising demand for clinical trial management solutions to simplify the complexities associated with clinical trial processes and to streamline the entire clinical research workflow.
Increasing adoption of advanced technologies such as cloud-based solutions, biometric devices, Artificial Intelligence (AI), advanced analytics, connected devices, and wearables is significantly improving and streamlining clinical trials processes. Rapid development of new software applications have also contributed significantly in making clinical trials effective, reliable, and timely, and also enabled pharmaceutical and biotechnology companies and Contract Research Organizations (CROs) to conduct more successful clinical trials. Increasing availability of design tools, commercial databases, and security applications has enabled effective management of clinical trials ranging from data acquisition, data storage, electronic data capturing, Case Report Form (CRF) printing, preservation of CRF, and from data validation to site assessments. Clinical trial sites depends upon clinical trial management technology to improve the effectiveness and efficiency of clinical research, improve financial management, improve patient recruitment and retention process, improve protocol adherence, and ensure regulatory compliance is met. Rising focus on implementing virtual trials through utilization of advanced digital technologies to reduce financial and time burdens of life science companies is expected to boost revenue growth of the market.
A novel report on global Clinical Trial Software market is published by Emergen Research, offering current developments and emerging trends of the market. The report offers a comprehensive overview of the market along with details about market size, market share, revenue growth, and top companies. The report covers all crucial and essential information related to global Clinical Trial Software market to help readers, investors, clients to gain a thorough understanding of the market and invest accordingly. Various advanced statistical tools such as SWOT analysis or Porter’s Five Forces are used in the report.
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The primary aim of the report is to offer market overview, product scope, growth prospects, and risks. The report also offers in depth information about each player in the global Clinical Trial Software market along with its global standing, financial status, product launch, business expansion plans among others. The market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.
Companies profiled in the global Clinical Trial Software market:
Medidata Solutions Inc., International Machine Business Corporation (IBM), Oracle Corporation, Parexel International Corp., RealTime Software Solutions LLC, BioClinica Inc., MasterControl Inc., MedNet Solutions Inc., Veeva Systems Inc., and ArisGlobal LLC.
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The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
Clinical Trial Software Market segmentation
Emergen Research has segmented the global clinical trial software market on the basis of deployment, delivery, end-use, and region:
Deployment Outlook (Revenue, USD Billion; 2018–2028)
Delivery Outlook (Revenue, USD Billion; 2018–2028)
Licensed Enterprise (On-Premise)
Software as a Service (SAAS)
End-use Outlook (Revenue, USD Billion; 2018–2028)
Pharmaceutical & Biotechnology Companies
Contract Research Organizations (CROs)
Medical Device Manufacturers
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Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Outlook of Clinical Trial Software Market:
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
Key Features of the Clinical Trial Software Market Report:
The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
Evaluation of key current and emerging market trends and growth prospects
It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
Brief overview of industry with regards to research and development, technological advancements, and product development
In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario
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