Clinical Trials Management System Market Worth $4.72 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Jan. 16, 2023 /PRNewswire/ -- The global clinical trials management system market size is anticipated to reach USD 4.72 billion by 2030, expanding at a CAGR of 14.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. The key factors driving the market growth include the rising number of clinical trials, digitalization across healthcare R&D, number of decentralized trials, and product enhancements. The Clinical Trial Management System (CTMS) offered by SimpleTrials, for instance, includes features such as contact management, calendar & monitoring, project planning, document management & eTMF, contract & payment system, subject tracking, visit report authoring & letter generation, EDC integration, and reporting and business analytics.

Key Industry Insights & Findings from the report:

• The Clinical Trials Management System (CTMS) market was valued at USD 1.66 billion in 2022 and is expected to expand at a CAGR of 14.3% during the forecast period.
• Rising prevalence of chronic diseases, number of clinical studies, initiatives by market players, and flow of R&D investments are expected to drive the market growth during the forecast period.
• The increasing demand for interoperable solutions and adoption of AI and machine learning (ML) in healthcare are other key factors fueling market growth.
• Clinical Trial Management System is one of the three applications of IQVIA's Digital Trial Management Suite. It is designed to improve patient safety, produce faster trials to database lock, and speed up time to market.
• IQVIA's CTMS solution uses both AI and ML to provide predictive intelligence and also increases interoperability with EDC.
• The web & cloud-based segment dominated the market by delivery mode in 2022. It is also expected to grow at the highest CAGR of about 14%. This is owing to increasing adoption of cloud-based technologies and enterprise-wide applications of CTMS solutions.
• By solution type, the enterprise segment, held the largest share of the market and is also projected to grow the fastest in the near future.

Read 120-page market research report, "Clinical Trials Management System Market Size, Share & Trends Analysis Report By Solution Type, By Delivery Mode (Web & Cloud-based, On-premise), By Component (Software, Services), By End-user, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Clinical Trials Management System Market Growth & Trends

The COVID-19 pandemic resulted in several challenges in conducting and operating clinical trials. As per a survey published by Oracle in 2021, 12% reported that clinical trial activity was paused. These respondents represented professionals involved in clinical trials at CROs, medical device companies, and biopharmaceutical companies. However, the urgency to develop vaccines and other treatment options supported the adoption of emerging technologies. These included video visits, phone visits, remote monitoring, eConsent, and EHR. In fact, about 76% of respondents reported that the pandemic catalyzed their adoption of decentralized clinical trial methods. The trend is projected to continue post-COVID and is expected to propel the demand for CTMS solutions.

Increasing investments by pharmaceutical and biotechnology companies, medical device companies, and CROs coupled with government funding are promoting research activities. This factor is expected to boost demand for clinical trial management systems. According to The International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), global research-based biopharmaceutical industry has spent around USD 179 billion on R&D in 2018. This number was estimated to reach USD 202 billion by 2022. These investments facilitate the development of new medicines and vaccines to prevent and treat diseases. Some of the popular therapeutic areas for drug development include cancer, immunology, neurology, infectious diseases, and others.

Clinical Trials Management System Market Segmentation

Grand View Research has segmented the clinical trials management system market based on solution type, delivery mode, component, end-user, and region

Clinical Trials Management System (CTMS) Market - Solution Type Outlook (Revenue, USD Million, 2017 - 2030)

• Enterprise
• Site

Clinical Trials Management System (CTMS) Market - Delivery Mode Outlook (Revenue, USD Million, 2017 - 2030)

• Web & Cloud-based
• On-premise

Clinical Trials Management System (CTMS) Market - Component Outlook (Revenue, USD Million, 2017 - 2030)

• Software
• Services

Clinical Trials Management System (CTMS) Market - End-user Outlook (Revenue, USD Million, 2017 - 2030)

• Pharmaceutical and Biotechnology Firms
• Medical Device Firms
• CROs & Others

Clinical Trials Management System (CTMS) Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Netherlands
• Belgium
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Thailand
• Singapore
• Malaysia
• Indonesia
• Philippines
• Rest of APAC
• Latin America
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• MEA
• South Africa
• Saudi Arabia
• UAE
• Rest of Middle East & Africa

List of Key Players in the Clinical Trials Management System Market

• IQVIA Inc.
• Medidata (Dassault Systèmes)
• Oracle
• DATATRAK International, Inc.
• Clario
• SimpleTrials
• Calyx
• RealTime Software Solutions, LLC
• Laboratory Corporation of America Holdings
• Veeva Systems
• Wipro Limited
• PHARMASEAL International Ltd.

Check out more related studies published by Grand View Research:

• AI-based Clinical Trials Solution Provider Market - The global AI-based clinical trials solution provider market size is expected to reach USD 7.8 billion by 2030 and is expected to expand at a CAGR of 22.0% over the forecast period, according to a new report by Grand View Research, Inc. AI is a versatile tool and is being increasingly utilized to improve the operational efficacy of drug studies and accelerate the drug discovery process. Also, it is highly adopted to minimize the cost of the drug development process. Various academia and pharmaceutical companies are actively adopting AI-based platforms and technologies. For instance, in January 2020, Bayer entered into a partnership with an AI-driven drug discovery company based in the UK to work on early research projects using the AI drug discovery platform. Furthermore, the initiatives by the public and private sectors to boost the R&D coupled with the diverse applications provided by AI in the field of drug studies are impelling the growth.
• Clinical Trials Market - The global clinical trials market size is expected to reach USD 78.3 billion by 2030, registering a CAGR of 5.8% during the forecast period, according to a new report by Grand View Research, Inc. An increase in the volume and complexity of clinical trials has been witnessed lately, which plays an important role in the R&D of new drugs and products. The market witnessed a decline of 6% in 2020 owing to the COVID-19 pandemic. However, the market is projected to recover from 2021 onwards. In addition, clinical trials have become increasingly costly, adding to the overall cost of developing a drug.
• Clinical Trials Matching Software Market - The global clinical trials matching software market size is expected to reach USD 396.1 million by 2030, based on a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 13.8% from 2022 to 2030. The significant increase in the number of ongoing clinical trials is likely to drive the market. In addition, the growing adoption of the clinical trial matching software catering to the clinical trials, along with the increased demand for virtual trials and automation in the healthcare sector are some of the key factors contributing to the market growth. The matching software help in effective and fast patient matching with patient-centric approaches.

Browse through Grand View Research's  Healthcare IT Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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