The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Clinical Data Management Systems (CDMS) Global Market Report 2024, the clinical data management systems (CDMS) market is expected to show significant growth in the forecast period.

Market Growth Overview

• Rapid Growth: The clinical data management systems (CDMS) market has experienced significant growth, expanding from $2.53 billion in 2023 to $2.89 billion in 2024, with a compound annual growth rate (CAGR) of 13.8%.
• Historic Drivers: Key factors contributing to this growth include stringent regulatory requirements, an increasing volume of clinical data, a focus on data accuracy and quality, a rise in multicenter clinical trials, and increased outsourcing of clinical trials.

Future Market Projections

• Continued Expansion: The CDMS market is expected to continue its rapid growth, reaching $4.74 billion by 2028, with a CAGR of 13.2%.
• Forecast Drivers: This growth will be driven by the adoption of risk-based monitoring, patient-centric trial designs, the increased use of real-world evidence (RWE), the globalization of clinical trials, a focus on interoperability, and an emphasis on decentralized and virtual trials.
• Emerging Trends: Major trends include the integration with electronic health records (EHR), the use of artificial intelligence in data analysis, risk-based monitoring, mobile health (mHealth) integration, and compliance with data privacy regulations.

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Evolving Role of CDMS in Clinical Trials

• Enhanced Research Reliability: The increasing volume and complexity of clinical trials are expected to propel the growth of the CDMS market. Clinical data management systems ensure accurate data collection, integration, and availability for analysis, enhancing the reliability and speed of research findings.
• Volume Increase: According to ClinicalTrials.gov, the number of clinical trials publishing findings increased from 4,024 in 2022 to 5,063 in 2023, highlighting the growing demand for robust CDMS solutions.

Key Market Players

• Major Companies: Key players in the CDMS market include Oracle Corporation, IQVIA Inc., Dassault Systèmes SE, PAREXEL International Corporation, Epic Systems Corporation, Veeva Systems Inc., Medical Information Technology Inc.

Technological Advancements

• Health Intelligence Platforms: Companies in the CDMS market are focusing on developing new technologies, such as health intelligence platforms, to enhance their market profitability. These platforms leverage data analytics and artificial intelligence to improve efficiency, accuracy, and insights from clinical trial data.
• Orion Health’s Orchestral: In April 2023, Orion Health Group Limited launched Orchestral, a versatile health intelligence platform that supports cloud or on-premises setups, integrating advanced features such as machine learning, natural language processing (NLP), and seamless data integration.

Strategic Acquisitions

• Ennov Group’s MACRO Acquisition: In April 2022, Ennov Group acquired MACRO from Elsevier to enhance its suite of life sciences software with advanced electronic data capture (EDC) tools, aiming to provide a comprehensive and cost-efficient solution for clinical research.

Market Segmentation

• By Type: The CDMS market is segmented into paper-based systems, electronic data capturing systems, and hybrid systems.
• By Component: Segmentation includes software and services.
• By Deployment: The market is divided into on-premise and cloud-based systems.
• By End Use: Key end-users include contract research organizations (CROs), medical device companies, pharma/biotech companies, and other end uses.

Regional Insights

• North America: In 2023, North America was the largest region in the clinical data management systems market, driven by advanced healthcare infrastructure and a high volume of clinical trials.

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