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How has the clinical trial software market grown in recent years?

The clinical trial software industry has experienced swift expansion in the recent past and is projected to increase from $1.16 billion in 2024 to $1.33 billion in 2025, at a compounded annual growth rate (CAGR) of 14.4%. Various factors that brought about this surge in the historic period include heightened demand for the latest software, broader tech adoption, more digitalization in clinical trials, a growing dependence on cloud computing, and a rise in the quantity of small to mid-sized biopharmaceutical businesses.

How is the clinical trial software market size expected to evolve during the forecast period?

The market size of clinical trial software is projected to experience swift expansion in the coming years, reaching $2.25 billion in 2029 with a 14.1% compound annual growth rate. The boost during the forecasting period can be linked to factors such as increasing clinical research activities, popularity of virtual trials, demand for patient-centric clinical trial solutions, necessitating specialty medicines, and the rising occurrence of venous diseases. Significant trends projected for the forecast duration incorporate developments in technology, applications of artificial intelligence (AI), continuous improvements and novelty in technological means, the implementation of AI and machine learning, along with fusion with real-world data inputs.

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Which key drivers are propelling the clinical trial software market’s growth?

The clinical trial software market is expected to expand significantly due to increased research and development activities. These activities entail a systematic approach to the exploration, design, and testing of new products or technologies with the intention of improving current solutions or introducing entirely new ones. The demands for novel ideas across various industries are growing, spurred by technological advancements, competitive business environments, and the quest for sustainable solutions. This, in turn, encourages organizations to allocate more resources to developing new products, processes, and commands. Clinical trial software enhances research and development efforts by improving the organization, execution, and overseeing of clinical trials essential for evaluating new medications and treatments. For example, the Office for National Statistics, a government department in the UK, stated in April 2024 that in 2022, the UK government’s research and development expenditures rose by 10.5% to £15.5 ($19.67) billion, up from £14.0 ($17.77) billion in 2021. Consequently, the rise in research and development activities propels the growth of the clinical trial software market.

What are the market segments in the clinical trial software industry?

The clinical trial software market covered in this report is segmented –

1) By Deployment: On-Premises, Web-Based Clinical Trial Software, Cloud-Based Clinical Trial Software, Other Deployments

2) By Software: Electronic Data Capture (EDC), Electronic Clinical Outcome Assessment (eCOA) Or Electronic Patient-Reported Outcome (ePRO), Electronic Informed Consent

3) By End-User: Pharmaceutical And Biotechnology Companies, Contract Research Organizations (CROs), Medical Device Manufacturers, Other End-Users

Subsegments:

1) By On-Premises: Enterprise Clinical Trial Management Systems, Site-Based Clinical Trial Solutions

2) By Web-Based Clinical Trial Software: Electronic Data Capture (EDC) Systems, Clinical Trial Management Systems (CTMS), Randomization And Trial Supply Management (RTSM)

3) By Cloud-Based Clinical Trial Software: Software-as-a-Service (SaaS) Platforms, AI-Powered Clinical Trial Solutions, Remote Monitoring And Decentralized Trial Systems

4) By Other Deployments: Hybrid Clinical Trial Solutions, Custom-Built Clinical Trial Software

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Which leading companies are shaping the growth of the clinical trial software market?

Major companies operating in the clinical trial software market are International Business Machines Corporation, Oracle Corporation, Wipro Limited, Veeva Systems, Medpace Holdings Inc., Medidata Solutions, Signant Health Inc., Clario Inc., Advarra Inc., Celerion Inc., Veristat LLC, Greenphire Inc., Medrio Inc., Arisglobal LLC, Anju Software Inc., ClinCapture Inc., Palleos Healthcare GmbH, OpenClinica LLC, Pharmaseal International Limited, SoftFormance

What are the key trends shaping the future of the clinical trial software market?

Leading corporations in the clinical trial software market are concentrating on developing cutting-edge technologies such as unified trial solutions to improve data collection and integration, enhance patient participation, simplify trial procedures, cut expenses, and speed up the general drug development timeline. The term Unified Trial Solution pertains to an all-inclusive digital platform created to refine and boost the clinical trial process. For example, in November 2023, AstraZeneca plc, a pharmaceutical corporation based in the UK, launched Evinova, a technology that incorporates AI in clinical research. This state-of-the-art platform has distinctive features like automated patient enrolment, utilising AI-based algorithms for swift matching of candidates with trial criteria, therefore considerably decreasing the enrolment time. It also encompasses predictive modelling tools that process historical and real-time data to predict patient reactions, improving the framework and effectiveness of trials. With its intuitive interface, it promotes higher patient engagement through digital platforms for interaction and feedback, making it simpler for participants to convey their experiences.

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Which geographic areas are influencing the growth of the clinical trial software market?

North America was the largest region in the clinical trial software market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the clinical trial software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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