According to Emergen Research, the global clinical trial software market size was USD 900.3 Million in 2020 and is expected to reach USD 2,862.0 Million in 2028 and register a revenue CAGR of 15.6% during the forecast period, 2021-2028.
Emergen Research has published its latest report titled “Clinical Trial Software Market, By Deployment (Cloud, On-premises), By Delivery Model (Web-based, Licensed Enterprise, Software as a Service), By End-use (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Medical Device Manufacturers, Others), and By Region, Forecast to 2028”
According to Emergen Research, the global clinical trial software market size was USD 900.3 Million in 2020 and is expected to reach USD 2,862.0 Million in 2028 and register a revenue CAGR of 15.6% during the forecast period, 2021-2028.
Market Dynamics:
The global clinical trial software market revenue growth has registered significant revenue growth over the recent past due to factors such as rising burden of chronic and infectious diseases worldwide, growing targeted patient population, increasing need for development of new drugs and therapeutics, and rapid adoption of clinical trial management software and solutions to streamline clinical trial processes and workflow. Rising adoption of AI and cloud-based technologies, advanced biometric devices, cutting-edge data analytics, and connected devices and wearables has streamlined and improved clinical trial processes significantly.
Pharmaceutical and biotechnology companies and CROs need clinical trial management solutions to improve the safety and efficacy of clinical trial processes, facilitate patient recruitment and retention, streamline financial management, and ensure regulatory compliances are met. Hence, rising focus of life sciences companies on conducting decentralized or virtual clinical trials to enable real-time patient monitoring, accelerate clinical development timelines, and reduce financial burdens is a major factor driving the global market revenue growth.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Web-based Delivery Model Segment Accounted for Largest Revenue Share in 2020:
The web-based segment held the largest revenue share in the global market in 2020, owing to factors such as increasing preference for web-based clinical trial software and solutions due to advantages such as cost-efficiency, improved productivity, and easy accessibility. Web-based clinical trial solutions enable faster deployment of protocols, reduce clinical trial life cycle, provide easy access to web-interfaces, and help save on R&D costs and time.
Pharmaceutical & Biotechnology Companies Segment to Account for Fastest Revenue CAGR:
The pharmaceutical & biotechnology companies segment is projected to register the fastest revenue CAGR over the forecast period. Rising focus on development of new drugs and therapeutics, growing adoption of advanced clinical trial management solutions to streamline and automate clinical research and trials, and increasing need for clinical trial management software for clinical trial disclosure and risk-based monitoring are expected to drive this segment’s growth.
North America Accounted for Largest Revenue Share in 2020:
North America clinical trial software market dominated other regions in terms of revenue share contribution in the global market in 2020. Rise in geriatric population, growing prevalence of chronic and infectious diseases, increasing R&D new drug development, and increasing focus on conducting virtual clinical trials are key factors boosting revenue growth of the North America market. Increasing adoption of cloud-based and SaaS-based clinical trial management solutions, rising government investments in the pharmaceutical and biotechnology sectors, and presence of key market players such as Johnson & Johnson, Pfizer Inc., Oracle Corporation, and Bristol Myers Squibb further drive the regional market revenue growth.
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Major Companies in the Global Clinical Trial Software Market Include:
- Johnson & Johnson
- Roche
- Sanofi
- Pfizer Inc.
- Merck & Co., Inc.
- GlaxoSmithKline Plc
- Novo Nordisk A/S
- Amgen Inc.
- Bristol Myers Squibb
- Novartis International AG
- 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.
- ArisGlobal LLC
For the purpose of this report, Emergen Research has segmented the global clinical trial software market based on deployment, delivery model, end-use, and region:
Deployment Outlook (Revenue, USD Million; 2018–2028)
- Cloud
- On-premises
Delivery Model Outlook (Revenue, USD Million; 2018–2028)
- Web-based
- Licensed Enterprise (On-premise)
- Software-as-a-Service (SAAS)
End-use Outlook (Revenue, USD Million; 2018–2028)
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations (CROs)
- Medical Device Manufacturers
- Others
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Region Outlook (Revenue, USD Million; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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