The Virtual or decentralized trials is gaining prominence with the emergence of the COVID-19 pandemic, as it has enabled real-time patient monitoring, enabled faster and easier enrollment in real-time, improved patient retention, and accelerated clinical development timelines. Virtual clinical trial technologies accelerates clinical research by implementing advanced technological solutions, including social engagement platforms, e-monitoring devices, and software applications. With rapid adoption of digital solutions in the drug development process, clinical trial software is rapidly gaining traction, which is expected to boost revenue growth of the market over the forecast period.
The 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.
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Some Key Highlights From the Report
Pharmaceutical biotechnology companies segment is expected to account for largest revenue share over the forecast period owing to increasing adoption of clinical trial software to increase the efficiency of clinical trials, reduce time and costs involved in drug discovery, achieve compliance, and receive regulatory approval for newly developed novel drugs.
North America is expected to account largest revenue share over the forecast period due to increasing spending on RD activities, rising number of clinical trials, robust presence of clinical trial software vendors and increasing demand for web-based clinical trial management solutions.
On-cloud segment is expected to account for largest revenue share over the forecast period due to increasing adoption of cloud-based clinical trial management solution for offering various advantages such as flexibility, scalability, faster deployment, and ease of integration with other applications.
Software as a Service (SAAS) segment revenue is expected to expand at a rapid CAGR over the forecast period owing to rising popularity of SAAS platform for enabling high quality data capture, collaboration, real-time decision making and improving operational efficiency of clinical trials.
Some major companies operating in the global market include 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.
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)
On-Cloud
On-Premises
Delivery Outlook (Revenue, USD Billion; 2018–2028)
Web-Based
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
Others
Regional Outlook: (Revenue, USD Billion; 2018-2028)
North America (U.S.) (Canada) (Mexico)
Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (Rest of LATAM)
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Table of Content
Chapter 1. Methodology Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021–2028
Chapter 3. Key Insights
Chapter 4. Clinical Trial Software Market Segmentation Impact Analysis
4.1. Clinical Trial Software Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Rising prevalence of infectious, chronic and rare diseases
4.2.2.2. Rising number of clinical trials to discover novel drugs
4.2.2.3. Increasing need to accelerate drug development process
4.2.2.4. Increasing technological advancement in clinical trials
4.2.3. Market restraints analysis
4.2.3.1. High cost of clinical trial software
4.2.3.2. Lack of technical competence among healthcare professionals
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Continue…
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