Clinical Trial Management Systems Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Clinical Trial Management Systems Market Analysis

The Clinical Trial Management Systems market is expected to register a CAGR of 8.5% during the forecast period (2022-2027).

The COVID-19 pandemic affected the clinical research activities as a large number of clinical studies on other diseases around the world were disrupted by the pandemic and the companies shifted their focus to the development of COVID-19 vaccines. In March 2020, the United States Food and Drug Administration (FDA) issued an updated guideline for conducting clinical trials during the pandemic as research participants and trial personnel were inaccessible for in-person scheduled study visits and/or follow-up due to social distancing and quarantine. On the other hand, amid the COVID-19 pandemic, the health systems of several countries invested in research and development to combat the virus. As per the study "Peptide-like and small-molecule inhibitors against Covid-19" published in May 2020, potential compounds were screened from the CHEMBL database, ZINC database, and Food and Drug Administration (FDA) approved drugs and molecules under clinical trials. As a result, COVID-19 had a favorable impact on the market’s growth over the pandemic phase. Moreover, in April 2020, Cytel Inc. launched an open-access global COVID-19 Clinical Trial Tracker that facilitated huge collaboration between researchers, policymakers, clinicians, journalists, philanthropists, and other critical stakeholders. Such developments greatly bolstered the demand for clinical trial management software and services during the outbreak, thereby positively impacting the market’s growth.

Moreover, the increasing number of clinical trials due to rising chronic diseases and lifestyle-related disorders and the increase in outsourcing of clinical trials and implementation by contract research organizations are the factors that are driving the market growth. As per the Alzheimer’s Association 2021 report, most people who develop Alzheimer’s dementia are aged 65 or older. This is called late-onset Alzheimer’s. In the United States, nearly 5.3% of people aged 65 to 74, 13.8% of people aged 75 to 84, and 34.6% of people aged 85 or older have Alzheimer’s dementia. Therefore, such an increase in the burden of chronic diseases is likely to drive the number of clinical trials conducted for specific diseases, which is in turn augmenting the adoption of clinical trial management systems, thereby driving the market’s growth.

Additionally, pharmaceutical and biopharmaceutical companies are heavily investing in research and development activities. For instance, as per the European Federation of Pharmaceutical Industries and Associations, 2022 report, pharmaceutical research and development expenditure in 2020 was EUR 39,656 million in Europe, USD 72,412 million in the United States, and CNY 78,460 million in China. Thus, this high investment in clinical trials and R&D over the last few years boosted the market growth for clinical trial management systems. Moreover, increasing innovative technological advancements to curb the increasing costs associated with clinical trials have resulted in the development of the clinical trial management system. For instance, in September 2021, Total Clinical Trial Management (TCTM) introduced a new brand, "TOTAL Diversity". TOTAL Diversity's core business will continue to be as a full-service CRO that provides its clients with on-time, high-quality clinical management services.

Thus, these aforesaid factors are expected to boost the market’s growth. However, data security issues and high costs associated with clinical trial management systems are the factors that are anticipated to restrain the market's growth.

Clinical Trial Management Systems Market Trends

This section covers the major market trends shaping the Clinical Trial Management Systems Market according to our research experts:

Pharmaceutical Segment is Expected to Exhibit Fast Growth Rate Over the Forecast Period

Clinical Trial Management Systems Industry Segmentation

As per the scope of the report, a clinical trial management system is a software system used to manage trials in clinical research. The system maintains and manages the planning, performance, and reporting functions, along with participants' contact information, tracking deadlines, and milestones along with the services. The Clinical Trial Management Systems Market is segmented by Delivery Mode (On-premise and Cloud-based), Component (Software and Services), End-User (Pharmaceuticals, Clinical Research organizations, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.