PUBLISHER: The Business Research Company | PRODUCT CODE: 1458773
PUBLISHER: The Business Research Company | PRODUCT CODE: 1458773
Clinical data management systems (CDMS) are specialized software applications crafted to oversee and process data from clinical trials, ensuring precision, thoroughness, and uniformity. CDMS plays a pivotal role in upholding data integrity, facilitating regulatory adherence, and streamlining data examination and reporting within clinical trials.
The primary variants of clinical data management systems (CDMS) include paper-based systems, electronic data capture systems, and hybrid systems. Paper-based systems involve the utilization of physical paper for the collection and documentation of data from clinical trial participants on Case Report Forms (CRF). These systems comprise software and services accessible through diverse deployment methods such as on-premise and cloud-based solutions. They serve a multitude of purposes including deployment in contract research organizations (CROs), medical device companies, pharmaceutical/biotechnology firms, among others.
The clinical data management systems (CDMS) market research report is one of a series of new reports from The Business Research Company that provides clinical data management systems (CDMS) market statistics, including clinical data management systems (CDMS) industry global market size, regional shares, competitors with a clinical data management systems (CDMS) market share, detailed clinical data management systems (CDMS) market segments, market trends and opportunities, and any further data you may need to thrive in the clinical data management systems (CDMS) industry. This clinical data management system (CDMS) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The clinical data management systems (CDMS) market size has grown rapidly in recent years. It will grow from $2.53 billion in 2023 to $2.89 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The expansion observed in the historical period can be attributed to rigorous regulatory mandates, the escalating volume of clinical data, a heightened emphasis on data precision and quality, the proliferation of multicenter clinical trials, and a rise in the outsourcing of clinical trial operations.
The clinical data management systems (CDMS) market size is expected to see rapid growth in the next few years. It will grow to $4.74 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The anticipated growth in the forecast period can be attributed to the adoption of risk-based monitoring, patient-centric trial designs, the expanded utilization of real-world evidence (RWE), the globalization of clinical trials, a focus on interoperability, and an emphasis on decentralized and virtual trial methodologies. Major trends projected for this period encompass the integration with electronic health records (EHR), the incorporation of artificial intelligence in data analysis, the implementation of risk-based monitoring strategies, the integration of mobile health (mHealth) technologies, and compliance with data privacy regulations.
The growth of the clinical data management systems (CDMS) market is expected to be propelled by the increasing volume and complexity of clinical trials. Clinical trials, which are research studies conducted to assess medical, surgical, or behavioral interventions, rely heavily on clinical data management systems to ensure the accurate collection, integration, and accessibility of data for analysis. This enhances the reliability and expedites the process of deriving research findings. For example, according to ClinicalTrials.gov, a US government web resource, the number of clinical trials publishing findings rose from 4,024 in 2022 to 5,063 in 2023, underscoring the influence of the growing volume and complexity of clinical trials on the CDMS market's growth.
Key players in the clinical data management systems (CDMS) market are concentrating on developing novel technologies, such as health intelligence platforms, to enhance their market profitability. A health intelligence platform is an integrated technological solution that harnesses data analytics and artificial intelligence to optimize the efficiency, accuracy, and insights derived from managing clinical trial data. For instance, in April 2023, Orion Health Group Limited, a healthcare software company based in New Zealand, introduced Orchestral. Orchestral represents a significant advancement in healthcare data management, offering a versatile platform supporting both cloud and on-premises configurations and integrating advanced features such as machine learning, natural language processing (NLP), and seamless data integration. This innovation is poised to revolutionize health data analytics, facilitating more informed decision-making in healthcare with unprecedented efficiency and flexibility.
In April 2022, Ennov Group, a France-based software company specializing in life sciences, acquired MACRO from Elsevier, a publishing company headquartered in the Netherlands, for an undisclosed sum. Through this acquisition, Ennov aims to enhance its suite of life sciences software by integrating MACRO's advanced electronic data capture (EDC) tools, thereby providing a more comprehensive and cost-effective solution for clinical research. MACRO, a product line of Elsevier, was an EDC software solution catering to the needs of clinical trials.
Major players in the clinical data management systems (CDMS) market are Oracle Corporation, IQVIA Inc., Dassault Systemes SE, PAREXEL International Corporation, Epic Systems Corporation, Veeva Systems Inc., Medical Information Technology Inc., Clario, Merative L.P., Medrio Inc., Forte Research Systems Inc., Ennov Group, Axiom Real-Time Metrics Inc., MedNet Solutions, eClinical Solutions LLC, Deep 6 AI, Applied Clinical Intelligence LLC, ClinCapture LLC, OpenClinica LLC, Datatrak International Inc., CIMS Global LLC, Novaseek Research Inc., Ofni Systems, OmniComm Systems Inc., and EvidentIQ.
North America was the largest region in the clinical data management systems market in 2023. The regions covered in clinical data management systems report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the clinical data management systems (CDMS) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The clinical data management systems market consists of revenues earned by entities by providing services such as data collection, data validation, database design, query management, statistical analysis, and reporting. The market value includes the value of related goods sold by the service provider or included within the service offering. The clinical data management systems market also includes sales of electronic data capture (EDC) systems, eCRF designers, clinical trial management systems, and reporting and analytics tools that are used in providing services. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Clinical Data Management Systems (CDMS) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on clinical data management systems (cdms) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for clinical data management systems (cdms) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The clinical data management systems (cdms) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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