According to Fact.MR’s most recent research, the global clinical trial management systems market is expected to grow from US$ 1.6 billion in 2024 to US$ 4.55 billion by the end of 2034. From 2024 to 2034, the need for clinical trial management systems is predicted to grow at a notable 11% CAGR.
The use of clinical trial management systems is growing along with the number and complexity of clinical studies being conducted in different countries. As research progresses, more sophisticated clinical trial management systems (CTMS) that leverage breakthroughs in hardware and software technologies are being created. These modern CTMS platforms are able to effectively manage complex research activities thanks to technological advancements in machine learning, artificial intelligence, cloud and web-based applications, and other areas.
Key Market Growth Drivers:
- The complexity of clinical trials is rising due to their multi-site design, large patient cohorts, and variety of treatment modalities. As a result, there is a growing need for clinical trial management systems.
- Clinical trial management solutions improve the management of complex research by streamlining the tracking and monitoring of trial operations, guaranteeing compliance and efficiency.
- Large datasets are produced by clinical trials, which call for efficient administration and analysis. Centralized data storage, immediate access, and smooth system interaction are provided by a CTMS.
- Clinical trial outsourcing to CROs is the current trend driving demand in the clinical trial management system industry. This procedure guarantees regulatory compliance, uniformity, and quality control while supervising a variety of research projects for several sponsors.
Competitive Landscape
Prominent firms in the clinical trial management system domain are increasingly prioritizing cloud-based solutions to provide their clientele with enhanced affordability, expandability, and ease of use. Because cloud-based clinical trial management solutions may offer real-time data interchange and remote access, they are growing in popularity.
- FindMyClinicalTrial Inc. (FMCT), a digital health start-up that creates patient engagement and recruitment solutions for clinical trials, announced a knowledge-sharing agreement with Mayo Clinic in June 2024 to advance and finish the development of its clinical trial platforms for patients, health centers, and research sites.
- In May 2024, Medidata, a US software company, and Worldwide Clinical trials, a contract research organization, increased their cooperation to enhance patient care and expedite clinical trials.
- Leading provider of cutting-edge clinical trial solutions, EDETEK, announced the release of CONFORM eClinical Version 5.1 in May 2024. The latest iteration offers a fully complete collection of components designed to enhance and accelerate clinical trial management.
