Clinical Trial Software Market Trends –Increasing focus on decentralized or virtual clinical trials
VANCOUVER, BC, CANADA, September 19, 2021 /EINPresswire.com/ — The Clinical Trial Software Market study sheds light on industry profiles across several countries and regions. The extensive document is a rich source of information on market size, share and growth rate. The industry profiles discussed in the Clinical Trial Software report further identifies market segmentation, profit, and competitive landscape and offers forecast information on industry performance and trends for the period, 2021 to 2028. The detailed report offers comprehensive analyses about a particular market situation within a geographic region.
The global clinical trial software market size reached USD 900.3 Million in 2020 and is expected to register a revenue CAGR of 15.6%, during the forecast period, according to latest analysis by Emergen Research. 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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Rising focus on implementing virtual trials through utilization of advanced digital technologies to reduce financial and time burdens of life science companies is expected to boost revenue growth of the market. 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.
Some Key Highlights From the Report
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.
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.
The Clinical Trial Software research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on the detailed analysis of the technological and product developments undertaken by these companies.
The report further divides the Clinical Trial Software market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Clinical Trial Software market.
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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)
Delivery Outlook (Revenue, USD Billion; 2018–2028)
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
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report addresses the following key points:
The report estimates the expected market size from 2020-2027
The report provides a forecast of market drivers, restraints, and future opportunities for the Clinical Trial Software market
The report further analyses the changing market dynamics
Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
Extensive competitive landscape mapping with profiles of the key competitors
In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
Revenue forecast, country scope, application insights, and product insights
The report is an all-inclusive document covering the market landscape and a futuristic perspective on its growth and progress. The report also provides an analysis of the entry-level driving and restraining factors for the new entrants contributing to the market. The report considers 2020 as the base year and 2019-2020 as the historical years. It puts examines drivers and restraints of the Clinical Trial Software market and analyzes their impact on the industry throughout the forecast period.
Have a look at Report Description and Table of Contents of Market Report@ https://www.emergenresearch.com/industry-report/clinical-trial-software-market
Table of Content
Chapter 1. Methodology & Sources
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
220.127.116.11. Rising prevalence of infectious, chronic and rare diseases
18.104.22.168. Rising number of clinical trials to discover novel drugs
22.214.171.124. Increasing need to accelerate drug development process
126.96.36.199. Increasing technological advancement in clinical trials
4.2.3. Market restraints analysis
188.8.131.52. High cost of clinical trial software
184.108.40.206. 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
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