Clinical Research Software Market Scope
Clinical Research Software is a software that is used by biotechnology and pharmaceutical industries in order to maintain and manage the planning, performing and reporting functions, along with participant contact information, tracking deadlines and milestones. The software helps in enrolment tracking, product management, comprehensive monitoring and site payments among others.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Clinical Research Software market throughout the predicted period.
Clindex (United States), Medrio (United States), REDCap (United States), OnCore (United States), OpenClinica LLC (United States), Medidata Solution (United States), Castor (The Netherlands), Clinical Studio (United States), Bio-Optronics, Inc. (United States), Data+ (United States) and MATRIX EDC (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are DATATRAK (United States), Veeva Systems (United States), DSG (United States), MasterControl (United States), ERT (United States), Forte Research Systems (United States), MedNet Solutions (United States) and ArisGlobal (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Clinical Research Software market by Type (Clinical Trial Management Software and Electronic Data Capture (EDC) Software) and Region with country level break-up.
On the basis of geography, the market of Clinical Research Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Spain, Ukraine, Norway, Russia, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In April 2021, Medrio Inc., which is the leading provider of eClinical technology to the pharmaceutical, biotech, medical device, diagnostics, as well as animal health markets, had thereby acquired HMD Clinical, which is a leading provider of randomization and trial supply management (RTSM). This acquisition would enable Medrio to expand its portfolio of proven eClinical technology solutions to various global sponsors, CROs, and locations. The acquisition would furthermore integrate HMD's expertise in RTSM with Medrio's expertise in electronic data collection, which also includes ePRO, eConsent, and eSource, and thus provides a unified, full-service eClinical suite. With this expanded offering, Medrio would be better positioned to meet its customers' needs, particularly for better study oversight and more accurate and complete data.
In July 2020, Medrio, Inc. announced the start of their new podcast series Trial Talks. Trial Talks is a new podcast series that focuses on clinical trials, patients, and curing disease with medical and technological innovations. Hosted by Medrio thought leaders, the first season of Trial Talks was focused on industry trends and challenges, unique solutions, and the industry's persistence through one of our toughest challenges, COVID-19.
According to ClinicalTrials.gov, in 2017, 262,433 clinical trials were carried out worldwide, which increased to 285,679 trials in 2018. Whereas, in the United States, 115,123 studies were carried out.
Market Trend
- Technology Advancement in Clinical Research Software
Market Drivers
- Increasing Investment by Pharmaceuticals and Biotechnology Companies
- Government Funding Promoting in Research Activities
Restraints
- Stringent Rules and Regulations Regarding Software and Security
- High Cost Associated With the Clinical Research Software
Challenges
- Lack of Awareness About the Clinical Research Software and Its Advantages Associated With It
- The dearth of Skilled Professionals
Key Target Audience
Distributors/Traders/Wholesalers/Suppliers, Regulatory Bodies, Including Government Agencies And NGO, Commercial Research & Development (R&D) Institutions, Government Organizations, Research Organizations, And Consulting Firms, Trade Associations And Industry Bodies and End-Use Industries