Press release
Clinical Data Management Systems (CDMS) Global Market Report 2024: Optimizing Healthcare Data
Clinical Data Management Systems (CDMS)
The Business Research Company offers in-depth market insights through Clinical Data Management Systems (CDMS) Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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 growth in the historic period can be attributed to stringent regulatory requirements, growing volume of clinical data, focus on data accuracy and quality, rise in multicenter clinical trials, increased outsourcing of clinical trials.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 growth in the forecast period can be attributed to adoption of risk-based monitoring, patient-centric trial designs, increased use of real-world evidence (RWE), globalization of clinical trials, focus on interoperability, emphasis on decentralized and virtual trials. Major trends in the forecast period include integration with electronic health records (EHR), artificial intelligence in data analysis, risk-based monitoring, mobile health (mhealth) integration, compliance with data privacy regulations.
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Market Segmentation:
The clinical data management systems (CDMS) market covered in this report is segmented -
1) By Type: Paper-Based Systems, Electronic Data Capturing Systems, Hybrid Systems,
2) By Component: Software, Services
3) By Deployment: On-Premise, Cloud-Based
4) By End Use: Contract Research Organization (CROs), Medical Device Companies, Pharma/Biotech Companies, Other End Uses
Major Driver - Evolving Role Of Clinical Data Management Systems In Enhancing Research Reliability
The increasing volume and complexity of clinical trials are expected to propel the growth of the clinical data management systems (CDMS) market going forward. Clinical trials are research studies performed to evaluate a medical, surgical, or behavioral intervention. Clinical data management systems are essential for clinical trials as they ensure the accurate collection, integration, and availability of data for analysis, thereby enhancing the reliability and speed of research findings. For instance, in February 2024, according to ClinicalTrials.gov, a US-based government web resource, in 2022, 4,024 clinical trials published findings, which rose to 5,063 in 2023. Therefore, the increasing volume and complexity of the clinical trial population are driving the growth of the clinical data management systems (CDMS) market.
Competitive Landscape:
Major players in the clinical data management systems (CDMS) market are Oracle Corporation, IQVIA Inc., Dassault Systèmes 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.
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Top Trend - Revolutionizing Clinical Data Management With New Technology
Major companies operating in the clinical data management systems (CDMS) market are focused on developing new technologies, such as health intelligence platforms, to increase their profitability in the market. A health intelligence platform refers to an integrated technology solution that leverages data analytics and artificial intelligence to enhance efficiency, accuracy, and insights derived from clinical trial data management. For instance, in April 2023, Orion Health Group Limited, a New Zealand-based healthcare software company, launched Orchestral. Orchestral revolutionizes healthcare data management with a versatile platform that supports cloud or on-premises setups, integrating advanced features such as machine learning, NLP, and seamless data integration. This marks a significant advancement in health data analytics, enhancing decision-making in healthcare with unprecedented efficiency and flexibility.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Clinical Data Management Systems (CDMS) Market Characteristics
3. Clinical Data Management Systems (CDMS) Market Trends And Strategies
4. Clinical Data Management Systems (CDMS) Market - Macro Economic Scenario
5. Clinical Data Management Systems (CDMS) Market Size And Growth
…..
27. Clinical Data Management Systems (CDMS) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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