Clinical Data Management Systems (CDMS) Market Report 2024-2033: Global Outlook, Growing Demand, Rising Trends And Major Players

"The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the Clinical Data Management Systems (CDMS) Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
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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Key Market Players:
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.

Market Drivers:
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.

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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

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