Press release
Clinical Trial Technology and Services Market to Reach USD 101.10 Billion by 2034, Growing at a CAGR of 15.3%
The global clinical trial technology and services market is expected to gain market growth during the forecast period of 2025-2034. Polaris Market Research analyses the market to account for USD 101.10 billion by 2034 and is expected to register a CAGR of 15.3% in the above-mentioned forecast period. The market was valued at USD 24.32 billion in 2024.
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Market Overview
Technological solutions continue to drive progress in medical research, particularly in the field of clinical trials. Similar to the influences it has had on everyday lives, digital technology has notably transformed the medical research landscape. The introduction of new technologies in clinical trials have impacted in several ways, including changes in research methodologies and the ways treatments are delivered.
Well-designed and controlled clinical trials serve as a criterion for establishing evidence in medical research. But traditional approaches often face significant challenges. Rapid technological advancement offers inventive solutions for many of these challenges, thus reshaping the clinical trials landscape. For example, electronic data capture (EDC) initiates digitizing data entry, enables researchers to garner, authenticate, and handle data electronically.
Market Drivers
Growing Complexity of Clinical Trials: Developing study designs, stringent regulatory requirements, and the rise of precision medicine are driving the need for more advanced solutions. For example, a May 2021 report from Tufts CSDD revealed that oncology trials, driven by innovative designs, a global scope, and targeted patient subpopulations, face longer durations, increased data requirements, and more protocol changes. These challenges are escalating implementation difficulties, despite the fact that faster regulatory reviews are contributing to the growth of the clinical trial technology and services market.
Rising Adoption of Digital Health Technologies: The adoption of digital health technologies is a prominent driver boosting the market share as the industry moves towards patient-concentrated and decentralized clinical trials (DCT). For instance, in November 2023, AstraZeneca introduced Evinova, a digital health solution provide supported by AstraZeneca, Parexel, and Fortrea.
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Key Market Players
Market competition is moderate. The key strategies used by competitors to establish and expand their presence in the market include collaborations, partnerships, and market expansion. The top players in the market are:
Allscripts Healthcare LLC
Aris Global LLC
Clinevo Technologies
Cognizant
DATATRAK International, Inc.
Ennov
IBM
IQVIA, Inc.
Koninklijke Philips N.V.
MasterControl Solutions, Inc.
Medidata (Dassault Systèmes)
Optum Inc.
Oracle
Veeva Systems
Segment Categorization
The report includes the segmentation of the clinical trial technology and services market based on technology solutions, phases, end use, and region. Based on technology solutions, the solutions segment dominated the market in 2024 due to the growing adoption of progressive digital platforms outlined to improve trial efficiency, data handling, and regulatory conformity.
Based on phases, the phase I segment is projected to witness the fastest growth owing to a growing aggregate of early clinical trials and the surging requirement for inventive technology solutions to enhance study design and implementation.
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Regional Overview
The clinical trial technology and services market is analyzed across various regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America led the market in terms of revenue in 2024, driven by a robust biopharmaceutical industry, strong regulatory frameworks, and significant investments in clinical research.
For example, in October 2023, HCA Healthcare and GRAIL partnered to introduce GRAIL's Galleri multi-cancer early detection (MCED) test at select HCA practices. This innovative blood test can detect over 50 types of cancers, aiming to improve early detection and ultimately reduce cancer mortality rates. North America also hosts numerous leading pharmaceutical companies, contract research organizations (CROs), and technology providers, which play a crucial role in fostering innovation and accelerating the adoption of advanced clinical trial solutions.
The region benefits from favorable regulatory policies, including expedited approval processes and initiatives promoting the adoption of digital trials. The growing emphasis on decentralized clinical trials, precision medicine, and the integration of AI-driven analytics further bolsters North America's dominant position in the clinical trial technology and services market. This makes the region a key hub for research and development activities, ensuring its leadership in advancing clinical trials worldwide.
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