Dublin, May 03, 2024 (GLOBE NEWSWIRE) -- The "Clinical Data Management Systems (CDMS) Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
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 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 expansion observed in the historical period can be attributed to rigorous regulatory mandates, the escalating volume of clinical data, a heightened emphasis on data precision and quality, the proliferation of multicenter clinical trials, and a rise in the outsourcing of clinical trial operations. 
The anticipated growth in the forecast period can be attributed to the adoption of risk-based monitoring, patient-centric trial designs, the expanded utilization of real-world evidence (RWE), the globalization of clinical trials, a focus on interoperability, and an emphasis on decentralized and virtual trial methodologies. Major trends projected for this period encompass the integration with electronic health records (EHR), the incorporation of artificial intelligence in data analysis, the implementation of risk-based monitoring strategies, the integration of mobile health (mHealth) technologies, and compliance with data privacy regulations.
The growth of the clinical data management systems (CDMS) market is expected to be propelled by the increasing volume and complexity of clinical trials. Clinical trials, which are research studies conducted to assess medical, surgical, or behavioral interventions, rely heavily on clinical data management systems to ensure the accurate collection, integration, and accessibility of data for analysis. This enhances the reliability and expedites the process of deriving research findings. For example, according to ClinicalTrials.gov, a US government web resource, the number of clinical trials publishing findings rose from 4,024 in 2022 to 5,063 in 2023, underscoring the influence of the growing volume and complexity of clinical trials on the CDMS market's growth.
Key players in the clinical data management systems (CDMS) market are concentrating on developing novel technologies, such as health intelligence platforms, to enhance their market profitability. A health intelligence platform is an integrated technological solution that harnesses data analytics and artificial intelligence to optimize the efficiency, accuracy, and insights derived from managing clinical trial data.
North America was the largest region in the clinical data management systems market in 2023. The regions covered in clinical data management systems report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the clinical data management systems (CDMS) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Clinical data management systems (CDMS) are specialized software applications crafted to oversee and process data from clinical trials, ensuring precision, thoroughness, and uniformity. CDMS plays a pivotal role in upholding data integrity, facilitating regulatory adherence, and streamlining data examination and reporting within clinical trials.
The primary variants of clinical data management systems (CDMS) include paper-based systems, electronic data capture systems, and hybrid systems. Paper-based systems involve the utilization of physical paper for the collection and documentation of data from clinical trial participants on Case Report Forms (CRF). These systems comprise software and services accessible through diverse deployment methods such as on-premise and cloud-based solutions. They serve a multitude of purposes including deployment in contract research organizations (CROs), medical device companies, pharmaceutical/biotechnology firms, among others.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $2.89 Billion |
| Forecasted Market Value (USD) by 2028 | $4.74 Billion |
| Compound Annual Growth Rate | 13.2% |
| Regions Covered | Global |
Scope
Markets Covered:
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.
Key Companies Mentioned: Oracle Corporation; IQVIA Inc.; Dassault Systemes SE; PAREXEL International Corporation; Epic Systems Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
A selection of companies mentioned in this report includes
- Oracle Corporation
- IQVIA Inc.
- Dassault Systemes 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.
- EvidentIQ
For more information about this report visit https://www.researchandmarkets.com/r/cyxchg
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