According to a recent market study published by Growth Market Reports, titled, “Global Clinical Trial Platform Market by type, feature, end user and regions: Size, Share, Trends and Opportunity Analysis, 2015-2030”, the market was valued at USD 1,390.3 Million in 2021 and is expected to grow at a lucrative growth rate of 14.6% by the year 2030. The rising number of clinical trials and increasing R&D activities are expected to fuel the market during the forecast period.

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As per Growth Market Reports industry analyst Akash Vedpathak, “key factors that are anticipated to fuel the demand for the global clinical trial platform market during the forecast period are the rising number of clinical trials, increasing R&D activities, demand for a Cloud-based model, and Unified platform. Conversely, high cost and lack of skilled professionals hamper the growth of the clinical trial platform market. Technological advancements and increasing demand from end-use industries are expected to create opportunities in the market.”

Clinical trial platform is a platform that provides smooth trial management and delivery with several technologies such as participant pre-screening, eConsent, multi-factor identification verification, virtual training, live chat, electronic patient-reported outcomes (ePRO), and electronic clinical outcome assessment (eCOA), A good clinical trial platform provides a modular, end-to-end structure that covers the complete clinical trial journey. Sponsors can carefully employ virtual features that match the study's demand and aim within this cost-effective framework.

Value chain management is a pivotal part of any business. A value chain involves a series of steps to get clinical trial platforms from their primary state to customers. These steps include development, engagement with customers, and delivering and supporting the clinical trial platform. Entities in the value chain include vendors, the integration team, the in-house design team, developers, testing, marketers and the end-users.

The primary, as well as secondary research methodology, is used for keen observation and study of the clinical trial platform market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews were conducted with the stakeholders across industry verticals at regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments.

Validation of the estimated market size, and current and future trends done by the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess experience of around 10-20 years in the industry. On the other hand, the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs.

Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases were analyzed for macro & microanalysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The Coronavirus disease 2019 (COVID-19) pandemic caused delayed subject enrollment and operational gaps in a majority of ongoing clinical trials, as a result, trial programs and data integrity were slowed down. Globally, most facilities performing clinical trials other than COVID-19 experienced timeline delays. The COVID-19 pandemic had a significant impact on the clinical trial platform market. This included disruptions in clinical trials, difficulties in patient recruitment, and canceled or delayed studies initially.

However, the adverse impact was eventually mitigated by a number of strategic steps implemented by regulatory organizations, governments, and market parties to assure the continuation of R&D. The need to develop a coronavirus vaccine increased the need for decentralized clinical trials. This increased the adoption of clinical trial platforms by CROs and various pharmaceutical companies, thus boosting the global clinical trial platform market growth.

Key Takeaways from the Study:

  • Based on type, The web-based segment held a dominant share of the market in 2021, as the web-based clinical trial platform is easy to use across multiple sites with a large group of users.
  • On the basis of features, the EDC segment held a dominant share of the market in 2021, as these systems are widely used eClinical tools. EDCs have CDISC-compliant templates making it easy to design and export electronic case report forms (eCRFs).
  • In terms of end-users, the pharmaceutical & biotechnology companies segment dominated the global market in 2021 as the clinical trial platform software is used by numerous pharmaceutical and biotechnology companies to streamline the entire clinical trial process.

Report Scope:

Report Metric

Details

Market Value in 2021

USD 1,390.3 Million

Market Growth Rate (from 2021 to 2028)

14.6%

Historical Data

2015 to 2020

Base Year

2021

Forecast Period

2022 – 2030

Units Considered

Value (USD Million)

Market Segments

By Type, By Feature, and By End User

Key Companies Profiled

Clario, Veeva Systems Inc., Medidata, Medable, Inc., Tata Consultancy Services Limited, Cognizant Technology Solutions Corp, Accenture, HCL Technologies Limited, THREAD, Obvio Health USA, Inc., Cloudbyz, SyMetric

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

Target Audience:

Demand Side: Pharmaceutical & Biotechnology Companies, Contract Research Organizations (CROs), Medical Device Manufacturers, and Others
Regulatory Side: Concerned government authorities, and other regulatory bodies.