Clinical Data Management Systems (CDMS) Market Analysis And Forecast To 2031: By Delivery Mode (Licensed Enterprise Solutions, Cloud-based Solutions, Web-hosted Solutions), By End-user (Contract Research Organizations, Medical Device Companies, Pharma/Bio

Clinical Data Management Systems (CDMS) Market Analysis And Forecast To 2031: By Delivery Mode (Licensed Enterprise Solutions, Cloud-based Solutions, Web-hosted Solutions), By End-user (Contract Research Organizations, Medical Device Companies, Pharma/Biotech Companies), And Region

The global clinical data management systems (CDMS) market was valued at USD 1.8 billion in 2021 and it is anticipated to grow up to USD 7.1 billion by 2031, at a CAGR of 14.7% during the forecast period.

Clinical data management system (CDMS) is one of the most important parts of digital clinical solutions that help deliver valid, error-free and statistical database. The tool is used in clinical research to store and manage the data of a clinical trial. The clinical trial data is then gathered at the investigator site in the case report form (CRF) and is stored in the CDMS.

Market Trends and Drivers

Several benefits offered by cloud and web-based data collection tools are primarily expected to spur the market size. The tools offer benefits such as ease in data entry and reduced time, flexibility in format, low cost, and the capability to capture extra response-set information. Previously, the data collected from medical research used to be stored in physical form and was not readily accessible. However, in recent years, the clinical data management (CDM) field has exhibited significant advancements shifting over 95% paper-based data entry to electronic data capture (EDC), moving towards digital-enabled trials. Also, the CDMS is noted to discover several ways to effectively consolidate different data sources into one centralized location and ensure that the user can review and validate data according to existing demands. Such advancements in CDMS along with the rising underlying demand from clinical trials is expected to foster the market forecasts.

Market Restraints and Challenges

Data collection leads to concerns surrounding patient privacy especially in electronic data capture segment that may act as barrier in the market growth. The rising exchange of databases amongst CROs, research institutions, software companies, and different stakeholders increases the risk of data breach. Smooth access and easy sharing usually require opening data so that data can be used and shared. This can further expose elements of a company to digital security threats potentially resulting into incidents such as data breach affecting the confidentiality, integrity or availability of data and information systems on which social and economic activities rely. Such rising concerns of data leakage may limit the adoption of clinical data management systems, thereby hampering the market expansion.

Global Clinical Data Management Systems (CDMS) Market Segmental Overview

The report analyses the global clinical data management systems (CDMS) market based on delivery mode, end-use, and region.

Global Clinical Data Management Systems (CDMS) Market by Delivery Mode

Based on delivery mode, the clinical data management system market is classified into licensed enterprise (on-premise) solutions, cloud based (SaaS) solutions and web-hosted (on-demand) solutions. Cloud-based (SaaS) solution segment accounted for highest revenue share in 2021 and is poised to grow at a significant CAGR over the forecast period. The segmental growth is attributed to technological developments in the healthcare sector and rising adoption of cloud-based solutions. The cloud-based model offers various advantages such as flexibility, collaboration, and scalability, among others. Such advantages associated with cloud-based solution will foster the market expansion. Additionally, the cloud-based model also eliminates the need for purchasing, maintaining, and deploying on-premises services, thus reducing installation and maintenance cost, thereby contributing to the overall market statistics.

Global Clinical Data Management Systems (CDMS) Market by End-user

Based on end-use, the clinical management data system market is segmented into contract research organization (CROs), medical device companies, pharma/biotech companies and others. The contract research organization (CRO) segment is expected to register a higher growth rate during the forecast period. Growing number of contract research organizations (CROs) across the globe is expected to supplement the market revenue. In addition, an increasing trend for outsourcing clinical trials to CROs, as it reduces the overall cost of drug development, is expected to further fuel the market demand. Further, clinical data management system (CDMS) along with electronic data capture (EDC) are one of the most prominent digital solutions adopted by several CROs to manage increasing volume of data. Thus, deployment of CDMS in several clinical research activities is anticipated to spur the market outlook over the coming years.

Geographical Analysis of Global Clinical Data Management Systems (CDMS) Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America clinical data management systems (CDMS) market revenue is poised to grow significant CAGR during the forthcoming years. High regional growth is attributed to the strong foothold of prominent pharma & biopharmaceutical companies along with CROs. Moreover, wide-ranging drug development activities in North America is expected to further boost the usage of clinical data management system. Additionally, increasing clinical research studies in the U.S. and a paradigm shift from manual data collection & analysis to real-time data analysis while conducting clinical research is anticipated to spur the expansion of the market in the region. Furthermore, rising concerns regarding effective management of large volumes of confidential data is expected to surge the acceptance of clinical data management system solutions, thereby augmenting the industry development.

Major Players in the Global Clinical Data Management Systems (CDMS) Market

The key players in the clinical data management systems (CDMS) market are

COVID-19 Impact

The outbreak of COVID-19 pandemic, healthcare industry was under massive pressure and suppliers around the world were noted to have affected by the growing number of cases. However, the COVID-19 pandemic was observed to have had a minimal impact on clinical data management systems market as most of the pharmaceutical and biotechnological companies placed all the new trials on hold and revised R&D spending for clinical trials in comparison to the earlier spending. This affected the outsourcing activities to CROs and further decrease the revenue at initial stage of outbreak. However, during the latter months of 2020, rapid recovery was observed due to the proliferation of new clinical trial approaches or models, that employing virtual trial tools including data management and analytical based software and evolving regulatory policies. Thus, owing to aforementioned factors, the pandemic posed a minimal impact on market growth in 2020 of clinical data management systems.

Recent Developments

• In June 2022, MMS Holdings, a data-focused Contract Research Organization (CRO) announced a strategic partnership with Medidata, to offer clients with a full range of Medidata’s solutions for clinical data management (CDM) and decentralized clinical trial (DCT) technologies including Medidatas unified platform and Rave EDC. This strategy is expected to expand the customer base for Medidata with new opportunities to support sponsors through the MMS teams expertise.
• In April 2022, NHS & Pharma Giant Abbott Labs launched Cloudfy Webstore for B2B medical device ordering.
• In April 2022, Ennov acquired MACRO from Elsevier, a provider of advanced EDC (Electronic Data Capture) software for clinical research. The MACRO serves research institutions in Austria, Ireland, Spain, Sweden, Germany and Switzerland This acquisition is expected to help company offer clinical trial and compliance solutions in the Europe region, thereby strengthening its market position.
• In March 2022, Snowflake has launched a cloud-based, data-sharing platform for the healthcare industry that brings together the company’s core SaaS data warehousing, analytics and business intelligence offerings with a data marketplace and consulting services on demand.

Frequently Asked QuestionsQ1. How big is the medical power supply market?Ans. The global clinical data management systems (CDMS) market size was USD 1.8 billion in 2021 and is anticipated to reach USD 7.1 billion in 2031, growing at a rate of 14.7%from 2022 to 2031.Q2. What is the clinical data management systems (CDMS) market growth rate?Ans. The growth rate of the clinical data management systems (CDMS) market is 14.7%.Q3. Which region holds a major market share for the medical power supply market?Ans. North America holds a major market share of the clinical data management systems (CDMS) market in 2021.Q4. Which segment accounted for the largest clinical data management systems (CDMS) market share?Ans. By end user, the CRO’s segment accounted for the largest clinical data management systems (CDMS) market share.Q5. Who are the key players in the clinical data management systems (CDMS) market?Ans. The global clinical data management systems (CDMS) market report includes players such as Q6. What are the factors driving the clinical data management systems (CDMS) market growth?Ans. The major factors driving the growth of the market are increasing adoption of clinical data management systems (CDMS) coupled with Growing number of clinical trials.Q7. What are the key growth strategies of clinical data management systems (CDMS) market players?Ans. The key growth strategies of clinical data management systems (CDMS) market players are product launch and product approval.Q8. Which region will provide more business opportunities for the clinical data management systems (CDMS) market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the clinical data management systems (CDMS) market during the forecast period.

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