Clinical Trials Matching Software Industry Overview
The global clinical trials matching software market size was valued at USD 132.8 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.8% from 2022 to 2030.
Pharmaceutical manufacturers, biotechnology companies, clinical research organizations (CROs), and medical device manufacturers frequently conduct clinical trials to test the safety and efficacy of novel medications, diagnostics, and therapies. The rising prevalence of chronic diseases and the growing need for clinical trials are expected to contribute to the market growth. Clinical trials are increasingly conducted in developing regions as the availability for patient recruitment and matching is a crucial part of clinical trials.
Gather more insights about the market drivers, restrains and growth of the Global Clinical Trials Matching Software Market
The COVID-19 pandemic had a significant impact, particularly on the hospitals, due to the patient load and the danger of viral propagation. To counteract the virus's transmission among doctors, hospital workers, and patients, healthcare facilities have altered the execution of clinical trials. The restrictions and limitations impacted a number of ongoing clinical studies in various therapeutic areas. In order to overcome the adverse situation, researchers created novel COVID-19 vaccines. The growing demand for services from the CROs to perform clinical trials in the pharmaceutical industry is driving the market.
The digitization of research is also opening the door for market expansion. Incorporating sophisticated technology such as Electronic Data Capture (EDC), and clinical trials management systems assist market players in maintaining patient data and lowering monitoring expenses. Hence, clinical trial matching software can be crucial in conducting trials and improving the efficiency of the process. Regulatory authorities such as the European Medicines Agency (EMA), U.S. FDA, China’s National Medical Products Administration, and the National Institutes of Health (NIH) have released a framework for the conduct of clinical studies during the pandemic, which fully supports the virtual trials. This acceptance by regulatory authorities and pharmaceutical companies is anticipated to fuel the growth of the patient matching software market.
In clinical trials, patient matching is an essential factor as trials are performed on humans and the right candidate match can save the time of the sponsors, thereby leading to optimal results. A lot of pharmaceutical companies, research organizations, and hospitals are shifting towards virtual or remote trials. These trials do not require traveling to sites and the process is conducted online. Hence, the future of clinical trials lies in clinical trial management systems and patient matching software. These automated systems eliminate the need for human intervention, hence contributing to the growing demand for patient matching software.
This patient matching software provides patient centricity, which is a significant aspect in comparison with the traditional method. In addition, it provides data transparency and faster recruitment, which saves time. To make the process effective, patients answer a couple of questions, which helps them find the right match, and the patients give their consent leading to retention throughout the process.
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- Clinical Trials Market – The global clinical trials market size was valued at USD 47.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030. However, the market growth was hindered in 2020 due to the COVID-19 pandemic. In 2020, Parexel and Synairgen plc formed a strategic collaboration for conducting a Phase III study of an Interferon-beta (IFN-beta) treatment for COVID-19 patients.
- Clinical Trials Site Management Organizations Market – The global clinical trials site management organizations market size was valued at USD 5,572.0 million in 2021 and is anticipated to expand at a CAGR of 6.1% from 2022 to 2030. The market has noticed critical growth on account of the rising R&D investments by pharmaceutical companies owing to the high burden of chronic and infectious diseases.
Clinical Trials Matching Software Market Segmentation
Grand View Research has segmented the global clinical trials matching software market based on deployment mode, end use, and region:
- Clinical Trials Matching Software Deployment Mode Outlook (Revenue, USD Million, 2017 – 2030)
- Web & Cloud Based
- Clinical Trials Matching Software End-use Outlook (Revenue, USD Million, 2017 – 2030)
- Pharmaceutical & Biotechnology Companies
- Medical Device Firms
- Clinical Trials Matching Software Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- December 2021: Optimapharm, a leading European clinical research organization, acquired SSS International. This acquisition helped the company is widening its portfolio of clinical research studies.
Key Companies profiled:
Some prominent players in the global clinical trials matching software market include
- IBM Clinical development
- Antidote Technologies, Inc.
- Clinical Trials Mobile Application
- SSS International Clinical Research
- Aris Global
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