Clinical Trials Matching Software market to Eyewitness Huge Marginal Growth by 2030

Posted by Mrudula Anil Karmarkar on July 6th, 2022

The global clinical trials matching software market size is expected to reach USD 396.1 million by 2030, based on a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 13.8% from 2022 to 2030. The significant increase in the number of ongoing clinical trials is likely to drive the market. In addition, the growing adoption of the clinical trial matching software catering to the clinical trials, along with the increased demand for virtual trials and automation in the healthcare sector are some of the key factors contributing to the market growth. The matching software help in effective and fast patient matching with patient-centric approaches.

In clinical trials, patient recruitment or matching can be time-consuming, and finding the right match can be a hurdle. Screening or locating prospective respondents who are qualified, considering all elements of the trials, verifying awareness, and getting informed consent to participate are the factors taken into consideration while recruiting patients. Enlisting the individuals in accordance with the qualifying requirements is crucial, hence the trial matching technology has been proved to be useful, especially in the COVID-19 scenario.

The software helps not only to find the right match but also saves the R&D-related costs, enabling smoother operations without human intervention. The software providers are introducing new innovative techniques to strengthen their market position. For instance, in February 2022, the CTMA expanded CT-SCOUT technology offering in rheumatology. 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.

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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.

Clinical Trials Matching Software Market Report Highlights

• Based on deployment mode, the web and cloud based segment dominated the market in terms of revenue in 2021 and it is expected to register the fastest CAGR during the forecast period. The cloud computing models operate with no maintenance or upkeep charges and customers only have to pay for the services that are used. On the other hand, on-premises deployment involves in-house infrastructure, in-house IT support, working capital, and higher integration costs. Hence, web and cloud based models are preferred
• Based on end use, pharmaceuticals and biotechnology companies captured the largest revenue share in 2021 owing to the higher adoption of software during ongoing clinical studies for cost-saving in the R&D activities
• The CROs end-use segment is anticipated to expand at the fastest CAGR of 13.7% during the forecast period. CROs provide the professional assistance, expertise, and execution experience required for clinical trials quickly, without the need for the sponsor to engage such people full-time. CROs are preferred for outsourcing as their services are cost and time-effective
• In 2021, North America led the market in terms of revenue owing to the rising adoption of the clinical trial matching software by the pharma, biotech, and medical companies in the region
• Asia Pacific is anticipated to register the fastest growth rate over the forecast period due to the availability of a large patient pool supporting easy recruitment of patients/candidates

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.

List of Key Players of Clinical Trials Matching Software Market

• IBM Clinical development
• Antidote Technologies, Inc.
• Clinical Trials Mobile Application
• SSS International Clinical Research
• Advarra
• Aris Global