$8.9bn
$X.Xbn
26,390
1,805
$X.Xbn
Clinical trial data management (CDM) providers have experienced robust growth in recent years, driven by several key factors. Two major catalysts contributing to this growth are an increasing demand for innovative therapies and treatments and the rising prevalence of chronic diseases worldwide. As pharmaceutical companies race to develop new drugs and biologics to address unmet medical needs, the volume and complexity of clinical trials have surged. A jump in clinical trial activity has fueled the need for efficient and reliable data management solutions to handle the vast amounts of data generated throughout the drug development process. At the same time, regulatory bodies in the US and internationally mounting scrutiny of clinical trial data integrity has prompted pharmaceutical companies to outsource data management to compliance and transparency. In all, revenue has been expanding at a CAGR of 5.9% to an estimated $8.9 billion over the past five years, including expected growth of 2.7% in 2024.
Industry revenue has grown at a CAGR of 5.9 % over the past five years, to reach an estimated $8.9bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Bioclinica Inc. | 150.4 | 11.2 | 7.4 | |
Oracle Corporation | 131.9 | 39.0 | 29.6 | |
Medidata Solutions, Inc. | 74.7 | 15.8 | 21.1 |
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Industry revenue is measured across several distinct product and services lines, including Oncology trials, Rare disease trials and Immunology trials. Oncology trials is the largest segment of the Clinical Trial Data Management Services in the US.
Industry services can be broken down by delivery method
Clinical Trial Management Systems (CTMS) maintain and manage the planning, preparation, performance and reporting of clinical trials, with emphasis on tracking participants, deadlines and milestones. These systems are used by pharmaceutical and life sciences companies to manage the large amounts of data involved in the operation of a clinical trial. CTMS helps identify key performance indicators while establishing metrics, results and performance management.
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NAICS 51821 - Clinical Trial Data Management Services in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The industry ultimately benefited from the COVID-19 pandemic as funding for clinical trials rose. Still, some trials unrelated to the pandemic were disrupted.
Learn about an industry's products and services, markets and trends in international trade.
The pharmaceutical industry is the leading market for CTMS as these companies must conduct clinical trials in order to bring new products to market.
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Regions with active pharma and biotechnology hubs benefit clinical trial data management providers. Areas like the Mid-Atlantic offer access to a skilled workforce, research ...
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Industry operators compete on the basis of product quality, since customers have a choice among a couple of operators.
Learn about the performance of the top companies in the industry.
Clinical trial data management providers operate in a competitive and diverse landscape. Clinical trials require highly specialized and tailored data management, which smalle...
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Given that the industry deals with medical data, it is faced a certain level of regulation. This includes from HIPAA and the FDA.
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Profit has increased slightly in recent years as industry revenue growth has outpaced wage growth.
Including values and annual change:
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Key data sources in the US include:
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The market size of the Clinical Trial Data Management Services in the US industry in United States is $8.9bn in 2024.
There are 1,805 businesses in the Clinical Trial Data Management Services in the US industry in United States, which has grown at a CAGR of 7.2 % between 2019 and 2024.
The market size of the Clinical Trial Data Management Services in the US industry in United States has been growing at a CAGR of 5.9 % between 2019 and 2024.
Over the next five years, the Clinical Trial Data Management Services in the US industry in United States is expected to grow.
The biggest companies operating in the Clinical Trial Data Management Services market in United States are Bioclinica Inc., Oracle Corporation and Medidata Solutions, Inc.
Providing clinical trial data management for oncology trials and Providing clinical trial data management for rare disease trials are part of the Clinical Trial Data Management Services in the US industry.
The company holding the most market share in United States is Bioclinica Inc..
The level of competition is moderate and steady in the Clinical Trial Data Management Services in the US industry in United States.