US Clinical Trial Data Management Service Market Focused Insights 2023-2028, with Profiles of Key Vendors IQVIA, SYNEOS, ICON & Labcorp - ResearchAndMarkets.com

28 Dec 2023
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Phase 3Clinical Study
DUBLIN--(BUSINESS WIRE)--The "US Clinical Trial Data Management Service Market - Focused Insights 2023-2028" report has been added to ResearchAndMarkets.com's offering.
'US Clinical Trial Data Management Service Market - Focused Insights 2023-2028'
There are over 8000 clinical trials ongoing in the US. The duration for phase 3 clinical trials has doubled in the last decade, from 2 years in 2010 to 3.5 in 2021. The data generated is huge, which is increasing the demand for clinical trial data management. The constant change in the regulatory pathways demands better data management skills and technology. The clinical data management service providers have expertise in this and keep track of every new rule change in the market.
The clinical trial data management process is outsourced to other companies for economic reasons, skilled labor, and time constraints. Smaller and mid-sized companies are outsourcing clinical trial data management to service providers in the market. This helps the companies to manage the data and launch it in the market in less time.
KEY HIGHLIGHTS:
Lack of in-house experience, expanding new drug pipelines, increasing complexity in clinical trials, and duration of clinical trials are forcing the companies to choose clinical data management service providers
Phase 1 clinical trials take several months to a year to complete. Clinical trial outsourcing services are vital in minimizing time and cost. Collecting data from the clinical trials will also help in future studies. 70% of drugs move from phase 1 to the next phase, as stated by the US FDA
Small pharmaceutical start-ups are highly focused on drug discovery. The lack of development infrastructure and capital has compelled small biopharmaceutical companies to rely on clinical trial outsourcing services, including data management services.
Majority of the middle-sized companies are running their trials. When the working scale is beyond their ability to run effectively, but they want to remain involved, they choose the functional service provider model to augment their internal team. This is one of the unique ways to control the data with security. This is increasing the demand for the functional service provider model.
Small biotech and pharma companies accounted for 40% of contributions for new drug approval by the FDA. It shows the high market opportunities for clinical trial outsourcing market players, including data management service providers.
In 2019, more than 3000 contract research organizations were operating worldwide, of which more than 80% of medical device clinical trials happened in high-income countries, including the US. This number is constantly increasing. This is increasing the demand for US clinical trial data management.
VENDORS LIST
Key Vendors
IQVIA
SYNEOS
ICON
Other Prominent Vendors
Paraxel
Advanced Clinical
ProtaGene
Curial Global
AixialGroup
Advanced Clinical
Criterium
Medeli
Worldwide Clinical Trials
Sofpromed
Veristat
REPORT HIGHLIGHTS
SEGMENTATION & FORECAST
Phases
Late Phase
Early Phase
Type
Full Service
Functional Service
Standalone
End-User
Others
MARKET STRUCTURE
Market Dynamics
Competitive Landscape
Key Vendors
Other Prominent Vendors
Strategic Recommendations
Quantitative Summary
Abbreviations
Key Attributes:
Report Attribute
Details
No. of Pages
70
Forecast Period
2022 - 2028
Estimated Market Value (USD) in 2022
$0.82 Billion
Forecasted Market Value (USD) by 2028
$1.29 Billion
Compound Annual Growth Rate
7.8%
Regions Covered
United States
Key Topics Covered:
Chapter 1: US Clinical Trial Data Management Market
Chapter 2: US Clinical Trial Data Management Overview
Market Segmentation Data
Phases
Late Phase
Early Phase
Type
Full Service
Functional Service
Standalone
End-user
Others
Chapter 3: US Clinical Trial Data Management
US Clinical Trial Data Management Market Drivers
US Clinical Trial Data Management Trends
US Clinical Trial Data Management Constraints
Chapter 4: US Clinical Trial Data Management Industry Overview
US Clinical Trial Data Management - Competitive Landscape
US Clinical Trial Data Management - Key Players
US Clinical Trial Data Management - Other Prominent Players
For more information about this report visit https://www.researchandmarkets.com/r/e7kayx
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Organizations
Indications
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Targets
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Drugs
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