The global clinical trial management system market crossed USD 1.6 billion in recent years and is expected to continue growing during the forecast period. The rise in health concerns and increased R&D expenditure in life sciences& clinical research organizations are likely to drive the market growth in the forthcoming period.
The clinical trial management system industry witnesses several opportunities in form of the availability of CTMS solutions, rise in government funds for CROs. However, significant costs and a dearth of healthcare professionals are likely to create major hindrances for the market growth during the forecast period. Overall, the clinical trial management system market is expected to grow at a CAGR of 12.1%.
A clinical trial management system (CTMS) is a tailor-made software system to accomplish clinical trial data operations generated by pharmaceutical and biotechnological companies. A CTMS manages up-to-date clinical data initiation from the planning of research proposal to preparation, conducting, and reporting generation. Clinical trial management system performs planning on budgets, report budgeting, clinical data management, and report generation and accordingly, the requirements of recipient companies vary from the prospect.
The clinical trial management system market is segmented into delivery type, type, component, and end-user. Geographical segmentation for clinical trial management system industry spans North America, South America, Europe, Asia-Pacific, Middle East, and Africa. Asia-Pacific clinical trial management system market is anticipated to grow at a higher CAGR in the forthcoming period due to the rise in the number of clinical trials. Outsourcing to India, China, and South Korea being a major activity contributes to the market development in this region.
The North American clinical trial management system industry is likely to gain a significant market share due to the presence of stringent laws about end-users in this region. The rise in demand for CRO for healthcare analytics is likely to account for a major share in the global market. The Middle East and African clinical trial management system market accounts for a leading market position due to the rise in healthcare infrastructure and healthcare analytics in these regions.
The key players in the clinical trial management system industry include Forte Research Systems Inc., Bioclinica, Oracle Corporation, eClinForce Inc., Medidata Solutions, DATATRAK, Guger Technologies, PARAXEL International Corporation, and MedNet Solutions, Inc. Other participants include; ChemWare Inc., iWeb Technologies, Data MATRIX, Jade Global Solutions, Integrated Clinical Solutions, and MAJARO InfoSystems.
Market Segment:
Clinical Trials Management System Type Outlook (Revenue, USD Million, 2014 - 2025)
• Enterprise
• On-site
Clinical Trials Management System Delivery Mode Outlook (Revenue, USD Million, 2014 - 2025)
• Web-based
• Cloud-based
• On-premise
Clinical Trials Management System Component Outlook (Revenue, USD Million, 2014 - 2025)
• Software
• Services
Clinical Trials Management System End-use Outlook (Revenue, USD Million, 2014 - 2025)
• Pharmaceutical and Biotechnology firm
• CROs
• Medical Device Firm
Clinical Trials Management System Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Russia
• Belgium
• Netherlands
• the Asia Pacific
• Japan
• China
• India
• Thailand
• Australia
• Singapore
• Malaysia
• Indonesia
• South Korea
• Philippines
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• United Arab Emirates (UAE)
• Saudi Arabia
• South Africa
Research Support Specialist, USA