Clinical trial is a medical research study performed on humans to check the safety and efficacy of drugs, devices and therapeutic products before they are finally launched in the market. Proper management of clinical trials has become a priority for hospitals, pharmaceutical companies and clinical research organizations (CRO).Clinical trial management system (CTMS) is a software solution for proper management, storage and analysis of drugs associated clinical data. CTMS is primarily employed to manage the large amount of data involved in a clinical trial including planning, preparation and reporting. CTMS also provides data to a business intelligence system. It provides a user-friendly infrastructure that enables clinicians to manage trials of varying complexity.
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North America is a traditional clinical trial region. The percentage share of global clinical trials conducted in North America has reduced. This was due to regulatory and legal considerations, which shifted the clinical trial market from North America to developing countries such as India and China. Countries in Central and Eastern Europe provide abundant opportunities to life science companies for clinical development. Similarly, improved industry regulatory laws and patent expiration laws in various countries including Japan, China and India, have led to the expansion of the clinical trials market in Asia, which has lower cost of conducting clinical trials compared to Europe or the U.S.
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Increasing R&D investment in pharmaceuticals, life science and clinical research industries, rising prevalence of diseases and increased clinical research outsourcing are key growth drivers for the CTMS market. In addition, integration of CTMS with a Hospital Information System (HIS) provides more accurate and time saving documentation over paper based information systems. On the other hand, long approval time for clinical trials and difficulties related to recruiting and enrolling patients for clinical trials are some of the major concerns for the industry. Approval from Institutional Review Board (IRB), contract and budget negotiation and approval, availability of appropriate patient population and protocol design and legal review are major factors that delay a drug approval process. Similarly, increasing regulatory requirements in many countries has resulted in increased complexity for clinical trial protocols.
This report provides an in-depth analysis of estimation of the CTMS market for the period 2013-2019, considering 2013 as the base year for calculation. In addition, data pertaining to current market dynamics including market drivers, restraints, trends and recent developments has been provided in the report. The CTMS market is categorized on the basis of type of CTMS, end users, components, mode of delivery and geography. Based on mode of delivery, the CTMS market comprises on-premise CTMS, Web based CTMS and cloud based CTMS. The end user market comprises pharmaceuticals, clinical research organizations and healthcare providers.
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In the geographical analysis, the report identifies and analyses market size and forecast of North America, Europe, Asia and Rest of the World (RoW). North America is further segmented into the U.S. and rest of North America. Similarly, Europe is further segmented into Germany, France and Poland. Asia is further segmented into South Korea and China. Some of the major players in the CTMS market are Oracle Corporation, Bio-Optronics, MedNet Solutions, PAREXEL International Corporation, Medidata Solutions and BioClinica. These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability and financial overview.
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