Clinical trial management system are software that are used by pharmaceutical and biotechnological companies for managing clinical trials for research purposes. These system are commissioned to maintain records, reporting, managing the performance, and planning for keeping a track of the process of clinical trials. These management system are able to provide accuracy and sophistication to the information along with managing the rigorous activities conducted under the clinical trials which accounts to be a key driver for the market.
As per the statistics by the U.S. FDA, more than 126,000 clinical trials are conducted with the help of clinical trial management system. For instance, various oncology drugs are routinely administered to patients prior to its approval by the U.S. FDA and is regarded as a part of access trial. Furthermore, increasing innovation of treatment are contributing towards the growth of the clinical trials management systems.
Clinical Trial Management System Market is expected to grow at a CAGR of ~15% by the end of the forecasted period.
May, 2017 Chiltern International Ltd. announced the acquisition of Integrated Development Associates Co. Ltd. The aim is to strengthen their position within the Asia Pacific region, which is anticipated to be the most lucrative region over the forecast period.
Jan, 2015 Hospira had submitted the review of biosimilar of Epogen (Epoetin Alfa) to the FDA in the U.S. and is awaiting approval within a year.
Global Clinical trial management system Market – Regional Analysis
The global clinical trial management system market is segmented into five major regions including Americas, Europe, Asia Pacific, and Middle East and Africa region.
Americas dominated the global clinical trial management system market in terms of revenue share owing to the presence of big outsourcing firms and increasing R&D in the region. The North America region conducts the highest number of clinical trials. As per a study conducted by BioOutsource, the increasing demand for testing biosimilars is anticipated to grow in the U.S. This can be attributed to the lack of clear guidance which are being addressed by the U.S. FDA finally revealing the biosimilars. Moreover, specifically to the developers that are trying to prove their drugs similarity to that of the original product.
The European market is the second largest market for clinical trial management system. Management software plays an important role to minimize the cost of clinical trials. These systems are a natural fit for early phase trials, since they are more dynamic and involves scientific work than the later phase of trials. The biomarkers are used to increase the success ratio of the clinical trials and to evaluate the efficiency of its rapid development.
Furthermore, Asia Pacific region has emerged as the fastest growing market for clinical trial management system. The Middle-East and Africa Clinical trial management market has been evaluated as moderately growing market and it is expected that the market will continue to grow at same pace in the near future. Clinical trial is major process in drug development process. Drug development process is expensive and need huge funding. Imaging perform different function in clinical trials like detection, characterization, and monitoring or assessment. Pharmaceutical and biotechnology companies investing in R&D to develop new drugs which further observed and make available to the public. Increasing number of non-communicable diseases, improved healthcare infrastructure, and government initiatives are leading the growth for clinical trial management market in Middle East and Africa.
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Global Clinical trial management system Market – Competitive Analysis
The key strategic adopted by in the market players are regional expansion, collaboration and merger & acquisitions and others. For instance, Pfizer operates with three CROs to enhance its product portfolio and conduct new R&D. Moreover in 2011, Pfizer entered into partnership agreement with ICON. The company preserves the scientific ownership for the studies and trials conducted by ICON, thereby allowing Pfizer to develop its capabilities in designing clinical trial.
Table of Content:
1.2 Scope Of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure:
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.5 Macroeconomic Indicators
4 Market Factor Analysis
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