Clinical Trial Management System Market Growing Clinical Trials Failure Rates, Lengthy Clinical Trials Approval Time, And Strict Government Guidelines are Likely to Hamper the Growth of The Clinical Trial Management System Market.
Clinical Trial Management System Market Overview
Clinical trials are overwhelming involving thousands of people, hundreds of investigative sites, multiple CROs, various eClinical source systems, and the massive amounts of data generated by these all. Web-based CTMS works on the go, allowing to view and manage real-time operational performance wherever and whenever.
Clinical Trial Management System (CTMS) is a solution (software) designed for managing clinical trials of drug discoveries. CTMSs are specially designed for biotechnology and pharmaceutical industries to maintain and manage the planning, performing and reporting functions, alongside participant contact information, tracking deadlines, and milestones.
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The rapid growth rate of healthcare service benefactors, healthcare IT sector and high accuracy level of information provided by the clinical trial management system (CTMS) are the key factors supporting the advancement of CTMS market. Also, investments in research and development of CTMS by top companies and government organization boosts the growth of CTMS market.
Competitive Landscape
Fervent players leading the global clinical trial management system market include,
- Forte Research Systems Inc.
- eClinForce Inc.
- Oracle
- Medidata Solutions
- iWeb Technologies
- PAREXEL
- Bioclinica
- Bio-Optronics
- and IBM.
These players increasingly invest in R&D activities to develop cost-effective solutions. They possess state of the art facilities to develop software and strong sales and distribution network which have helped them to gain the leadership position in the market.
Global Clinical Trial Management System Market – Segments
MRFR has segmented its analysis into five key dynamics for enhanced understanding.
By Type : Enterprise Clinical Trial Management System and Site Clinical Trial Management System
By Delivery Model : Web-based (Hosted CTMS), Licensed Enterprise, and Cloud-based CTMS.
By Component : Software and Services.
By End-user : Medical Device Manufacturers, Pharmaceutical & Biopharmaceutical Companies, Contract Research Organizations and others.
By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.
Additional factors fostering the market growth include the extensive demand for these systems and the presence of a large number of healthcare IT companies providing client-specific software solutions. Simultaneously, the availability of user-friendly software solutions that are enhancing the performance of clinical trials is contributing to the growth of the CTMS market.
Intended audience
- Pharmaceutical Manufacturers and Suppliers
- Medical Research Laboratories
- Research and Development (R&D) Companies
- Market Research and Consulting Service Providers
- Potential Investors
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LIST OF TABLES
Table 1 Global Clinical Trial Management System Market Research Synopsis, 2018–2023
Table 2 Global Clinical Trial Management System Market Research Estimates And Forecast, 2018–2023 (USD Million)
Table 3 Global Clinical Trial Management System Market, By Region, 2018–2023 (USD Million)
Table 4 Global Clinical Trial Management System Market, By Type, 2018–2023 (USD Million)
Table 5 Global Clinical Trial Management System Market, By Delivery Model, 2018–2023 (USD Million)
Table 6 Global Clinical Trial Management System Market, By Component, 2018–2023 (USD Million)
Table 7 Global Clinical Trial Management System Market, By End-Users, 2018–2023 (USD Million)
Table 8 North America: Clinical Trial Management System Market, By Type, 2018–2023 (USD Million)
Table 9 North America: Clinical Trial Management System Market, By Delivery Model, 2018–2023 (USD Million)
…To be Continued.
Global CTMS Market – Regional Analysis
The CTMS market in the North American region accounts for the largest market, globally. Some factors that are propelling the market growth in the region include increasing digital advancements in medical technology, extensive uptake of CTMS, and the presence of healthcare IT companies that are quadrupling by numbers.
Also, the augmenting demand for user-friendly systems along with the importance of clinical data contributes to market growth. Furthermore, the increasing rate of ongoing clinical trials in this region is driving the regional market.
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The European region accounts for another lucrative market for clinical trial management system standing the second position. The market is growing with the augmenting demand for CTMS across CMOs and CTOs. Certainly, the resurging economy in the region is a dominant factor substantiating the market growth, increasing healthcare and pharmaceutical industries. Also, the increased government funding in the rising numbers of R&D activities for the drug discoveries provides impetus to the market growth in the region.
The CTMS market in the Asia Pacific region is rapidly emerging as a promising market. Burgeoning healthcare sector along with the spreading awareness about the use of IT in clinical trial management defines the market landscape in the region. Also, rapidly improving economic conditions along with the market penetration of healthcare technology in the region provide impetus to market growth.
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