Clinical Trial Management Market Insights
Market Research Future (MRFR) studied the global Clinical Trial Management System (CTMS) Market 2020 across the review period till 2025. By 2025, the clinical trial management system market can rise at 12.0% CAGR. On the conclusion of the evaluation period, the clinical trial management system market can value at USD 1,631.3 Million by 2025 from held a valuation of USD 732.5 Mn in 2017.
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The rise in number of clinical studies in the light of COVID 19 pandemic and rapid development of platforms suitable for the execution of such researches can underpin the growth of the clinical trial management market. The rise of mid small pharmaceutical companies and their focus on enhancing their product portfolio can support the market surge in the near future. The increase in clinical trials conducted, rise in chronic disease cases, and escalation in the demand for advanced medical devices and novel drugs are other growth inducers that are identified by MRFR. The scarcity of healthcare expertise and high price involved in clinical trial management system can hinder the market growth. However, the rise in frequency of long-lasting diseases and the easily availability of healthcare service benefactors can counter the above-mentioned challenges the market is expected to encounter. Low battery life of portable computers and effective reimbursement policies, are also expected to propel the growth of the market. In cases of rise in clinical trial failure and extended tenure for clinical trial approval can impede the market expansion.
Clinical Trial Management Market Segmentation
The segment evaluation of Global Clinical Trial Management System Market is based on component, type, delivery model, and end user.
The type-based clinical trial management system market segments are on-site CTMS and enterprise CTMS.
The delivery model-based clinical trial management market segments are licensed enterprise, web-based (hosted CTMS), and cloud-based CTMS (SaaS).
The component-based segments of the clinical trial management market segments are hardware, software, and service.
The end users-based clinical trial management market segments are medical device manufacturers, pharmaceutical and biopharmaceutical companies, and contract research organizations among others.
Clinical Trial Management Market Regional Market Summary
The Americas region can dominate in the worldwide clinical trial management system market. The escalation of investments in CTMS for R&D by top-notch companies and global healthcare leaders, along with government organizations can support regional market surge. In Europe, the clinical trial management system market can surge owing to expansion of the healthcare IT sector. The high accuracy and reliable information offered by modern clinical trial management system can accelerate their adoption that can drive expansion of the market in the assessment period. Germany can lead the regional market in the review period.
Asia Pacific clinical trial management system market can rise at the fastest pace in the review period. The expansion of customer base for CTMS solutions due to high demand for CMTS by high-end users and favorable government policies can favor regional market expansion. The rise of the healthcare IT sector and surge of sedentary lifestyle can fuel the market growth in APAC. In Middle East and Africa, the clinical trial management system market can rise at steady pace in the near future due to the lack of cognizance and low income of people in the region.
Clinical Trial Management Market Key Players
eClinForce, Inc., Oracle, Forte Research Systems Inc., Medidata Solutions, iWeb Technologies, Bioclinica, Bio-Optronics, PAREXEL, IBM, Datatrak, DSG, Veeva Systems, Mastercontrol, Arisglobal, ERT, Mednet Solutions, and DZS Software Solutions among others are companies in the Clinical Trial Management System Market that are assessed by MRFR for evaluation of the market.
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