The Clinical Trial Management Market size accounted for $570 million in 2016, and is estimated to reach $1,371 million by 2023, registering a CAGR of 13.4% from 2017 to 2023. North America is the highest contributor in the clinical trial management market in 2016; however, Asia-Pacific is expected to witness the highest growth rate during the forecast period.
What is the total market value of clinical trial management market report ?
The total market value of clinical trial management market is $969.4 million in 2020.
What would be forecast period in the market report?
The forecast period in the report is from 2021 to 2030
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Demand for management of clinical trial data is on significant rise globally. This is anticipated to rise in number of clinical trials, owing to high demand for novel therapeutic drugs and medical devices. Increase in prevalence of chronic diseases and the need for clinical trials has further supplemented the market growth. Furthermore, increase in awareness regarding benefits of using these systems fuel the market growth.
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The main factors driving the growth of the market are the strong trend in the export of clinical trials and the increase in the number of hospitals due to the high demand for new therapeutic drugs and medical devices. In addition, increasing incidence of chronic diseases and rising awareness about the benefits of using CTM may drive the growth of the clinical trial management market. Furthermore, the increase in expenditure and the number of R&D activities by various pharmaceutical companies is also helping to increase the demand for clinical trial management systems.
However, high cost associated with CTM and lack of skilled professionals will hinder the market growth. Among those resources, software forms the largest segment of the CTM market due to the availability of advanced software that improves the efficiency and productivity of analysts. The web holds the largest share of the global CTMS market due to the advantages that improve the quality and productivity of clinical trials, better time management and ease of access.
Major Key Market Players in the Industry –
- Medidata Solutions
- Parexel, BioClinica, Inc.
- MedNet Solutions
- Veeva Systems
- Forte Research Systems, and Merge Healthcare Incorporated
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Market: By Region Outlook
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)
Important Questions Being Answered by This Market Report Are –
Q1. What is the market value of clinical trial management market in 2021?
Q2. Which is base year calculated in the clinical trial management market report?
Q3. Does the clinical trial management company is profiled in the report?
Q4. Which are the top companies hold the market share in clinical trial management market?
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Key findings of the study –
- By type, the enterprise-based segment was the highest contributor to the market in 2020.
- By delivery mode, the web-based segment was the highest contributor to the market in 2020.
- On the basis of component, the software segment dominated the market in 2020.
- Depending on end user, the pharmaceutical & biopharmaceutical segment dominated the market in 2020.
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