Clinical Trial Management System Market 2022
The global clinical trial management system market is expected to surge at approximately 14% CAGR throughout the forecast period of 2021 to 2031. Integration of clinical trial management systems with hospital information systems (HIS) and increased clinical research outsourcing by contract research organizations are key trends in this market place.
Persistence Market Research has recently published a global market study on clinical trial management systems. The market is estimated to be valued at US$ 2 Bn in 2021 and is expected to surge at a CAGR of 14% from 2022 to 2031, to reach an estimated value of US$ 7 Bn by the end of 2031.
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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. Globally, the CTMS market is witnessing significant growth due to increasing R&D investment in pharmaceutical, life science and clinical research industries.
It empowers organizations and research centers to enhance productivity and effectiveness of clinical trials by advancing and managing clinical trials.
Company Profiles:
- Oracle Corporation.
- Merge Healthcare Incorporated.
- Medidata Solutions Inc.
- PAREXEL International Corporation.
- BioClinica.
- MedNet Solutions, Inc.
- Bio-Optronics, Inc.
- DSG, Inc.
Integration of CTMS with hospital information system (HIS) provides more accurate and time saving documentation is also driving growth for the CTMS market. Additionally, increasing prevalence of diseases is supporting clinical trials in different regions, and increased clinical research outsourcing is playing a major role in the growth of the CTMS market.
Increasing regulatory requirements in many countries has resulted in increased complexity for clinical trial protocols. Presence of various end users such as pharmaceuticals, clinical research organizations (CRO) and healthcare providers has increased the acceptance of CTMS.
North America is a traditional clinical trial region. Due to regulatory and legal considerations and the clinical trial market has shifted from North America to developing countries such as India and China. Clinical trials in the U.S. have been funded and sponsored by National Institute of Health (NIH), other government agencies, academic groups, voluntary health organizations and industry.
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In Europe, countries in Central and Eastern Europe provide abundant chance to life science companies for clinical development. Due to governmental support and funding for biomedical sciences, Germany has become a preferred location for clinical trials and is one of the most lucrative markets for the market.
However, Asia is the fastest growing region in the clinical trial management system market. 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 and this trend is expected to grow by the end of 2031. Asia has lower cost of conducting clinical trials compared to Europe or the U.S.
The clinical trial management system market is segmented as follows:
Delivery Mode
- Cloud based clinical trial management system
- Web based clinical trial management system
- On-premise clinical trial management system
Type
- Enterprise based clinical trial management system
- Site based clinical trial management system
End user
- Pharmaceuticals
- Clinical Research Organizations
- Healthcare providers
Component
- Software
- Hardware
- Services
Key geographies evaluated in this report are:
North America – U.S, Canada
Europe – France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC – China, India, Japan, Australia, Others
Latin America – Argentina, Brazil, Others
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Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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