This Global Clinical Trial Management Systems market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.
— Asia-Pacific clinical trial management systems market will show fastest CAGR of 14.5% during the analysis timeframe. Growing number of companies for outsourcing clinical trials in emerging economies such as China, India and South Korea will impel business growth. Low operating costs for conducting clinical trials in these countries coupled with several government initiatives to develop infrastructure for clinical research will accelerate the regional growth.
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Clinical Trial Management System Market will exceed USD 2.5 billion by 2025. Increasing demand for contract research organizations for conducting clinical trials will augment the clinical trial management systems business growth over the analysis period. Benefits associated with outsourcing clinical trials including on time delivery, reduced cycle times and decreased administrative costs will foster industry growth. Use of clinical trials management systems (CTMS) in clinical trial has increased ability to deal with problems and produce effective results thereby, increasing its adoption in healthcare and pharmaceutical industries.
Cloud based solutions segment will show lucrative CAGR of 16.3% during the analysis timeframe. Growing urge of clinical trial organizations to adopt technologically upgraded software and solutions factor is expected to drive the healthcare cloud-based solutions segment over the forthcoming years. Demand for cloud computing solutions is specifically high in developing countries due to increasing number of clinical trials. Furthermore, maximum flexibility and data integrity offered by cloud based systems to the users will positively influence the segmental growth.
Clinical research organizations segment held 30.9% revenue share in 2018 and will show lucrative growth over the analysis timeframe. Escalated R&D expenditure by life science and clinical research industries will spur the revenue size. Outsourcing of clinical trials enabling pharmaceutical and biopharmaceutical companies to focus on their primary function of manufacturing and marketing of several pharmaceutical products will further fuel industry growth.
Enterprise based segment dominated the product segment with USD 805.7 million in 2018. Enterprise based CTMS enables faster access to subject data, patient recruitment, data capture & exchange, and speeds up the protocol design. Ability of these systems to emphasize on targeted patient population and indication, investigator performance and improved patient safety to allow predictable trial execution and reduce cycle cost and time will boost segmental growth.
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Prominent industry players involved in clinical trial management system market are Bio-Optronics, MedNet Solutions, DataTrak Internationals, Bio Clinica, Forte Research Systems, MasterControl, Oracle, DSG, Omnicomm Systems, Medidata Solutions, Merge Healthcare (IBM Watson), Veeva Systems and Parexel Informatics. These key industry players are focusing on strategic alliances, new software development and collaborations to capitalize on market opportunities. For instance, in February 2018, Oracle launched a data marketing program and an advanced training on data, to help companies, shift to a digital platform and enhances company’s market position.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Clinical Trial Management Systems Industry Insights
Chapter 4. Clinical Trial Management Systems Market, By Component
Chapter 5. Clinical Trial Management Systems Market, By Delivery Mode
Chapter 6. Clinical Trial Management Systems Market, By Product
Chapter 7. Clinical Trial Management Systems Market, By End-use
Chapter 8. Clinical Trial Management Systems Market, By Region
Chapter 9. Company Profiles
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