25th July 2019 – Clinical
Trial Management System Market study offers detail overview of industry
with all the requisite data to support tactical business decisions and come up
with strategic growth plans. This study also proposes a comprehensive insight
into the development policies and plans in addition to manufacturing processes
and cost structures.
The global clinical trial management
system market crossed USD 1.6 billion in the recent years and is expected to
continue growing during the forecast period. Rise in health concerns and
increased R&D expenditure in life sciences& clinical research organization
are likely to drive the market growth in the forthcoming period.
The clinical trial management system
industry witnesses several opportunities in form of availability of CTMS
solution, rise in government funds for CROs. However, significant costs and
dearth of healthcare professionals are likely to create major hindrance for the
market growth during the forecast period. Overall, the clinical trial
management system market is expected to grow at a CAGR of 12.1%.
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A clinical trial management system
(CTMS) is tailor made software system to accomplish clinical trial data
operations generated by pharmaceutical and biotechnological companies. A CTMS
manages up-to-date clinical data initiation from planning of research proposal
to preparation, conducting and reporting generation. Clinical trial management
system performs planning on budgets, report budgeting, clinical data management
and report generation and accordingly the requirements of recipient companies
vary from the future prospect.
The clinical trial management system
market is segmented into delivery type, type, component and end-user.
Geographical segmentation for clinical trial management system industry spans
North America, South America, Europe, Asia-Pacific, Middle East and Africa.
Asia-Pacific clinical trial management system market is anticipated to grow at
a higher CAGR in the forthcoming period due to rise in number of clinical
trials. Outsourcing to India, China and South Korea being a major activity
contributes to the market development in this region.
North American clinical trial management
system industry is likely to gain a significant market share due to presence of
stringent laws pertaining to end-user in this region. Rise in demand for CRO
for healthcare analytics is likely to account for a major share in the global
market. Middle East and African clinical trial management system market
accounts for a leading market position due to rise in healthcare infrastructure
and healthcare analytics in these regions.
The key players in the clinical trial
management system industry include Forte Research Systems Inc., Bioclinica,
Oracle Corporation, eClinForce Inc., Medidata Solutions, DATATRAK, Guger Technologies,
PARAXEL International Corporation, and MedNet Solutions, Inc. Other
participants include; ChemWare Inc., iWEb Technologies, Data MATRIX, Jade
Global Solutions, Integrated Clinical Solutions, and MAJARO InfoSystems.
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