Healthcare

Clinical Trial Management System Market Reaching at US$ 1.065 Billion Investment to 2023 | Overview by Oracle (US), Medidata Solutions (US), PAREXEL (US), Bioclinica (US), Bio-Optronics (US), and IBM (US)

Clinical Trial Management System Market
Clinical Trial Management System Market
Press Release

Clinical trial management system market study by web-based (on-demand), licensed enterprise (on premise), and cloud-based (SaaS) segments. Key insights and overview of North America and Europe Region.

Report studies the clinical trial management system market based on type, delivery mode, component, end user, and region. Report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. The report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.

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Clinical trial management system market is projected to reach USD 1,065.6 million by 2022 from USD 590 Million in 2017, at a CAGR of 12.6%. Report studies the clinical trial management market based on type, delivery mode, component, end user, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.

“The cloud-based CTMS segment is expected to grow at the highest rate during the forecast period”.

Clinical trial management systems are used to effectively and efficiently manage clinical trials by streamlining patient management, project management, and data management. Thus, growing partnerships between biopharma companies and CROs is also expected increase the adoption of these systems in the coming years.

The cloud-based (SaaS) segment is estimated to witness the highest growth during the forecast period, primarily due to the rising adoption of cloud-based solutions in medical research studies owing to various benefits offered by them such as low cost, high security, privacy, and easy accessibility from any device.

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Major factors driving growth of clinical trial management system market include the increasing partnerships between biopharma companies and CROs, rising number of ongoing clinical trials, rising government funding & grants to support clinical trials, availability of advanced CTMS solutions, and growing customer base for CTMS solutions.

Key Target Audience:

  • Healthcare IT service providers
  • Pharmaceutical/biopharmaceutical companies
  • Clinical research organizations
  • Research and development (R&D) companies
  • Medical device companies
  • Business research and consulting service providers
  • Academic medical centers/universities/hospitals

Top players in clinical trial management market are Oracle (US), Medidata Solutions (US), PAREXEL (US), Bioclinica (US), Bio-Optronics (US), & IBM (US). Clinical trial management system market research study involves extensive use of secondary sources, directories, & databases (like Dun & Bradstreet, Bloomberg Business, & Factiva), to identify and collect information useful for this technical, market-oriented, & financial study of market.

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Increasing research and development activities in clinical trial management system healthcare industry, Strategic partnerships and collaborations between healthcare industry and research institutes to drive clinical trial management systems market growth. Technological advancement in the clinical trial management systems in integrating it with healthcare mobile apps.

Reasons to Buy the Report –

The pharmaceutical and biopharmaceutical companies segment is expected to account for the largest share of the CTMS market in 2019. Clinical trial management market is segmented into pharmaceutical and biopharmaceutical companies, contract research organizations, medical device companies, and others. The pharmaceutical and biopharmaceutical companies segment is further subsegmented into large pharmaceutical companies and mid-small pharmaceutical companies.