Global Clinical Trial Management System Market is estimated to reach $3,407 million by 2024; growing at a CAGR of 13.7% from 2016 to 2024. Clinical trial management system (CTMS) is a software system used by biotechnology and pharmaceutical companies to manage clinical trials in clinical research. These systems manage and maintain the clinical trials reporting, recruitments, data collection & storage, planning, tracking milestones and deadlines. Customization of clinical trial management system is also applicable in order to reduce time and cost and to aid in enabling fast process of drug development. Advanced CTMS have reduced the communication period and enabled to access data regardless of time and place.
Key drivers of the global clinical trial management system market include increasing research and development expenditure of clinical research and life science industries, increasing number of clinical trials, and increase in number of new product launch. High accuracy of information provided by clinical trial management system will further accelerate clinical trial management system market. On the other hand, factors such as shortfall of skilled professionals to operate clinical trial management system, and budget limitations of small and medium sized biotechnology and pharmaceutical companies are prohibiting market growth. Strict regulations in various countries which lead complex clinical trial protocol may hinder market growth. Increasing adoption of clinical trial management system in new emerging markets would provide several opportunities in coming years.
The global clinical trial management system market is segmented on component, type, mode of delivery, end-user, and geography. By component, the segmentations are software and services. Further the market is segmented on basis of type as enterprise clinical trial management system and site clinical trial management system. On the basis of mode of delivery, the market is segmented into web based (on-demand), licensed enterprise (on-premise), and cloud based (SaaS). End-use market is segmented as pharmaceutical and biopharmaceutical companies, contract research organizations, medical device companies, and others.
Based on geography, global clinical trial management system market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, Japan, South Korea, and others while RoW is bifurcated into South America, Middle East, and Africa.
The key market players include Oracle Corporation, Medidata Solutions Inc, Parexel International Corporation, Mednet Solutions, Bioclinica, BioOptronics, Inc., DATATRAK International, Inc., Guger Technologies Inc., Forte Research Systems, and ICON plc, among others.
The key takeaways from the report
- The report will provide detailed analysis of the Global Clinical Trial Management System Market with respect to major segments such as component, type, mode of delivery and end-user
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Clinical Trial Management System Market has been included in the report
- Profile of the key players in the Global Clinical Trial Management System Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Clinical Trial Management System Market
- Enterprise Clinical Trial Management System
- Site Clinical Trial Management System
Mode of delivery Segments
- Web Based (On-Demand)
- Licensed Enterprise (On-Premise)
- Cloud Based (SaaS)
- Pharmaceutical and Biopharmaceutical Companies
- Contract Research Organizations
- Medical Device Companies
- Other End-Users
- North America
- South Korea
- South America
- Middle East