Clinical Trial Management System (CTMS) Market Growth Drivers | Top Company Profiles | Regional Estimates

Felton, Calif., USA, Jan. 29, 2021 — /EPR Network/ —

The global Clinical Trial Management System (CTMS) Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

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 with CAGR of 12.1%. 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.

Key Players:

  • Paraxel International Corporation
  • Oracle Corporation
  • Medidata Solutions Inc.
  • Forte Research Systems Inc.
  • Medpace Holdings Inc.
  • Clinical Data Inc.
  • Bioclinica Inc.
  • Datatrak International Inc.
  • Tec Medical Engineering Gmbh

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Growth Drivers:

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%.

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.

End-use Outlook:

  • Pharmaceutical and Biotechnology firm
  • CROs
  • Medical Device Firm

Delivery Mode Outlook:

  • Web-based
  • Cloud-based
  • On-premise

Regional Outlook:

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.

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