Adoption Scenario of Clinical Trial Management Systems Market To Remain Positive Through 2023 – 2032 : Fact.MR

The Clinical Trial Management Systems (CTMS) market refers to the software systems that are used to manage clinical trials, including planning, tracking, and reporting. The market for CTMS is driven by the increasing demand for new drugs and medical devices, which require extensive clinical trials to ensure safety and efficacy. The global CTMS market size was valued at USD 1.02 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 12.1% from 2021 to 2028. The market growth is driven by the increasing adoption of electronic data capture (EDC) systems, rising demand for improved efficiency in clinical trial operations, and the need for compliance with regulatory requirements.

The key players in the CTMS market include Oracle Corporation, Parexel International Corporation, Bioclinica, Inc., Medidata Solutions, Inc., Veeva Systems Inc., IBM Corporation, and ArisGlobal LLC, among others. These companies offer a range of CTMS software and services to pharmaceutical and biotechnology companies, contract research organizations (CROs), and academic research institutions.

North America is the largest market for CTMS, followed by Europe and the Asia Pacific. The dominance of these regions can be attributed to the presence of a large number of pharmaceutical and biotechnology companies, academic research institutions, and CROs, as well as the well-established regulatory framework for clinical trials.

Overall, the CTMS market is expected to grow in the coming years, driven by the increasing demand for new drugs and medical devices, the adoption of EDC systems, and the need for more efficient and compliant clinical trial operations

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Key Segments Covered in Clinical Trial Management System Industry Survey

• By Mode of Deployment :
  • Cloud-based Clinical Trial Management Systems
  • Web-based Clinical Trial Management Systems
  • On-premise Clinical Trial Management Systems
• By Component :
  • Clinical Trial Management System Hardware
  • Clinical Trial Management System Services
  • Clinical Trial Management System Software
• By Product Type :
  • Enterprise-based Clinical Trial Management Systems
  • Site-based Clinical Trial Management Systems
• By End User :
  • Pharmaceuticals
  • Clinical Research Organizations (CROs)
  • Healthcare Providers

Competitive Landscape

• A strategic partnership between Kyoto University Hospital and Parexel, a preeminent global clinical research organization, was announced in October 2021. Its goals are to improve opportunities for clinical research and offer effective ways to support clinical studies.
• A triangular partnership between Parexel, Synexa Life Sciences, a company known for its biomarker and bioanalytical science, and Drawbridge Health, a healthcare technology company that is reimagining the blood draw process, was announced in November 2020. Delivering complete solutions for COVID-19 clinical serology testing was the focus of the collaboration.
• Oracle Corporation and Cerner Corporation announced a deal in December 2020 under which Oracle would tender an all-cash offer to buy Cerner for about USD 28.3 billion in equity value. Cerner is a well-known provider of digital information systems used in healthcare facilities and systems to enable medical professionals to offer patients and communities improved services.