Clinical Trial Management System Market is valued at USD 745.86 Million in 2020 and expected to reach USD 1711.70 Million by 2027 with the CAGR of 12.60% over the forecast period.
Global Clinical Trial Management System Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Increasing R&D investment by the pharmaceutical, life science, and clinical research industries is one of the major factors driving the growth of Global Clinical Trial Management System Market
It is a software system used by biotechnological and pharmaceutical industries to manage clinical trials in clinical research. It involves management of clinical trial records in clinical research. It starts from planning of research proposal to preparation, conduct of trial, report generation, CTMS maintenance and managing the clinical trial data. It is used within the biopharmaceutical industry to mention to trial automation technology. It reduces the communication period for a multi-centered clinical trial. Clinical trial management system provides the valuable information like Clinical trial program/ project management, trial and site planning site and subject management, study management, investigator management, study financials and investigator grants and payments management lastly clinical trial performance and reporting.
Clinical Trial Management System market report is segmented on the basis of type, application and by region & country level. Based upon type, clinical trial management system market is classified into web-based CTMS, licensed enterprise (On-premise) CTMS and cloud-based (SaaS) CTMS. Based upon application, the market is classified into pharmaceutical and biopharmaceutical companies, contract research organizations, medical device companies and others.
The regions covered in this Clinical Trial Management System market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Clinical Trial Management System is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Clinical Trial Management System market report covers prominent players are Parexel International, Medidata Solutions, BioClinica, Bio-Optronics, Mayo Clinic, Oracle Corporation, ERT, eClinforce, Merge Healthcare Incorporated, DATATRAK International, Veeva Systems, DSG, Forte Research Systems, MedNet Solutions and Others.
Bio-Optronics Supports COVID-19 Trial Sites with CCTrialSuite
March 27th, 2020; Bio-Optronics, manufacturers of the industry-leading CCTrialSuite, the business’s most inclusive set of combined clinical research management products, is currently working with multiple hospitals and health systems throughout the US that are starting COVID-19 clinical trials.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 745.86 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||12.60 %|
|Market Size Expected in 2027:||USD 1711.70 Million|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Parexel International, Medidata Solutions, BioClinica, Bio-Optronics, Mayo Clinic, Oracle Corporation, ERT, eClinforce, Merge Healthcare Incorporated, DATATRAK International, Veeva Systems, DSG, Forte Research Systems, MedNet Solutions and Others|
|Segments Covered||By Type, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
Rising innovative technological advancements to reduce the rising costs associated with clinical trials have resulted in the development of the clinical trial management system. These factors are expected to drive the growth of clinical trial management system markets. According to the ClinicalTrials.gov currently lists 335,815 studies with locations in all 50 States and in 210 countries. Additionally, rising aging population, chronic diseases such as diabetes, cancer, and AIDS in different parts of the world has significantly increased the number of pipeline drugs that require extensive clinical trials before approval. According to the WHO, between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. However, high costs associated with clinical studies may impede the industry growth over the analysis period. In spite of that, the increased adoption of clinical trial management systems in the past few years has been a major factor that has contributed to the clinical trial management system market during forecast period.
Global Clinical Trial Management System Market Regional Analysis–
North America is expected to dominate the global clinical trial management system market with the potential rate due to rising R&D investment by the pharmaceutical, life science, and clinical research in this region. According to World Health Organization (WHO), over the analysis period i.e. from 1999 to 2019, there was a stable growth for most WHO counties, in the number of newly recruiting trials registered on Clinical Trials Registry. However, in WHO’s Europe, Americas and Western Pacific regions, the number of such trials registered has increased at a much higher rate than in other regions.
The Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period due to the increased investment by pharmaceutical and biotechnology companies coupled with government funding in this region. According to the IBIS World, estimates that revenue for the Clinical Trial Support Services industry has increased an annualized 3.0% during the period to $2.1 billion in 2018.
By Regional & Country Analysis:
Middle East and Africa
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