The Global Clinical Trial Management System Market Size is expected to have lucrative growth due to higher prevalence of diseases, R&D activities in life science and clinical research industries and outsourcing of clinical trial process. Furthermore, raising new product developments, integration of HIS and CTMS and higher adoption of CTMS solutions by end users are some strong factors that may propel the market growth.
The global Clinical Trial Management System market is anticipated to increase at a 14% CAGR to reach value US$ 7 Bn in 2031
the basis type, the global Clinical Trial Management System (CTMS) market is bifurcated into site and enterprise. Enterprise CTMS is at top of the market due to the benefits it offers such as real-time insights into the operational activities like robust reporting, accruals and deviations, tracking and management, enhanced billing compliance of regulatory processes. Additionally, enterprise CTMS helps in bringing consistency in the budget coupled with stronger support for financial management. Bio-Optronics, Forte Research Systems Inc. and Oracle Corporation are the companies which offer enterprise CTMS.
Based on the delivery mode, the web-based CTMS is anticipated to lead the Clinical Trial Management System (CTMS) market share. The growth is attributed to the fact that web-based CTMS solution improves quality of productivity, timeliness and clinical trials, ease of access that enables easier co-relative studies, faster transfer of data and less cost offered than other products.
Based on end-user, the biopharmaceutical and pharmaceutical companies’ classification is anticipated to hold largest clinical trial management system market share. There is higher adoption of CTMS software at time of drug clinical trials by biopharmaceutical and pharmaceutical companies.
the growing prevalence of diseases is favoring the clinical trials in varied regions and increased clinical research outsourcing plays a key role in growth of CTMS market. Higher regulatory requirements in different countries has given rise to higher complexity for clinical trial protocols. Presence of different end users such as clinical research organizations (CRO), healthcare providers and pharmaceuticals has adhered the acceptance of CTMS.
America is considered traditional clinical region. Due to legal and regulatory considerations, clinical trial market has moved from North America to developing countries such as China and India. The U.S. clinical trials have been sponsored and funded by voluntary health organizations and industry, academic groups, and National Institute of Health (NIH).
Central and Eastern Europe offers abundant chance to life science companies for clinical development purpose. With the incremental governmental funding and support for biomedical sciences which made Germany a preferred location for clinical trials.
However, at rank of fastest growing region comes Asia with the enhanced industry patent expiration laws and regulatory laws in different countries which includes India, China and Japan which have expanded clinical trial management system market share in Asia. When compared to Europe and the U.S., Asia has lower cost of conducting clinical trials.
Bio-Optronics, Inc., DSG Inc. (Document Solutions Group), Medidata Solutions, Parexel International Corporation, ERT, Forte Research Systems, Merge Healthcare Incorporated, ArisGlobal, Bioclinica, Inc., Datatrak International, Inc., eClinForce, Inc., Inc., Inc., Mednet Solutions, Inc., Oracle Corporation, and Veeva Systems, Inc. are some of the leading international players operating the global Clinical Trial Management System (CTMS) market.
Clinical Trial Management System Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||US$ 7 Bn|
|Growth Rate||CAGR of 14% during 2021-2031|
|Segment Covered||End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Oracle Corporation (US), Medidata Solutions (US), Parexel International (US), Bioclinica (US), IBM (US) Bio-Optronics (US), Datatrak (US), Veeva Systems (US), DSG (US), MasterControl (US), ERT (US), Advarra Technology Solutions (US), MedNet Solutions (US), ArisGlobal (US), DZS Clinical Services (US), Crucial Data Solutions (US), Ennov (France), DataStat (US), and RealTime Software Solutions LLC (US).|
Key segments of ‘Global Clinical Trial Management System (CTMS) Market’
Based on type, the market has been segmented into,
Based on delivery mode, the market has been segmented into,
- On premise
Based on region, the market has been segmented into,
- North America
- Latin America
- The Middle East & Africa
- Saudi Arabia
- South Africa