Global Clinical Trial Management System Market is Estimated to Reach $4 Billion by 2025, Says Accurize Market Research
Global clinical trial management system market report published by Accurize Market Research forecast that the global market is expected to reach $4 billion by 2025; growing at a CAGR of 14% from 2017 to 2025. By geography, Asia Pacific and Europe are expected to grow at a CAGR of 15.3% and 14.2%, respectively, during the forecast period.
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Rising R&D investments and increasing number of clinical trials across the globe to drive the growth of the market
Rising R&D investments and increasing number of clinical trialsfuel the demand for the global clinical trial management system market. Moreover, increasing product launches and need for accurate data also boost the growth of the market.
Market Segmentation
The global clinical trial management system market has been bifurcated on the basis of component, type, mode of delivery, end-user, and geography. By component, it is further segmented into software and services. Type can be segmented into enterprise clinical trial management system and site clinical trial management system. Furthermore, the mode of delivery segment is segmented into web based (on-demand), licensed enterprise (on-premise) and cloud based (SaaS) segments.End-user segment can be segmented intopharmaceutical and biopharmaceutical companies, contract research organizations, medical device companies, and others.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East, and Africa.
“Cloud based (SaaS) accounted for the largest market share in the mode of deliverysegment", says Accurize
Bymode of delivery, cloud based (SaaS) accounted for the largest market share, followed by web based (on-demand).
Pharmaceutical and biopharmaceutical sector dominated the end-user segment with maximum share in 2017.
“Software accounted for the largest market share in the component segment", says Accurize
By component, Software dominated the component segment with largest market share in 2017.
“North America dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, North America dominated the market with 60% share followed by Europe with 27%. In terms of growth, Asia-Pacific is anticipated to attain the fastest CAGR during the forecast period, owing to improving infrastructure, increasing outsourcing of clinical trials, and increasing need for digitalization.
Top players in the market
The key market players include Oracle Corporation, Medidata Solutions Inc, Parexel International Corporation, DATATRAK International, Inc., Guger Technologies Inc., Forte Research Systems, Mednet Solutions, Bioclinica, BioOptronics, Inc., and ICON plc, among others.
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