Global Clinical Trial Management System Market is projected to be valued $XX Billion by 2025; with a CAGR of XX% from 2017 to 2025. Clinical trial management system (CTMS) is a software system used to manage clinical trials in clinical research. These systems are majorly used by biotechnology and pharmaceutical companies to manage and maintain the clinical trials reporting, data collection & storage, recruitments, planning, tracking milestones and deadlines. Customization of clinical trial management system is also applicable in order to aid in enabling fast process of drug development and reduce time and cost.
Increasing research and development expenditure of clinical research and life science industries, increase in number of new product launch, and increasing number of clinical trials are the various factors supplementing the growth of the market. However, budget limitations of small and medium sized biotechnology and pharmaceutical companies and shortfall of skilled professionals to operate clinical trial management system are restricting the market growth. High accuracy of information provided by clinical trial management system and increasing adoption of clinical trial management system in new emerging markets would provide several opportunities in coming years.
Type, component, mode of delivery, end-user, and geography are the various classifications of the market covered in the report. Software and services are the further sub-segments of the component segment. By type, the market is classified as enterprise clinical trial management system and site clinical trial management system. By mode of delivery, the market is segmented into web based (on-demand), licensed enterprise (on-premise), and cloud based (SaaS). Pharmaceutical and biopharmaceutical companies, contract research organizations, medical device companies, and other end-users are the bifurcations of the end-user segment.
North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the geographical splits of the market. The country wise analysis has been also covered under the scope of the report. North America covers the U.S., Canada, and Mexico wherein Europe covers UK, Germany, France, Italy, and Rest of Europe. China, Japan, South Korea, and Rest of Asia-Pacific are covered under the Asia-Pacific. Rest of the World (RoW) includes South America, Middle East, and Africa.
Major key players in the market include Parexel International Corporation, Mednet Solutions, Bioclinica, BioOptronics, Inc., Oracle Corporation, Medidata Solutions Inc, DATATRAK International, Inc., Forte Research Systems, Guger Technologies Inc., and ICON plc, among others.
The key takeaways from the report
Scope of Clinical Trail Management System Market
Mode of delivery Segments