
Clinical Trial Management System Market (Forecast Period 2021-2028): The report provides a valuable source of insightful data for business strategists and competitive analysis of Clinical Trial Management System Market. The study covers important knowledge that makes the analysis document a handy resource for managers, analysts, business consultants and different key individuals get ready-to-access and self-analyzed study in conjunction with graphs and tables to assist perceive market trends, drivers and market challenges.It also highlights the restraints and opportunities expected to influence the market’s growth during the said period. The study provides a holistic perspective on the market’s growth throughout the above mentioned forecast period in terms of revenue(in US$ Mn) and Volume (Thousand Units), across different geographies.
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Major Players In This Market Are: Oracle Corporation, Medidata Clinical Cloud, Veeva Systems, Infosys, Bio-Optronics, BioClinica, and MedNet Solutions.
Clinical trial management software are developed and modified by various healthcare IT companies, globally. Customized software are available for the management of clinical trial data as per client requirement and study protocol. For instance, according to the study conducted by the University of Minnesota and University of Michigan in 2018, OnCore clinical trial management system is mostly used by contract research organizations (CROs) and pharmaceutical companies that are involved in conducting clinical trials. This is owing to its features such as clinical research management, study setup, eCRFs, financials, visit tracking & data capture, study data management, and revenue management. Such factors are expected to drive the clinical trial management system market growth over the forecast period.
Browse 23 Market Data Tables and 19 Figures spread through 157 Pages and in-depth TOC on ‘Clinical Trial Management System Market, by Mode of Delivery (Cloud-based and On-premise), by Offering (Software and Services), by End User (Healthcare Companies, CRO, Medical Device Companies, and Others (Research Institutes, Hospitals, etc.)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2027’
Players in the clinical trial management system market are focused on adoption of organic growth strategies such as product launches, in order to strengthen their foothold in the global market and increase their revenue. For instance, in December 2015, PAREXEL International Corporation launched the IMPACT Express Clinical Trial Management System (CTMS). Cost-effective clinical trial management solutions are offered by this system to simplify clinical trial management and it also offers monitoring options for small to mid-sized biopharmaceutical companies.
Furthermore, key players are largely adopting strategies such as acquisitions, which is expected to fuel demand for CTMS and in turn boost growth of the global clinical trial management system market. For instance, in July 2017, Anju Software Inc., a developer of a life sciences software platform, acquired ClinPlus, a division of DZS Software Solutions, Inc. ClinPlus is engaged in offering all the products, software, and services such as CTMS, eTMF, Data Management, Coding and SAS Reporting, and others that are used for conducting clinical trials.
However, alternatives are available for conventional clinical trial management systems, which is expected to restrain growth of the clinical trial management systems market. For instance, in October 2015, Accelovance, a contract research organization (CRO), selected ERT’s Insights Cloud to replace traditional CTMS. The Insights Cloud is a Clinical-Trials-Intelligence-Solution developed by ERT, a provider of high-quality patient safety and efficacy endpoint data collection solutions.
Key Takeaways of the Global Clinical Trial Management System Market:
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The global clinical trial management system market is expected to expand at a CAGR of 12.8% during the forecast period (2019 – 2027). This is attributed to rising product launches of advanced clinical trial management systems.
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The main focus of contract research organizations is to adopt innovative and technologically advanced clinical trial management systems to conduct and manage clinical data and workflows in a more efficient manner. For instance, in July 2019, Catalyst Clinical Research, a leading provider of flexible, customized, clinical research solutions, adopted the Rave Clinical Cloud, developed by Medidata. The system is a combination of Rave CTMS, Rave EDC, and Rave eTMF.
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In this study, the years considered to estimate the market size of Clinical Trial Management System are as follows:
History Year: 2017-2020
Base Year: 2020
Estimated Year: 2021
Forecast Year 2021 to 2028
The next part also sheds light on the gap between supply and consumption. Apart from the mentioned information, growth rate of Clinical Trial Management System Market in 2028 is also explained. Additionally, type wise and application wise consumption tables and figures of Clinical Trial Management System Market are also given.
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