Web-based clinical trial management systems lead the market with a 70% revenue share, driven by cloud computing and AI adoption.
250 Pages Web-based Clinical Trial Management Systems Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
ICT companies are extensively adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue working from home. Focus on fast automation, use of real-time operation within various end-use sectors such as automotive, food & beverage and others will provide stimulus to the growth.
The report offers actionable and valuable market insights of Web-based Clinical Trial Management Systems. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Web-based Clinical Trial Management Systems Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Web-based Clinical Trial Management Systems market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Web-based Clinical Trial Management Systems
This newly published and insightful report sheds light on Market Insights of Web-based Clinical Trial Management Systems, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Web-based Clinical Trial Management Systems Market.
Essentiality of recording the varying requirements and imperative tasks of participants running a trail has driven the need for e-clinical framework, which is likely to become the master system of clinical trials as it evolves and integrates with other components of e-clinical continuum.
Clinical trial management systems market (CTMS) will also be driven by increasing clinical trials outsourcing by pharmaceutical companies to contract research organizations (CROs) for execution, in a bid to enhance sourcing flexibility, meanwhile focusing on higher-priority activities such as drug discovery.
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Prominent companies operating in the market, such as Cognizant, Veeva Systems, and Medidata, have greater footprint in North America, followed by APEJ on account of relatively higher demand in these regions.
Although large companies operate in the market, their focus on CTMS solutions is currently low.
However, future advancements and demand trends are likely to lead the market stakeholders to focus more on investment and development of CTMS solutions.
Overall, the CTMS market will record an impressive expansion in the near future.
Fact.MR has recently developed a new research analysis on the clinical trial management system market, which exerts accurate forecasts on the market for the period between 2018 and 2027.
This report is an explicit source of information, which imparts data on recent market dynamics, latest industry trends, potent markets, technology advancements & developments, and product innovation, along with an all-inclusive regional market coverage.
Comprehensive study on the clinical trial management system market is issued in the report, to help clients in attaining a competitive edge by attracting potential customers.
Web-based clinical trial management systems continue to be the preferred mode of deployment for pharmaceutical and biotechnology companies, finds a new study by Fact.MR. The report projects that web-based clinical trial management systems will remain pervasive in the clinical trial management systems market during the review period 2018-2028, gaining an impressive US$ 116 Mn in incremental opportunity in a decade.
The report is bullish on the prospects of clinical trial management systems market, and expects revenues to surpass US$ 1 billion during the course of the forecast period. Growth will be induced by a range of macroeconomic and industry-specific factors, with growing awareness on the critical role of clinical trial management systems in improving workflow influencing investment.
The report finds that sensitization about the operational benefits of clinical trial management system over manual paper-based process has been a key factor for increased adoption. While a majority of end-users are using clinical trial management systems in-house, a significant percentage of end-users also outsource to vendors, such as CROs and SMOs. Outsourcing of site monitoring, site management, and schedule tracking functions was highest among end-users.
According to the report, standardization, SaaS-based solutions, and flexibility in terms of pricing and licensing are among the key evolutions in the clinical trial management system market. The increasing complexity in clinical trials has meant that pharmaceutical companies prefer outsourcing clinical trial execution to contract organizations. Outsourcing is likely to gain further momentum during the assessment period as proliferation of specialty clinical research organizations and academic research organizations (AROs) witnesses a spike.
The report finds that revenues generated from clinical trial management software are higher than services, and the status quo is unlikely to remain unchanged during the assessment period. The revenues generated from clinical trial management software is nearly 3x of services in 2018, and both these segments are likely to grow at similar CAGR during the assessment period.
Preference for enterprise-based clinical trial management systems is higher among end-users. The preference for enterprise-based clinical trial management systems can be gauged by the fact that this segment accounted for nearly three-fourth revenue share of the market in 2018. The preference for enterprise-based clinical trials is likely to continue unabated during the review period.
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Fact.MR, in its new report, offers an unbiased Market Analysis of Web-based Clinical Trial Management Systems, Sales and Demand of Web-based Clinical Trial Management Systems, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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The article discusses the dominance of web-based clinical trial management systems in the market.
How does technology impact CTMS growth? Cloud computing and AI are key drivers.
Which regions are most impacted? North America and APEJ show higher demand.
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