Clinical Trial Management System Market by Product, Delivery, Deployment and End-user – Global Forecasts to 2025 – ResearchAndMarkets.com | Financial Buzz

Clinical Trial Management System Market by Product, Delivery, Deployment and End-user – Global Forecasts to 2025 – ResearchAndMarkets.com

The “Clinical Trial Management System Market by Product (Software, Services), Delivery (Web-hosted, On-premise, Cloud-based), Deployment (Enterprise, On-site), End User (Pharma, Medical Device Manufacturers, CROs) – Global Forecasts to 2025” report has been added to ResearchAndMarkets.com’s offering.

The clinical trial management system market is projected to reach USD 1,590 million by 2025 from USD 801 million in 2020, at a CAGR of 14.7%.

The growth of the CTMS market is driven by rising industry-academia collaborations, the increasing number of clinical trials, rising technology adoption, and government support for research trials. However, budget constraints and limited knowledge about advanced CTMS solutions restrain the market growth

In terms deployment mode, enterprise-wide segment to register significant growth during the forecast period.

Based on the deployment mode, the clinical trial management system market is segmented into enterprise-wide and on-site CTMS. The enterprise-wide segment accounted for the largest share in the year 2019. The large share of this segment can be attributed to its widespread adoption by the majority of end users due to its benefits.

In terms delivery mode, web-based (on demand) segment to register significant growth during the forecast period.

Based on the delivery mode, the clinical trial management system market is segmented into web-based (on demand), licensed enterprise (on-premise), and cloud-based (SaaS). The web-based (on demand) segment accounted for the largest share in the year 2019. The large share of this segment can be attributed to the advantages offered by web-based software, such as easy access, improved productivity, and time and cost-efficiency.

In terms of products & service, software segment to register significant growth during the forecast period.

Based on the product & service, the clinical trial management system market is segmented into software and service. Rising R&D expenditure, an increasing number of clinical trials, and the growing adoption of clinical trial management solutions are some of the key factors driving the growth of the software market

Large pharma-biotech companies segment is expected to account for the largest share of the clinical trial management system market, by the end-user

The clinical trial management system market has been segmented based on end-user category-large pharma-biotech companies, small & mid-sized pharma-biotech companies, CROs, medical device manufacturers, and other end users. Large pharma-biotech companies segment accounted the highest market share in the year 2019. The CROs segment holds the second-largest market share; it is projected to register the second-highest CAGR during the forecast period.

Asia Pacific market is expected to grow at the highest CAGR during the forecast period.

The Asia Pacific market is projected to register the highest CAGR during the forecast period. In 2019, Asia Pacific region is expected to offer significant opportunities for the growth of the clinical trial management system market. The major factors driving the growth of the Asia Pacific market include increasing government funding to support clinical trials, the presence of less stringent regulatory guidelines as compared to developed nations, a large patient base, faster rate of patient recruitment for clinical trials than mature nations, low operating costs for conducting clinical trials, a shortage of trial volunteers in Europe and North America, and the growing number of pharmaceutical companies and CROs in the region.

Market Dynamics

Drivers
  • Significant Operational Costs and Regulatory Requirements Associated with Clinical Research
  • Research Partnerships Between Pharma-Biopharma Companies and Cros
  • the Rising Number of Clinical Trials and the Availability of Advanced CTMS Solutions
  • Expansion of the Target Customer Base
  • Rising Government Funding and Grants to Support Clinical Trials
Restraints
  • Budget Constraints
Opportunities
  • Increasing Outsourcing of Research Processes
  • Greater Integration with Platform-As-A-Service (Paas) and Mobile Computing
  • Investment in Effective Digital Infrastructure and Agility in Technological Adoption
Challenges
  • Lack of Skilled Professionals
  • Fragmented and Highly Regulated Industry
  • Patient Privacy
  • Limited Awareness Among Researchers About Associated Advantages
Key Trends
  • Integration of CTMS with Software Such as His, Emr, and EDC
  • Mergers and Acquisitions
  • Shift from Manual Data Interpretation to Real-Time Data Analysis During Clinical Studies

Companies Mentioned

  • Advarra Technology Solutions
  • Arisglobal
  • Bio-Optronics
  • Bioclinica
  • BSI
  • Crucial Data Solutions (Cds)
  • Datastat
  • Datatrak International
  • DSG
  • DZS Clinical Services (WDB Holdings Co. Ltd)
  • Ennov
  • ERT
  • IBM
  • Mastercontrol
  • Medidata Solutions
  • Mednet Solutions
  • Oracle
  • Parexel International Corporation
  • Realtime Software Solutions LLC
  • Veeva Systems

For more information about this report visit https://www.researchandmarkets.com/r/msww6p

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