The global clinical trial management system (CTMS) market is expected to
reach USD 2.2 billion by 2024, according to a new report by Grand View
Research, Inc. Rising research activities and increasing complexity in data
management for multiple verticals such as pharmaceutical and biotechnology are
anticipated to present the clinical trial management system market with
lucrative opportunities over the forecast period. These systems are capable for
speeding up the research activity along with cost containment which is crucial
for pharmaceutical companies that invest a lot on R&D innovation.
 |
| Global CTMS Market |
The present business scenario is witnessing rapid changes in the market
place and consumer preferences are pushing the players to innovate and generate
better performing products at a faster rate, in order to sustain the
competition. Owing to the aforementioned reason, CTMS are designed in way that
requires minimal documentation by clinical trial professionals avoids
unnecessary & repeat testing and facilitates easy payment management. This
at the end makes the whole process faster and reduces the time to market.
In depth research report on Clinical Trial
Management System (CTMS) Market
Further key findings from the study suggest:
·
Enterprise
based CTMS segment is expected to hold maximum shares and witness the fastest
growth over the forecast period. Enterprise system dominated owing to their
convenience and multiple user access. For instance, the enterprise CTMS
currently being used in the University of Minnesota which offers implementation
of a variety of functions via its core module.
·
Cloud-based
delivery mode is expected to witness the fastest growth and contribute over
15.0% share by 2024. Increasing popularity leading to higher adoption by
end-users for cloud-based CTMS is the vital impact rendering driver.
·
Pharmaceutical
& biotechnology firms held about 40.0% share in 2025 and is expected to
contribute highest revenue over the forecast period. Extensive pipeline and
rising affinity towards collaborative research over the next decade is
predicted to boost market growth.
·
Asia Pacific
is projected to drive the market growth and provide numerous opportunities to
industry players. The efforts by government officials and research industry
towards improving infrastructure, rising number of research studies and
digitalization coupled with centralization of the management systems are
promoting growth of CTMS market over the forecast period.
·
The market is
highly fragmented with numerous budding small scale companies. Few of the
participants include; PARAXEL International Corporation, DATATRAK, Guger
Technologies, Forte Research Systems Inc., MedNet Solutions, Bioclinica,
Medidata Solutions Inc., and Oracle Corporation.
Grand View Research has segmented the global CTMS market on the basis of
type, delivery mode, component, end-users and region.
By Type (USD Million), 2013 - 2024
·
Enterprise
·
Site
By Delivery Mode (USD Million), 2013 - 2024
·
Web-Based
·
Cloud-Based
·
On-Premise
By Component (USD Million), 2013 - 2024
·
Software
·
Service
By End-users (USD Million), 2013 - 2024
·
Pharmaceutical
& Biotechnology Firms
·
Clinical
Research Organizations (CROs)
·
Medical Device
Firms
·
Others
By Region (USD Million), 2013 - 2024
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
MEA
o
South Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
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