Selbyville, Delaware, July 20, 2020 (GLOBE NEWSWIRE) -- According to Market Study Report, North America clinical trial management system market garnered a valuation of USD 570 million in 2019 and is projected to reach USD 1.4 billion by the year 2026. Surging number of clinical trials for finding cures for various diseases and condition is the primary growth driver of industry, cites the report.
As per the American Pharmaceutical Review Supplement updated in 2015, phase 1 clinical trial costs stood at USD 24 million, whereas phase 2 was worth USD 86 million and phase 3 amassed USD 61 million. High cost of conducting these trials impact the overall treatment cost, which may hinder the industry growth over the forecast duration.
For the uninitiated, clinical trial management system (CTMS) eases various challenges and produces effective results during clinical trials. Moreover, medical history & evidences state that clinical trials can be immensely beneficial for patients and aid in improving therapeutic treatments. The ability to safeguard developments in medical practices is ultimately favoring the CTMS industry.
Request Sample copy of this Report @ https://www.marketstudyreport.com/request-a-sample/2609860/
Component type overview:
North America clinical trial management system market is split into software, hardware, and services. The foremost segment accounted for USD 390 million in 2019 and is expected to gain considerable traction over the projected timeline. The growth can be credited to several advantages of software solutions and increasing R&D expenditure on clinical research & life sciences.
Product insights:
Clinical trial management systems fall under two categories – enterprise based and site based. The former segment generated 70% revenue for North America clinical trial management system market in 2019. Enterprise based CTMS accelerates protocol design and allows faster admittance to patient recruitment and exchange & capture of subject data, which drive its demand.
Delivery mode analysis:
On-premise, web, and cloud are three delivery modes of clinical trial management system market. Among these, web-based segment is predicted to register a y-o-y growth rate of 14% through 2026. Wide range of applications, user-friendly interface, and high flexibility of web-based CTMS, with benefits like high cost efficiency and easier & faster approaches are augmenting the demand for these solutions.
End-use scope:
North America clinical trial management system market, based on the end-user scope, is divided into pharmaceutical & biopharmaceutical companies, healthcare providers, and clinical research organizations. As per credible sources, healthcare providers segment grasped 6% revenue share in 2019 and is expected to witness modest gains in the coming years. CTMS assists healthcare providers in monitoring and recording various procedures for future reference. It also enables data sharing between patients and regulatory bodies if required.
To access a sample copy or view this report in detail along with the table of contents, please click the link below:
Regional outlook:
U.S. and Canada are the prime contributors of North America clinical trial management system market. The study cites that United States leads the industry growth, owing to presence of well-established healthcare framework and supportive government. Further, inflow of funds by several organizations for conducting clinical trials is expected to expand the business landscape in the nation.
North America Clinical Trial Management System Market Component Sub-Segments (Revenue, USD Million, 2015-2026)
- Software
- Hardware
- Services
North America Clinical Trial Management System Market Product Sub-Segments (Revenue, USD Million, 2015-2026)
- Enterprise based
- Site based
North America Clinical Trial Management System Market Delivery Mode Sub-Segments (Revenue, USD Million, 2015-2026)
- On premise
- Web
- Cloud
North America Clinical Trial Management System Market End-use Sub-Segments (Revenue, USD Million, 2015-2026)
- Pharmaceutical and biopharmaceutical companies
- Healthcare providers
- Clinical research organizations
North America Clinical Trial Management System Market Regional Landscape Sub-Segments (Revenue, USD Million, 2015-2026)
- United States
- Canada
North America Clinical Trial Management System Market Competitive Backdrop (Revenue, USD Million, 2015-2026)
- Veeva Systems
- PAREXEL International Corporation
- Oracle
- OmniComm Systems, Inc.
- Merge Healthcare (IBM Watson Health)
- MedNet Solutions, Inc.
- Medidata Solutions, Inc.
- MasterControl Inc.
- Forte
- DSG Inc.
- DataTrak International
- Bio-Optronics, Inc.
- Bioclinica
Table of Content:
Chapter 1. Methodology
1.1. Definition and forecast parameters
1.2. Data sources
1.3. References & sources
Chapter 2. Executive Summary
2.1. North America clinical trial management system industry summary, 2015 - 2026
2.1.1. Country trends
2.1.2. Component trends
2.1.3. Product trends
2.1.4. Delivery mode trends
2.1.5. End-use trends
Chapter 3. Industry Insights
3.1. Industry segmentation
3.2. Industry outlook, 2015 - 2026
3.3. Major factor analysis
3.4. Regulatory landscape
3.4.1. U.S.
3.5. Technology landscape
3.6. Porter’s analysis
3.7. Competitive review, 2019
3.8. PESTEL analysis
Chapter 4. North America Clinical Trial Management System Market, By Component
4.1. Key trends in North America clinical trial management system, by component
4.2. Software
4.2.1. Market estimates and forecast, by country, 2015 - 2026 (USD Million)
4.3. Hardware
Chapter 5. North America Clinical Trial Management System Market, By Product
5.1. Key trends in North America clinical trial management system, by product
5.2. Enterprise based
5.2.1. Market estimates and forecast, by country, 2015 - 2026 (USD Million)
5.3. Site based
Chapter 6. North America Clinical Trial Management System Market, By Delivery Mode
6.1. Key trends in North America clinical trial management system, by delivery mode
6.2. Web
6.3. Cloud
6.4. On premise
Chapter 7. North America Clinical Trial Management System Market, By End-use
7.1. Key trends in North America clinical trial management system, by end-use
7.2. Pharmaceutical and biopharmaceutical companies
7.3. Clinical research organizations
7.4. Healthcare providers
Chapter 8. North America Clinical Trial Management System Market, By Country
Related Report:
Clinical Trial Management System (CTMS) Market Size, Application Potential, Competitive Market Share & Forecast, 2019 – 2025
Clinical Trial Management System Market will exceed USD 2.5 billion by 2025, as per a new research report. Increasing demand for contract research organizations for conducting clinical trials will augment the clinical trial management systems business growth over the analysis period. Benefits associated with outsourcing clinical trials including on time delivery, reduced cycle times and decreased administrative costs will foster industry growth. Use of clinical trials management systems (CTMS) in clinical trial has increased ability to deal with problems and produce effective results thereby, increasing its adoption in healthcare and pharmaceutical industries.
Asia-Pacific clinical trial management systems market will show fastest CAGR of 14.5% during the analysis timeframe. Growing number of companies for outsourcing clinical trials in emerging economies such as China, India and South Korea will impel business growth.
About US:
Market Study Report, LLC. is a hub for market intelligence products and services.
We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place.
Our customers partner with Market Study Report, LLC. to ease their search and evaluation of market intelligence products and services and in turn focus on their company's core activities.
If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report, LLC. is the platform that can help you in achieving any of these objectives.