Dublin, Jan. 04, 2022 (GLOBE NEWSWIRE) -- The "Global Clinical Trial Management Systems Market" report has been added to ResearchAndMarkets.com's offering.
The global market for clinical trial management systems was valued at $920.8 million in 2021. The market is expected to grow at a compound annual growth rate (CAGR) of 12.2%, to reach $1.6 billion by 2026. The global market is mainly driven by the increasing adoption of CTMSs in clinical trials and the rise of research and development (R&D) expenses of CRO. The fast spread of the coronavirus COVID-19 is also seen as another primary driver in the need for CTMS platforms.
The need to adopt patient-centric clinical trials has never been more acute for global pharmaceutical organizations. One of the greatest learnings from the COVID-19 pandemic was the tremendous potential held by digital technologies to enable remote and personalized clinical trials, also referred to as "decentralized" trials, to achieve trial continuity and operational efficiencies. With the advancement in technology, proactive guidance from regulators and a surge in wearable and devices, the adoption of decentralized trials has slowly become a must-have rather than a good-to-have initiative.
With the use of CTMS healthcare systems, professionals can easily access centralized data, thereby reducing the number of delayed trials. It can also handle site recruitment and identification while simultaneously providing control and tracking over subjects' databases and subject enrolment.
Market Dynamics
- Drivers
- Increased Outsourcing of Clinical Trials
- Growing Number of Clinical Trials
- Rising R&D Expenditure of Biopharma Companies
- Increasing Prevalence of Chronic Diseases
- Restraints
- Unreliable and Inaccurate Data
- Complex and Poorly-Integrated Systems
- Regulatory Barriers and Approval Delays
Report Scope
This report examines the current and forecasted market potential for clinical trial management systems. It offers a detailed analysis of the market background, technological advancement, competitive environment, drivers and restraints, and market growth trends. This report includes market projections through 2026, detailing the market share for clinical trial management systems based on the product, deployment and delivery mode.
The clinical trial management systems product market is segmented into software and services. The clinical trial management systems deployment market is segmented into enterprise-based CTMS and site-based CTMS. The clinical trial management systems delivery market is segmented into web-based, cloud-based and on-premises services.
The clinical trial management systems market has been geographically segmented into Europe, North America, the Asia-Pacific (APAC) region and the Rest of the World (RoW). The detailed analyses of major countries such as the U.S., Germany, Canada, the U.K., Spain, Italy, France, Japan, India and China are regional segments. For market estimates, data are provided for 2020 as the base year, and then forecast from 2021 through year-end 2026. Estimated values are based on clinical trial management systems companies' total revenues. Projected and forecast revenue values are in constant U.S. dollars that have not been adjusted for inflation.
The report includes:
- An overview of the global markets for clinical trial management systems
- Estimation of the market size and analyses of market trends, with data from 2019 to 2020, estimates for 2021 and projection of CAGR through 2026
- Quantification of clinical trial management systems market based on product type, deployment, delivery mode and region, and analysis of market drivers, restraints and other forces impacting the global market
- Highlights of the current and future market potential and insights into government initiatives, regulatory framework and reimbursement scenario
- Detailed description of the advanced technologies for clinical trial management systems and discussion on how they are advantageous to pharmaceuticals, biotech and other research-focused life sciences organizations
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships and other key market strategies and a relevant patent analysis
- Company profiles of major players, including Advarra, Calyx, DatStat, Medidata and Oracle
Companies Profiled
- Advarra
- BSI Business Systems Integration AG
- Calyx
- Clario
- Datstat (R1 Company)
- Datatrak Int
- Ennov
- Medidata Solution Inc. (Dassault Systemes)
- Oracle
- Realtime Software Solutions LLC
- Veeva Systems Inc.
For more information about this report visit https://www.researchandmarkets.com/r/8fb51w
