Dublin, July 17, 2024 (GLOBE NEWSWIRE) -- The "Clinical Trial Management Systems (CTMS) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Clinical Trial Management Systems (CTMS) is estimated at US$1.7 Billion in 2023 and is projected to reach US$4.5 Billion by 2030, growing at a CAGR of 14.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the Clinical Trial Management Systems market is driven by several factors. The increasing number of clinical trials, fueled by the rising prevalence of chronic diseases and the urgent need for new therapies, has created a robust demand for efficient trial management solutions.
The pharmaceutical and biotechnology industries are heavily investing in research and development, further propelling the need for advanced CTMS platforms. Regulatory requirements and the need for compliance with standards such as Good Clinical Practice (GCP) and the International Council for Harmonisation (ICH) guidelines are also significant drivers, as CTMS helps in maintaining rigorous documentation and reporting standards.
Additionally, the shift towards patient-centric trials and personalized medicine is pushing the demand for more adaptive and flexible CTMS solutions that can cater to diverse and dynamic trial designs. The growing adoption of cloud-based CTMS is another critical factor, offering enhanced scalability, reduced IT costs, and improved accessibility. These drivers collectively underscore the essential role of CTMS in optimizing clinical trial processes, ensuring regulatory compliance, and ultimately accelerating the delivery of new treatments to the market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Enterprise-Wide CTMS segment, which is expected to reach US$3.1 Billion by 2030 with a CAGR of a 15.0%. The On-Site CTMS segment is also set to grow at 13.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $477.9 Million in 2023, and China, forecasted to grow at an impressive 13.7% CAGR to reach $684.9 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as ArisGlobal LLC, BioClinica Inc., Bio-Optronics Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 208 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.7 Billion |
| Forecasted Market Value (USD) by 2030 | $4.5 Billion |
| Compound Annual Growth Rate | 14.5% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- Global Economic Update
- Clinical Trial Management Systems (CTMS) - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Digital Transformation in Healthcare Spurs Adoption of CTMS Solutions
- Advances in Cloud Computing Expand Addressable Market Opportunity
- Increased Clinical Trial Complexity Strengthens Business Case for CTMS
- The Rise of Decentralized Trials Propels Growth of CTMS Market
- Integration of AI and Machine Learning Technologies Generates New Opportunities for CTMS
- Adoption of eClinical Solutions Drives Market Expansion
- Focus on Patient-Centric Trials Accelerates Demand for CTMS
- Growing Outsourcing of Clinical Trials to CROs Fuels CTMS Market Growth
- Increased Investment in Life Sciences Sector Drives Adoption of CTMS
- Interoperability Challenges and Solutions Generate Demand for CTMS
- The Push for Real-World Evidence (RWE) Strengthens Business Case for CTMS
- Rising Number of Clinical Trials Globally Expands Addressable Market Opportunity
- Technological Innovations in CTMS Platforms Propel Market Growth
- Growth in Biopharmaceutical and Medical Device R&D Generates Demand for CTMS
- Efforts to Improve Trial Efficiency and Reduce Costs Drive CTMS Market
- Adoption of Mobile and Remote Monitoring Technologies Spurs Demand for CTMS
FOCUS ON SELECT PLAYERS(Total 71 Featured)
- ArisGlobal LLC
- BioClinica Inc.
- Bio-Optronics Inc.
- DSG Inc.
- eResearch Technology Inc.
- IBM Watson Health
- Medidata Solutions
- MedNet Solutions
- Nextrials Inc.
- Oracle Corp.
- PAREXEL International Corp.
- Trial By Fire Solutions LLC
- Veeva Systems Inc.
For more information about this report visit https://www.researchandmarkets.com/r/3fnuuq
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