Dublin, June 07, 2022 (GLOBE NEWSWIRE) -- The "Clinical Trials Management System Market Size, Share & Trends Analysis Report by Solution Type (Enterprise, Site), by Delivery Mode (Web & Cloud-based, On-premise), by Component, by End User, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global clinical trials management system market size is anticipated to reach USD 4.72 billion by 2030. The market is expected to expand at a notable CAGR of 13.9% from 2022 to 2030.
The key factors driving the market growth include the rising number of clinical trials, digitalization across healthcare R&D, number of decentralized trials, and product enhancements. The Clinical Trial Management System offered by SimpleTrials, for instance, includes features such as contact management, calendar & monitoring, project planning, document management & eTMF, contract & payment system, subject tracking, visit report authoring & letter generation, EDC integration, and reporting and business analytics.
The COVID-19 pandemic resulted in several challenges in conducting and operating clinical trials. As per a survey published by Oracle in 2021, 12% reported that clinical trial activity was paused. These respondents represented professionals involved in clinical trials at CROs, medical device companies, and biopharmaceutical companies.
However, the urgency to develop vaccines and other treatment options supported the adoption of emerging technologies. These included video visits, phone visits, remote monitoring, eConsent, and EHR. In fact, about 76% of respondents reported that the pandemic catalyzed their adoption of decentralized clinical trial methods. The trend is projected to continue post-COVID and is expected to propel the demand for CTMS solutions.
Increasing investments by pharmaceutical and biotechnology companies, medical device companies, and CROs coupled with government funding are promoting research activities. This factor is expected to boost demand for clinical trial management systems. According to the estimates of the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), global research-based biopharmaceutical industry has spent around USD 179 billion on R&D in 2018.
This number is estimated to reach USD 202 billion by 2022. These investments facilitate the development of new medicines and vaccines to prevent and treat diseases. Some of the popular therapeutic areas for drug development include cancer, immunology, neurology, infectious diseases, and others.
Clinical Trials Management System Market Report Highlights
- The Clinical Trials Management System (CTMS) market was valued at USD 1.50 billion in 2021 and is expected to expand at a CAGR of 13.9% during the forecast period.
- Rising prevalence of chronic diseases, number of clinical studies, initiatives by market players, and flow of R&D investments are expected to drive the market growth during the forecast period.
- The increasing demand for interoperable solutions and adoption of AI and machine learning (ML) in healthcare are other key factors fueling market growth.
- Clinical Trial Management System is one of the three applications of IQVIA's Digital Trial Management Suite. It is designed to improve patient safety, produce faster trials to database lock, and speed up time to market.
- IQVIA's CTMS solution uses both AI and ML to provide predictive intelligence and also increases interoperability with EDC.
- The web & cloud-based segment dominated the market by delivery mode in 2021. The enterprise segment on the other hand, held the largest share of the solution type segment.
- This is owing to increasing adoption of cloud-based technologies and enterprise-wide applications of CTMS solutions..
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Clinical Trials Management System (CTMS) Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Penetration & Growth Prospect Mapping, 2021
3.3 Clinical Trials Management System (CTMS) Market Dynamics
3.3.1 Market driver analysis
3.3.2 Market restraint analysis
3.4 Clinical Trials Management System (CTMS) Market Analysis Tools: Porters
3.5 Clinical Trials Management System (CTMS) Industry Analysis-PEST (Political & Legal, Economic, Social, and Technological)
3.5.1 Political/Legal Landscape
3.5.2 Economic Landscape
3.5.3 Social Landscape
3.5.4 Technology Landscape
Chapter 4. COVID-19 Impact Analysis
4.1 COVID-19 Prevalence Analysis
4.2. Current Impact & Future Scenario
4.3. Impact on Market Players
Chapter 5. Clinical Trials Management System (CTMS) Market : Segment Analysis, by Solution Type, 2017-2030 (USD Million)
5.1 Solution Type Market Share Analysis, 2021 & 2030
5.2 Clinical Trials Management System (CTMS) market, by Solution Type, 2017 to 2030
5.3 Enterprise
5.4 Site
Chapter 6. Clinical Trials Management System (CTMS) Market : Segment Analysis, by Delivery Mode, 2017-2030 (USD Million)
6.1 Delivery Mode Market Share Analysis, 2021 & 2030
6.2 Clinical Trials Management System (CTMS) market, by Delivery Mode, 2017 to 2030
6.3 Web & Cloud-based
6.4 On-premise
Chapter 7. Clinical Trials Management System (CTMS) Market : Segment Analysis, by Component, 2017-2030 (USD Million)
7.1 Component Market Share Analysis, 2021 & 2030
7.2 Clinical Trials Management System (CTMS) Market, by Component, 2017 to 2030
7.3 Software
7.4 Services
Chapter 8. Clinical Trials Management System (CTMS) Market : Segment Analysis, by End User, 2017-2030 (USD Million)
8.1 End User Market Share Analysis, 2021 & 2030
8.2 Clinical Trials Management System (CTMS) Market, by End User, 2017 to 2030
8.3 Pharmaceutical and Biotechnology Firms
8.3.1 Pharmaceutical and Biotechnology Firms market, 2017-2030 (USD Million)
8.4 Medical Device Firms
8.5 Others
Chapter 9. Clinical Trials Management System (CTMS) Market : Regional Market Analysis 2017-2030 (USD Million)
9.1 Definition & Scope
9.2 Regional Movement Analysis, 2021 & 2030
9.3 Regional Market Snapshot
Chapter 10. Clinical Trials Management System (CTMS) Market-Competitive Analysis
10.1 Market Participant Categorization
10.1.1. Company Market Position Analysis
10.1.2. Synergy Analysis: Major Deals & Strategic Alliances
10.1.3. Market Leaders
10.1.4. Innovators
10.2. List of Key Companies
Chapter 11. Clinical Trials Management System (CTMS) Market-Company Profiles
11.1 Company overview
11.2 Financial Performance
11.3 Product benchmarking
11.4 Strategic initiatives
- Iqvia Inc.
- Medidata Solutions, Inc.
- Oracle
- Datatrak International, Inc.
- Clario
- Simpletrials
- Calyx
- Realtime
- Labcorp
- Veeva Systems
- Wipro Limited
- Pharmaseal
For more information about this report visit https://www.researchandmarkets.com/r/4acwg5
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