New York, USA, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Clinical Trial Management System Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Clinical Trial Management System Market Information by Type, Delivery Model, Component, End-User, and Region - Forecast till 2030”, the clinical trial management system market was valued at USD 1.61 Billion in 2021 and can touch USD 3.72 Billion by 2030. The market size shall grow at a rate of 13.4% between 2022 and 2030.
Clinical Trial Management System Market Scope
A clinical trial management system is a critical set of tools that helps in effectively planning, managing, and tracking the clinical study portfolios. It is a comprehensive, specialized management application that guides the user right from the startup through monitoring and enrollment to the end result.
CTMS offers transparency of all the essential components of the study management, including document collection, screening & enrollment, monitoring reports, site visits, issue management, action items, and more.
Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/2054
Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 3.72 billion |
| CAGR | 13.4% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Component, Delivery Model and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising complexity in data management |
| Availability of advanced clinical trial management system solutions |
Clinical Trial Management System Market Competitive Landscape:
The important vendors in the clinical trial management system industry are
- Forte Research Systems Inc.
- eClinForce Inc.
- Oracle
- Medidata Solutions
- iWeb Technologies
- PAREXEL
- Bioclinica
- Bio-Optronics
- IBM
- Datatrak
- Veeva Systems
- DSG
- Mastercontrol
- ERT
- Mednet Solutions
- Arisglobal
- DZS Software Solutions
Clinical Trial Management System Market USP Covered:
Market Drivers:
The clinical trial management system market has become extremely lucrative owing to the fast spread of SARS-CoV-2 and the resultant increase in the number of deaths. The COVID-19 outbreak has put immense pressure on the healthcare industry, with organizations scrambling to supply vaccines and therapeutics in a timely manner. The rapid surge in the research activities has boosted COVID-19 clinical trials across the globe, which in turn favors the global market.
The rising globalization of various clinical trials, rising demand for CROs for clinical trials, and technological innovations can further enhance the demand for these systems. Although the lockdown has been imposed across countries, the pandemic is still far from being controlled and is spreading at an alarming pace. Therefore, the best way to successfully battle the novel coronavirus is by carrying out clinical trials, which ultimately boosts the need for clinical trial management systems.
The COVID-19 impact on businesses, lives, communities, and industries has been brutal, with the lockdown affecting the worldwide economy to a great extent. Since social distancing is absolutely imperative to prevent SARS-CoV-2 transmission, it has become tough to conduct clinical trials. As a result, various regulatory institutes like China’s National Medical Products Administration, FDA/Food and Drug Administration (U.S), NIH/National Institutes of Health (NIH), EMA/European Medicines Agency have come together with many other nations to issue guidelines pertaining to clinical trials, and are also supporting the use of virtual services. These kinds of efforts are expected to benefit the worldwide market in subsequent years.
Market Restraints:
The high service and maintenance costs of clinical trial management systems can bring down their demand in the market, thereby acting as a major restraint. Industry experts say that the maintenance cost of a variety of IT systems is much higher than that of the software.
The escalating cases of clinical trial failure along with the lengthy approval time can also slow down the demand for the clinical trial management system industry in the years to come.
Browse In-depth Market Research Report (90 Pages) on Clinical Trial Management System: https://www.marketresearchfuture.com/reports/clinical-trial-management-system-market-2054
Clinical Trial Management System Market COVID 19 Analysis
The COVID-19 outbreak as well as the subsequent lockdown has had a brutal effect on the healthcare industry, considering the shutdown of production units and the travel restrictions. The immense pressure on the healthcare sector in view of the expanding patient base suffering from SARS-CoV-2 should be favorable for the CTMS industry. The mounting number of patients and the rising government spending on research and development activities further foster the demand for laboratory information systems.
Also, with the lockdown being lifted up across various nations and the prime focus on finding a vaccine for novel coronavirus, CTMS developers are now seeing improvements in their business. This will translate into a quicker recovery for the worldwide market in the following years.
Clinical Trial Management System Market Segmentation
By Type
The types of clinical trial management systems in the market are enterprise CTMS as well as on-site CTMS.
The enterprise-wide type of clinical trial management system is the leading segment in the industry, on account of its widespread use by most end users in view of its many benefits.
By Delivery Model
The delivery models covered are licensed enterprise, cloud-based CTMS (SaaS), and web-based (hosted CTMS).
The web-based segment has secured the leading spot in the market, as this type of delivery model offers various advantages including improved productivity, time as well as cost-efficiency, and easy access.
Buy Now: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=2054
By Component
The component-based segments in the market are service, hardware, and software.
By End-User
The end users of clinical trial management systems include contract research organizations, medical device manufacturers, pharmaceutical and biopharmaceutical companies, and others.
Clinical Trial Management System Market Regional Insights
The Americas is currently in the lead and can reach greater heights in the coming years, thanks to the vast number of eminent pharmaceutical firms, massive patient pool, and the rising number of new product innovations. A number of CROs in the United States are coming together to accelerate the COVID-19 clinical trials and are offering platforms to conduct more research activities. This should elevate the demand for clinical trial management systems to a large extent.
The European market for clinical trial management systems stands at the second position, backed by the considerable spending on research and development/R&D in the pharmaceutical sector and the growing cases of diseases. Europe has been known to come up with strict regulations for clinical trials, with the aim to strongly motivate scientific research. This can be significantly favorable for the regional market over the next few years.
Share your Queries @ https://www.marketresearchfuture.com/enquiry/2054
The APAC market is racing ahead at the fastest speed, as the cases of new diseases are increasing, and the focus on creating new drugs for rare conditions has become the major focus in the healthcare industry. The strong support from the government and the consequent rise in outsourcing hubs has fostered the growth of the clinical trial market in APAC. India, Australia, and China are the biggest growth contributors and offer the low-cost option to conduct clinical trials. Following the COVID-19 outbreak in 2020 and the increasing cases, the demand for clinical trials has shot up substantially in the region. This has been extremely favorable for the clinical trial management system industry in the region.
With the lowest share, the growth of the MEA market is deterred by the poor economy, scarcity of technically advanced facilities, low healthcare knowledge, and the lack of clinical trial centers in Africa. The market growth in MEA is relatively better than in Africa, on account of the improving healthcare industry and the increasing spending on healthcare in Kuwait, Qatar, and Saudi Arabia.
Discover more research Reports on Healthcare Industry, by Market Research Future:
Infertility Market Information; By Sex (Males, Females And Unexplained), By Diagnosis (Men Diagnostic Tests (Semen Analysis, Genetic Testing, Testicular Biopsy, And Other) And Women Diagnostic Tests (Hysteroscopy, Laparoscopy, Ovulation Testing, Hysterosalpingography And Others)) And General Diagnostic Tests (Genetic Testing, Hormone Testing, Microscopic Analysis, Imaging, And Others), By Drugs (Clomiphene Citrate, Letrozole, Serophene, Hormone Treatment And Others), By Techniques, Forecast to 2027
Epigenetics Market Size, Trends and Industry Analysis by Instruments (NGS, spectrometer, PCR, software solutions and others), by Consumables (kit, enzymes, reagent, and others), by Application (oncology, developmental biology, drug discovery, cardiology, immunology and others), by Technology (methylation, histone modification and others), by End Users (academia and research, pharmaceutical and biotechnology industry and others) - Forecast to 2027
Optical Imaging Market Trends, Growth and Insights By Products (Imaging Systems), by Techniques (Photo Acoustic Imaging), by Therapeutic Area (Neurology and Oncology), by Application (Pathological Imaging), And End-Users (Hospitals & Clinics) – Global Forecast Till 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
