According to the latest report by IMARC Group, titled “Clinical Trial Management Systems Market: Global Industry Trends, Share, Size, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global clinical trial management systems market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market.
Clinical Trial Management Systems Market Overview :
The global clinical trial management systems market reached a value of US$ 927.4 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,840.40 Million by 2027 exhibiting a CAGR of 11.50% during 2022-2027.
A clinical trial management system (CTMS) represents a suite of tools that are utilized for effectively planning, tracking, and managing clinical trials in medical research studies. It primarily involves start-up timelines, reporting protocol information and accrual data, financial management, standardized billing processes and invoicing, subject visit tracking, etc. Moreover, CTMS standardizes clinical and operational data via advanced visualization and analytical techniques. Consequently, clinical trial management systems are extensively used by medical researchers to analyze, manage, and facilitate the transfer of patient data.
Clinical Trial Management Systems Market Trends and Drivers:
The escalating demand for personalized treatments and regenerative medicines is primarily driving the clinical trial management systems market. In line with this, the increasing usage of CTMS as a centralized and web-based enterprise resource to support complex clinical research studies in real-time is further catalyzing the market growth.
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Additionally, the rising prevalence of new infectious and chronic diseases is propelling the adoption of advanced diagnostics and drug discovery tools, which, in turn, is acting as another significant growth-inducing factor.
Besides this, the inflating need for cloud-based CTMS to conduct trials of medical products, monitor the administration of vaccines, manage patient data, etc., on account of the sudden outbreak of the COVID-19 pandemic, is also augmenting the global market.
Furthermore, numerous technological advancements, including automated eClinical solutions for improving productivity, study reconciliation, data quality, etc., are anticipated to fuel the clinical trial management systems market over the forecasted period.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Clinical Trial Management Systems Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Advarra Inc., ArisGlobal LLC, BioClinica Inc., DataTrak International Inc., DZS Clinical Services Inc. (WDB Holdings Co. Ltd.), International Business Machines Corporation, Medidata Solutions Inc. (Dassault Systèmes SE), MedNet Solutions Inc., Oracle Corporation, Parexel International Corporation, RealTime Software Solutions LLC and Veeva Systems Inc.
The report has segmented the market on the basis of region, component, deployment mode and end user.
Breakup by Component:
Breakup by Deployment Mode:
Market Breakup by End User:
- Contract Research Organization
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.