The global Clinical Trial Management System (CTMS) market is expected to reach USD 2.2 billion by 2024, according to a new report by Grand View Research, Inc.
Rising research activities and increasing complexity in data management for multiple verticals such as pharmaceutical and biotechnology are anticipated to present the clinical trial management system market with lucrative opportunities over the forecast period. These systems are capable for speeding up the research activity along with cost containment which is crucial for pharmaceutical companies that invest a lot on R&D innovation.
The present business scenario is witnessing rapid changes in the marketplace and consumer preferences are pushing the players to innovate and generate better performing products at a faster rate, in order to sustain the competition. Owing to the aforementioned reason, CTMS are designed in way that requires minimal documentation by clinical trial professionals avoids unnecessary & repeat testing and facilitates easy payment management. This at the end makes the whole process faster and reduces the time to market.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/clinical-trial-management-system-ctms-market
Further key findings from the study suggest:
·
Enterprise based CTMS segment is expected to
hold maximum shares and witness the fastest growth over the forecast period.
Enterprise system dominated owing to their convenience and multiple user
access. For instance, the enterprise CTMS currently being used in the
University of Minnesota which offers implementation of a variety of functions
via its core module.
·
Cloud-based delivery mode is expected to witness
the fastest growth and contribute over 15.0% share by 2024. Increasing
popularity leading to higher adoption by end-users for cloud-based CTMS is the
vital impact rendering driver.
·
Pharmaceutical & biotechnology firms held
about 40.0% share in 2025 and is expected to contribute highest revenue over
the forecast period. Extensive pipeline and rising affinity towards
collaborative research over the next decade is predicted to boost market growth.
·
Asia Pacific is projected to drive the market
growth and provide numerous opportunities to industry players. The efforts by
government officials and research industry towards improving infrastructure,
rising number of research studies and digitalization coupled with
centralization of the management systems are promoting growth of CTMS market
over the forecast period.
·
The market is highly fragmented with numerous
budding small scale companies. Few of the participants include; PARAXEL
International Corporation, DATATRAK, Guger Technologies, Forte Research Systems
Inc., MedNet Solutions, Bioclinica, Medidata Solutions Inc., and Oracle
Corporation.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/healthcare-it
Grand View Research has segmented the global CTMS market on the basis of
type, delivery mode, component, end-users and region.By Type (USD Million), 2013 - 2024
·
Enterprise
·
Site
By Delivery Mode (USD Million), 2013 - 2024
·
Web-Based
·
Cloud-Based
·
On-Premise
By Component (USD Million), 2013 - 2024
·
Software
·
Service
By End-users (USD Million), 2013 - 2024
·
Pharmaceutical & Biotechnology Firms
·
Clinical Research Organizations (CROs)
·
Medical Device Firms
·
Others
By Region (USD Million), 2013 - 2024
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
MEA
o
South Africa
For press release of this report - http://www.grandviewresearch.com/press-release/global-clinical-trial-management-system-ctms-market
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