Clinical Trial Management System Market Synopsis:
Drug research has gained momentum in the past few years. It has led to the need for a standard platform for the management of data and results. This is likely to influence the growth of the global clinical trial management system market greatly over the next couple of years. Market Research Future (MRFR) has revealed in its latest report that the global Clinical Trial Management System Market is poised to mark a moderate CAGR over the review period 2018 to 2023.
Rising prevalence of chronic diseases such as cancer, diabetes, etc. has led to a drastic rise in the demand for effective drugs and treatments. This, in turn, has intensified the need for clinical trials, which is likely to boost the revenue generation of the clinical trial management system market in the years to come. In addition, the developments in the healthcare IT industry is poised to act as a growth catalyst for market players. However, the implementation of stricter regulations, coupled with the rising rate of clinical trials failure is anticipated to undermine market growth in the years to come.
Intended audience
- Pharmaceutical Manufacturers and Suppliers
- Medical Research Laboratories
- Research and Development (R&D) Companies
- Market Research and Consulting Service Providers
- Potential Investors
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Market Segmentation:
The segmental analysis of the clinical trial management system market based on type include site clinical trial management system and enterprise clinical trial management system.
By delivery model, the global clinical trial management system market has been segmented into licensed enterprise, web-based (Hosted CTMS), and cloud-based CTMS.
Software and service are the two components studied in the segmental assessment of clinical trial management system market.
The end-users identified for studying the global clinical trial management system market are pharmaceutical and biopharmaceutical companies, medical device manufacturers, contract research organizations, and others.
Competitive Dashboard:
some of the key vendors contributing to the development of the global clinical trial management system market. These players are poised to devise growth strategies that are expected to lead the growth trajectory of the global market over the next couple of years. Some of the growth strategies opted by the market participants are mergers & acquisitions, partnerships, collaborations, product portfolio development, and technological innovation, among others.
- eClinForce Inc.
- Forte Research Systems Inc.
- Oracle
- iWeb Technologies
- Medidata Solutions
- PAREXEL
- Bio-Optronics
- Bioclinica
- IBM
Regional Analysis:
On the basis of region, the study of the global clinical trial management system market spans across four regions – Asia Pacific, the Middle East & Africa (MEA), Europe, and Americas. Americas is set to dictate the growth pattern of the global market over the next couple of years owing to the presence of robust healthcare IT industry. Europe, at the second spot, is poised to witness increasing investments. This, in turn, is projected to benefit the growth rate of the clinical trial management system market in the region. Asia Pacific is also prognosticated to grow substantially due to the rapid developments being observed in the healthcare sector.
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Latest Developments in the Global Clinical Trial Management System Market:
In July 2019, ObjectiveGI, a gastrointestinal-focused clinical research company, has collaborated with Clinical Research IO has announced the launch of a clinical research electronic source model for direct data capture research capabilities. The ObjectiveGI platform introduced offers clinical research data management to physicians and the patients participating in the concerned research with enhanced quality and efficiency.
In July 2019, Symbio, the New York-based Contract Research Organization (CRO), has collaborated with OmniComm, a data management technology company. The companies have signed a five year agreement for managing and developing clinical study databases.
In July 2019, Veeva Systems, a cloud-computing company focused on pharmaceutical and life sciences, has been selected by a global medical device company, Alcon, for the deployment of Veeva Vault Clinical Data Management System (CDMS) for electronic data capture (EDC).
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