The Clinical Trial Management Systems Market is expected to exhibit robust growth over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The report provides a comprehensive overview of all the major factors enabling and restricting growth of the clinical trial management systems market, enabling a clear overview for players operating in the global market.

Global Clinical Trial Management System Market Share is witnessing a rapid increase in its revenues. This growth majorly attributes to the proliferating numbers of pharmaceutical and biotechnology companies. Rise in the global population is prompting the demand for effective & quality healthcare are driving the clinical trial management industry, increasing the number of clinical trials required for drug discoveries.

The leading drivers and restraints affecting the global clinical trial management systems market are profiled in detail in the report, along with an analysis of the background economic factors working to enable a sturdy impact on the market. The leading players operating in the global clinical trial management systems market are also profiled in the report, giving players a comprehensive picture of the global clinical trial management systems market’s competitive landscape.

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Besides, substantial R&D investments made in the increasing numbers of contract manufacturing organizations (CMOs) are accelerating the demand for clinical trial management system technology. According to Market Research Future (MRFR), the global clinical trial management system market is projected to create a valuation of USD 1,631.3 MN by 2025, registering 12.0% CAGR over the forecast period (2019-2025).

Competitive Analysis

Forte Research Systems Inc., Oracle, iWeb Technologies, e-ClinForce, Inc., Medidata Solutions, PAREXEL, Bio-Optronics, Bioclinica, and IBM are 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.

Segmentation

The global clinical trial management system market has been segmented on the basis of type, delivery model, component, end user, and region.

On the basis of type, the clinical trial management system market has been segmented into enterprise clinical trial management systems and site clinical trial management systems.
On the basis of delivery model, the clinical trial management system market has been segmented into web-based (hosted CTMS), licensed enterprise, and cloud-based CTMS.
On the basis of component, the clinical trial management system market has been classified as software and services.
On the basis of end user, the market is segmented into medical device manufacturers, pharmaceutical and biopharmaceutical companies, contract research organizations, and others.
Latest Developments in the Global Clinical Trial Management System Market:

In July 2019, Objective GI, 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 Objective GI 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, Sy mBio, the New York-based Contract Research Organization (CRO), has collaborated with Omnicom, 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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Regional Analysis:

North America is likely to dominate the global clinical trial management system market over the forecast period due to the growing number of pharmaceutical industry giants in the region and the growing number of clinical trials being conducted in the region. The rapid growth of the healthcare sector in the region has made it a fertile ground for clinical studies, leading to a steady rise in the demand for clinical trial management solutions in the region. The growing prevalence of chronic diseases in North America is also likely to be a major driver for the clinical trial management system market in the region over the forecast period.

Europe is likely to account for the second largest market share due to its strong healthcare sector and the growing number of clinical trials in the region.