Clinical Trial Management System (CTMS) - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Clinical Trial Management System (CTMS) Market is accounted for $801.00 million in 2020 and is expected to reach $2,755.49 million by 2028 growing at a CAGR of 16.7% during the forecast period. The rising number of clinical trials, the availability of advanced CTMS solutions and research partnerships between pharma-biopharma companies & CROs are the major factors driving the market growth. However, a budget constraint is hampering the growth of the market.
A clinical trial management system (CTMS) is a kind of software system that is used to organize and manage trials in clinical research activities. The system manages planning and executing and reporting functions, together with contact information of participant. Additionally, it is useful in milestones of trials and tracking deadlines. CTMS are firstly used in, pharmaceutical and biotech organizations, clinical research companies, medical devices industry.
Based on the component, the software segment is going to have lucrative growth during the forecast period due to the advancements in CTMS software to ensure effective management of clinical trials data generated by biotech and pharmaceutical companies will accelerate new product launch thereby escalating industry growth.
By geography, Asia Pacific is going to have high growth during the forecast period. Increasing number of clinical trials being conducted in the region will favor industry growth. Outsourcing of clinical trials in countries such as China and India due to presence of diverse patient pool and low-operating cost of conducting clinical trials in these countries will further accelerate business growth.
Some of the key players profiled in the Clinical Trial Management System (CTMS) Market include Advarra Technology Solutions, Arisglobal, Bioclinica, Bio-Optronics, Datastat, Datatrak International, DSG, Inc., Dzs Clinical Services (Wdb Holdings Co. Ltd) , Merge Healthcare, IBM, Mastercontrol, Medidata Solutions, Mednet Solutions , Oracle, and Veeva Systems
Delivery Modes Covered:
• Web-based (On-demand)
• Licensed Enterprise (On-premises)
• Cloud-Based (Software as a Service (SaaS))
• Enterprise-Wide CTMS
• On-Site CTMS
• Data Management Solutions
• Document Management Solutions
• Patient Management Solutions
• Site Management Solutions
End Users Covered:
• Academic Research Centers
• Body Contouring Devices
• Cancer Centers
• Contract Research Organizations (CROs)
• Healthcare Providers
• Large Pharma-Biotech Companies
• Medical Device Manufacturers
• Research Hospitals
• Small & Mid-Sized Pharma-Biotech Companies
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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• Competitive Benchmarking
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