Clinical trial management system market players include Medidata Solutions, Inc. (U.S.), PAREXEL International Corporation (U.S.), BioClinica Inc. (U.S.), Bio-Optronics, Inc. (U.S.), ERT (U.S.), eClinforce (U.S.), Merge Healthcare Incorporated (U.S.), DATATRAK International Inc. (U.S.), Veeva Systems, Inc. (U.S.), DSG Inc. (U.S.), Forte Research Systems, Inc. (U.S.), and MedNet Solutions, Inc. (U.S.), among others.
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Global clinical trial management system market is estimated to grow at a CAGR of 11.5% from 2016 to 2021, to reach USD 920.0 billion by 2021. Adoption of CTMS software is on rise across the globe as these solutions significantly increase efficiency and reduce cost of conducting clinical trials.
Stakeholders of Clinical Trial Management System Market are as follows:
- Healthcare IT service providers
- eClinical solution vendors
- Clinical research organizations
- Pharmaceutical/biopharmaceutical companies
- Research and development (R&D) companies
- Business research and consulting service providers
- Medical research laboratories
- Academic medical centers/universities/hospitals
In Clinical Trial Management System Market the Asia-Pacific region has become an attractive destination for companies offering Clinical Trial Management System.
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High growth in this regional segment can be attributed to a number of factors, such as rising number of clinical trials, presence of a large number of CROs, government initiatives, increase in outsourcing of clinical trials, availability of large & diverse patient population, presence of less stringent regulatory guidelines as compared to developed nations, & cost advantages offered by countries in region.
Factors such as increasing adoption of Clinical Trial Management System Market during clinical trials, growing number of clinical trials, and rising R&D expenditure of pharmaceutical and biopharmaceutical companies are driving the growth of the CTMS market. However, dearth of skilled professionals to operate the advanced CTMS solutions and budget constraints of small- and medium-sized pharmaceutical and biotechnology companies and small CROs are restraining the growth of this market.
Top players are as follows,
- Oracle Corporation (U.S.),
- Medidata Solutions, Inc. (U.S.),
- PAREXEL International Corporation (U.S.)
Clinical Trial Management System Market further segmented into enterprise Clinical Trial Management System Market and site CTMS on basis of type. The enterprise CTMS segment is expected to command the largest share of global CTMS market in 2016, and is expected to grow at the highest CAGR in the forecast period.
This is attributed to the widespread adoption of enterprise CTMS by majority of the end users.
Clinical trial management system market report also offers market sizes & data on growth of various segments in industry. It focuses on emerging & high-growth segments, high-growth regions, & initiatives of governments.
Competitive landscape covers growth strategies adopted by industry players in last three years.
Contract research organizations segment is estimated to witness the highest growth rate in the global Clinical Trial Management System Market, by enduser. Geographically, North America is expected to command largest share of global CTMS market in 2016, followed by Europe.
The large share of the North American market is primarily driven by rising number of ongoing clinical trials, rising government support for conducting clinical trials, and presence of a large customer base.
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