Impact Of Covid 19 On Clinical Trial Management Systems (CTMS) Market 2020 Industry Challenges Business Overview And Forecast Research Study 2026
Industry Trends
Due to the large number of companies involved in outsourcing clinical studies, the service segment is expected to witness substantial CAGR of XX per cent by 2025 thus generating the need for services. The wide range of services provided by CROs and the increase in the adoption of clinical trial management solutions should foster the growth of the business.
The clinical trial management system market was led by the software group with the highest revenue share of XX per cent in 2018. Advances in CTMS tools to ensure effective management of data generated by biotech and pharmaceutical companies on clinical trials should promote the introduction of new products, thus increasing the growth of the industry. Web-based clinical trial management systems held the largest revenue share of 60.5 per cent in 2018, with similar growth expected over the forecast period. The benefits of web-based CTMS systems including user-friendliness, high functional flexibility leading to cost-effectiveness and increased efficiency of clinical trials will spur the segment size. Cloud-based clinical trial management systems are estimated to witness XX% CAGR over the coming years owing to advantages offered by such as easy accessibility, real-time monitoring of clinical trial data and reduced costs.
At 497.3 million sales in 2018, North America's clinical trial management system industry dominated the global market, and is expected to see significant growth in the foreseeable future. Increasing number of clinical trials coupled with increasing funding from NIH for clinical research will drive growth in business. Companies ' focus on R&D activities will increase demand for a clinical trial management system, thereby increasing regional growth.
For More Details Contact Us@ [email protected]
Clinical trial management system market in Asia Pacific is estimated to witness the fastest XX percent CAGR over the forecast period. Increasing numbers of clinical trials being carried out in the region will favor the growth of the industry. Outsourcing of clinical trials in countries like China and India due to the presence of a diverse pool of patients and low operating costs of conducting clinical trials in those countries will further accelerate business growth.
Global Clinical trials management system in healthcare market revenue & forecast, (US$ Million), 2015 – 2027:
Competitive Landscape
Some of the key industry players operational in the clinical trial management system market includes Bio Clinica, Medidata Solutions, DataTrak Internationals, Bio-Optronics, Merge Healthcare (IBM Watson), DSG, Forte Research Systems, MedNet Solutions, Omnicomm Systems, Oracle, MasterControl, Parexel Informatics and Veeva Systems. Industry players implement strategies including partnerships, mergers and acquisitions that assist them in maintaining their market position. For instance, in July 2016, Bio Clinica announced acquisition of Compass Research, a U.S. based clinical research network that has direct access to specific population with neurodegenerative disorder and other disorders. This strategy rendered company with sustainable profits and strengthened its market position.
Key Players: Bio Clinica Inc., Bio-Optronics, Inc., DataTrak Internationals, Inc., DSG Inc., Forte Research Systems Inc., MasterControl Inc., Medidata Solutions, Inc., MedNet Solutions, Inc., Merge healthcare (IBM Watson), Omnicomm Systems Inc., Oracle, Parexel Informatics, Inc., Veeva Systems Inc.
Clinical Trial Management System (CTMS) in Healthcare Market:
By Component type: Software, Hardware, Services
By Delivery mode: Web, Cloud, On-Premise
By Product: Enterprise Based, Site Based, Services
By End-user: Pharmaceutical & Biopharmaceutical Companies, Clinical Research Organizations, Healthcare Providers
By Geography:
North America: (U.S, Canada, Mexico, Rest of North America)
Europe: (France, The UK, Spain, Germany, Italy)
Nordic Countries: (Denmark, Finland, Iceland, Sweden, Norway)
Benelux Union: (Belgium, The Netherlands, Luxembourg, Rest of Europe)
Asia Pacific:(China, Japan, India, New Zealand, Australia, South Korea)
Southeast Asia: (Indonesia, Thailand, Singapore)
Rest of Southeast Asia
Middle East and Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of Middle East and Africa)
Latin America: (Brazil, Argentina, Rest of Latina America)
For TOC and Reports Related Enquiry Mail Us@ [email protected]
About Us:
GQ Market Reports is a company that is creating cutting edge, futuristic and informative reports in many different areas. Some of the most common areas where we generate reports are industry reports, country reports, company reports and everything in between. At Si market research, we give our clients the best reports that can be made in the market. Our reports are not only about market statistics, but they also contain a lot of information about new and niche company profiles.
Contact Details:
+91 92843 95731