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Clinical Trial Management System Market: 12.6% CAGR to 2022

Clinical Trial Management System Market Report is forecast to reach $1,065.6 million by 2022 from $590.0 million in 2017 at a CAGR of 12.6% during (2017-2022) driven by the increasing partnerships between biopharma companies and CROs, rising number of ongoing clinical trials, rising government funding & grants to support clinical trials, availability of advanced CTMS solutions, and growing customer base for CTMS solutions.
Browse 88 Market Data Tables and 46 Figures spread through 266 Pages and in-depth TOC on “Clinical Trial Management System Market by End User (Pharma & Biopharmaceutical Co., Medical Device Co., CROs), Delivery Mode (Web Hosted, On-premise, Cloud-based), Type (Enterprise, Site), Component (Software, Services) – Global Forecast to 2022” http://www.reportsnreports.com/reports/126572-clinical-trial-management-systems-ctms-market-global-trends-opportunities-challenge-and-forecasts-2011-2016-.html .
The major players operating in the clinical trial management system market include Oracle (US), Medidata Solutions (US), PAREXEL (US), Bioclinica (US), Bio-Optronics (US), and IBM (US).
The APAC clinical trial management system market is expected to grow at the highest CAGR during the forecast period. Geographically, the CTMS market is segmented into North America, Europe, Asia Pacific (APAC), and the rest of the world. The APAC market is expected to register the highest growth rate during the forecast period. Increasing government funding to support clinical trials, the presence of less stringent regulatory guidelines as compared to developed nations, a large patient base, faster rate of patient recruitment for clinical trials than mature nations, low operating costs for conducting clinical trials, shortage of trial volunteers in Europe and North America, and the growing number of pharmaceutical companies and CROs are fueling the growth of the APAC CTMS market.
The cloud-based CTMS segment is expected to grow at the highest rate during the forecast period. On the basis of delivery mode, the global CTMS market is segmented into web-based (on-demand), licensed enterprise (on premise), and cloud-based (SaaS) segments. The cloud-based (SaaS) segment is estimated to witness the highest growth during the forecast period, primarily due to the rising adoption of cloud-based solutions in medical research studies owing to various benefits offered by them such as low cost, high security, privacy, and easy accessibility from any device.
Software segment accounted for the largess’s are of the Clinical Trial Management System Market (CTMS) by component. On the basis of component, the CTMS market is segmented into software and services. The software segment is expected to have the largest share of the market. This is mainly attributed to the fierce competition in the pharmaceutical industry to introduce cost-effective novel drugs in the market, increased adoption of CTMS due to advantages provided by the same among various end users, and increasing number of clinical trials.
The pharmaceutical and biopharmaceutical companies segment is expected to hold the largest share of the clinical trial management system market in 2017. However, the major market restraints are limited awareness among researchers about the advantages of CTMS solutions and budget constraints faced by the emerging countries.
This report studies the CTMS market based on type, delivery mode, component, end user, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.