Global Clinical Trial Management System Market is estimated to reach $3,407 million by 2024

Market-Research

Global Clinical Trial Management System Market is estimated to reach $3,407 million by 2024; growing at a CAGR of 13.7% from 2016 to 2024. Clinical trial management system (CTMS) is a software system majorly used by pharmaceutical and biotechnological sector for managing the clinical trials data that are generated during clinical research. These software aids in maintaining and managing the report, recruitments, data collection & storage, planning, tracking milestones and deadlines. Development of advanced CTMS have led to reduced communication period along with ability to access the data irrespective of time and place. Furthermore, these software systems can also be customized according to the need of customers, which will also aid in reducing time and cost and enable fast process of drug development.

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The global clinical trial management system market is driven by factors including growing number of clinical trials, rising R&D budgets, increasing product launches, and accuracy of data provided. However, lack of skill professionals, limited budgets, and stringent regulations may pose several restrictions for the development of the market. Additionally, market expansion would provide future scope for competitors.

The global clinical trial management system market is categorized into type, component, mode of delivery, end-user, and geography. The market is segmented on basis of type as enterprise clinical trial management system and site clinical trial management system. The clinical trial management system market is bifurcated into component as software and services. On basis of mode of delivery, the market is segmented into licensed enterprise (on-premise), web based (on-demand), and cloud based (SaaS) segments. Furthermore, and end-user market is segmented as contract research organizations, pharmaceutical and biopharmaceutical companies, medical device companies, and others.

Based on geography, global clinical trial management system market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated as U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, Japan, South Korea, and others while RoW is bifurcated into South America, Middle East, and Africa.

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The key market players include Mednet Solutions, Oracle Corporation, Guger Technologies Inc., BioOptronics Inc., Medidata Solutions Inc, Bioclinica, Forte Research Systems, Parexel International Corporation, DATATRAK International, Inc., and ICON plc, among others.

The key takeaways from the report

The report will provide detailed analysis of the Global Clinical Trail Management System Market with respect to major segments such as type, component, mode of delivery, and end-user
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Clinical Trial Management System Market has been included in the report
Profile of the key players in the Global Clinical Trial Management System Market will be provided, which include key financials, product & services, new developments and business strategies

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