New York City, New York, Oct 27, 2015: Persistence Market Research (PMR) has announced the release of a market study based on the global clinical trial management system market. According to this report, titled “Global Market Study on Clinical Trial Management System: Asia to Witness Highest Growth by 2019”, the market stood at US$844 million in 2013. Aided by the rising investment for research and development in the field of pharmaceuticals, the global clinical trial management system market has been estimated to develop at a CAGR of 14% and reach US$1,845.50 million by the end of the forecast period.

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Reports about undesirable drug reactions on patients have forced drug manufacturers across the world to perform clinical trials before launching any medicine or therapy in the market. Owing to this, the demand for clinical trial management has increased significantly in recent times. Additionally, development in technology has enabled clinical trial management systems to be assimilated with hospital management systems, rocketing the former’s demand to a great extent.

The report provides a comprehensive analysis of the global market for clinical trial management systems based on the performance of each segment, emphasizing on the current dynamics of the regional clinical trial management system markets.

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The market is spread across North America, Asia, Europe, and the Rest of the World. Maximum clinical trials take place in North America, making it the traditional region for clinical trials. In the U.S., 56,981 clinical trials were conducted in 2011- owing to the presence of a large base of major clinical research and trials centers, clinical research organizations, and pharmaceutical manufacturers - as per the records of the U.S. National Institute of Health (NIH). NIH is main sponsor of clinical trials in the U.S. Other sponsors are various government agencies, voluntary health organizations, and academic groups. The increasing investments in research and development in the area of life sciences, pharmaceuticals, and clinical research are stimulating the clinical trial management system market in North America.

The European clinical trial management system market is registering healthy growth on account of ample opportunities present in the economies of Central and Eastern Europe for life science companies engaged in clinical development. The support and funding from the government in the area of biomedical sciences has helped Germany emerge as a preferred location for clinical trials.

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According to Oracle Corp., a leading clinical trial management system enterprise, clinical trials in Western Europe have reported a percentage decline from 25% to 19%, whereas Eastern Europe has witnessed an increment from 10% to 13% between 2006 and 2010.

At present, the clinical trial management system market in Asia is posting the fastest growth. The modification in the regulatory laws and the patent expiration laws in various Asian economies such as China, Japan, and India is adding considerably to the expansion of this industry in Asia. The lower cost of clinical trials compared to North America or Europe is also considered as one of the major driving factors for the Asia clinical trial management system market, states the report.

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