According to the latest report published by Variant Market Research, the global clinical trial management system market size is projected to reach $3,407 Million by 2024 from $1,221 Million in 2016. In this report, clinical trial management system market forecast says that the global market is growing at 13.7% CAGR from 2017 to 2025.
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Growing product launches to drive the global market
The global clinical trial management system market trend includes growing number of clinical trials, growing R&D investments, growing product launches, and requirement for accurate data. Though, lack of skilled professionals & budget limitations may hinder the clinical trial management system market growth. Moreover, untapped markets would provide an opportunity for players of clinical trial management system market Industry.
The global clinical trial management system market is classified into component, mode of delivery, type, end-user, and geography. Component segment includes software and services. Further, the market is classified on basis of mode of delivery into licensed enterprise (on-premise), web based (on-demand), and cloud based (SaaS) segments. Type includes enterprise clinical trial management system & site clinical trial management system. Further, end-user includes medical device companies, pharmaceutical and biopharmaceutical companies, contract research organizations, & others. North America (U.S., Mexico, and Canada), Europe (France, Italy, Germany, UK, and Rest of Europe), Asia-Pacific (Japan, China, South Korea, India, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in this market.
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Software, by component dominated the global market in 2017
Software held for the highest market share in 2017, and expected to continue its dominance over the forecast period, 2017– 2025, owing to high usage and high adoption.
Cloud based (SaaS), by mode of delivery dominated the global market in 2017
Cloud based (SaaS) held for the highest market share in 2017, and expected to continue its dominance over the forecast period, 2017– 2025. It permits for high customization as per requirement, quicker turnaround time, as well as low costs, which is the driving factor for the growth of segment.
Pharmaceutical and biopharmaceutical sector, by end-user dominated the global market in 2017
Pharmaceutical and biopharmaceutical sector held for the highest market share in 2017, and expected to continue its dominance over the forecast period, 2017– 2025. High adoption of CTMS software through drug clinical trials by many pharmaceutical & biopharmaceutical companies is the driving factor for the growth of segment.
Asia-Pacific is estimated to witness fastest CAGR from 2017 to 2025
Asia-Pacific is predicted to grow at a fastest CAGR of over the forecast period 2017 to 2025. The growth is attributed to the better infrastructure, growing outsourcing of clinical trials, & high need for digitalization.
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Key players are offering innovative products and services to increase their clinical trial management system market share. Major players of the market are Guger Technologies Inc., Oracle Corporation, ICON plc, Medidata Solutions Inc, Mednet Solutions, Parexel International Corporation, Bioclinica, DATATRAK International, Inc., BioOptronics, Inc., and Forte Research Systems, among others.
Scope of Clinical Trial Management System Market
• Enterprise Clinical Trial Management System
• Site Clinical Trial Management System
Mode of delivery Segments
• Web Based (On-Demand)
• Licensed Enterprise (On-Premise)
• Cloud Based (SaaS)
• Pharmaceutical and Biopharmaceutical Companies
• Contract Research Organizations
• Medical Device Companies
• Other End-Users
• North America
o South Korea
o South America
o Middle East
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients’ objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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