Summary

The clinical trials management system market is expected to grow at a strong CAGR of around 14% during the forecast period owing to increasing demand for personalized medicine, increasing focus on patient-centric trials, and growing demand for biologics. Moreover, the market is growing due to the increasing number of clinical trials being conducted worldwide, particularly in the fields of pharmaceuticals, biotechnology, and medical devices. CTMS solutions are essential tools for the efficient management of clinical trials, and their increasing adoption is expected to fuel the growth of the market. Moreover, with the growing prevalence of chronic diseases worldwide the demand for clinical trials to test new treatments and therapies is increasing, thereby driving the demand for the CTMS market. For instance, according to the WHO International Clinical Trial Registry Platform (ICTRP), the United States had the most clinical trials between 1999 and 2021, with 157,618, followed by China (with 80,333 trials) and Japan (with 57,754). Additionally, the increasing complexity of clinical trials is driving the demand for CTMS solutions, which can help manage multiple trials across different sites and provide real-time data access and analysis.

Some of the major players operating in the market include IQVIA Inc.; Dassault Systèmes; Oracle; Datatrak Int.; Clario; SimpleTrials; Calyx; RealTime Software Solutions, LLC; Laboratory Corporation of America® Holdings; and PHARMASEAL. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst delivery mode, cloud-based category is expected to witness significant growth during the forecast period”
Based on delivery mode, the market is segmented into web-based CTMS, on-premises, and cloud-based. Amongst these, the cloud-based category is expected to witness significant growth during the forecast period owing to its cost-effectiveness, scalability, and flexibility which are driving their adoption by its end-users. Also, the growing demand for efficient trial management, the rising healthcare costs for chronic diseases, and advancements in technology boost the growth of the market. For instance, as per the CDC, patients with mental health issues and chronic diseases account for 90% of the 3.8 trillion USD in annual healthcare costs.

“Amongst end-users, the clinical research organizations (CROs) captured the majority share of the clinical trials management system market in 2021”
By end-users, the market is bifurcated into pharmaceutical & biopharmaceutical companies, clinical research organization, and healthcare providers. Among these, clinical research organizations (CROs) captured the majority share of the clinical trials management system market in 2021. The increasing demand for outsourcing clinical trials to CROs is expected to drive the growth of the CTMS market. CROs are expected to witness significant growth in the coming years due to their expertise in clinical trial management, increasing complexity of clinical trials, and cost-effectiveness.

“APAC is expected to grow at a steady rate of the market in 2021”
The Asia-Pacific (APAC) region is expected to witness significant growth in the CTMS market due to several factors. Such as the large and growing population, with the increasing incidence of chronic diseases, which is driving the demand for clinical trials. The growing investments in healthcare infrastructure and the increasing focus on improving the quality of healthcare are also contributing to the growth of the CTMS market in the region. Moreover, the rising adoption of CTMS solutions by pharmaceutical and biopharmaceutical companies, CROs, and medical device companies is another factor driving the growth of the market in the APAC region.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global Clinical Trials Management System Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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