05-15-2018 12:09 PM CET - Media & Telecommunications

Clinical Trial Management System Market 2018 Competitive Landscape Analysis with Trends, Application, Growth, Technology, Analysis and Forecast to 2025

Press release from: Data Bridge Market Research
Data Bridge Market Research
Data Bridge Market Research

High cost involved with launch of new drugs along with extended timelines has fostered the need to improve operational efficiency of clinical trials. Increasing reliance of industry sponsors on advanced IT-based clinical trial management solutions to improve managerial control in clinical trials will boost CTMS market growth. Outsourcing of clinical trials to contract research organizations offering quality of services will spur market size. However, prohibitive cost of clinical trial management systems will hinder industry growth over the forecast timeline.

The Global Clinical Trial Management System Market is expected to reach USD 1508.7 Million by 2025 from USD 588 Million in 2017 growing at a CAGR of 12.50% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2017, the base year of calculation is 2017 and the forecast period is 2018 to 2025

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Some of the major players operating in the global clinical trial management system market are Bioclinica, Oracle Corporation, eClinForce Inc., Medidata Solutions, DATATRAK International, Inc, Guger Technologies Inc, PARAXEL International Corporation, MedNet Solutions, Inc. ChemWare Inc., iWEb Technologies, Data MATRIX, Jade Global Solutions, Integrated Clinical Solutions, MAJARO InfoSystems, BioOptronics, Inc,  Forte Research Systems and ICON plc, Merge healthcare incorporated, Bio-Optronics, DSG INC, eClinForce, ArisGlobal, ERT Clinical  and among others.

Clinical trial management system (CTMS) involves management of clinical trial records in clinical research. CTMS starts from planning of research proposal to preparation, conduct of trial, report generation, CTMS maintenance and managing the clinical trial data. CTMS reduces the communication period for a multi-centered clinical trial. The main advantage of CTMS system is that it sponsors or client can access their trial progress from anywhere. CTMS provides the valuable information like Clinical trial program/ project management, trial and site planning site and subject management, study management, investigator management, study financials and investigator grants and payments management lastly clinical trial performance and reporting. In 2004, International Committee for Medical Journal Editors (ICMJE) made it mandatory to fulfill all publications required for study for the clinical trial registration.  As per of outsourcing Pharma 2014, out of the 111 clinical studies listed under U.S. FDA, more than 70 were handled by CROs. Since 2006, Massey Cancer Center by utilizing the CTMS Platform securely accesses the clinical trial progress via internet. In August 2016, Bioclinica announced the complete acquired sition of Cinven. Through this agreement Bioclinica expand its services and products    and strategies in the CTMS.  In September 2017, Pamplona Capital Management, LLP completed acquisition of PAREXEL. This agreement allowed better growth and deep healthcare expertise and great achievement in healthcare sector.

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The global clinical trial management system market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions and others to increase their footprints in this market. The report includes market shares of clinical trial management system market for global, Europe, North America, Asia Pacific and South America.

Major Market Drivers and Restraints:
- Growth of healthcare IT sector.
- Increase in the research and development expenditure in the life sciences
- Growth in clinical research organization
- High prevalence of chronic diseases
- Increase adoption of CTMS solutions
- Advancement in technology and software for clinical trial management system
- Synchronization of hospital information system (HIS) with CTMS
Strict regulations for clinical trial protocols

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Contact Info:
Name: Data Bridge Market Research
Email: sopan.gedam@databridgemarketresearch.com
Phone: +1 888 387 2818

Data Bridge set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.

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