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Clinical Trial Management Systems Market : Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2024
This report studies the Clinical Trial Management Systems market status and outlook of global and major regions, from angles of players, regions, product types and end industries; this report analyzes the top players in global and major regions, and splits the Clinical Trial Management Systems market by product type and applications/end industries.Clinical Trial Management Systems Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at a 13% CAGR to 2024.
Clinical Trial Management Systems (CTMS) market will exceed USD 2.4 billion by 2024; as per a new research report. Growing number of clinical trials and increasing registered clinical studies are primary drivers for clinical trial management systems industry growth. Implementation of stringent regulations in developed regions for enforcement of clinical trial registration have resulted in increasing number of clinical trials fostering demand for clinical trial management systems.
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Introduction of favorable government initiatives to promote clinical trials for the development of novel drugs and therapeutics will serve as high impact rendering driver for CTMS market growth. Outsourcing of clinical trials coupled with rising investments for research and development by pharma and biotech companies will favor industry expansion. However, high cost of clinical trial management systems is expected to impede market growth over the forecast timeline.
Enterprise based solutions will grab higher revenue share during the forecast timeline. These systems emphases on targeted patient population and indication, investigator performance and improved patient safety thus allowing predictable trial execution and reducing cycle cost and time.
Rising usage of advanced clinical trial management solutions by healthcare providers to effectively manage administrative tasks and patient data will foster segmental growth in the future. Data integration and centralized data capabilities offered by CTMS are factors for increasing adoption by healthcare providers.
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U.S. clinical trial management systems market was leading the industry owing to rising clinical trials registration along with increasing funds and grants provided for clinical research in the country. Presence of leading enterprise technology provider such as Oracle offering advanced trial management cloud solutions will further propel market growth.
Germany clinical trial management systems market is anticipated to grow at a robust rate over the coming years. Favorable government support such as grants allotted by Federal Ministry Education and Research (BMBF) for establishment of clinical trial centers in the country will foster industry growth. Outsourcing of research services to provide insights on various aspects such as target validation, lead optimization and clinical trials management are other factors augmenting demand for CTM solutions.
Increasing number of clinical trials to launch safe and effective drugs in the market for treatment of various chronic diseases will drive China CTMS market growth. The sponsors are conducting clinical trials for various therapeutic areas owing to low-operating cost, large patient pool and transparent regulatory scenario in the country. Such factors will favor industry expansion over the coming years.
Some of the prominent market players are Medidata Solutions, Merge Healthcare, Oracle, MedNet Solutions, BioClinica, DATATRAK International, Parexel International and Forte Research Systems. These companies are investing in research activities to provide innovative and advanced solutions to grab higher market share. Leading service providers are focusing on emerging countries to expand their customer-base.
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Related Report:
Asia-Pacific Healthcare Clinical Trial Management Systems Market Report 2018
In this report, the Asia-Pacific Healthcare Clinical Trial Management Systems market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025.
https://www.marketstudyreport.com/reports/asia-pacific-healthcare-clinical-trial-management-systems-market-report-2018/?utm_source=RR-PSR
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