Press release
Clinical Trial Management System (CTMS) Market Size and Forecast to Grow at a CAGR of 12.98% By 2021
Clinical trials are defined as research studies undertaken to successfully test a drug or a medical device before launching the product in the market. These studies are pivotal as the data generated in these studies forms the basis for the approval process of a drug or a medical device. Typically, these clinical trials are divided into five phases with each phase as critical as any other. It takes approximately 12 years to successfully complete a clinical trial, and the typical cost estimate of a clinical trial is $800 million to $1.2 billion with a success rate of 12% that the drug will get approved in the market or not.
Technavios analysts forecast the global clinical trial management system (CTMS) market to grow at a CAGR of 12.98% during the period 2017-2021 .
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Covered in this report
The report covers the present scenario and the growth prospects of the global clinical trial management system (CTMS) market for 2017-2021 . To calculate the market size, the report considers the revenue generated from the retail sales of CTMS components that comprise software and services.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Clinical Trial Management System (CTMS) Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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Key vendors
Bioclinica
Medidata
Oracle
PAREXEL
Other prominent vendors
ArisGlobal
Bio-Optronics
DATATRAK
DSG
ERT Clinical
FORTE
MedNet Solutions
Merge
Trial By Fire Solutions
Veeva Systems
Market driver
Increase in R&D expenditure
For a full, detailed list, view our report
Market challenge
Rising cost of clinical trials
For a full, detailed list, view our report
Market trend
Increasing outsourcing of clinical trial process
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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