Press release
Clinical Trial Management System Market - Increasing Research and Development Investment Driving Demand
The global clinical trial management system market was valued at over US$ 1.1 Bn in 2016 and is projected to expand at a cumulative annual growth rate (CAGR) of approximately 13% from 2017 to 2025.Obtain Brochure For Latest Technology Advancements @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=544
The report offers detailed segmentation of the global clinical trial management system market based on mode of delivery, component, type, and end-user. In terms of mode of delivery segment, the on-remise clinical trial management system segment is expected to account for a leading share of the global market in 2016.
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However, the market share of the segment is estimated to fall over the forecast period, owing to time-consuming deployment and high cost. The cloud-based clinical trial management system segment is anticipated to expand at a significant CAGR over the forecast period. This is due to increased productivity, reduction of the costs associated with clinical trials, and continuous innovations in product technologies by major market players.
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Based on component, the software segment is projected to hold a dominant share of global clinical trial management system market in 2016 and is likely to expand at CAGR of more than 13% from 2017 to 2025. Major factors responsible for the dominance of this segment are high sales of software products as compared to hardware, easy customizations, continuous innovations in clinical trial software solutions, and easy deployment of software as compared to hardware.
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