Press release
Global Clinical Trial Management Market, Trends, Analysis, Opportunities, Share and Forecast – 2019-2025
Clinical Trial Management Market
Increased incidents in chronic disease moreover there are a substantial increase in the effective treatment of medical procedures are stimulating the growth of the clinical trial management market. Moreover, this market is fueled with a substantial investment in large organizations of healthcare. Such investments are stimulating growth due to the significant amount of new technology introduction due to the involvement of R&D. But it becomes essential for the clinical trial management software to be updated frequently due to the latest introduction of technological features. Clinical trial management is a process that could monitor the processes and major milestones in the clinical trials, which could enable the organizations in their productivity.
The global Clinical trial management solutions market is estimated to reach 7.61 billion by 2025, at a CAGR of 12.8% within the forecast period of 2018 to 2025.
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Based on the component, it is divided into hardware, software, and services. Software is the dominant segment in the CTM market due to the availability of advanced software that makes it easier to use and improve the efficiency and productivity of the researchers.
North America dominated the global eClinical solutions market; the market in Asia-Pacific is expected to grow at the highest CAGR. This is primarily attributed to the increasing outsourcing of clinical trials by large pharmaceutical and biopharmaceutical organizations to developing Asia-Pacific countries. Growth in government funding to support clinical research, presence of less stringent regulatory guidelines compared to developed nations in this market, due to which there is a higher presence of a large patient base, and faster patient recruitment for clinical trials in the region which is contributing to the growth of clinical trial management market.
Major players in the clinical trial management market are Oracle Corporation (US), Medidata Solutions, Inc. (US), PAREXEL International Corporation (US), and BioClinica, Inc. (US) among others are the major players operating in the eClinical solutions market. CRF Health (US), DATATRAK International, Inc. (US), ERT (US), eClinical Solutions, Inc. (US), MaxisIT Inc. (US), Bio-Optronics, Inc. (US), Merge Healthcare Incorporated (US), and OmniComm Systems, Inc. (US) are some other key players operating in this market.
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