Clinical Trial Management (CTM) Market: Know Technology Exploding in Popularity | Advarra, Inc., Clario, IBM Corporation, Oracle Corporation

According to a new report published by Allied Market Research, titled, "Clinical Trial Management Market by type, delivery mode, component and end user: global opportunity analysis and industry forecast, 2021-2030,"the global clinical trial management market was valued at $969.4 million in 2020, and is estimated to reach $2,810.5 million by 2030, growing at a CAGR of 11.2% from 2021 to 2030.

♦ 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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A Clinical Trial Management System (CTMS) helps in the organization and management of large and complex data obtained from clinical trials. This method aims to follow clinical trials that take place in different parts of the world and the data can always be analyzed through several regressions, simulations and other models. In addition, the use of clinical management systems can improve time management, improve coordination and reduce the communication gap between researchers and their investors.

Major Key Players -

Advarra, Inc
Clario
Deloitte Touche Tohmatsu Limited
IBM Corporation
Medideta Solution Inc.
Mednet Solution Inc.
Oracle Corporation
PAREXEL International Corporation
Thermo Fisher Scientific, Inc.
Veeva System Inc

From the infrastructure, the software segment is the largest segment in the CTM market, due to the availability of advanced software that improves the efficiency and productivity of analysts. The web segment has the largest share in the global CTMS market, due to advantages such as clinical trial quality and productivity, better time management, and ease of access. Industry-based systems are the major contributors to the growth of the market.

♦ 𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭:
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The COVID-19 outbreak is expected to have a negative impact on the growth of the global clinical trial management market. The focus on developing new vaccines and treatments for COVID-19 has overwhelmed upcoming and ongoing clinical trials for other diseases around the world. According to the Journal of International Nepal Epidemiological Association, in 2020 it was reported that the ability to conduct ongoing clinical trials during the COVID-19 pandemic affected 69% of respondents.

The global clinical trial management market is segmented based on type, delivery model, equipment, end user and region. By type, the market is divided into companies and locations. On the basis of the equipment, it is divided into software and services. By end user, it is divided into pharmaceutical and biopharmaceutical companies, clinical research companies and healthcare providers. Regionally, the clinical trial management market is segmented into North America, Europe, Asia-Pacific, and LAMEA.

North America won the largest share of the clinical trial management market in 2020 and is expected to continue to dominate the forecast period, due to the increase in chronic diseases, technological advancements in the management of trials hospitals and increase the capacity to protect development. and medical practices drive the growth of the clinical trial management system industry. However, Asia-Pacific is expected to record the highest CAGR of 13.4% from 2021 to 2030, due to the advancement in R&D activities in the pharmaceutical industry, the rise in chronic diseases, and the potential rise in income.

♦ 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:
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This release was published on openPR.