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Surge in Clinical Trials Propels Growth in the Clinical Trial Management Systems Market || International Business Machines Corporation, Thermo Fisher Scientific Inc., Oracle Corporation
Clinical Trial Management Systems Market
The Business Research Company's Clinical Trial Management Systems Global Market Report 2023 identifies the rising number of clinical trials is expected to propel the growth of the clinical trial management systems market going forward. Clinical trials are a field of study that investigates novel procedures and therapies and assesses how they affect human health. A clinical trial management system (CTMS) is software used to coordinate every step of the setup, execution, and closing of clinical trials, including organizing, preparing, monitoring, tracking, compliance, and reporting. For instance, in December 2022, according to Trialtrove, a US-based clinical trial database, the number of Phase I-III clinical trials initiated in 2021 was 10,410 compared to 9,819 in 2020, an increase of 6% compared to 2020.
The global clinical trial management systems market is expected to grow from $1.46 billion in 2022 to $1.67 billion in 2023 at a compound annual growth rate (CAGR) of 13.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The clinical trial management systems market is expected to reach $2.74 billion in 2027 at a CAGR of 13.3%.
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Major competitors in the clinical trial management systems market are International Business Machines Corporation, Thermo Fisher Scientific Inc., Oracle Corporation, Parexel International Corporation, Dassault Systèmes SE, Clario.
A key trend in the clinical trial management systems market includes technological advancements. Major companies operating in the clinical trial management systems market are adopting new technologies to sustain their position in the market. For instance, in February 2021, eClinical Solutions LLC, a US-based cloud-based software-driven clinical data service, launched the elluminate Clinical Trial Management System (CTMS) built on the elluminate platform. To speed up digitalization and shorten the time it takes to evaluate clinical data, elluminate CTMS now offers a single source of truth for clinical operations data to enable quicker and more accurate decision-making.
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The global clinical trial management systems market is segmented -
1) By Product: Enterprise-Based, Site-Based
2) By Components: Software, Services
3) By Delivery Mode: Web-based Clinical Trial Management Systems, On-Premise Clinical Trial Management Systems, Cloud-Based Clinical Trial Management Systems
4) By End-User: Pharmaceutical And Biotechnology Firms, Medical Device Firms, Clinical Research Organization (CROs), Other End-Users
5) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the clinical trial management systems market.
The Business Research Company's "Global Clinical Trial Management Systems Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Clinical Trial Management Systems Market Include:
1. Executive Summary
2. Clinical Trial Management Systems Market Characteristic
3. Clinical Trial Management Systems Market Trends And Strategies
4. Clinical Trial Management Systems Market - Macro Economic Scenario
5. Clinical Trial Management Systems Market Size And Growth
……………
27. Clinical Trial Management Systems Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Clinical Trial Management Systems Market
29. Clinical Trial Management Systems Market Future Outlook And Potential Analysis
30. Appendix
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