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Clinical Trial Management System (CTMS) Global Market Report 2024 - Clinical Trial Management System (CTMS) Market Share And Growth Analysis

10-01-2024 05:02 PM CET | IT, New Media & Software

Press release from: The Business research company

Clinical Trial Management System (CTMS) Market

Clinical Trial Management System (CTMS) Market

"The Business Research Company recently released a comprehensive report on the Global Clinical Trial Management System (CTMS) Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The clinical trial management system (ctms) market size has grown rapidly in recent years. It will grow from $1.23 billion in 2023 to $1.41 billion in 2024 at a compound annual growth rate (CAGR) of 15.3%. The growth in the historic period can be attributed to increasing clinical trial complexity, rise in global clinical trials, stringent regulatory compliance, growing focus on patient-centric trials, increasing outsourcing of clinical trials.

The clinical trial management system (ctms) market size is expected to see rapid growth in the next few years. It will grow to $2.36 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to emphasis on real-time data access, integration with electronic health records (ehrs), rise in virtual and decentralized trials, focus on risk-based monitoring, advancements in analytics and ai.. Major trends in the forecast period include focus on regulatory compliance and data security, rise of adaptive clinical trial designs, collaborative platforms for stakeholder engagement, remote site monitoring and management, evolving data standards and interoperability..

Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/clinical-trial-management-system-ctms-global-market-report

Market Drivers and Trends:
The increasing number of decentralized clinical trials is expected to propel the growth of the clinical trial management system (CTMS) market going forward. Decentralized clinical trials (DCTs) refer to studies that utilize telemedicine and local healthcare services to minimize or remove patients' need to visit hospital-based trial locations, in contrast to the traditional clinical trial framework. A clinical trial management system (CTMS) monitors recruitment and participant activities, providing detailed oversight and reporting throughout decentralized trials. For instance, in December 2021, according to Clinical Trials Arena, a UK-based online publication focused on clinical trials and research, the number of trials incorporating decentralized and virtual components is expected to reach approximately 1,300 trials in 2022, with a 28% increase compared to 1000 trials in 2021. Therefore, the increasing number of decentralized clinical trials will drive the growth of the clinical trial management system (CTMS) market.

Major companies operating in the clinical trial management system (CTMS) are innovating new technological platforms, such as Software as a Service (SaaS) solutions integrated with artificial intelligence, to hasten the development of drugs. A SaaS-based Clinical Trial Management System (CTMS) is a cloud-hosted software platform that assists in efficiently managing and overseeing various aspects of clinical trials, making it accessible from anywhere with an internet connection and reducing the need for local software installation and maintenance. For instance, in June 2023, Saama Technologies, Inc., a US-based provider of clinical development software and services, launched a unified platform of SaaS-based products that complement its existing artificial intelligence and machine learning-based solutions, facilitating faster clinical development and commercialization. The platform automates key clinical trial management processes, reducing query generation times by up to 90% and achieving significant time savings in study data transformation and analysis. It offers a comprehensive view of trial operations and patient progress in a single location.

Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=13147&type=smp

Major Key Players of the Market:
The International Business Machines Corporation, Oracle Corporation, Laboratory Corporation of America Holdings, IQVIA Holdings Inc., Wipro Limited, ICON Public Limited Company, PAREXEL International Corporation, Veeva Systems Inc., Bioclinica Inc., Medidata Solutions Inc., Calyx.ai, Clario Medical Imaging Inc., Advarra Inc., Bio-Optronics Inc., MasterControl Inc., ERT Clinical, iWeb Technologies Limited, Anju Software Inc., Axiom Real-Time Metrics, EClinForce Inc., MedNet Solutions Inc., DSG Inc., ArisGlobal LLC, DZS Clinical Services Inc., Datatrak International Inc., Nextrials Nc., SimpleTrials, PHARMASEAL International Limited, Crucial Data Solutions Inc., RealTime Software Solutions LLC

Clinical Trial Management System (CTMS) Market 2024 Key Insights:
• The Clinical Trial Management System (CTMS) Market is expected to grow to$2.36 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%.
• Adoption Of Saas And AI Integration In Ctms Solutions For Enhanced Clinical Trial Efficiency
• Growing Embrace Of SAAS And AI Integration In CTMS Solutions To Streamline Clinical Trials
• North America was the largest region in the clinical trial management system (CTMS) market in 2023.

We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=13147&type=smp

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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