Global Clinical Trial Management System Market Driven By Rising Number Of Clinical Trials

SAN FRANCISCO, Oct. 26, 2017 Global Clinical Trial Management System Market Report, published by Variant Market Research, forecast that the global market was valued at $1,221 Million in 2016 and is expected to reach $3,407 Million by 2024, growing at a CAGR of 13.7% from 2016 to 2024. In geographical segments, Asia-Pacific and Europe are expected to grow at a CAGR of 15.3% and 14.2%, respectively, during the forecast period 2016-2024.

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Growing R&D expenditure of clinical research industries and life science, increase in number of new product launches, rising number of clinical trials, and expanding customer base due to the rising adoption of CTMS solutions are the key factors driving the global clinical trial management system. However, lack of skilled professionals to work on advanced CTMS and budget limitations of small and medium-sized biotechnology & pharmaceutical companies, and small CROs limits the growth of the global CTMS market. Furthermore, increasing private and public funding and promising government policies will provide several growth opportunities for the market.

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The global clinical trial management system market is categorized into component, type, mode of delivery, end-user, and geography. Component segment is further bifurcated into software and services. The type segment comprises of site clinical trial management system and enterprise clinical trial management system. On the basis of mode of delivery, the market is classified into licensed enterprise (on-premise), web based (on-demand), and cloud based (SaaS) segments. End-user segment includes pharmaceutical and biopharmaceutical companies, medical device companies, contract research organizations, and others.

Within component segment, software is expected to dominate the market with largest share in 2016. In mode of delivery, cloud based (SaaS) held the largest market share, followed by web based (on-demand). In 2016, pharmaceutical and biopharmaceutical sector is expected to dominate the end-user segment with maximum share.

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North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the major geographical segments of the global clinical trial management system. North America accounted for the major market share of 60% in 2016, followed by Europe with 27.3%. In terms of growth, Asia-Pacific is estimated to achieve the fastest CAGR during the forecast period, driven by increasing outsourcing of clinical trials, improving infrastructure, and increasing need for digitalization.

The key market players include Oracle Corporation, Forte Research Systems, BioOptronics, Inc., Parexel International Corporation, Medidata Solutions Inc, Mednet Solutions, Bioclinica, DATATRAK International, Inc., ICON plc and Guger Technologies Inc., among others.

About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data packs proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

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Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data packs proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

Variant Market Research
649 Mission St, 5th Floor,
San Francisco, CA 94105,
United States.
Tel: +1-415-680-2785
Fax: +1-415-680-2786
Email: michael.mendes@variantmarketresearch.com
Email: help@variantmarketresearch.com

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