IMARC Group, a leading market research company, has recently releases report titled “Clinical Trial Management Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global clinical trial management systems market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Clinical Trial Management Systems Market?
The global clinical trial management systems market size reached US$ 1,033.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,953.4 Million by 2028, exhibiting a growth rate (CAGR) of 11% during 2023-2028.
A clinical trial management system (CTMS) represents a suite of tools that are utilized for effectively planning, tracking, and managing clinical trials in medical research studies. It primarily involves start-up timelines, reporting protocol information and accrual data, financial management, standardized billing processes and invoicing, subject visit tracking, etc. Moreover, CTMS standardizes clinical and operational data via advanced visualization and analytical techniques. Consequently, clinical trial management systems are extensively used by medical researchers to analyze, manage, and facilitate the transfer of patient data.
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What are the growth prospects and trends in the clinical trial management systems industry?
The escalating demand for personalized treatments and regenerative medicines is primarily driving the clinical trial management systems market. In line with this, the increasing usage of CTMS as a centralized and web-based enterprise resource to support complex clinical research studies in real-time is further catalyzing the market growth.
Additionally, the rising prevalence of new infectious and chronic diseases is propelling the adoption of advanced diagnostics and drug discovery tools, which, in turn, is acting as another significant growth-inducing factor.
Besides this, the inflating need for cloud-based CTMS to conduct trials of medical products, monitor the administration of vaccines, manage patient data, etc., on account of the sudden outbreak of the COVID-19 pandemic, is also augmenting the global market.
Furthermore, numerous technological advancements, including automated eClinical solutions for improving productivity, study reconciliation, data quality, etc., are anticipated to fuel the clinical trial management systems market over the forecasted period.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
Breakup by Deployment Mode:
Breakup by End User:
- Contract Research Organization
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Advarra Inc., ArisGlobal LLC, BioClinica Inc., DataTrak International Inc., DZS Clinical Services Inc. (WDB Holdings Co. Ltd.), International Business Machines Corporation, Medidata Solutions Inc. (Dassault Systèmes SE), MedNet Solutions Inc., Oracle Corporation, Parexel International Corporation, RealTime Software Solutions LLC and Veeva Systems Inc.
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