Global Clinical Trial Management Systems Market Growth, Trends and Forecast (2019-2024): Cloud-based Clinical Trial Management Systems Expected to Exhibit the Fastest Growth Rate – ResearchAndMarkets.com

Trial Management Systems Market – Growth, Trends, and Forecast (2019 –
report has been added to ResearchAndMarkets.com’s

The clinical trial management systems market was valued at USD 665.9
million in 2017. Although the market has been in its nascent stage for
the last five years, it has currently established itself as a mature
market in the North American region.

Asia-Pacific is still experiencing a high growth rate, when compared to
other regions. This is mainly attributed to increasing clinical trials
due to the high availability of inexpensive resources and increasing
population pool in these regions. Moreover, the increased adoption of
clinical trial management systems in the past few years has been a major
factor that is contributing to the growth of this market.

Europe is expected to register a CAGR of 14.12%, as many Europeans
regions are still in the process of adopting these systems. Many
companies that have developed clinical trial management systems have
found a way to integrate with the existing software providers, in order
to provide an efficient workflow in clinical trial management.

The increasing innovative technological advancements to curb the
increasing costs associated with clinical trials has resulted in the
development of the clinical trials management system. Although these
systems have not been completely adapted due to various factors, the
increasing awareness and the need to cut down additional costs
associated with clinical trials are expected to drive the market in the
coming years.

Increasing R&D and the rise in the number of clinical trials in the
Asian region are expected to further contribute to the growth of the
market studied, during the forecast period.

Key Market Trends

Cloud-based Clinical Trial Management Systems sub-segment is
Expected to Exhibit Fastest Growth Rate Over the Forecast Period

Most big pharma and biotech companies are now increasingly adopting the
cloud-based CTMS (clinical trial management systems). This increased
adoption of cloud-based CTMS is because companies do not require to bear
huge costs associated with the purchase of servers, and installation and
validation of applications, and their maintenance. The new and advanced
cloud-based CTMS facilitate the collaboration among the different groups
at various sites to coordinate the successful completion of a trial.

BSI (Business Systems Integration AG) provides CTMS solution as a cloud
or on-premise solution. Its functionality enhances the clinical trial
operations from initial planning, implementation, reporting, patient
monitoring, and entire documentation. Though data security is a typical
challenge for cloud CTMS solution, most third-party providers have most
advanced datacenters that require the users accessing the CTMS from
outside company’s firewall to go through the authentication process. All
the above factors are expected to contribute to sub-segment’s growth
over the forecast period.

North America Captured the Largest Market Share and is Expected to
Retain its Dominance

North America dominated the overall clinical trial management systems
market, with the United States emerging as the major contributor to the
market. Factors, such as increasing R&D investments and rise in the
demand for drug development, are aiding the growth of the market studied
in the country. R&D budgets of the pharmaceutical companies have also
increased in the last few years, owing to the increasing focus on
regulating markets, complex molecules, and therapy segments.

In the United States, pharmaceutical companies spend more money, time,
and energy on R&D than others. According to ClinicalTrials.gov, in 2017,
262,433 clinical trials were carried out worldwide, which increased to
285,679 trials in 2018. Whereas, in the United States, 115,123 studies
were carried out. Thus, the rise in clinical trials in the region is
expected to increase the demand for clinical trial management systems,
which, in turn, is expected to aid the growth of the market studied in
the United States, over the forecast period.

Competitive Landscape

The presence of major market players, such as Bio-Optronics Inc., MedNet
Solutions Inc., Oracle, Parexel International Corporation, and IBM, is,
in turn, increasing the overall competitive rivalry of the market.

Large organizations rely heavily on advertising expenses and branding
strategies, collaborations, initiatives or programs at national levels,
which promote their product, and thus, get recognized earlier than other
brands in the market. With the high prevalence rate of diseases, the
intensity of competitive rivalry in the market is increasing over time.

Topics Covered

1 Introduction

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Dynamics

4.1 Market Overview

4.2 Market Drivers

4.2.1 Rising Incidences of Chronic Diseases and Lifestyle-related

4.2.2 Rise in Outsourcing of Clinical Trials and Implementation by
Contract Research Organizations

4.2.3 Synchronization of Hospital Information System (HIS) with CTMS

4.3 Market Restraints

4.3.1 Data Security Issues

4.3.2 High Cost Associated with CTMS

4.3.3 Lack of Qualified and Skilled Labor to Handle CTMS

4.4 Industry Attractiveness – Porter’s Five Forces Analysis

5 Market Segmentation

5.1 By Delivery Mode

5.1.1 Web-based Clinical Trial Management System

5.1.2 On-premise Clinical Trial Management System

5.1.3 Cloud-based Clinical Trial Management System

5.2 By Component

5.2.1 Software

5.2.2 Hardware

5.2.3 Services

5.3 By End User

5.3.1 Pharmaceuticals

5.3.2 Clinical Research Organization

5.3.3 Other End Users

5.4 By Type of System

5.4.1 Site-based Clinical Trial Management System

5.4.2 Licensed Enterprise-based Clinical Trial Management System

5.5 Geography

5.5.1 North America

5.5.2 Europe

5.5.3 Asia-Pacific

5.5.4 Middle East & Africa

5.5.5 South America

6 Competitive Landscape

6.1 Company Profiles

6.1.1 Bioclinica

6.1.2 Bio-Optronics Inc.

6.1.3 DATATRAK International Inc.

6.1.4 ERT Clinical

6.1.5 IBM

6.1.6 Medidata Solutions Inc.

6.1.7 MedNet Solutions Inc.

6.1.8 Oracle

6.1.9 Parexel International Corporation

6.1.10 ArisGlobal

7 Market Opportunities and Future Trends

For more information about this report visit https://www.researchandmarkets.com/research/ndf4sl/global_clinical?w=4


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