[266 Pages Report] The global Clinical Trial Management System Market is expected to reach USD 1,065.6 million by 2022 from USD 590.0 million in 2017, at a CAGR of 12.6%. This figure shows the breakdown of the primaries on the basis of the company type, designation, and region considered during the research study.
Factors such as significant partnerships between biopharma companies and CROs, rising number of clinical trials, availability of advanced CTMS solutions, growing customer base for CTMS solutions, and rising government funding & grants to support clinical trials are driving the overall demand for CTMS across key markets.
However, budget constraints and limited awareness among researchers about the advantages of CTMS solutions are the major factors restraining the growth of CTMS market.
Market Dynamics:
Drivers:
# Significant partnerships between biopharma companies and CROs# Rising number of clinical trials# Availability of advanced CTMS solutions
# Growing customer base for CTMS solutions# Rising government funding & grants to support clinical trials
Restraints:
# Budget constraints
# Limited awareness among researchers about the advantages of CTMS solutions
Opportunities:
# Increased outsourcing of clinical trial processes by industrial researchers to Asian countries/ developing countries CROs
# Increasing use of platform-as-a-service (PaaS) and mobile computing
Challenges:
# Lack of skilled professionals
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The following are the major objectives of the study.
# To define, describe, segment, and forecast the global CTMS market on the basis of components, type, delivery mode, end user, and region.
#To provide detailed information regarding the major factors influencing the overall market growth (drivers, restraints, opportunities, challenges, and trends) across individual geographies
#To analyze micromarkets with respect to their individual growth trends, future prospects, and contributions to the overall market
#To analyze growth opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
#To forecast the size of the market segments with respect to the four key regions—North America (US, Canada), Europe (Germany, UK, France, and RoE), Asia Pacific (China, Japan, India, and RoAPAC), and the Rest of the World (RoW)
#To profile the key players in the global CTMS market and comprehensively analyze their market shares and core competencies
#To track and analyze competitive developments such as product launches and product enhancements; agreements, partnerships, and collaborations; mergers and acquisitions; and R&D activities in the CTMS solutions market.
During this research study, major players operating in the CTMS market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size.
Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva, along with primary respondents. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market.
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Analysis of the market developments between 2014 and 2017 revealed that several growth strategies such as product launches, enhancements, strategic acquisitions, agreements, partnerships, collaborations, and expansions were adopted by the market players to strengthen their product portfolios and maintain a competitive position in the CTMS market. Among these business strategies, product enhancements, agreements, and partnerships were the most widely adopted growth strategies by the players in the CTMS market.
Oracle (US) held the leading position in the global CTMS market in 2016. The company is one of the top players in the CTMS market due to its diversified geographic presence and large customer base, strong brand image, and selective and active acquisition program and alliances. The company offers cloud-based CTMS. The company has a strong geographic presence in over 175 countries across North America, Europe, Asia, Africa, and South America. The company mainly focuses on expansions and acquisitions to strengthen its dominant position in the market. For instance, in 2017, Oracle opened its Oracle Cloud EU Region in Germany, with the addition of modern infrastructure as a service (IaaS) architecture and new IaaS and platform as a service (PaaS) cloud services.
Medidata Solutions, Inc. (US) held the second position in the CTMS market in 2016. The company is one of the leading providers of cloud (software-as-a-service) solutions and has strong partnerships with CROs and pharmaceutical customers. Medidata is present in more than 130 countries with more than 849 customers across the globe. The company primarily adopts the strategy of partnerships to expand its presence in the CTMS market. In 2017, the company partnered with Karyopharm Therapeutics (US) to renew its Medidata Clinical Cloud platform.
Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva, along with primary respondents. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market.
You Can Also Request Bundle Reports@
https://www.marketsandmarkets.com/RequestBundleReport.asp?id=470
Analysis of the market developments between 2014 and 2017 revealed that several growth strategies such as product launches, enhancements, strategic acquisitions, agreements, partnerships, collaborations, and expansions were adopted by the market players to strengthen their product portfolios and maintain a competitive position in the CTMS market. Among these business strategies, product enhancements, agreements, and partnerships were the most widely adopted growth strategies by the players in the CTMS market.
Oracle (US) held the leading position in the global CTMS market in 2016. The company is one of the top players in the CTMS market due to its diversified geographic presence and large customer base, strong brand image, and selective and active acquisition program and alliances. The company offers cloud-based CTMS. The company has a strong geographic presence in over 175 countries across North America, Europe, Asia, Africa, and South America. The company mainly focuses on expansions and acquisitions to strengthen its dominant position in the market. For instance, in 2017, Oracle opened its Oracle Cloud EU Region in Germany, with the addition of modern infrastructure as a service (IaaS) architecture and new IaaS and platform as a service (PaaS) cloud services.
Medidata Solutions, Inc. (US) held the second position in the CTMS market in 2016. The company is one of the leading providers of cloud (software-as-a-service) solutions and has strong partnerships with CROs and pharmaceutical customers. Medidata is present in more than 130 countries with more than 849 customers across the globe. The company primarily adopts the strategy of partnerships to expand its presence in the CTMS market. In 2017, the company partnered with Karyopharm Therapeutics (US) to renew its Medidata Clinical Cloud platform.
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