The major factors driving the growth of the Clinical Trial Management System Market include the significant partnerships between Asian CROs and pharma companies, rising number of clinical trials in both developing and developed nations, availability of advanced and upgraded CTMS solutions, and rising government support for clinical trials in Asian countries.
The global Clinical Trial Management System Market is expected to reach 1,065.6 million by 2022 from USD 590.0 million in 2017, at a CAGR of 12.6%.
The pharmaceutical and biopharmaceutical companies segment is expected to hold the largest share of the market in 2017
By end user, the CTMS market is segmented into pharmaceutical and biopharmaceutical companies, contract research organizations, medical device companies, and others. The pharmaceutical and biopharmaceutical companies segment is further subsegmented into large pharmaceutical companies and mid-small pharmaceutical companies. The pharmaceutical and biopharmaceutical companies segment is expected to account for the largest share of the Clinical Trial Management System Market in 2017. The largest share is attributed to the increasing adoption of CTMS software during drug clinical trials by pharmaceutical and biopharmaceutical companies.
The enterprise CTMS segment is estimated to account for the largest share of the CTMS market by type in 2017
The CTMS market is segmented into enterprise CTMS and site CTMS on the basis of type. The enterprise CTMS segment is expected to command the largest share of the global CTMS market in 2017, and is expected to grow at the highest CAGR in the forecast period. This is attributed to the widespread adoption of enterprise CTMS by majority of the end users.
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North America is expected to dominate the Clinical Trial Management System Market during the forecast period
Geographically, the CTMS market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America is expected to account for the largest share of the global Clinical Trial Management System Market during the forecast period (2017-2022). Factors such as rising number of on-going clinical trials (especially in the US), presence of leading players from both demand and supply sides, and government funding for clinical research are contributing to the large share of the North American region.
Major players in Clinical Trial Management System Market include Oracle Corporation (US), Medidata Solutions, Inc. (US), PAREXEL International Corporation. (US), Bioclinica. (US), Bio-Optronics, Inc. (US), and IBM (US). Product launches, partnerships, collaborations, agreements, and market expansions were the key strategies adopted by players to grow and expand their presence in the clinical trial management system market.
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