Major Growth Driving Factors:
Growth in clinical trial management system market is primarily driven by rising industry-academia collaborations, the increasing number of clinical trials, rising technology adoption, and government support for research trials. However, budget constraints and limited knowledge about advanced CTMS solutions restrain the market growth.
Leading Companies Operating in the Global CTMS Industry:
# Oracle Corporation (US)
# Medidata Solutions (US)
# Parexel International (US)
# Bio-Optronics (US)
# Datatrak (US)
# Veeva Systems (US)
# MasterControl (US) among others.
Role of Leading Companies in Global Growth:
The competitive landscape includes the analysis of the key growth strategies adopted by major players between 2017–2020 to expand their global presence and increase their market shares in clinical trial management system market.
Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=470
The key growth strategies adopted by the top players in the clinical trial management system market include product launches and approvals, agreements, expansions, and acquisitions. Acquisitions were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the clinical trial management system market. In 2019, the clinical trial management system market was dominated Oracle Corporation (US), Medidata Solutions (US), Parexel International (US), Bioclinica (US), and IBM (US).
Medidata Solutions (US) is a leader in the global clinical trial management system market. The company offers cloud-based (software-as-a-service) CTMS across the globe. It primarily focuses on partnerships and collaborations to expand its market presence. For instance, the company signed a research partnership with several industry stakeholders during 2016–2020, including Hanmi Pharma (South Korea) and GSK (UK).
Oracle Corporation (US) holds the leading position in the global clinical trial management system market. It has a wide range of CTMS solutions and a broad customer base in over 145 countries. It primarily focuses on capability expansion and partnerships & collaborations to sustain its leading position in the CTMS market.
In the past three years, the company partnered or collaborated with several industry stakeholders for collaborative research that utilizes CTMS solutions, such as FHI Clinical (US). Besides product launches, the company also acquired goBalto (aimed to strengthen its services & customer assistance capabilities across its customer base) and established the Oracle Cloud EU Center (Germany) to expand its market presence in Europe.
Recent Developments:
# In June 2019, Parexel International Corporation (US) launched an enhanced integrated outsourcing delivery model for functional service provider (FSP) services at the DIA 2019 Global Annual Meeting in San Diego, US.
# In May 2019, Bio-optronics (US) launched three products to the CCTrialSuite basket application—CCeSource, CCeReg & CCeConsent.
# In June 2018, Bioclinica (US) launched eClinical Solution namely the SMART Technology Suite.
Get Sample Pages to Know More Details@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=470
Expected Revenue Growth:
The clinical trial management system market is projected to reach USD 1,590 million by 2025, at a CAGR of 14.7% during the forecast period.
Large pharma-biotech companies segment is expected to account for the largest share of the clinical trial management system market, by the end user
Based on end users, the global clinical trial management system market has been segmented based on end-user category—large pharma-biotech companies, small & mid-sized pharma-biotech companies, CROs, medical device manufacturers, and other end users. One of the key factors driving the use of CTMS is an increasing emphasis on R&D. For instance, PhRMA member companies in the US increased their R&D expenditure from ~USD 26.0 billion in 2000 to USD 58.8 billion in 2015 (Source: Pharmaceutical Research and Manufacturers of America).
Get More Information About Related Topics:
CRO Services Market - Emerging Trends & Global Forecast to 2027
Clinical Decision Support Systems Market - Emerging Trends & Global Forecast to 2027
AI in Drug Discovery Market - Emerging Trends & Global Forecast to 2027
Healthcare Analytics Market - Emerging Trends & Global Forecast to 2026
Healthcare IT Market - Global Forecast to 2026
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
No comments:
Post a Comment