Clinical Trial Management System (CTMS) Market Report

Market Insights

The Clinical Trial Management System (CTMS) Market is expected to grow from USD 810.3 million in 2020 to USD 1597.5 million by 2026 at a CAGR of over 12.2% during the forecast period.

Figure: Clinical Trial Management System (CTMS) Market Size, 2020-2026 (USD Million)

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What is a clinical trial management system?

A clinical trial management system is defined as a software system that is used by the biotechnology and pharmaceutical industries to manage clinical trials in clinical research. The CTMS maintains and manages the planning, performing, and reporting functions, along with participant contact information, tracking deadlines and milestones.

Key Players

Key players operating in the Clinical Trial Management System (CTMS) Market are-

• ArisGlobal LLC (US)
• Bioclinica (US)
• Bio-Optronics (US)
• DataTrak International, Inc. (US)
• Document Solutions Group (US)
• Eclinforce Inc (US)
• Advarra, Inc. (US)
• Medidata Solutions (US)
• MedNet Solutions, Inc. (US)
• Oracle Corporation (US)
• Parexel International (US)
• Veeva Systems Inc. (US)

Market Dynamics

The growth of the clinical trial management system (CTMS) market is primarily driven by an increasing number of clinical trials across geographies. The rising adoption of IT solutions in the healthcare industry is likely to drive market growth at a significant rate during the review period. Additionally, rising investment in research and development activities by life science and clinical research organization is likely to create lucrative opportunities for the players operating in the global market in the coming years.

Segments' Analysis

End-User Trends

Based on end users, the market has been segmented into clinical research organizations (CROS), medical device firms, pharmaceutical & biotechnology firms, and others. The clinical research organizations segment accounted for the largest market share in 2020 and is projected to register significant CAGR during the review period.

Regional Trends

Geographically, the market in North America accounted for the largest market share in 2020 and is expected to register significant CAGR during the review period. The market growth can be attributed to the high demand for advanced IT solutions in the healthcare sector coupled with the presence of key market players such as ArisGlobal LLC (US) and Bioclinica (US). The market in Asia-Pacific is expected to be driven by the rising adoption of CTMS in developing countries, particularly China and India.

COVID-19 Impact on Clinical Trial Management System (CTMS) Market

The covid-19 outbreak posed significant challenges for the healthcare sector across geographies. It impacted the growth of the clinical trial management system (CTMS) market positively as the number of clinical trials increased amid pandemics.

Critical Questions Answered in the Report

• What are the key trends in the Clinical Trial Management System (CTMS) market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the Clinical Trial Management System (CTMS) market?
• What are the key strategies adopted by the major vendors to lead in the Clinical Trial Management System (CTMS) market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the clinical trial management system (CTMS) market hopes to have the greatest opportunity to convert-

• Clinical trial management system (CTMS) manufacturers
• Clinical trial management system (CTMS) suppliers
• Clinical trial management system (CTMS) distributors
• Organizations
• Government bodies

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