FELTON, California,
October 23, 2017 /PRNewswire/ --
The global clinical Trial Management System (CTMS)
market size was valued at USD 700.5
million in 2015 and is expected to grow with CAGR of 14.0%
over the forecast period. The major drivers for this market are
augmenting growth opportunities and research in the healthcare
market and the ancillary rising healthcare IT industry.
During clinical trials a large amount of unstructured data is
generated which needs to be stored and interpreted using various
models of simulation and regression. Scientists and researchers are
working towards making the system more accessible, thereby helping
in maintenance and structuring of this data.
Based on type the CTMS industry is segmented in to enterprise
based solutions and site based solutions. Enterprise based solution
comprise of analytics and data management software that can be
accessed by multiple users across the vertical of the firms,
whereas site based solutions are accessible to only the authorized
personnel at the site of trial.
Based on delivery mode, industry is classified as web-based,
on-premise, and cloud-based. All of these delivery modes have their
own advantages to offer, but to be in sync with the entire
industry, cloud-based is expected to witness exponential
growth.
Based on component, the CTMS market is classified as service and
software. Software is expected to dominate within the component
segment owing to the advantages such as technological advancement
and rapid evolution. The other major driving force for this is the
first in the market strategy leading to a higher growth of this
market with a higher competition.
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End-users comprise of pharmaceutical & biotechnology
players, medical device manufacturer, CROs, and others. The most
important factor driving the growth of this market is the
outsourcing of the research activities. Companies dominating the
market such as Roche, Baxter and
Merck and other pharmaceutical companies are driven by the primary
driving force which is increasing demand for these systems with the
increasing R&D investment and introduction of government
regulations helping the growth of the same.
North America is expected
contribute highest market over the forecast period due to the
factors such as quick and advanced IT infrastructure development.
Furthermore, presence of legislation such as Health Insurance
Portability and Accountability Act (HIPPA) which avoids fraud and
misuse of information.
The major players in this market include Forte Research Systems
Inc., Oracle Corporation, Data MATRIX, eClinForce Inc., Medidata
Solutions, Bioclinica, DATATRAK, Guger Technologies, Jade Global
Solutions, PARAXEL International Corporation, and others. Others
are inclusive of MedNet Solutions, IncChemWare Inc., iWEb
Technologies, Integrated Clinical Solutions, and MAJARO
InfoSystems.
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Market Segmentation:
By Type (USD Million), 2013 - 2024
By Delivery Mode (USD Million), 2013 - 2024
- Web-Based
- Cloud-Based
- On-Premise
By Component (USD Million), 2013 - 2024
By End-users (USD Million), 2013 - 2024
- Pharmaceutical & Biotechnology Firms
- Clinical Research Organizations (CROs)
- Medical Device Firms
- Others
By Region (USD Million), 2013 - 2024
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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