The global clinical trials management system (CTMS) market size is expected to reach USD 1.62 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 12.1% over the forecast period. Rapid growth of healthcare IT, high R&D expenditure by life science and clinical research organizations, and adoption of CTMS solutions is anticipated to drive the market growth.
Increasing
investment by pharmaceutical and biotechnology companies coupled with government
funding is promoting research activities. This factor is expected to
boostgrowth of the market for clinical trial management systems.According to
the estimates of the International Federation of Pharmaceutical Manufacturers
& Associations (IFPMA), global research-based pharmaceutical industry has
spent around USD 149.8 billion in 2015. The annual spending of pharmaceutical
industry is 5.5 times greater than the aerospace industry, 1.8 times more than
software and computer services andsoftware industry, and 5 times more than
chemicals industry.
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Further key
findings from the report suggest:
- Enterprise CTMS held the
largest market share in 2016 due to the benefits such as real-time insight
into operational activities and efficient tracking in tracking and
managing the regulatory process
- Web-based systems held the
largest market share in 2016 owing to the benefits such as remote access
of data and minimal technical issues
- Cloud based system is
anticipated to exhibit the fastest CAGRover the forecast period. Real-time
data tracking, high security, easy accessibility from any device, and
privacy are a few factors attributed to the growth
- Based onregion, North
America is expected to continue holding the largest market share during
the forecast period due to high adoption of advanced technology and
improved healthcare infrastructure
- Asia Pacificis likely to
witness significant growthover the next decade due toincreasing government
incentives and low cost of clinical trials
- Some of the key players
operating in the Clinical Trials Management System (CTMS) market are
Surgery Partners;PARAXEL International Corporation; Oracle Corporation;
Medidata Solutions Inc.; Forte Research Systems Inc.; Medpace Holdings
Inc.; and Clinical Data Inc.
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Grand View Research has segmented
the global Clinical Trials Management System (CTMS) market based on type,
delivery mode, component, end user, and region:
Clinical Trials
Management System (CTMS) Type Outlook (Revenue, USD Million, 2014 - 2025)
- Enterprise
- Site
Clinical Trials
Management System (CTMS) Delivery Mode Outlook (Revenue, USD Million, 2014 -
2025)
- Web-based
- Cloud-based
- On-Premise
Clinical Trials
Management System (CTMS) Component Outlook (Revenue, USD Million, 2014 - 2025)
- Software
- Services
Clinical Trials
Management System (CTMS) End-User Outlook (Revenue, USD Million, 2014 - 2025)
- Pharmaceutical and
Biotechnology Firm
- Johnson & Johnson
- Roche
- Novartis
- Pfizer
- Merck
- GlaxoSmithKline
- Novo Nordisk
- Amgen
- Bristol Myesr Squibb
- Sanofi
- CROs
- Medical Device Firm
Clinical Trials
Management System (CTMS) Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Belgium
- Netherlands
- Asia Pacific
- Japan
- China
- India
- Thailand
- Australia
- Singapore
- Malaysia
- Indonesia
- South Korea
- Philippines
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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