Clinical trial management system (CTMS) is a software solution for proper management, storage and analysis of drugs associated clinical data. Globally, the CTMS market is witnessing significant growth due to increasing R&D investment in pharmaceutical, life science and clinical research industries.It empowers organizations and research centers to enhance productivity and effectiveness of clinical trials by advancing and managing clinical trials. Integration of CTMS with HIS provides more accurate and time saving documentation, and it is also one of the major driving factors for the growth of the CTMS market.
Additionally, increasing prevalence of diseases is supporting clinical trials in different regions, and increased clinical research outsourcing is playing a major role in the growth of the CTMS market. Presence of various end users such as pharmaceuticals, clinical research organizations (CRO) and healthcare providers has increased the acceptance of CTMS. The CTMS market was estimated to be USD 844 million in 2013. It is likely to grow at a CAGR of 14% during 2013 to 2019 to reach USD 1,848.5 million in 2019.
North America has the largest market share in the global CTMS market. Web based CTMS is the largest mode of delivery and pharmaceutical industry is the largest end user of CTMS. In terms of growth, Asia is the fastest growing region, cloud based CTMS is the fastest growing mode of delivery and CRO’s are the fastest growing end users of CTMS.
North American market for CTMS was estimated at USD 514.4 million in 2013 and is expected to reach USD 1,107.5 million in 2019, growing at a CAGR of 13.6% from 2013 to 2019. Software segment was estimated at USD 585 million in 2013 and is expected to reach USD 1,274.2 million in 2019, growing at a CAGR of 13.9% from 2013 to 2019.
Oracle Corporation and PAREXEL are leading players in the market. Other major players of clinical trial management system market include BioClinica, MedNet Solutions, eClinforce, Bio-Optronics, Forte Research and DSG.
Global clinical trial management system market size, by region 2013-2019 (USD million)
The global clinical trial management systems market is growing at a substantial pace owing to the rise in research activities in life sciences, pharmaceuticals and clinical research industries. The global CTMS market, the market that covers software solutions capable of storing, managing and analyzing data associated with drugs in clinical systems, enables enhanced productivity and effectiveness of clinical trials. Such solutions empower research centers and organizations and lead to improved research results.
The report provides analysis of various segments of the market in great depth, while also identifying the strengths and weaknesses of prevalent operations and trends, and suggesting strategic business solutions for the same. The report explores the key regional markets, their contribution, and market shares in the overall CTMS market. The CTMS market in emerging economies and its scope of expansion in these regions is also analyzed in the report, together with major market drivers and inhibitors.
Overview of the Global Clinical Trial Management Systems Market
The CTMS market has made enormous progress in the Asia-Pacific region as the adoption of clinical trial management systems in the field of medical research and pharmaceuticals industry have increased manifold over the past decade. On a global front, the CTMS market had an estimated net worth of approximately US$844 million in 2013. By growing at a compound annual growth rate of 14% during the forecast period, the worldwide CTMS market is expected to acquire market value worth US$1,848.5 million by 2019.
A major factor that has positively influenced the CTMS market is the integration of CTMS solutions with Hospital Information Systems (HIS). This has allowed the global CTMS market in achieving substantial growth in the past few years. Rising prevalence of chronic diseases across the globe is also proving detrimental in growth of the global CTMS market.
The overall industry is segmented on the basis of delivery modes of CTMS solutions, types of CTMS solutions, major end users of CTMS solutions, components of a typical CTMS solution, and the major regional markets. Web based CTMS solutions are the lead revenue generator amongst the various types of modes of delivery. Amongst the various end-user industries, pharmaceutical industry is the largest share holder of the CTMS market. North America leads the CTMS market in terms of regionally active geographic markets. Amongst the various components of a typical CTMS solution, the segment of software is the lead revenue generator.
Asia is the fastest growing regional market and cloud based CTMS solutions are the fastest growing modes of delivery of CTMS solutions.
Companies mentioned in the research report
A major portion of market shares of the global CTMS market is captured by two leading companies – PAREXEL and the Oracle Corporation. Apart from these, the key market players that dominate the global CTMS market include MedNet Solutions, Bio-Optronics, eClinforce, BioClinica, DSG and Forte Research, among others.
Major geographies analyzed under this research report are:
- North America
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
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- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments