Persistence Market Research Pvt. Ltd.

North America Remains Dominant in the Global Clinical Trial Management Systems Market Growing at 13.6% CAGR During the Forecast Period

Press Release   •   Feb 09, 2017 02:11 EST

Clinical trial used for safety and testing efficacy of drugs, medical devices or other therapeutic products, are currently witnessing an increasing growth. In 2013, the global market for clinical trial management system (CTMS) was worth US $0.8 billion and is estimated to account for US $1.8 billion by 2019 end. This market is expected to reflect a robust CAGR of 14% during the forecast period, 2013 to 2019.

Owing to huge efforts in post-clinical trials data generation and clinical trials management by clinical research centers, pharmaceutical companies and hospitals, CTMS is likely to gain high demand making information management easy. This data generated concerns with reporting, development and planning of clinical trials which results in excessive consumption by clinical research agencies and hospitals.

A Sample of this Report is Available Upon Request @ http://www.persistencemarketresearch.com/samples/3017

Software to Reach US $1.27 Billion by 2019 End

The global CTMS market is categorised mainly into component, type, end-user and mode of delivery. Based on component, the market is categorised into hardware, software and services. Around US $1.27 billion is estimated to be accounted by software by 2019 end. This segment is expected to reflect highest CAGR of 13.9% as compared to hardware and services.

Pharmaceuticals – Largest End-User Segment

By end-user, the market is segmented into pharmaceuticals, healthcare providers and clinical research organisations (CROs). Pharmaceuticals is deemed to be the largest end-user in the global market for clinical trial management systems while clinical research organisations segment is expected to reflect highest CAGR during the forecast period.

Web-based Clinical Trial Management System to Witness Highest CAGR

The clinical trial management systems market is divided into cloud-based, on-premise and web-based on the basis of delivery mode. Web-based segment is estimated to witness the highest CAGR during the forecast period.

North America to Remain Dominant in the Global CTMS Market During 2013 to 2019

Region-wise, the global CTMS market is categorised into Asia Pacific, North America, Europe and RoW (Rest of World). India and China are estimated to be lucrative for the global market for clinical trial management systems as clinical trial market is gradually shifting into Asia Pacific due to patent expiration laws, several regulatory and legal measures. Some Eastern and Central European countries are estimated to provide huge clinical development opportunities. A significant growth is expected to be registered by the European market. The market value of North America in the global CTMS market was worth US $0.5 billion in 2013 and is expected to reach US $1.1 billion by the end of forecast period. This region is estimated to remain dominant and grow at 13.6% CAGR during the forecast period. In contrast, increasing Asian market share is expected to hamper revenue share percentage of North American CTMS market.

Factors impeding the growth of global CTMS market include

  • Several countries impose austerity regulation resulting in complex protocols of clinical trials.
  • Legal review & protocol design, budget & contract negotiation, appropriate patient population availability and approval of Institutional Review Board (IRB).
  • Patient enrollment and recruitment stringency along with lengthy approvals remain the key challenges.

Increasing chronic disease prevalence is estimated to fuel the demand for efficient & effective management of hospital information, documentation and data within medical organisations which further drives the global CTMS market. A major driver for market growth of clinical trial management systems is provision of high information accuracy by CTMS. Increasing healthcare end-users and providers is another factor driving the global clinical trial management systems market.

Request to View Tables of Content @ http://www.persistencemarketresearch.com/market-research/clinical-trial-management-system-market/toc

Key prominent players in the global market for clinical trial management systems include Merge Healthcare Incorporated, PAREXEL International Corporation, MedNet Solutions Inc., DSG Inc., Forte Research Systems Inc., Oracle Corporation, Medidata Solutions Inc., BioClinica, Bio-Optronics Inc. and eClinForce Inc.

To Buy Full Report for a Single User @ http://www.persistencemarketresearch.com/checkout/3017

About Us

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Contact Us

Persistence Market Research

305 Broadway

7th Floor, New York City, 

NY 10007, United States,

USA - Canada Toll Free: 800-961-0353

Email: sales@persistencemarketresearch.com

Web: http://www.persistencemarketresearch.com