Clinical Trial Management System Market 2021: 11.5% CAGR Led by CROs

Aug 17, 2016, 04:00 ET from Market Reports Hub

PUNE, India, August 17, 2016 /PRNewswire/ --

The global clinical trial management system (CTMS) market is estimated to grow at a CAGR of 11.5% from 2016 to 2021, to reach $920.2 million led by the contract research organizations segment which is estimated to witness the highest growth rate in the global CTMS market driven by the rising number of ongoing clinical trials.

Complete report on CTMS (clinical trial management system) market spread across 216 pages, profiling 12 companies and supported with 34 tables and 48 figures is now available at .

The adoption of CTMS software is on the rise across the globe as these solutions significantly increase the efficiency and reduce the cost of conducting clinical trials. Factors such as increasing adoption of CTMS solutions during clinical trials, growing number of clinical trials, and rising R&D expenditure of pharmaceutical and biopharmaceutical companies are driving the growth of the CTMS market. However, dearth of skilled professionals to operate the advanced CTMS solutions and budget constraints of small- and medium-sized pharmaceutical and biotechnology companies and small CROs are restraining the growth of this market.

The global CTMS market has been segmented on the basis of end user (pharmaceutical and biopharmaceutical companies, contract research organizations, medical device companies, and others), type (enterprise CTMS and site CTMS), component (software and services), delivery mode (web-based (hosted) CTMS, licensed enterprise (on premise) CTMS, and cloud-based (SaaS) CTMS) and region (North America, Europe, Asia-Pacific, and the Rest of the World).

The contract research organizations segment is estimated to witness the highest growth rate in the global CTMS market, by enduser, during the forecast period. Geographically, North America is expected to command the largest share of the global CTMS market in 2016, followed by Europe. The large share of the North American market is primarily driven by the rising number of ongoing clinical trials, rising government support for conducting clinical trials, and presence of a large customer base.

As of 2015, the global CTMS market was dominated by Oracle Corporation (U.S.), Medidata Solutions, Inc. (U.S.), and PAREXEL International Corporation (U.S.), that together accounted for ~60% of the market. New product launches; and partnerships, agreements, and collaborations are the major strategies adopted by market players to strengthen their presence and increase their share in the CTMS market.

The other CTMS market players have been profiled in this research such as Medidata Solutions, Inc. (U.S.), PAREXEL International Corporation (U.S.), BioClinica Inc. (U.S.), Bio-Optronics, Inc. (U.S.), ERT (U.S.), eClinforce (U.S.), Merge Healthcare Incorporated (U.S.), DATATRAK International Inc. (U.S.), Veeva Systems, Inc. (U.S.), DSG Inc. (U.S.), Forte Research Systems, Inc. (U.S.) and MedNet Solutions Inc. (US). Order a copy of Clinical Trial Management System Market by End-user (Pharmaceutical & Biotechnology, Medical Device Companies, CROs), Delivery Mode (Web Hosted, On-premise, Cloud-based), Type (Enterprise, Site), Component (Software, Service) - Global Forecast to 2021 research report at .

From an insight perspective, this research report focuses on various levels of analysis-industry analysis, market share analysis of top ten players, and detailed company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth market segments, high-growth regions and countries and their respective drivers, restraints, challenges, and opportunities.

On a related note, another research on Clinical Trials Imaging Market Global Forecast to 2020 says, the market is expected to USD 981.53 million by 2020 from USD 724.87 million in 2015, at a CAGR of 6.25% between 2015 and 2020. The growth of this market is mainly driven by growth in pharmaceutical & biotechnology industries, increase in R&D funding and increasing number of CROs. The geographic segments included in this report are North America, Europe, Asia, and Rest of the World (RoW). Companies like BioClinica, Inc., Biomedical Systems, Cardiovascular Imaging Technologies, ICON Public Limited Company, Intrinsic Imaging, LLC, IXICO, PLC, PAREXEL International Corporation, Radiant Sage, LLC, VirtualScopic, Inc. and WorldCare Clinical, LLC have been profiled in this 142 pages research report available at .

Explore more reports on Life Sciences market at .

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