As mentioned in this research report, the global market for clinical trial management is likely to register growth at a CAGR of 10.92% over the period of 2021-2028.
Factors such as an alarming rise in chronic diseases, a surge in R&D activities in the medical sector, and benefits offered by CTM software are stimulating the growth of the reviewed market over the forecasted period. Additionally, the increase in clinical trials is opening new avenues for the market during the registered period.
However, concerns regarding the security of CTM systems, along with the high initial cost of implementation, are limiting the global market's growth. The high costs of installing and maintaining CTM software have made the researchers and pharmaceutical companies rethink investing in these systems, obstructing the market's progress.
The global clinical trial management market covers North America, Asia-Pacific, Latin America, Europe, Middle East and Africa regions.
The Asia-Pacific is likely to become the fastest evolving market in the clinical trial management market over the estimated phase 2021-2028. The region's strong growth can be attributed to its high population base, rising awareness about clinical management products, and the developing R&D sector. Moreover, the advanced healthcare infrastructure and surge in healthcare reforms are adding to the market's growth.
Furthermore, the growing focus of leading manufacturers in expanding their geographic presence across the region are key factors generating new growth opportunities for the studied market.
The prominent enterprises in the clinical trial management market include Parexel International Corporation, Oracle Corporation, Advarra (Forte Research Systems Inc), Mednet Solutions Inc, Medidata Solutions Inc, Veeva Systems Inc, Arisglobal LLC, Bio-Optronics Inc, Bioclinica Inc, and IBM Corporation.
IBM Corporation is an information technology company offering integrated solutions. It conducts its business through segments, including cognitive solutions, global business services, technology services & cloud platforms, and others. Among its products, IBM clinical development is a platform featuring solutions that help gather, organize, analyze, and report data for type, size, or phase of the trial globally. With a broad consumer base globally, IBM is headquartered in New York, the United States.
Key Topics Covered:
1. Global Clinical Trial Management Market - Summary
2. Industry Outlook 2.1. Market Scope 2.2. Key Insights 2.2.1. Enterprise-Based Ctm Contributes a Major Share in Product Type Segment 2.2.2. Healthcare Providers Are Rapidly Growing End-Users in the Market 2.2.3. Software is the Largest Component in the Clinical Trial Management Market 2.2.4. Cloud Model of Deployment is a Promising Segment in the Market 2.3. Porter's Five Forces Analysis 2.3.1. Threat of New Entrants 2.3.2. Threat of Substitute 2.3.3. Bargaining Power of Suppliers 2.3.4. Bargaining Power of Buyers 2.3.5. Intensity of Competitive Rivalry 2.4. Market Attractiveness Index 2.5. Vendor Scorecard 2.6. Market Drivers 2.6.1. Alarming Rise in Chronic Diseases 2.6.2. Surge in Research & Development in the Medical Sector 2.6.3. Benefits Offered by Ctm Software 2.7. Market Restraints 2.7.1. Concerns Regarding the Security of Ctm Systems 2.7.2. Lack of Skilled Workforce 2.7.3. High Cost of Implementation 2.8. Market Opportunities 2.8.1. Growth in Clinical Trials 2.8.2. Outsourcing Clinical Trials for Cost Reduction 2.9. Key Strategic Developments 2.9.1. Merger & Acquisitions 2.9.2. Product Launch & Developments 2.9.3. Partnership, Contract/Agreement, & Collaboration 2.10. Impact of COVID-19 on the Clinical Trial Management Market
3. Global Clinical Trial Management Market Outlook - by Deployment Mode 3.1. Web-Based Deployment 3.2. On-Premise Deployment 3.3. Cloud-Based Deployment
4. Global Clinical Trial Management Market Outlook - by Component 4.1. Software 4.2. Hardware 4.3. Services
5. Global Clinical Trial Management Market Outlook - by Product Type 5.1. Enterprise-Based Ctm 5.2. Site-Based Ctm
6. Global Clinical Trial Management Market Outlook - by End-User 6.1. Pharmaceutical & Biopharmaceutical Companies 6.2. Clinical Research Organizations 6.3. Healthcare Providers
7. Global Clinical Trial Management Market - Regional Outlook 7.1. North America 7.1.1. Market by Deployment Mode 7.1.2. Market by Component 7.1.3. Market by Product Type 7.1.4. Market by End-User 7.1.5. Country Analysis 184.108.40.206. United States 220.127.116.11. Canada 7.2. Europe 7.2.1. Market by Deployment Mode 7.2.2. Market by Component 7.2.3. Market by Product Type 7.2.4. Market by End-User 7.2.5. Country Analysis 18.104.22.168. United Kingdom 22.214.171.124. Germany 126.96.36.199. France 188.8.131.52. Spain 184.108.40.206. Italy 220.127.116.11. Russia 18.104.22.168. Rest of Europe 7.3. Asia-Pacific 7.3.1. Market by Deployment Mode 7.3.2. Market by Component 7.3.3. Market by Product Type 7.3.4. Market by End-User 7.3.5. Country Analysis 22.214.171.124. China 126.96.36.199. Japan 188.8.131.52. India 184.108.40.206. South Korea 220.127.116.11. Asean Countries 18.104.22.168. Australia & New Zealand 22.214.171.124. Rest of Asia-Pacific 7.4. Latin America 7.4.1. Market by Deployment Mode 7.4.2. Market by Component 7.4.3. Market by Product Type 7.4.4. Market by End-User 7.4.5. Country Analysis 126.96.36.199. Brazil 188.8.131.52. Mexico 184.108.40.206. Rest of Latin America 7.5. Middle East and Africa 7.5.1. Market by Deployment Mode 7.5.2. Market by Component 7.5.3. Market by Product Type 7.5.4. Market by End-User 7.5.5. Country Analysis 220.127.116.11. United Arab Emirates 18.104.22.168. Turkey 22.214.171.124. Saudi Arabia 126.96.36.199. South Africa 188.8.131.52. Rest of Middle East & Africa
8. Competitive Landscape 8.1. Medidata Solutions Inc 8.2. Arisglobal LLC 8.3. Bioclinica Inc 8.4. Bio-Optronics Inc 8.5. Advarra (Forte Research Systems Inc) 8.6. Oracle Corporation 8.7. IBM Corporation 8.8. Mednet Solutions Inc 8.9. Parexel International Corporation 8.10. Veeva Systems Inc
9. Research Methodology & Scope 9.1. Research Scope & Deliverables 9.1.1. Objectives of Study 9.1.2. Scope of Study 9.2. Sources of Data 9.2.1. Primary Data Sources 9.2.2. Secondary Data Sources 9.3. Research Methodology 9.3.1. Evaluation of Proposed Market 9.3.2. Identification of Data Sources 9.3.3. Assessment of Market Determinants 9.3.4. Data Collection 9.3.5. Data Validation & Analysis