The Rising Prevalence of Chronic Diseases and Increasing Demand for Personalized Medicine has Propelled the Growth of the Clinical Trials Management System Market in the North America Region!
- Himanshu Patni
- May 13, 2023
- HEALTHCARE, NEWS
- Clinical Trials Management System Market, Clinical Trials Management System Market Analysis, Clinical Trials Management System Market Forecast, Clinical Trials Management System Market Growth, Clinical Trials Management System Market Report, Clinical Trials Management System Market Share, Clinical Trials Management System Market Size, Clinical Trials Management System Market Trends
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The clinical trial management system market is growing rapidly in North America due to several growth factors such as well-established healthcare infrastructure and many clinical trials happening there. Medical experts are also demanding some advanced and better systems to manage these trials, and technology is becoming more popular in healthcare. There are also rules that require clinical trials to be managed well. Another factor for the growth of this market is many people in North America have long-term health problems, and there is a focus on personalized medicine. This means more clinical trials are needed, which creates more demand for systems to manage them.
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Moreover, the number of clinical trials ongoing in the US and Canada is constantly changing as new trials start which will drive the growth of the market for instance, more than 350,000 clinical trials were registered on ClinicalTrials.gov in September 2021. which is a comprehensive database of clinical trials conducted worldwide. Of those, approximately 200,000 were registered in the US and approximately 24,000 were registered in Canada.
Further, the North American Clinical Trials Management System Market was valued at USD 1 billion in 2021 & is expected to grow at a CAGR of 14% from 2022-2030. This is mainly due to the increasing number of clinical trials, and growing demand for cloud-based CTMS in the region, and Advancements in technology such as artificial intelligence, machine learning, and big data analytics, are driving the adoption of CTMS, as it enables efficient and effective management of clinical trials.
FIG. 1 North America Clinical trials management system Market Revenue (2020-2028)- USD Mn
Based on component, the clinical trials management system market is bifurcated into software and services. The software category led the market in 2021 with the highest market share. The software category is to witness higher adoption of clinical trial management systems during the forecast period owing to the increasing patient data, and growth in the SKUs is expected to drive the growth of this segment of the pharmaceutical management system.
By end-users, the market is bifurcated into pharmaceutical & biopharmaceutical companies, clinical research organization, and healthcare providers. Among these, the pharmaceutical & biopharmaceutical companies category captured the majority share of the clinical trials management system market in 2021 owing to the development of pharmaceutical & biopharmaceutical companies, government initiatives, and rising partnerships or collaboration between key players will boost the growth of the market. For instance, Veeva Systems deployed its suite of clinical trial management systems, including the Veeva Vault CTMS, in partnership with approx 40 CROs in October 2022. additionally, the company reported rapid growth during the pandemic, as virtual or half-breed clinical preliminaries became essential.
Global Clinical trials management system Market Segmentation
Market Insight, by Type
· Site-Based
· Site-Based
Market Insights, by Delivery Mode
· Web-Based CTMS
· On-Premises
· Cloud-Based
Market Insights, by Component
· Software
· Services
Market Insights, by End-Users
· Pharmaceutical & Biopharmaceutical Companies
· Clinical Research Organization
· Healthcare Providers
Market Insight, by Region
· North America
o U.S.
o Canada
o Rest of North America
· Europe
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe
· APAC
o China
o India
o Japan
o Rest of APAC
· Rest of the World
Top Company Profiles
· IQVIA Inc
· Dassault Systèmes
· Oracle
· Datatrak Int.
· Clario
· SimpleTrials
· Calyx
· RealTime Software Solutions, LLC
· Laboratory Corporation of America® Holdings
· PHARMASEAL
