Clinical Trials Management System Market: Current Analysis and Forecast (2022-2030)
$3999 – $6999
Emphasis on Type (Enterprise-Based and Enterprise-Based); Delivery Mode (Web-Based CTMS, On-Premises, and Cloud-Based); Component (Software and Services); End-Users (Pharmaceutical & Biopharmaceutical Companies, Clinical Research Organization, and Healthcare Providers); and Region/Country
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. Moreover, the market is growing due to the increasing number of clinical trials being conducted worldwide, particularly in the fields of pharmaceuticals, biotechnology, and medical devices. CTMS solutions are essential tools for the efficient management of clinical trials, and their increasing adoption is expected to fuel the growth of the market. Moreover, with the growing prevalence of chronic diseases worldwide the demand for clinical trials to test new treatments and therapies is increasing, thereby driving the demand for the CTMS market. For instance, according to the WHO International Clinical Trial Registry Platform (ICTRP), the United States had the most clinical trials between 1999 and 2021, with 157,618, followed by China (with 80,333 trials) and Japan (with 57,754). Additionally, the increasing complexity of clinical trials is driving the demand for CTMS solutions, which can help manage multiple trials across different sites and provide real-time data access and analysis.
Some of the major players operating in the market include IQVIA Inc.; Dassault Systèmes; Oracle; Datatrak Int.; Clario; SimpleTrials; Calyx; RealTime Software Solutions, LLC; Laboratory Corporation of America® Holdings; and PHARMASEAL. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst delivery mode, cloud-based category is expected to witness significant growth during the forecast period”
Based on delivery mode, the market is segmented into web-based CTMS, on-premises, and cloud-based. Amongst these, the cloud-based category is expected to witness significant growth during the forecast period owing to its cost-effectiveness, scalability, and flexibility which are driving their adoption by its end-users. Also, the growing demand for efficient trial management, the rising healthcare costs for chronic diseases, and advancements in technology boost the growth of the market. For instance, as per the CDC, patients with mental health issues and chronic diseases account for 90% of the 3.8 trillion USD in annual healthcare costs.
“Amongst end-users, the clinical research organizations (CROs) captured the majority share of the clinical trials management system market in 2021”
By end-users, the market is bifurcated into pharmaceutical & biopharmaceutical companies, clinical research organization, and healthcare providers. Among these, clinical research organizations (CROs) captured the majority share of the clinical trials management system market in 2021. The increasing demand for outsourcing clinical trials to CROs is expected to drive the growth of the CTMS market. CROs are expected to witness significant growth in the coming years due to their expertise in clinical trial management, increasing complexity of clinical trials, and cost-effectiveness.
“APAC is expected to grow at a steady rate of the market in 2021”
The Asia-Pacific (APAC) region is expected to witness significant growth in the CTMS market due to several factors. Such as the large and growing population, with the increasing incidence of chronic diseases, which is driving the demand for clinical trials. The growing investments in healthcare infrastructure and the increasing focus on improving the quality of healthcare are also contributing to the growth of the CTMS market in the region. Moreover, the rising adoption of CTMS solutions by pharmaceutical and biopharmaceutical companies, CROs, and medical device companies is another factor driving the growth of the market in the APAC region.
Clinical Trials Management System Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the Clinical Trials Management System Market|
|2.2.||Research Methodology of the Clinical Trials Management System Market|
|5||IMPACT OF COVID-19 ON THE CLINICAL TRIALS MANAGEMENT SYSTEM MARKET|
|6||CLINICAL TRIALS MANAGEMENT SYSTEM MARKET REVENUE, 2020-2030F|
|10.1.||Pharmaceutical & Biopharmaceutical Companies|
|10.2.||Clinical Research Organization|
|11.1.3.||Rest of North America|
|11.2.6.||Rest of Europe|
|11.3.4.||Rest of Asia-Pacific|
|11.4.||Rest of World|
|13||CLINICAL TRIALS MANAGEMENT SYSTEM MARKET OPPORTUNITIES|
|14||CLINICAL TRIALS MANAGEMENT SYSTEM MARKET TRENDS|
|15.1.||Demand Side Analysis|
|15.2.||Supply Side Analysis|
|16||VALUE CHAIN ANALYSIS|
|19.1.1.||Porters Fiver Forces Analysis|
|20.8.||RealTime Software Solutions, LLC|
|20.9.||Laboratory Corporation of America® Holdings|
Research Methodology for the Clinical Trials Management System Market Analysis (2022-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global clinical trials management system market were the three major steps undertaken to create and analyze the adoption of smart homes in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global clinical trials management system market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the clinical trials management system market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the clinical trials management system market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, delivery mode, component, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the clinical trials management system market. Further, we conducted factor analysis using dependent and independent variables such as type, delivery mode, component, and end-users of the Clinical Trials Management System Market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Clinical Trials Management System Market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Clinical Trials Management System Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Clinical Trials Management System Market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Clinical Trials Management System Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Clinical Trials Management System Market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type, delivery mode, component, and end-users in the global Clinical Trials Management System Market.
The main objective of the Global Clinical Trials Management System Market Study
The current & future market trends of the global Clinical Trials Management System Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Clinical Trials Management System Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the type, delivery mode, component, and end-users
- Define and analysis of the regulatory framework for the smart home industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Clinical Trials Management System Market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the Clinical Trials Management System Market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry