A clinical trial management system refers to a software system utilized to handle clinical trials conducted for various purposes. The system manages and maintains the performing, planning, and reporting functions, together with trial candidate’s data such as tracking deadlines, contact information, and milestones.
The key factors expected to contribute to the growth of the global clinical trial management system market during the forecast period include the elevated incidence of chronic diseases globally along with rising drift of outsourcing clinical trials. Further, swift expansion of healthcare IT, implementation of CTMS solutions, and rise in R&D spending by clinical research organizations & life science are projected to boost the market expansion. In addition, the elevated correctness of the data offered by clinical trial management systems is also expected to fuel the global market growth during the years to come.
The global clinical trial management system market can be bifurcated on the basis of delivery model, type, end-user, component, and region. The global market, based on delivery model can be divided into licensed enterprise, web-based (hosted CTMS), and cloud-based CTMS (SaaS). Based on type, the global market is segregated into on-site CTMS and enterprise CTMS. The global market, on the basis of end-users, can be classified into contract research organizations, medical device manufacturers, pharmaceutical & biopharmaceutical companies, and others. The global market, based on component, can be diversified into service, software, and hardware.
Regionally, the global clinical trial management system market is expected to be ruled by North America during the forecast period due to rising count of clinical trials together with growing expenditure by NIH for clinical research. Further, focus of firms on development of effective products and R&D activities will drive regional market growth. Asia Pacific is also projected to observe quickest growth owing to the rising count of clinical trials being performed in this region.
The prominent players active within the global clinical trial management market consists of Medidata Solutions, Oracle, BioClinica, Inc., Parexel, IBM, Bio-Optronics, Veeva Systems, MedNet Solutions, Merge Healthcare Incorporated, Forte Research Systems, Arisglobal, Mednet Solutions, DZS Software Solutions, eClinForce Inc., Guger Technologies Inc., DSG, Inc., ChemWare Inc., iWeb Technologies Limited, and ICON, Plc. To cite, in October 2020, a Dassault Systèmes firm, the worldwide leader in building end-to-end solutions to back the complete clinical development process, Medidata, procured the MC10’s digital biomarker business. The offerings of MC10 will get novel clinical analytics & biosensor abilities to prevailing Patient Cloud solutions of Medidata in eCOA (clinical outcome assessments), ePRO (patient-reported outcomes), and biomarker discovery.