San Francisco, 25
October 2018: The global clinical
trials management system (CTMS) market size is expected to
reach USD 1.6 billion by 2025, according to a new report by Grand View
Research, Inc. The market is anticipated to register a CAGR of 12.1% during the
forecast period. Rapid growth of healthcare IT and increasing adoption of CTMS
solutions are likely to drive the market. Moreover, heavy investments by
various pharmaceutical and biotechnology companies coupled with government
funding for R&D is also expected to boost market growth in the coming
years.
According to the estimates of International
Federation of Pharmaceutical Manufacturers & Associations, research-based
pharmaceutical industry has spent around USD 149.8 billion in 2015.
Furthermore, the annual spending of the pharmaceutical industry is much higher
than other technology industries. This is also estimated to contribute toward
the expansion of the market in the years to come.
Access
Research Report of Clinical Trial
Management System Market @ www.grandviewresearch.com/industry-analysis/clinical-trial-management-system-ctms-market
Further key findings from the study suggest:
· Increasing R&D investments by
healthcare companies coupled with government funding are expected to propel
market growth
· Enterprise CTMS accounted for the largest
share in 2016 due to the benefits offered by it, such as real-time insight into
the operational activities and helpful tracking in managing the regulatory
process
· Web-based systems contributed towards the
largest share in 2016 owing to the benefits offered, such as remote access of
data and minimal technical issues. Cloud-based system is anticipated to exhibit
the fastest growth over the forecast period. Real-time data tracking, high
security, easy accessibility from any device, and privacy are few factors that
are attributing towards the segment’s growth
· Based on region, North America held the
largest market share and is expected to retain its dominance during the
forecast period. This is attributed to high adoption of advanced technologies
and improved infrastructure in the healthcare facilities
· The Asia Pacific region is likely to
witness a significant growth in the next decade due to increasing government
incentives and low clinical trial costs
· Some of the key players in the global
market are Surgery Partners; PARAXEL International Corp.; Oracle Corp.;
Medidata Solutions, Inc.; Forte Research Systems, Inc.; Medpace Holdings, Inc.;
and Clinical Data, Inc.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/healthcare-it
Grand View Research has segmented the
global clinical trials management system market on the basis of type, delivery
mode, component, end user, and region:
Clinical Trials Management System Type
Outlook (Revenue, USD Million, 2014 - 2025)
·
Enterprise
·
On-site
Clinical Trials Management System Delivery
Mode Outlook (Revenue, USD Million, 2014 - 2025)
·
Web-based
·
Cloud-based
·
On-premise
Clinical Trials Management System Component
Outlook (Revenue, USD Million, 2014 - 2025)
·
Software
·
Services
Clinical Trials Management System End-use
Outlook (Revenue, USD Million, 2014 - 2025)
·
Pharmaceutical and Biotechnology firm
·
CROs
·
Medical Device Firm
Clinical Trials Management System Regional
Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
Access Press Release of
Clinical Trial Management System Market@ www.grandviewresearch.com/press-release/global-clinical-trial-management-system-ctms-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business decisions,
we offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
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