The Clinical Trial Management System Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Clinical Trial Management System Global Market Report 2024, The clinical trial management system market size has grown rapidly in recent years. It will grow from $1.73 billion in 2023 to $1.97 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to increase in clinical trial complexity, growing globalization of clinical trials, rise in clinical trial volume, adoption of electronic data capture (edc), demand for cost and time-efficient trials
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The clinical trial management system market size is expected to see rapid growth in the next few years. It will grow to $3.21 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to emphasis on patient-centric clinical trials, adoption of risk-based monitoring, growth in precision medicine, introduction of adaptive trial designs, increased outsourcing of clinical trial operations, mobile health (mhealth) integration in clinical trials, implementation of cloud-based ctms solutions, focus on data standardization and interoperability. Major trends in the forecast period include advances in information technology, real-time data access and management, integration of artificial intelligence in ctms, utilization of blockchain for data security, collaboration between pharma companies and cros.
The increasing number of clinical trials is expected to propel the growth of the clinical trial management system market. Clinical trials are research studies conducted on human participants to evaluate the safety, efficacy, and potential benefits of new medical treatments, interventions, or drugs. Clinical Trials Management Systems (CTMS) are software platforms designed to streamline and facilitate the management of clinical trials. For instance, in May 2023, according to ClinicalTrials.gov, a part of the National Institutes of Health (NIH), a US-based government agency responsible for conducting and supporting medical research, the number of registered clinical trials studies increased from 399,499 in 2022 to 437,533 in all 50 states of the United States and across 221 countries. Further, it was reported that 140,492 studies (31%) are registered in the U.S. only, while 241,498 studies (53%) are recorded in non-U.S. locations. Therefore, an increasing number of clinical trials will drive the growth of the clinical trial management system market.
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The clinical trial management system market covered in this report is segmented –
1) By System Type: Enterprise Based Clinical Trial Management System, Site Based Clinical Trial Management System
2) By Component: Software, Services, Hardware
3) By Mode Of Delivery: Cloud Based Clinical Trial Management System, Web Based Clinical Trial Management System, On-Premise Clinical Trial Management System
4) By End-User: Pharmaceutical And Biopharmaceutical Companies, Medical Device Manufacturers, Clinical Research Organizations (CRO), Other End-Users
Technological advancements are the key trend gaining popularity in the clinical trial management system market. Major companies operating in the trial management system market are concentrating on creating innovative product technologies to strengthen their position in the market. For instance, in June 2023, Saama Technologies, Inc., a US-based provider of clinical development software and services, launched a unified platform of Software as service-based products that complement its existing artificial intelligence and machine learning-based solutions, facilitating faster clinical development and commercialization. The platform automates key clinical trial management processes, reducing query generation times by up to 90% and achieving significant time savings in study data transformation and analysis. It offers a comprehensive view of trial operations and patient progress in a single location.
The clinical trial management system market report table of contents includes:
1. Executive Summary
2.Clinical Trial Management System Market Characteristics
3.Clinical Trial Management System Market Trends And Strategies
4.Clinical Trial Management System Market analysis
5.Clinical Trial Management System Market Size And Growth
6.Clinical Trial Management System Segmentation
7.Clinical Trial Management System Regional And Country Analysis
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27.Clinical Trial Management System Competitive Landscape And Company Profiles
28.Clinical Trial Management System Key Mergers And Acquisitions
29.Clinical Trial Management System Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- International Business Machines Corporation
- Oracle Corporation
- Cognizant Technology Solutions India Private Limited
- Laboratory Corporation of America Holdings
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