Clinical Trial Management System Market Overview and Introduction

The Clinical Trial Management System market is estimated to be over US$ 600 Mn in 2018. It is anticipated to grow at a CAGR of 12.0% from 2019 to 2030.

The management of clinical trials as an individual entity is an extremely cumbersome procedure, as it involves gathering, processing, and reporting several forms of data. The clinical trial management system, assists in maintenance, planning, administration and management of participant contact information, tracking deadlines, milestone and documentation of other vital information related to clinical trials. These software improves efficiency of work flow & data flow processes and simultaneously saves labor, time and operational expenses.

Rapid growth in the number of clinical trials performed every year is considered to be a major contributing factor growth of the global market. Similarly, increasing investments in the sector of R&D coupled with rising incidences of chronic disorders worldwide is anticipated to present a lucrative scenario for the extensive growth of this market. However, budget constraints for start-ups and small-to-medium-sized enterprises (SMEs) to purchase clinical trial management systems, is likely to restrain the market to certain extent.

Clinical Trial Management System Market by Type, Delivery Mode, Component

On the basis of type, This market is segmented into site and enterprise. Wide scale adoption of enterprise clinical trial management systems by majority of end users is anticipated to contribute significantly to the largest revenue share of this segment. Similarly the segment of delivery mode is classified into web-based (hosted), cloud-based (SAAS), and licensed enterprise (on premise). The segment of web-based (hosted), clinical trial management system is estimated to account for the largest share of the global market, owing to ease of access, improved quality of clinical trial management, and productivity, these systems provide. The component segment of the global market can be briefly segmented into services and software.

Clinical Trial Management System Market by End Users

Finally, on the basis of end user this market can be distinctly segmented into medical device companies, pharmaceutical and biopharmaceutical companies, contract research organizations and other end users. Growing number of clinical trials and increasing adoption of clinical trial management systems to efficiently manage the vast array of data generated form these trials is estimated to contribute significantly to the dominant market share of pharmaceutical & biotechnology companies segment.

Clinical Trial Management System Market by Regions

The global market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of clinical trial management system, followed by Europe and Asia Pacific. North America will continue to dominate the global market in the forecast period owing to factors such as highly developed healthcare system, abundant number of ongoing clinical trials, presence of private and public funding in the sector of R&D and technological advancements among others. However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered at China, India, and Japan. Factors such as the rising focus of major players in emerging Asian countries, avaibility of diverse patient population, continual growth of the biopharmaceutical industries and supportive regulatory guidelines for clinical trials are driving the growth of the clinical trial management system market in this region.

Clinical Trial Management System Market Prominent Players

The prominent players in the global market are Oracle, Parexel, Bio-Optronics, IBM, Bioclinica, Medidata, Mednet Solutions, Veeva Systems, Mastercontrol and DZS Clinical Services among others