[266 Pages Report] The global clinical trial management system (CTMS) market is expected to reach USD 1,065.6 million by 2022 from USD 590.0 million in 2017, at a CAGR of 12.6%. Factors such as significant outsourcing of clinical trial research to CROs, rising number of clinical trials, availability of advanced CTMS solutions, and rising government funds & grants to support clinical trials are driving the overall demand for CTMS across key markets.
By type, the enterprise CTMS segment is expected to be the largest segment of the CTMS market in 2017
This report broadly segments the CTMS market into type, delivery mode, component, end user, and region. On the basis of by type, the CTMS market is segmented into enterprise CTMS and site CTMS. The enterprise CTMS segment is expected to command the largest share of the global CTMS market in 2017 and is expected to grow at the highest CAGR in the forecast period. This is attributed to the global adoption of enterprise CTMS by majority of the end users.
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By end user, the contract research organizations segment is expected to grow at the highest rate during the forecast period
By end user, the CTMS market is segmented into pharmaceutical and biopharmaceutical companies, contract research organizations, medical device companies, and others. The pharmaceutical and biopharmaceutical companies’ segment is sub-segmented into large pharmaceutical companies and mid-small pharmaceutical companies. The contract research organizations segment is expected to grow at the fastest rate during the forecast period in 2017. This is attributed to the rise in outsourcing of clinical trials by pharma and biotechnology companies to CROs.
North America is expected to dominate the CTMS market during the forecast period
Geographically, the CTMS market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America is expected to account for the largest share of the global CTMS market during the forecast period (2017-2027). Factors such as rising number of on-going clinical trials (especially in the US), presence of leading players from both demand and supply sides, and government funding for clinical research are contributing to the large share of the North American region.
The major players operating in the clinical trial management system market include Oracle (US), Medidata Solutions (US), PAREXEL (US), Bioclinica (US), Bio-Optronics (US), and IBM (US).
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