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Clinical Trial Management System Market - Emerging Trends & Global Future Forecasts

Global Industry Dynamics:

Factors such as significant partnerships between biopharma companies and CROs, rising number of clinical trials, availability of advanced CTMS solutions, growing customer base for CTMS solutions, and rising government funding & grants to support clinical trials are driving the overall demand for CTMS across key markets. However, budget constraints and limited awareness among researchers about the advantages of CTMS solutions are the major factors restraining the growth of CTMS market.

Driver: Rising number of clinical trials to drive the CTMS market 

The life science industry is witnessing a global increase in the number of clinical trials each year. This growth in the number of clinical trials conducted can be attributed to factors such as the rapidly increasing aging population, high prevalence of chronic diseases, expiry of blockbuster drugs, availability of government funds for clinical trials, and fierce competition in the pharmaceutical industry. According to ClinicalTrials.gov, as of December 06, 2017, 260,848 clinical trials were registered across the globe.

As CTMS solutions are predominantly used to manage clinical trials, the global rise in the number of clinical trials is directly contributing to the increase in the demand for CTMS solutions.

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Restraint: Limited awareness among researchers about the advantages of CTMS solutions

Several investigators are either unaware or ignorant of the benefits of CTMS over traditional paper-based work or spreadsheets method. Clinical trial investigators need to understand the prospects of these tools which enhance the clinical trial process and help manage it effectively. This limited awareness in the research community is consequently limiting the adoption of CTMS solutions.

End Users:

The pharmaceutical and biopharmaceutical companies segment is expected to hold the largest share of the market in 2017

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 further subsegmented into large pharmaceutical companies and mid-small pharmaceutical companies. The pharmaceutical and biopharmaceutical companies segment is expected to account for the largest share of the CTMS market in 2017. The largest share is attributed to the increasing adoption of CTMS software during drug clinical trials by pharmaceutical and biopharmaceutical companies.

Global Geographical Survey:

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.

Global Leaders:

As of 2016, the global clinical trial management systems market was dominated by Oracle Corporation (US), Medidata Solutions, Inc. (US), PAREXEL International Corporation (US), Bioclinica. (US), Bio-Optronics, Inc. (US), IBM (US), DATATRAK (US), Veeva Systems (US), DSG (US), MasterControl (US), ERT (US), Forte Research Systems (US), MedNet Solutions (US), ArisGlobal (US), and DZS Software Solutions (US).

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Different Growth Strategies Adopted by Key Players:

Analysis of the market developments between 2014 and 2017 revealed that several growth strategies such as product launches, enhancements, strategic acquisitions, agreements, partnerships, collaborations, and expansions were adopted by the market players to strengthen their product portfolios and maintain a competitive position in the CTMS market. Among these business strategies, product enhancements, agreements, and partnerships were the most widely adopted growth strategies by the players in the CTMS market.


on January 5 at 7:24

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