Clinical Trial Management System (CTMS) Market Size, Emerging Trends, Forecasts, and Analysis
The market research report, entitled Clinical Trial Management System (CTMS) Market shows good possibilities in the Clinical Trial Management System (CTMS) Market during the next five-year period and ensures more information regarding market trends. The following summary will give an overview of the drivers, challenges and key players in the market.
Global Clinical Trial Management System (CTMS) Market Forecast:
The Clinical Trial Management System (CTMS) Market is expected to grow from USD 943.65 million in 2021 to USD 2401.71 million by 2028 at a CAGR of over 14.12% during the forecast period of 2022-2028.
Key Players
The following are some of the key players in the Clinical Trial Management System (CTMS) Market:
· ArisGlobal LLC (US)
· Bioclinica (US)
· Bio-Optronics (US)
· DataTrak International, Inc. (US)
· Document Solutions Group (US)
· Eclinforce Inc (US)
· Advarra, Inc. (US)
· Medidata Solutions (US)
· MedNet Solutions, Inc. (US)
· Oracle Corporation (US)
· Parexel International (US)
· Veeva Systems Inc. (US)
Clinical Trial Management System (CTMS) Market Segmentation:
The report segments based upon demographics, geographics, benefits and volume etc, has different driving factors and identifies the most-attractive segments and sub-segments. Clinical Trial Management System (CTMS) Market segmentation will not only help marketers to be more efficient in terms of time, money and other resources but also allows companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.
Based on end users, the market has been segmented into clinical research organizations (CROS), medical device firms, pharmaceutical & biotechnology firms, and others. The clinical research organizations segment accounted for the largest market share in 2020 and is projected to register significant CAGR during the review period.
Geographically, the market in North America accounted for the largest market share in 2020 and is expected to register significant CAGR during the review period. The market growth can be attributed to the high demand for advanced IT solutions in the healthcare sector coupled with the presence of key market players such as ArisGlobal LLC (US) and Bioclinica (US). The market in Asia-Pacific is expected to be driven by the rising adoption of CTMS in developing countries, particularly China and India.
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