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2022
Clinical Trial Management Market

Clinical Trial Management Market

by Type (Enterprise-Based and Site-Based), Delivery Mode (Web-Based, On-Premise, and Cloud-Based), Component (Software and Services), and End User (Pharmaceutical & Biopharmaceutical Companies, Clinical Research Organizations, and Healthcare Providers): Global Opportunity Analysis and Industry Forecast, 2021--2030

✷  Report Code: A02243
Pages: 233
Feb 2022 | 15221 Views
Author(s) : Linu D, Tanjeem S , Onkar S
Tables: 157
Charts: 59
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Clinical Trial Management System Market: 

The global clinical trial management market was valued at $969.4 million in 2020, and is projected to reach $2,810.5 million by 2030, registering a CAGR of 11.2% from 2021 to 2030. A clinical trial management system (CTMS) is a software system used by biotechnology and pharmaceutical industries to manage clinical trials. The system aims to manage and maintain tracking of patient data. Clinical trial management systems incorporate different components consisting of software, hardware, and services. Clinical trial management system provides data to business intelligence system, which acts as access centralized data, thus reducing the number of delayed trials. 

The COVID-19 outbreak is anticipated to have a negative impact on growth of the global clinical trial management market. Focus on developing a novel vaccine and treatment for COVID-19 disrupted upcoming and ongoing clinical trials on other diseases around the globe. According to the Journal of International Nepal Epidemiological Association, in 2020, it was reported that the ability to conduct ongoing clinical trials during COVID-19 pandemic has affected 69% of respondents.

Growth of the global clinical trial management market is majorly driven by increase in industry academic collaborations, rise in number of clinical trials, growth in technology in the healthcare sector, and increase in government support for research trials. In addition, growth in number of clinical trial management system (CTMS) is attributed to factors such as high prevalence of chronic diseases.

	Clinical-Trial-Management-Marke

Furthermore, products of clinical trial management system are efficient, easy to use, provide effective patient safety and regulatory compliances, and enhance financial management. For instance, in December 2020, Environmental Response Team (ERT), a global company specializing in clinical services, announced the launch of data insight to enhance the study effectiveness and efficiency. Moreover, in January 2020, Veeva, a cloud computing company, announced the launch of veeva vault payment software, which is an application used for veeva vault CTMS. Growth in number of clinical trials and increase in number of key players to develop advanced clinical trial management system (CTMS) solution drive growth of the market.

Clinical Trial Management Market
By Type

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Enterprise Based segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.

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Global Clinical Trial Management Market Segmentation

The global clinical trial management market is segmented on the basis of type, delivery mode, component, and end user, and region. By type, the market is categorized into enterprise-based and site-based. On the basis of component, it is divided into software and service. By end user, it is divided into pharmaceutical & biopharmaceutical companies, clinical research organizations, and healthcare providers. Region wise, the clinical trial management market is divided into North America, Europe, Asia-Pacific, and LAMEA. 

Segment Review

Depending on type, the enterprise-based segment was the highest contributor to the market in 2020, and this trend is expected to continue during the forecast period, owing to advancements in technology in the healthcare sector, and initiatives taken by organizations to develop the healthcare sector.

Clinical Trial Management Market
By Delivery Mode

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Web Based segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.

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However, the site-based segment is expected to witness considerable growth during the forecast period, owing to increase in prevalence of chronic diseases, rise in adoption of new technologies in clinical trials, and increase in demand of site-based clinical trial management system.

By delivery mode, the web-based segment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to increase in demand for web-based CTMS and increase in number of clinical trials. Web-based clinical trial management system (CTMS) possess advantages such as it enhances quality and productivity of clinical trials, provides better time management, and ease of access. However, the cloud-based segment is expected to witness considerable growth during the forecast period, owing to advancements in technology in the healthcare sector and surge in adoption of cloud-based system.

Clinical Trial Management Market
By Component

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Software segment is projected as one of the most lucrative segment.

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By component, the software segment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to availability of advanced software, development in medical software, and increase in patient population. However, the services segment is expected to witness considerable growth during the forecast period, owing to increase in number of clinical trials and growth of the healthcare insurance industry.

By end user, the pharmaceutical & biopharmaceutical companies segment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to development of pharmaceutical and biopharmaceutical companies and initiatives taken by government and private organizations to develop the pharmaceutical industry. However, the clinical research organizations segment is expected to witness considerable growth during the forecast period, owing to rise in prevalence of chronic and rare diseases, increase in number of clinical trials, and increase in investments in R&D activities in the pharmaceutical and biopharmaceutical sector.

Clinical Trial Management Market
By End User

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Topical Administration segment is projected as one of the most lucrative segment.

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North America garnered a major share in the clinical trial management market in 2020, and is expected to continue to dominate during the forecast period, owing to rise in prevalence of chronic diseases, increase in presence of key players to develop advanced software, and development in R&D activities in the healthcare sector in the region. However, Asia-Pacific is expected to register highest CAGR of 13.4% from 2021 to 2030, owing to increase in funds from government and private organizations to support clinical trials and increase in number of clinical trials. 

Key players operating in the global clinical trial management market include Advarra, Inc., Clario, Deloitte Touche Tohmatsu Limited, IBM Corporation, Medideta Solution Inc., Mednet Solution Inc., Oracle Corporation, PAREXEL International Corporation, Thermo Fisher Scientific, Inc., and Veeva System Inc.

Clinical Trial Management Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

North America was holding a dominant position in 2020 and would continue to maintain the lead over the analysis period.

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Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the clinical trial management market, and the current trends & future estimations to elucidate imminent investment pockets.
  • It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing market opportunities.
  • Extensive analysis of the clinical trial management market based on procedures and services assists to understand the trends in the industry.
  • Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Clinical Trial Management Market Report Highlights

Aspects Details
By Type
  • Enterprise-Based
  • Site-Based
By Delivery mode
  • Web-based CTMS
  • On-premise
  • Cloud Based
By Component
  • Software
  • Services
By End Users
  • Pharmaceutical & Biopharmaceutical Companies
  • Clinical Research Organization
  • Healthcare Providers
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
By Key Market Players
  • Advarra, Inc
  • Clario
  • Deloitte Touche Tohmatsu Limited
  • IBM Corporation
  • Medideta Solution Inc.
  • Mednet Solution Inc.
  • Oracle Corporation
  • PAREXEL International Corporation
  • Thermo Fisher Scientific, Inc.
  • Veeva System Inc
 

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This section provides opinions of top-level CXOs operating in the global clinical trial management (CTM) market. According to insights of CXOs, the global clinical trial management market is expected to exhibit high growth potential, owing to factors such as rise in R&D expenditure for development of novel drugs & medical devices, increase in demand and acceptance of clinical trial management systems among clinical research organizations and pharmaceutical & biopharmaceutical companies. Moreover, rise in healthcare expenditure and better implementation of government regulations in countries such as Japan, China, and India also help boost adoption of clinical trial management system contributing to its market size. Low cost of conducting clinical trials in developing regions has increased the trend of outsourcing clinical trials, which, in turn, propels the industry growth.

Demand for management of clinical trial data is on significant rise globally. This is anticipated to rise in number of clinical trials, owing to high demand for novel therapeutic drugs and medical devices. Increase in prevalence of chronic diseases and the need for clinical trials has further supplemented the market growth. Furthermore, increase in awareness regarding benefits of using these systems fuel the market growth. However, high cost associated with CTM and lack of skilled professionals is expected to hamper the market growth.

 

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FREQUENTLY ASKED QUESTIONS?

A. The total market value of clinical trial management market is $969.4 million in 2020.

A. The forecast period in the report is from 2021 to 2030

A. The market value of clinical trial management Market in 2021 was $1,078 million

A. The base year for the report is 2020.

A. Yes, clinical trial management companies are profiled in the report

A. The top companies that hold the market share in clinical trial management market are Advarra, Inc., Clario, Deloitte Touche Tohmatsu Limited, IBM Corporation, Medideta Solution Inc., Mednet Solution Inc., Oracle Corporation, PAREXEL International Corporation, Thermo Fisher Scientific, Inc., and Veeva System Inc.

A. Asia-Pacific is expected to register highest CAGR of 13.4% from 2021 to 2030, owing to increase in funds from government and private organizations to support clinical trials and increase in number of clinical trials

A. The key trends in the clinical trial management market are by increase in industry academic collaborations, rise in number of clinical trials, growth in technology in the healthcare sector, and increase in government support for research trials

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