Global Clinical Trial Management System Market Size is expected to have lucrative growth due to higher prevalence of diseases, R&D activities in life science and clinical research industries and outsourcing of clinical trial process. Furthermore, raising new product developments, integration of HIS and CTMS and higher adoption of CTMS solutions by end users are some strong factors that may propel the market growth. However, factors that may hamper growth are dearth of skilled professionals and high cost of CTMS solutions.
A Clinical Trial Management System is a software system used by biotechnology and pharmaceutical industries to manage clinical trials in clinical research. This CTMS will serve as a single, centralized, web-based enterprise resource to support clinical research studies conducted within or across the three institutions. The system maintains and manages planning, performing and reporting functions, along with participant contact information, tracking deadlines and milestones.
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Clinical Trial Management System Market: Key Players
Bio-Optronics, Inc., DSG Inc. (Document Solutions Group), Medidata Solutions, Parexel International Corporation, ERT, Forte Research Systems, Merge Healthcare Incorporated, ArisGlobal, Bioclinica, Inc., Datatrak International, Inc., eClinForce, Inc., Inc., Inc., Mednet Solutions, Inc., Oracle Corporation, and Veeva Systems, Inc.
Global Clinical Trial Management System (CTMS) Market is bifurcated into site and enterprise. Enterprise CTMS is at top of the market due to the benefits it offers such as real-time insights into the operational activities like robust reporting, accruals and deviations, tracking and management, enhanced billing compliance of regulatory processes. Additionally, enterprise CTMS helps in bringing consistency in the budget coupled with stronger support for financial management. Bio-Optronics, Forte Research Systems Inc. and Oracle Corporation are the companies which offer enterprise CTMS.
The growing prevalence of diseases is favoring the clinical trials in varied regions and increased clinical research outsourcing plays a key role in growth of CTMS market. Higher regulatory requirements in different countries has given rise to higher complexity for clinical trial protocols. Presence of different end users such as clinical research organizations (CRO), healthcare providers and pharmaceuticals has adhered the acceptance of CTMS.
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The delivery mode, the web-based CTMS is anticipated to lead the Clinical Trial Management System (CTMS) market share. The growth is attributed to the fact that web-based CTMS solution improves quality of productivity, timeliness and clinical trials, ease of access that enables easier co-relative studies, faster transfer of data and less cost offered than other products. Based on end-user, the biopharmaceutical and pharmaceutical companies’ classification is anticipated to hold largest market share. There is higher adoption of CTMS software at time of drug clinical trials by biopharmaceutical and pharmaceutical companies.
Some Key Highlight Points from TOC:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Global Clinical Trial Management System market Overview, By Type
Chapter 5. Global Clinical Trial Management System Market Overview, By End user
Chapter 6. Global Clinical Trial Management System Market Overview, By delivery mode
Chapter 7. Company Profiles
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This post was originally published on The Picayune Current