Clinical Trial Management System Market Worth 1,590 Million USD by 2025


Posted March 2, 2021 by mmvaidya

A detailed market estimation approach was followed to estimate and validate the size of the global clinical trial management system market and other dependent submarkets.
 
Market Estimation Methodology:

A detailed market estimation approach was followed to estimate and validate the size of the global clinical trial management system market and other dependent submarkets.

# The key players in the global clinical trial management system market were identified through secondary research, and their global market shares were determined through primary and secondary research.

# The research methodology includes the study of the annual and quarterly financial reports of the top market players as well as interviews with industry experts for key insights on the global clinical trial management system market.

# All percentage shares, splits, and breakdowns were determined by using secondary sources and verified through primary sources.

# All the possible parameters that affect the market segments covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Expected Revenue Surge:

The clinical trial management system market is projected to reach USD 1,590 Million by 2025 from USD 801 Million in 2020, at a CAGR of 14.7 % the forecast period.

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Major Growth Boosting Factors:

Growth in this market is primarily driven by rising industry-academia collaborations, the increasing number of clinical trials, rising technology adoption, and government support for research trials.

End Users:

The small & mid-sized pharma-biotech companies segment is expected to register the highest CAGR during the forecast period

Based on end-users, the clinical trial management system market has been segmented based on end-user category—large pharma-biotech companies, small & mid-sized pharma-biotech companies, CROs, medical device manufacturers, and other end users. Due to rising pressure of R&D costs, outcomes-based reimbursement, and stricter regulations imposed on large pharma companies, a part of their R&D functions is outsourced to smaller pharmaceutical companies, which increases the growth of companies in this category.

Geographical Growth Scenario:

North America is expected to dominate the global clinical trial management system market in 2019

North America, comprising the US and Canada, accounted for the largest share of the clinical trial management system market in 2019. The large share of this region can primarily be attributed to factors such as the high number of ongoing clinical trials (especially in the US), the presence of leading players from both the demand and supply sides, and the presence of a favorable government funding scenario for clinical research.

Global Leaders:

Oracle Corporation (US), Medidata Solutions (US), Parexel International (US), Bioclinica (US), and IBM (US), Bio-Optronics (US), Datatrak (US), Veeva Systems (US), DSG (US), MasterControl (US), ERT (US), Advarra Technology Solutions (US), MedNet Solutions (US), ArisGlobal (US), DZS Clinical Services (US), Crucial Data Solutions (US), Ennov (France), DataStat (US), and RealTime Software Solutions LLC (US) among others are some of the major players operating in the global clinical trial management system market.

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags clinical trial management , clinical trial management system , clinical trial management system market
Last Updated March 2, 2021