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Clinical Trial Management System Market Worth $1,065.6 Million By 2022

Dec. 10, 2020 2:51 AM ETOracle Corporation (ORCL), IBM
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Summary

  • Emerging industry trends.
  • Global future forecasts.

Growth Boosters for Global Clinical Trial Management System Market:

The major factors driving the growth of the CTMS market include the significant partnerships between Asian CROs and pharma companies, rising number of clinical trials in both developing and developed nations, availability of advanced and upgraded CTMS solutions, and rising government support for clinical trials in Asian countries.

Key questions addressed in the report:

# What are the growth opportunities related to CTMS market across major regions in the future?

# Emerging countries have immense opportunities for the growth and adoption of enterprise CTMS products. # Will this scenario continue in the next five years?

# What are the various types of CTMS products and their market share in the overall market?

# What are the new trends and advancements in the clinical trials industry?

What the Market Looks Like?

The global clinical trial management system (CTMS) market is expected to reach USD 1,065.6 million by 2022 from USD 590.0 million in 2017, at a CAGR of 12.6%.

Download PDF Brochure @ Clinical Trial Management System Market

Geographical Growth Scenario:

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:

The major players operating in the clinical trial management system market include Oracle (US), Medidata Solutions (US), PAREXEL (US), Bioclinica (US), Bio-Optronics (US), and IBM (US).

Different Growth Strategies Adopted by Them:

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.

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