- Increasing research and development activities across life science, pharmaceutical, and clinical research industries may prove to be a great growth generator for the market
- The global clinical trial management systems market is prophesied to expand at CAGR of 10.5% across the forecast period of 2019-2027 on the back of novel therapy developments
ALBANY, New York, July 20, 2020 /PRNewswire/ -- The clinical trial management systems market may expand on the back of the ubiquitous demand for novel therapeutic products across the pharmaceutical and biotechnology sector. In addition, the strengthening web of increased chronic disease-related caseload is serving as an opportunity for the clinical trial management systems market to record a good growth rate.
According to the expert analysis by Transparency Market Research (TMR), the global clinical trial management systems market is anticipated to expand at a CAGR of 10.5% across the forecast period of 2019-2027. The global clinical trial management systems market was valued at US$ 1.4 bn in 2018.
The integration of cutting-edge technologies such as artificial intelligence (AI) and cloud computing may serve as a bridge of success toward growth for the clinical trial management systems market across the forecast period of 2019-2027. In addition, the potential of the clinical trial management systems to handle complex protocols in clinical trials may bring extensive growth for the clinical trial management systems market across the forecast period.
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Clinical Trial Management Systems Market: Key Findings
- Research and development activities to take a front seat across the forecast period
- The cloud-based clinical trial management system may serve as a prominent growth accelerator for the global clinical trial management systems market across 2019-2027
- The on-premise clinical trial management system is also expected to record a leading market share throughout the forecast period
- In the context of component, the software segment is predicted to hold an important share of clinical trial management systems market; it also acquired a major market share in 2018
- The enterprise-based segment may observe a healthy CAGR across from 2019 to 2027
- Pharmaceutical segment is expected to hold a prominent position among the end-user segments
- North America may bag the title of the key growth contributing region
Explore 241 pages of in-depth research, incisive insights, and detailed country-level projections. Analyze and discover the latest developments in the Clinical Trial Management System Market (Mode of Delivery - On-premise, Web-based, Cloud-based; Component- Software, Hardware, Services; Type - Enterprise-based, Site-based; End use - Pharmaceutical Industries, Contract Research Organizations, Health Care Providers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027 at https://www.transparencymarketresearch.com/report-toc/544
Clinical Trial Management Systems Market: Growth Boosters
The clinical trial management systems market will observe growth based on the productivity-enhancing capabilities and the efficacy quotient recorded across various clinical trials.
- Technological advancements through intensive research and development activities are bringing extensive growth opportunities for manufacturers in the clinical trial management systems market
- Large-scale investments by biotech and pharma companies with the support of the government are proving to be a major growth generator for the clinical trial management systems market
- Developments in software for efficient clinical trial data management may have a positive influence on the growth of the clinical trial management systems market
- Mergers, acquisitions, and partnerships may serve as robust growth pillars for the clinical trial management systems market
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How can COVID-19 Outbreak Influence Growth of Clinical Trial Management Systems Market?
The COVID-19 pandemic has bruised many aspects be it personal, financial, or mental. The need for an effective vaccine is being echoed across the world. Many scientists, researchers, and manufacturers have united to create a promising vaccine for COVID-19. Clinical trials are ongoing in several countries for potential COVID-19 vaccines. For efficient clinical trial procedures, the demand for clinical trial management systems has skyrocketed greatly. This factor may help the clinical trial management systems market to climb the ladder of growth at a rapid pace. Collaborations for developing efficient clinical trial management systems arealso gaining considerable momentum.
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Global Clinical Trials Management System Market: Segmentation
By Mode of Delivery
- Pharmaceutical Industries
- Contract Research Organizations (CRO)
- Health Care Providers
- North America
- Asia Pacific
- Rest of the World (RoW)
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