CTMS Market Size to Reach USD 1693.1 Million by 2026 at a CAGR of 10.1% | Valuates Reports

BANGALORE, India, July 29, 2021 /PRNewswire/ -- Clinical Trial Management System Market is Segmented by Type (Enterprise CTMS, Site CTMS), by Application (Pharma & Biopharmaceutical, Medical Device): Global Opportunity Analysis and Industry Forecast, 2021-2027. This report is published on Valuates Reports under Pharmaceuticals & Biotech Category.

The global Clinical Trial Management System (CTMS) market size is projected to reach USD 1693.1 Million by 2026, from USD 950.5 Million in 2020, at a CAGR of 10.1% during 2021-2026.

Major factors driving the growth of the Clinical Trial Management System (CTMS) market are:

An increase in demand for a centralized repository for the management of clinical trial data is expected to drive the CTMS market. A centralized, secure place for data gathering, storage, and retrieval is provided by a CTMS. CTMS's researchable library provides easy access to patient information, common commodities and services, and study-related documents.

A CTMS also aids in the management of a study's financial data, assuring correct sponsor invoicing and site payments. The technology can provide an interactive, complete study calendar, making it easy to keep track of study expenses.

Increasing investment by pharmaceutical and biotechnology companies coupled with government funding in promoting research activities is further expected to increase the adoption of CTMS, thereby increasing the Clinical Trial Management Systems market size. 

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-8Z2614/global-clinical-trial-management-system 

TRENDS INFLUENCING THE GROWTH OF CTMS MARKET

Increasing CROs (Contract research organization) due to the rising need for outsourcing clinical trials will increase the growth of the clinical trial management system market. The drug development process is incredibly risky for biotech/pharmaceutical companies, with much lower approval rates and huge costs. As a result, outsourcing the clinical trials program to multiple CROs has been identified as a way for pharmaceutical companies to save time and money while also supporting industry growth. CROs majorly use Clinical Trial Management System as it's a great place for members of a research team to work together, as well as for supporting collaboration across teams. 

Furthermore, the use of CTMS is expected to grow rapidly, as R&D spending rises and the number of medications in various stages increases. In addition, the pharmaceutical and biopharmaceutical industries have some of the highest R&D costs in the world. As a result, many biopharmaceutical and pharmaceutical businesses will be encouraged to outsource clinical trial services, consequently enhancing market acceptance and driving the Clinical Trial Management market growth.

One of the major advantages of a CTMS is its centricity approach. Data and information from various sources that are important to the study are centralized in one system. 

As a result, all members of the research team have access to the same degree of information at all times during your research. This feature is expected to drive the growth of the clinical trial management system market.

Furthermore, CTMS allows for the identification of potential problems at an early stage and can initiate corrective actions immediately. The usage of a CTMS can reduce entry errors by allowing for (automatic) quality checks inside and between data sets.

Get Free Sample: https://reports.valuates.com/request/sample/QYRE-Auto-8Z2614/Global_Clinical_Trial_Management_System_Market 

CTMS MARKET SHARE

Based on type, the Web-based segment is expected to be the most lucrative segment. This is due to various advantages associated with web-based solutions such as remote access to data and minimal technical issues. Web-based software also enables data centralization, making data accessible from any place. They aid in lowering the costs of system security, backups, updates, and uptime consistency.

Based on application, the pharma-biotech companies segment is expected to be the most lucrative. 

North America is the largest consumption place, with a consumption market share of over 50% in 2017. Following North America, Europe is the second-largest consumption place with a consumption market share of 24%.

Inquire for Regional Data: https://reports.valuates.com/request/regional/QYRE-Auto-8Z2614/Global_Clinical_Trial_Management_System_Market 

CTMS MARKET SEGMENTATION

Segment by Type

• Enterprise CTMS
• Site CTMS.

Segment by Application

• Pharma & Biopharmaceutical
• Medical Device
• Other.

By Region

• North America
• Asia Pacific
• Europe
• Middle East and Africa.

Key Companies

• Oracle
• Medidata Solutions
• PAREXEL
• Bioclinica
• IBM
• Veeva Systems
• ERT
• DSG
• Forte Research Systems
• MedNet Solutions
• Bio-Optronics
• DATATRAK
• MasterControl
• DZS Software Solutions
• ArisGlobal.

Buy Now for Single User: https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-8Z2614&lic=single-user

Buy Now for Enterprise User: https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-8Z2614&lic=enterprise-user

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

SIMILAR REPORTS

-  Clinical Trial market size is projected to reach USD 77410 Million by 2027, from USD 42900 Million in 2020, at a CAGR of 8.8% during 2021-2027.

-  Clinical Trial Supplies market size is projected to reach USD 3252.5 Million by 2027, from USD 1857 Million in 2020, at a CAGR of 8.3% during 2021-2027.

-  Clinical Data Management System market size is projected to reach USD 3748.3 Million by 2027, from USD 1319 Million in 2020, at a CAGR of 16.1% during 2021-2027.

-  Clinical Rehabilitation Service market size is projected to reach USD 250920 Million by 2027, from USD 168170 Million in 2020, at a CAGR of 5.9% during 2021-2027.

-  Clinical Trial Imaging market size is projected to reach USD 2159.5 Million by 2027, from USD 1316.6 Million in 2020, at a CAGR of 7.3% during 2021-2027.

-  Clinical Reference Laboratory Services market size is projected to reach USD 19340 Million by 2027, from USD 13560 Million in 2020, at a CAGR of 5.2% during 2021-2027.

-  Clinical Laboratory Test market size is projected to reach USD 414300 Million by 2027, from USD 266420 Million in 2020, at a CAGR of 6.5% during 2021-2027

-  Clinical Research Organization (CRO) Market

-  Clinical Laboratory Diagnostics Services Market

-  Clinical Laboratory Automation Systems Market

-  Clinical Trial Software Market

Click here to see related reports on CTMS Market

ABOUT US

Valuates offer in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

CONTACT US
Valuates Reports
sales@valuates.com
For U.S. Toll-Free Call  1-(315)-215-3225
For IST Call  +91-8040957137
WhatsApp : +91 9945648335
Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports
Linkedin - https://in.linkedin.com/company/valuatesreports
Facebook - https://www.facebook.com/valuatesreports

Logo : https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg