Major Objectives of This Study:
# To define, describe, and forecast the clinical trial management system market based on product & service, deployment mode, deployment type, and end user.
# To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges).
# To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall clinical trial management system market.
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for market leaders.
# To estimate the size & growth potential of the market segments and subsegments with respect to five key regions—North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa—and key countries.
# To profile the key players in the market and comprehensively analyze their global revenue shares and core competencies.
# To track and analyze competitive developments, such as product launches and approvals, partnerships, agreements, collaborations, and acquisitions in the market.
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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 % during the forecast period.
Growth Boosting Factors:
The growth of the CTMS market is driven by rising industry-academia collaborations, the increasing number of clinical trials, rising technology adoption, and government support for research trials. However, budget constraints and limited knowledge about advanced CTMS solutions restrain the market growth
Market Size 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.
Data Triangulation:
After deriving the overall clinical trial management system market value data from the market size estimation process, the total market value data was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments, data triangulation and market breakdown procedures were employed wherever applicable. The data was triangulated by studying various qualitative and quantitative variables as well as by analyzing regional trends for both the demand- and supply-side macroindicators.
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.
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Geographical Growth Survey:
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.
