× Industry Reports Services Press Release Contact us About us

North America Clinical Trial Management System Market Share By End-use (Pharmaceutical & Biopharmaceutical Companies, Clinical Research Organizations, Healthcare Providers), By Component (Software, Hardware, Services), By Product (Enterprise Based, Site Based), By Delivery Mode (Web, Cloud, On Premise), Industry Analysis Report, Regional Outlook (U.S., Canada), Application Potential, Competitive Market Share & Forecast, 2020 - 2026

Published Date: February 2020 | Publisher: Graphical Research Report ID: GR1276 | Delivery : PDF

Industry Trends

North America Clinical Trial Management System Market Share was valued at USD 575.8 million in 2019 and is expected to witness 14.2% CAGR from 2019 to 2026.

Get more details on this report - Request Free Sample PDF

Surging demand for advanced as well as innovative IT-based CTM (clinical trial management) solutions in order to enhance managerial control in various clinical trial processes will further accelerate the overall industry demand. Ability of clinical trial management systems to supervise complex protocol designs in clinical trials will increase its adoption during analysis period. Furthermore, several government attempts to invite multinational corporations for specifically directing clinical trials to attract foreign reserves will boost business growth.

Technological advancements to restrain the surging costs associated with clinical trials have further resulted in the development of clinical trial management systems. The increasing awareness to lower down the additional costs in clinical trials will accelerate the clinical trial management system market growth. Moreover, rising R&D investments specifically in the North America region is expected to boost the overall industry progression. However, high cost associated with clinical trial management system may hinder the business growth during forthcoming years.

North America Market Forecast, By Component

Services component segment held around USD 130 million revenue size in 2019. Contract research organization (CRO) and clinical trial system providers offer a wide range of clinical trial management system (CTMS) services that will accelerate the segmental progression. Wide range of CTMS services such as site monitoring, clinical project management, drug safety, quality assurance, payment services, data management and regulatory strategies among others, thereby, favours industry growth.

North America Market Share, By Product

Site-based clinical trial management system segment is forecasted to progress over 14.0% CAGR throughout the estimated timeline. Site-based systems offer several solutions in clinical studies including services in financial management and visit management as well as protocol management. Hence, above-mentioned factors prove beneficial for the segment market growth.

North America Market Size, By Delivery Mode

Cloud-based segment was valued over USD 110 million in 2019, owing to rapid adoption of cloud-based clinical trial management systems. The cloud based CTMS decreases the cost as well as accelerates the overall data quality. In addition, it studies speed through real-time monitoring of clinical trial progress that will augment the segmental progression.

 

North America Market Growth, By End-use

Pharmaceutical & biopharmaceutical companies’ segment will witness rapid growth of around 13.0% CAGR. The segmental expansion is attributable to surging adoption of CTMS for clinical studies in different new drug developmental processes. Additionally, investment in R&D by several other pharma & biotech industry will further drive segmental growth.

North America Market Trends, By Country

U.S. clinical trial management system market size recorded about USD 540 million revenue size in 2019. Increasing number of clinical trials along with rising funding for clinical research by NIH proves beneficial for the market growth. Various companies are focusing on R&D activities for developing efficient products, will further accelerate the demand for CTMS, thereby, fostering business growth.

Competitive Market Share

Some of the major industry players involved in the North America clinical trial management system market include DSG, Medidata Solutions, Forte, DataTrak, Bio-Optronics, Bioclinica, Oracle, MasterControl, MedNet Solutions, Merge Healthcare (IBM Watson Health), OmniComm Systems, Veeva Systems and PAREXEL International. Companies are adopting several strategies such as novel product launch and development to propel their market presence as well as expand their product offerings. For instance, in November 2017, Bio-Optronics partnered with Complion, a powerful eRegulatory and document management platform. This partnership was integrated to deliver an industry-leading solution to various research organizations.

Industry Background

The necessity for removing data incongruities between different systems to reduce data reconciliation activities led to the development of clinical trial management systems. The number of data duplication, as well as process redundancy, has widely surged that has further enhanced the demand for clinical trial management systems. Therefore, development of an integrated technology helped in improving usability, and thus enhanced the adoption of clinical trial management system over the past few years. Moreover, rising demand for such systems to improve productivity and minimize human resource will augment the overall clinical trial management system (CTMS) market growth.

Frequently Asked Question(FAQ) :

North America Clinical Trial Management System Market Share was valued at USD 575.8 million in 2019 and is expected to witness 14.2% CAGR from 2019 to 2026.
Surging demand for advanced as well as innovative IT-based CTM (clinical trial management) solutions in order to enhance managerial control in various clinical trial processes will further accelerate the overall industry demand. Ability of clinical trial management systems to supervise complex protocol designs in clinical trials will increase its adoption during analysis period. Furthermore, several government attempts to invite multinational corporations for specifically directing clinical trials to attract foreign reserves will boost business growth.
Some of the major industry players involved in the North America clinical trial management system market include DSG, Medidata Solutions, Forte, DataTrak, Bio-Optronics, Bioclinica, Oracle, MasterControl, MedNet Solutions, Merge Healthcare (IBM Watson Health), OmniComm Systems, Veeva Systems and PAREXEL International.

Select License

North America Clinical Trial Management System Market |2020 - 2026| Trends


Why Choose us?
  • On-Time Delivery - logo On-Time Delivery
  • Assured Quality - logo Assured Quality
  • Industry Experts - logo Industry Experts
  • Payment Security - logo Payment Security
Share Social-media