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APAC Clinical Trial Management Systems Market size to hit $425.6 Mn by 2027
Published Date: 2021-10-14
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APAC Clinical Trial Management Systems Market size is poised to cross USD 425.6 million by 2027, according to a latest forecast report by Graphical Research.
The rising number of chronic diseases is the key driving factor for clinical trial management system growth in the Asia Pacific region. The era of digital technology has the potential to improve the healthcare system. Evolving healthcare IT industry will change the future of the clinical trial market.
The rising number of the clinical trial in the region is anticipated to drive the market size. Increasing incidences of cancer cases and the increasing spread of communicable diseases are predicted to encourage the market growth. However, the high cost of the software might restrict the industry growth.
The services segment to witness over 13.3% CAGR during the forecast period owing to the rising customer base in the region coupled with the availability of high participants.
The site-based CTMS segment is estimated to reach USD 117.7 million by 2027. Site-based solutions improve business relations, provide consistent processes, maintain workflow which might positively influence the market growth.
Browse detailed statistical insights from the report, “Asia Pacific Clinical Trial Management System Market Forecast 2027 By End-use (Pharmaceutical & Biopharmaceutical Companies, Clinical Research Organizations), By Component (Software, Services), By Product (Enterprise-based, Site-based), By Delivery Mode (Web, Cloud, On Premise), Research Report, Country Outlook (China, Japan, India, South Korea, Taiwan, Australia, Thailand, New Zealand, Singapore, Malaysia), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The web-based segment dominated over 59.8% revenue share in 2020. Web-based software provides centralization of data, and the data can be accessed through any location. Web-based solutions are beneficial when the study is conducted at the global level.
The clinical research organizations segment accounted more than 35.3% market share in 2020 attributed to the high venture capital investment, rising number of healthcare startups in the region, and rising government initiatives. CTMS software became very popular after the COVID-19 breakout and CROs adopted the new technology at a faster rate.
The Japan clinical trial management systems industry is expected to cross USD 91.7 million by 2027 due to the rising number of government initiatives. Japan is investing hugely in artificial intelligence, big data, and other IT healthcare settings. Also, companies provide AI computing power to manage the large clinical trial and analyze big data.
APAC CTMS market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Asia Pacific Market, By Component
Asia Pacific Market, By Product
Asia Pacific Market, By Delivery Mode
- On Premise-based
Asia Pacific Market, By End-use
- Pharmaceutical & Biopharmaceutical Companies
- Clinical Research Organizations
The above information has been provided for the following countries:
- Asia Pacific
- South Korea
- New Zealand