North American Clinical Trial Management Systems Market size is predicted to reach USD 836.6 million by 2027, according to a latest forecast report by Graphical Research.
The clinical trial management system is software that eases the burden of the organization conducting clinical trials at the regional and global levels. Due to the COVID pandemic, fast-track clinical trials were conducted for the approval of the COVID vaccine and drugs. Moreover, increasing R&D funding, technological advancement, increasing awareness programs, and relaxation in government policies are anticipated to boost the market revenue.
Increasing R&D expenditure in life sciences is the major driving factor for the CTMS market growth. Many organizations and pharma companies are developing novel drugs and innovative medical solutions and the investment in the market is also heavily flowing. Additionally, software upgradation, innovative analytical tools, management tools will enable to address the customers growing needs.
The services segment to observe around 12.4% growth rate during the forecast period. CTMS providers offer a wide range of clinical trial management services such as clinical project management, site monitoring, quality assurance, payment services, site selection and drug safety.
Browse detailed statistical insights from the report, “North America Clinical Trial Management System Market Forecast 2027 By Product (Enterprise-based, Site-based), By Component (Software, Services), By Delivery Mode (Web, Cloud, On Premise), By End-use (Pharmaceutical & Biopharmaceutical Companies, Clinical Research Organizations), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The site-based segment dominated for USD 108.1 million revenue in 2020. Site-based solutions support consistent processes, improve business relations, manage work and across protocols might positively influence the market demand.
The web-based segment accounted over 58.7% of market share in 2020. Advantages associated with web-based solutions such as minimal technical issues and remote access to data. Also, web-based software provides centralization of data, that facilitates access to data from the desired location.
The clinical research organization segment is anticipated to witness 11.1% CAGR across the forecast timeframe. The increasing preference for outsourcing clinical trials to various clinical research organizations is set to fuel market growth.
The Canadian clinical trial management systems industry is expected to reach USD 48.2 million by 2027 attributable to high research investment and the increasing prevalence of chronic disease. Also, growing participants in clinical trials in the country will drive the demand for clinical trial management system solutions. Additionally, increasing the adoption of clinical trial management systems by hospitals, organizations, and others will play a pivotal role in the market expansion.
The North American 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:
North America Market, By Component
North America Market, By Product
North America Market, By Delivery Mode
- On Premise-based
North America Market, By End-use
- Pharmaceutical & Biopharmaceutical Companies
- Clinical Research Organizations
The above information has been provided for the following countries: