The limiting factors related to this market are that the clinical trial management software are vulnerable to several types of malicious attacks on the security and the required infrastructure demands constant IT support and replacement of hardware.

For appropriate understanding of this market, the report scope includes the types segment which is categorized as enterprise and site. Delivery modes include web-based, cloud based and on-premise clinical trial management systems. The components segments are classified as software and services. Market size and forecast for the segments are provided for the duration of the report 2019-2029.

Proper importance has been given to understand the competitive environment currently existing among the key players with a pictorial illustration of competitive landscape. The scope of the report has also taken into consideration those major players that have a stronghold in the global clinical trial management systems. The major players in global clinical trial management systems market are Bio-Optronics, Inc., Merge Healthcare Incorporated, Bioclinica, DSG, Inc., Forte Research Systems, Inc., eClinForce, Inc., Medidata Solutions, Inc., MedNet Solutions, Inc., Oracle Corporation and PAREXEL International Corporation.

The global clinical trial management systems market is driven by key factors such as rising number of research and development activites in the healthcare segment, and burgeoning requirement for the launch of novel drugs resulting in rising number of clinical trials. Major players involved in the designing of clinical trial management systems are constantly striving to overcome CTMS anomalies such as device software being exposed to several malicious attacks and low data storage capacity of the clinical trial management systems. Enterprise segment showcases tremendous growth due to key drivers such as rising adoption of enterprise clinical trial management systems by pharmaceutical, biotechnology and medical device industries. In addition rising number of strategic collaborations between major healthcare players and research institutes, and increasing outsourcing of the research activities will have a good influence on the market growth of CTMS. On site clinical trial management systems segment are expected to demonstrate promising growth and will be the fastest growing segment. Factors such as efficient support in day-to-day research activites related to feasibility studies and improving nature of CTMS by providing technical expertise of biostatisticians and database administrators drive the growth of this segment. The major players in clinical trial management systems market are Bio-Optronics, Inc., Bioclinica, DSG, Inc., eClinForce, Inc., Forte Research Systems, Inc., Medidata Solutions, Inc., MedNet Solutions, Inc., Merge Healthcare Incorporated, Oracle Corporation and PAREXEL International Corporation.

At present, software segment holds the largest market share due to key drivers such as increasing volume of research data in the later phases of clinical trials that have a greater degree of complexity. This has resulted in greater demand for more comprehensive software. Technological advancement in the software segment where software relating to research activities are integrated with healthcare mobile apps giving leverage to the investigators to manage, deploy and streamline clinical data will thereby have a strong influence on the market growth of CTMS. Services promises good sales due to factors such as the burgeoning requirement of services from the healthcare segment such as mapping core areas in clinical research for project management. In addition the site and trial planning and managing useful information such as protocol visit frequency and case report forms drives the CTMS market. In addition, CTMS provide crucial services such as studying grants and management of financial disclosure to determine the ownership of the clinical research funding.

Clinical trial management systems is very useful as it provides refined research data to a business intelligence system and functions as a digital dashboard for the operator. CTMS has tremendous potential in dealing with research data as it is helping in managing and streamlining research data and also aids in tracking deadlines and milestones. On-premise delivery mode dominates the market due to factors such as increasing adoption by the major players in the healthcare domain as it facilitates immediate access to research data as it is a well maintained IT infrastructure with maximum IT security and support. Cloud-based delivery mode is anticipated to be the fastest growing market due to its large storage capacity, allows the consumers to gain immediate access to vital research data and less maintenance cost incurred.

North America was observed to be the largest clinical trial management systems market in the base year 2019. Dominance of North America is mainly attributed to the presence of key drivers such as rising prevalence of chronic diseases, increasing public health awareness and presence of major players pioneering in creation of clinical trial management systems. The market growth in Europe is mainly attributed to increase in research and development activities in the healthcare sector and memorandum of understanding between government health agencies and research institutes for launch of novel drug molecules. Asia Pacific has steady growth as a result of increasing outsourcing of research activities and existence of well-developed IT industry actively involved in providing software and services for the clinical trial management. Moreover, factors such as increasing enrollment of patients for clinical trials and regional government health agencies actively involved in sponsoring research for pipeline molecules are going to fuel the rapid growth of clinical trial management systems market in Latin America, and Middle East and Africa in the near future.  

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Clinical Trial Management Systems market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Clinical Trial Management Systems market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Clinical Trial Management Systems market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Clinical Trial Management Systems market?
• Which is the largest regional market for Clinical Trial Management Systems market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Clinical Trial Management Systems market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Clinical Trial Management Systems market worldwide?