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Clinical Trial Management System Market By Overview, Global Key Players, Industry Outlook, Trends, F
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Market - Overview
Clinical trial management system is those which maintain and record the information and data which is used to track the clinical trials. Information extracted during clinical trials are vast and highly complex and they need to be routinely processed through multiple regression, simulation and other models. To maintain the information scientists and industry players are working towards the development of management and maintenance of this data. The market for clinical trial management system is booming due to increasing demand for the management of the clinical trial data collected at the time of clinical research and track the milestones for the further studies for the biotechnology and pharmaceutical companies to make advanced and improved products for the patients.
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Some of the key functions of clinical trial management system includes cataloging the history of the clinical trials associated with the organizations and individuals, site management, subject tracking among others. On the basis of type of clinical trial management system, they are segmented into standard clinical trial management system, CTMS accelerator and customized clinical trial management system. Standard clinical trial management system is Out-of-the-box system without organization-specific customizations while clinical trial management system accelerator are pre-configured version of a standard clinical trial management system that includes requested configurations and enhanced functionality for clinical trials data management. They can satisfy many of the organization’s key requirements without additional development and the customized clinical trial management system are those which includes standard or accelerator system that is tailored to organization specific configurations.
These are commonly used by pharmaceutical and biotechnology companies, contract research organizations and medical device companies among others.
Further, clinical trial management system exceeds organizational boundaries, improves interoperability, and addresses evolving regulatory standards of the company. It enables the oversight of related clinical trials according to the therapeutic areas based on a specific clinical trials activity and track the progress of the particular trial at specific level. Clinical trial management system provide data to intelligence business system which acts as digital dashboard for clinical trial managers.
The increasing number of healthcare service providers and new advances such as cloud based clinical trial information delivery systems has accelerated the adoption rate of clinical trial management system. Furthermore, increasing chronic diseases has boosted in the clinical research of drugs and devices for providing new and improved products that has derived the market for clinical trial management system.
Among the type; standard clinical trial management system, CTMS accelerator, customized CTMS and others are compositing the growth of the market. It is projected to grow at a steady pace from the period of 2013 to 2022.
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PAREXEL International Corporation, Wipro Limited (India), GCP-Service International Ltd. & Co. KG (Germany), Oracle (US), Bioclinica, Covance Inc., eclipse, KINAPSE LTD (UK), Intrinsic Clinical Systems (UK), Acceliant (US), Clinical Systems Ltd, SGS SA (Switzerland), Telerx (US), McKesson Corporation, HCL Technologies Limited, Adaptive-Clinical and others are some of the major players operating in the global clinical trial management system market.
The global clinical trial management system market research has been segmented on the basis of type, delivery model, component, and end-user.
On the basis of type, the market has been classified as an enterprise clinical trial management system and site clinical trial management system.
On the basis of delivery model, the market has been classified as web-based (Hosted CTMS), licensed enterprise and cloud-based CTMS.
On the basis of component, the market has been classified as software and service.
On the basis of end-user, the market has been classified as medical device manufacturers, pharmaceutical and biopharmaceutical companies, contract research organizations, and others.
On the basis of region, the market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The global clinical trial management system market has been evaluated as a growing market and it is expected that the market will touch high growth figures in future. Factors such the growing prevalence of chronic diseases and increasing advancement in clinical trial management will drive the growth of global the clinical trial management system market.
Depending on geographic region, clinical trial management system market is segmented into four key regions: North America, Europe, Asia Pacific, and Middle East & Africa. Globally, North America is the largest market for clinical trial management system as they deploy the most advanced healthcare technologies and increasing demand for the reliable and cost-effective products. Europe is the second-largest market for clinical trial management system. Asia Pacific region is expected to be fastest growing region in clinical trial management system market due to increasing healthcare expenditure.
Although, these countries markets are expected to be mature, the industry is likely to find stagnant growth for this market after few years. Increasing determination to provide best-in-class healthcare services with improvement in products and services will enhance the growth of this market. On the other hand, Asia Pacific region will be with China, India, Japan, Republic of Korea, Australia and others its forefront will lead the market further to next 7 years and will continue with this trend through the forecast period.
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