Clinical Trial Management Systems Market to Surpass US$ 1.7 Billion Threshold by 2025: CMI

GLOBAL CLINICAL TRIAL
MANAGEMENT SYSTEM MARKET
INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND
OPPORTUNITY ANALYSIS, 2017–2025
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REPORT DESCRIPTION
Clinical Trial Management System Market Overview
The Global Clinical Trial Management Systems Market was valued at US$ 323.4 million in
2015 and is projected to expand at a CAGR of 13.0% during the forecast period (2017–
2025), as highlighted in a new report published by Coherent Market
Insights. Pharmaceuticals manufacturers focusing on achieving first mover advantage, which
in turn is projected to support growth of the clinical trial management systems market over
the forecast period.
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Large pharmaceutical companies have various complex and parallel functions that need to
be carried out simultaneously and effectively, so as to ensure smooth functioning of all
services. Such large volumes of data need to be managed and analyzed effectively, a
function that is mainly outsourced to third-party organizations – a highly lucrative and
fledgling sector. This poses its own set of challenges, as clinical trials are conducted across
various geographic locations. Clinical trial management systems offer a highly effective
solution, which allows for recording and coordinated analysis of such data through a
common access point. It also helps reduce turnaround time and increases operational
efficiency, while drastically reducing human error. The above mentioned factors are
expected to support the growth in the clinical trial management market over the forecast
period.
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REPORT DESCRIPTION
Globally there are several healthcare IT companies who develop and modify the clinical trial
management software. There are several customized software to manage clinical trials data
according to client need and study protocol. According to the study conducted by the University
of Minnesota and University of Michigan by 2018, all the clinical trial conducting company will use
OnCore clinical trial management system as OnCore will provide the functional features such as
Clinical Research Management, Study Setup, eCRFs, Financials, Visit Tracking & Data Capture,
Study Data Management and Revenue Management. This is expected to be one of the crucial
factors favoring the gain in traction for clinical trial management market in the near future.
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There are various players in the market that are confined to their strategies and focused on
the same for the growth of their products and services to favor the increase in revenue for
their organization. Furthermore, the companies are equipped with various skilled employees
that are continuously working on the development and advancement of such products that
aligns to the need and requirement of the users. Since clinical trials are the critical process
and takes a long time, which involves bundle of data sets that are to be analyzed and results
are to be extracted from them.
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REPORT DESCRIPTION
Key takeaways of the market:
• The global clinical trial management systems market is expected to expand at a CAGR
of 13.0% during the forecast period (2016–2024). Globalization of research and
development are favoring demand for software component type segment that is
expected to favor the market for clinical trial management systems over the forecast
period.
• The cloud-based mode of delivery segment in the global clinical trial management
systems market was estimated to be the largest in 2015 and is expected to retain its
dominance in the market throughout the forecast period in terms of value
• In terms of end user segment, the pharmaceuticals & biotech firm is expected to
expand at a significant CAGR of 12.8% during the forecast period, owing to more
advanced in terms of infrastructural installations of medical systems
• The global clinical trial management systems market is characterized by Market
expansion in Asia Pacific, Africa, and Middle East could generate higher market
revenue due to the growing clinical research in the emerging economies
• Some of the major companies offering clinical trial management system market are
Oracle Corporation, Medidata Clinical Cloud, Veeva Systems, Infosys, Bio-Optronics,
BioClinica, and MedNet Solutions.
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 Healthcare IT Solutions Developers
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The Global Clinical Trial Management Systems Market was valued at US$ 323.4 million in 2015 and is projected to expand at a CAGR of 13.0% during the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Pharmaceuticals manufacturers focusing on achieving first mover advantage, which in turn is projected to support growth of the clinical trial management systems market over the forecast period.