According to
a new analysis issued by Fact.MR, a market research and competitive
intelligence company, the worldwide clinical trial management systems market is
expected to reach US$ 1.3 billion in 2022 and increase at a 13.6% CAGR from
2022 to 2032. During the period 2017-2021, the market grew at a rate of
10.2% each year. Fact.MR predicts substantial market potential as the
usage of software grows.
Among the
significant developments in clinical trial management systems are the
software-based component and price and licencing flexibility. Because clinical
trials are becoming more complicated, pharmaceutical corporations choose to
outsource clinical trial implementation to contract organisations. Because of
rising digitization and internet penetration, the market value is expected to
exceed US$ 4.6 billion by 2032.
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Key Takeaways from Market Study
“Preference
for enterprise-based clinical trial management systems can be gauged by the
fact that this segment accounted for nearly three-fourth revenue share of the
market in 2020,” says a Fact.MR analyst.
Competitive Landscape
Majority of
companies are focused on expansions, investments, acquisitions, delivery,
portfolio expansion, and brand development. Key players also have a strong
position in the global market with a large set of customers, which springs them
with an edge over their competitors in the market.
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Key Segments Covered in Clinical Trial
Management System Industry Survey
By Mode of Deployment :
o Cloud-based
Clinical Trial Management Systems
o Web-based
Clinical Trial Management Systems
o On-premise
Clinical Trial Management Systems
By Component :
o Clinical
Trial Management System Hardware
o Clinical
Trial Management System Services
o Clinical
Trial Management System Software
By Product Type :
o Enterprise-based
Clinical Trial Management Systems
o Site-based
Clinical Trial Management Systems
By End User :
o Pharmaceuticals
o Clinical
Research Organizations (CROs)
o Healthcare
Providers
What Factors Influence Clinical Trial
Management System Revenue in the United States?
The United
States is expected to lead the North American clinical trial management systems
market in 2022, with a market share of more than 85%. The steady rise of
pharmaceutical firms, clinical research organisations, and healthcare
organisations, together with an increase in investments in technology
innovation, is assisting in the expansion of the US market.
Growing
R&D expenditure is likely to boost the regional market. According to
Pharmaceutical Research and Manufacturers of America, the biopharmaceutical
sector spent about USD 102 billion on research and development in 2018.
Furthermore, an increase in the number of research and clinical trials may
enhance the market in the near future. North America will most likely generate
33% of total income.
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What’s the Future of Clinical Trial
Management System Software?
Considering
the slew of advantages that clinical trial management systems have over
traditional systems, the future belongs to software in the component segment of
clinical trial management systems. Advancement in clinical trial management
systems has been undergoing since recently, and software based now account for
a majority share in the market.
The software
segment holds a market share of nearly 83% and is likely to experience a growth
rate of 13.9% CAGR through 2032.
| Company Name | Contact Person | Contact Number | Email Id | Website | Address |
|---|---|---|---|---|---|
| Fact.MR | Neha Bhosle | 6282511583 | neha.b@factmr.com | https://www.factmr.com | Rockville - Maryland, United States |
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