Clinical Trial Management Systems (CTMS) Market Size By Component (Software, Hardware, Services), By Product (Enterprise Based, Site Based), By Delivery Mode (Web, Cloud, On Premise), By End-use (Pharmaceutical & Biopharmaceutical Companies, Clinical Research Organizations [CROs], Healthcare Providers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Poland, Russia, China, India, Japan, South Korea, Taiwan, Brazil, Mexico, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

Industry Trends

Clinical Trial Management Systems Market size was valued over USD 860 million in 2016 and is expected to witness over 13% CAGR from 2017 to 2024.
 

India Clinical Trial Management Systems Market, By Delivery Mode, 2013 - 2024

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Rising R&D expenditure by public as well as private industry players coupled with growing number of clinical studies will drive the global CTMS market size. Funding from government associations such as National Institute of Health will promote clinical trials over the forecast period.
 

High cost involved with launch of new drugs along with extended timelines has fostered the need to improve operational efficiency of clinical trials. Increasing reliance of industry sponsors on advanced IT-based clinical trial management solutions to improve managerial control in clinical trials will boost CTMS market growth.
 

Outsourcing of clinical trials to contract research organizations offering quality of services will spur market size. However, prohibitive cost of clinical trial management systems will hinder industry growth over the forecast timeline.
 

Clinical Trial Management Systems Market, By Component

Software segment accounted for majority of market share in 2016 owing to advantages offered by these components to effectively manage clinical trials data generated by biotech and pharmaceutical companies. Moreover, availability of user-friendly software systems helps save time and accelerates new product launch. Such factors are anticipated to propel business growth.
 

Services segment will witness robust growth over the coming years owing to increasing adoption of clinical trial management systems by pharmaceutical companies and wide-range of services offered by the contract research organizations for managing clinical studies.
 

Clinical Trial Management Systems Market, By Delivery Mode

Web-based mode accounted for largest revenue share in 2016 and will witness robust growth in the future years owing to its user-friendly design and functional flexibility. Increasing productivity, faster data transfer and efficient management of clinical trials by these systems will further accelerate industry growth.
 

On-premise delivery mode of CTMS market will witness significant growth over the forecast period. They provide attractive solutions to many large pharma players and allows internal control of data privacy and data security. Rising concerns pertaining to data privacy and will spur the demand for on-premise clinical trial management systems.
 

Clinical Trial Management Systems Market, By Product

Enterprise based CTMS accounted for majority of revenue share in 2016 and is estimated to follow similar trend over the forecast period. Advantages offered by these systems include faster access to subject data, data capture and exchange, patient recruitment, and improved protocol design will stimulate industry growth.
 

Site based solutions will grow at a rapid rate over the coming years. Rising usage of such systems to small site or site network enabling effective financial management, subject and visit management, as well as protocol management will foster market growth.

Clinical Trial Management Systems Market, By End-use

Pharmaceutical and biopharmaceutical companies held the largest revenue share in 2016 and is expected to witness a similar trend in the future. This growth is attributed to increasing adoption of clinical trial management systems for new drugs clinical trials. Growing demand for clinical trial solutions to track clinical studies’ progress and take quick and effective decisions will foster segment growth.
 

Healthcare providers will witness significant growth in the future owing to increasing adoption of CTMS to monitor and keep a record of procedures, medicine and therapies used for treating patients with chronic conditions.
 

Clinical Trial Management Systems (CTMS) Market, By Region

U.S. will dominate the overall CTMS market in 2016 due to rising demand for managing large amount of clinical trial data by trial managers. Rising number of clinical trials coupled with increasing funding for clinical trials by various associations including NIH will foster demand for CTMS in the future. Furthermore, presence of leading enterprise technology provider such as Oracle offering advanced trial management cloud solutions will escalate regional growth U.S. CTMS market.
 

UK CTMS market will witness considerable growth over the forecast timeframe. Favourable government initiatives along with increasing investments for clinical trials by National Institute for Health Research (NIHR) should strongly drive business growth.
 

Japan CTMS market will drive Asia Pacific regional growth owing to presence of CROs along with increasing efforts by leading service providers offering advanced solutions in the country. Presence of over 30 contract research organizations (CRO) supporting foreign players to conduct clinical trials in the country will accelerate demand for clinical trial management solutions in the future.
 

South Korea CTMS market will witness significant growth due to strong government support to promote conduct of clinical trials by international companies in the country. Favourable demographics, streamlined regulatory process, increasing R&D expenditure, large volumes of daily patient traffic are other factors augmenting industry size.
 

Competitive Market Share

Some of the major players of global CTMS market are Oracle Corporation, DATATRAK International, Merge Healthcare (IBM Watson), MedNet Solutions, Parexel International Corp., Forte Research Systems, Medidata Solutions and Omnicomm Systems. The industry players are focused on developing novel products to gain competitive advantage. In addition, strategic collaborations and acquisitions are other major strategies adopted by these players to maintain market foothold.
 

Clinical Trial Management Systems Industry Background
 

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Clinical trial management systems are used by trial managers for managing large amount of clinical trial data. This includes management of patient data, billing, budgeting, trial protocol, regulatory forms and research that poses a major challenge and thus fuels the need for software systems improving efficiency and productivity. Increasing number of clinical trials conducted across the globe by pharmaceutical and biotechnology industries will spur demand for advanced technology software systems. Increasing investment by government and pharma companies for clinical research will further foster industry growth. The clinical trial management systems industry is anticipated to witness tremendous growth in the future due to rising trend of outsourcing clinical trials to emerging countries such as India, South Korea, China and Taiwan.

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