Based on component, the market for clinical trial management system is classified into software and services. The software segment accounted for USD 897.3 million revenue in 2021 and is expected to dominate from 2022 to 2030 due to its high utilization and increased adoption in clinical trials. Various biotechnology, pharmaceutical companies and other life science organizations promoting research constantly conduct complex clinical trials. These trials are aimed at discovering novel medicines and medical devices.
With the increasing clinical trials activity and multi-site clinical trials gaining momentum, a need for effective tools to manage the studies with ease, maintain data with accuracy and manage the operational aspects of clinical studies also increases. Using software-based tools enables the sponsors to manage clinical trials efficiently.
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The market for clinical trial management system is segmented by product into enterprise-based and site-based. The enterprise-based market segment is expected to witness a lucrative CAGR of 11.4% between 2022 and 2030. Enterprise based clinical trial management system is versatile and can be customized as per requirements. Such clinical trial management system feature functionalities related to documents, worksheets, calendars, schedules, contacts, payments, milestones etc. Enterprise based clinical trial management system solutions are also noted to be scalable to cater to the requirements of small, medium, and large-scale organizations. Therefore, the enterprise-based clinical trial management system market is expected to witness a significant demand throughout the forecast period
Based on delivery mode, the clinical trial management system market value is segmented into web based, cloud based and on-premises. Web based segment dominated the global market accounting for over 59% market proportion in 2021 and is expected to witness lucrative growth over the forecast period. The web-based is highly effective, due to the ability of being adopted for diverse study designs and having multiple functionalities.
The clinical trial management system market share is segmented on the basis of end-use into pharmaceutical and biopharmaceutical companies and clinical research organization, among others. The pharmaceutical and biopharmaceutical companies are expected to register a healthy growth rate of 10.6% over the forecast period. The increasing demand for developing novel products for chronic illnesses as well as innovative medical devices compels the manufacturers/sponsors to significantly invest in research & development activities, including drug discovery and clinical trials.
Further, with an increasing number of novel diseases, such as coronavirus, spreading across geographies further propels the demand for developing targeted diagnostic devices as well as vaccines and related medications. Additionally, the increasing competition among large-scale pharma companies also emphasizes on novel product development to enhance the product portfolios
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North America clinical trial management system market is anticipated to surpass USD 1.5 billion by 2030. The rising clinical trial activity in North America coupled with higher cost of clinical operations in the region as compared to countries of Asia Pacific and Latin America are some of the prime factors for the regional dominance in the global CTMS market.
For instance, according to the WHO International Clinical Trials Registry Platform (ICTRP), between 1999 and 2021, the U.S. reported the highest number of clinical trials. It is evident that major pharma and biotech companies in the region heavily invest in research activities and are competing to discover and develop innovative medicines with greater efficacy. Also, well defined government regulations and support to the pharmaceutical industry is expected to encourage the clinical trials. These factors, coupled with a significantly high adoption rate for integrating digital solutions throughout clinical trials leads to an increasing employment of CTMS. CTMS also enables to organize & evaluate the clinical study data for regulatory submissions.