Clinical trial management market is continuing its tremendous growth rate over the foremost time span. It is estimated that the market will reach USD 1056 million by 2026 at a CAGR of 12.6% in the forecast period 2017 to 2026. Clinical trial management systems are used in the biotechnology field which is a software to manage trials in clinical laboratories. It performs specific tasks like managing and maintaining plans, report functions, and track deadlines. By providing data to a business intelligence system, this management provides a dashboard to the trial users which promotes the respective information.
- Growing research institutes in the biotechnology field are the major driving factor for the growth of the market. Increasing demand for the quality products in medicine to provide health benefits for the public is additionally fueling the demand of the market. Rise in the investments by private and public organizations is also prompting the demand of the market to the extent.
- However, the lack of skilled persons in the laboratories to analyze and monitor the data is quietly restraining the demand of the market. Frequent updates in the software are also inhibiting the growth of the market.
- Rising need for clinical trial management solutions and increasing customer-based solutions across the medical sector is leveraging growth opportunities for the market. Also, acceptance of advanced technology and the launch of various features to the system are creating chances for the market to grow.
Based on the delivery mode, the market is segmented into enterprise and site clinical trial management system. Enterprise segment is witnessed to have the highest shares of the market.
By end-user, the market is categorized into pharmaceutical and biopharmaceutical companies, contract research organizations and medical device companies. Pharmaceuticals and biopharmaceutical companies are accounted to have the highest CAGR from recent years.
Regional Analysis of the Global Clinical Trial Management Market
Geographically, the market is segmented into Asia Pacific, North America, Europe, Middle East and Africa. Asia Pacific is leading with the highest revenue shares of the market with the rise in the clinical trials and the growing number of research institutes across the region. North America is positioned second in dominating the shares of the market by owing to the quick adoption of the latest technology. Europe and Middle East & Africa are inclined to have a significant growth rate in the coming years.
Oracle Corporation (US); Medidata Solutions, Inc. (US); PAREXEL International Corporation, (US); Bioclinica, (US); Bio-Optronics, Inc. (US); and IBM (US) are some of the players involved in the clinical trial management market.
Clinical Trial Management Market Players
- Oracle Corporation
- Medidata Solutions, Inc.
- Merge Healthcare Incorporated
- ERT Clinical
- Bio-Optronics, Inc.
- Forte Research Systems, Inc.
- MedNet Solutions, Inc.,
- PAREXEL International Corporation
Clinical Trial Management Market - Key Segments:
- By Product
- Enterprise Clinical Trial Management
- Site Clinical Trial Management
- By Component
- By Mode of Delivery
- Cloud-based Clinical Trial Management
- Web-based Clinical Trial Management
- Licensed Enterprise Clinical Trial Management
- By End-User
- Medical Device Companies
- Contract Research Organizations
- Pharmaceutical & Biopharmaceutical Companies
- Academic Research Centers
- By Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
- South Africa
- Saudi Arabia
- Rest of World
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