Avant-Garde Technologies to Help in Blossoming of Clinical Trial Management Systems Market, North America set to Acquire Extensive Market Share, Opines TMR

- Increasing research and development activities across life science, pharmaceutical, and clinical research industries may prove to be a great growth generator for the market

- The global clinical trial management systems market is prophesied to expand at CAGR of 10.5% across the forecast period of 2019-2027 on the back of novel therapy developments

News provided by

Transparency Market Research

Jul 20, 2020, 10:30 ET

ALBANY, New York, July 20, 2020 /PRNewswire/ -- The clinical trial management systems market may expand on the back of the ubiquitous demand for novel therapeutic products across the pharmaceutical and biotechnology sector. In addition, the strengthening web of increased chronic disease-related caseload is serving as an opportunity for the clinical trial management systems market to record a good growth rate.

According to the expert analysis by Transparency Market Research (TMR), the global clinical trial management systems market is anticipated to expand at a CAGR of 10.5% across the forecast period of 2019-2027. The global clinical trial management systems market was valued at US$ 1.4 bn in 2018.

The integration of cutting-edge technologies such as artificial intelligence (AI) and cloud computing may serve as a bridge of success toward growth for the clinical trial management systems market across the forecast period of 2019-2027. In addition, the potential of the clinical trial management systems to handle complex protocols in clinical trials may bring extensive growth for the clinical trial management systems market across the forecast period.

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Clinical Trial Management Systems Market: Key Findings

Research and development activities to take a front seat across the forecast period
The cloud-based clinical trial management system may serve as a prominent growth accelerator for the global clinical trial management systems market across 2019-2027
The on-premise clinical trial management system is also expected to record a leading market share throughout the forecast period
In the context of component, the software segment is predicted to hold an important share of clinical trial management systems market; it also acquired a major market share in 2018
The enterprise-based segment may observe a healthy CAGR across from 2019 to 2027
Pharmaceutical segment is expected to hold a prominent position among the end-user segments
North America may bag the title of the key growth contributing region

Explore 241 pages of in-depth research, incisive insights, and detailed country-level projections. Analyze and discover the latest developments in the Clinical Trial Management System Market (Mode of Delivery - On-premise, Web-based, Cloud-based; Component- Software, Hardware, Services; Type - Enterprise-based, Site-based; End use - Pharmaceutical Industries, Contract Research Organizations, Health Care Providers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027 at https://www.transparencymarketresearch.com/report-toc/544

Clinical Trial Management Systems Market: Growth Boosters

The clinical trial management systems market will observe growth based on the productivity-enhancing capabilities and the efficacy quotient recorded across various clinical trials.

Technological advancements through intensive research and development activities are bringing extensive growth opportunities for manufacturers in the clinical trial management systems market
Large-scale investments by biotech and pharma companies with the support of the government are proving to be a major growth generator for the clinical trial management systems market
Developments in software for efficient clinical trial data management may have a positive influence on the growth of the clinical trial management systems market
Mergers, acquisitions, and partnerships may serve as robust growth pillars for the clinical trial management systems market

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How can COVID-19 Outbreak Influence Growth of Clinical Trial Management Systems Market?

The COVID-19 pandemic has bruised many aspects be it personal, financial, or mental. The need for an effective vaccine is being echoed across the world. Many scientists, researchers, and manufacturers have united to create a promising vaccine for COVID-19. Clinical trials are ongoing in several countries for potential COVID-19 vaccines. For efficient clinical trial procedures, the demand for clinical trial management systems has skyrocketed greatly. This factor may help the clinical trial management systems market to climb the ladder of growth at a rapid pace. Collaborations for developing efficient clinical trial management systems arealso gaining considerable momentum.

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Global Clinical Trials Management System Market: Segmentation

By Mode of Delivery

Cloud-based
On-premise
Web-based

By Component

Hardware
Services
Software

By Type

Enterprise-based
Site-based

By End-user

Pharmaceutical Industries
Contract Research Organizations (CRO)
Health Care Providers

By Region

North America
Europe
Asia Pacific
Rest of the World (RoW)

Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:

Life Sciences BPO Market: The life sciences BPO market is estimated to grow at a favorable CAGR of ~8% during the forecast period. Companies in the market landscape are increasing their efficiency to develop analytical platforms that offer best-in-class clinical data oversight and actionable insights for faster decision making.

Healthcare Contract Research Outsourcing Market: The global healthcare contract research outsourcing market is rising with increasing complex regulatory process & growing regulatory burden. The global healthcare contract research outsourcing market was valued over US$ 30 Bn in 2016 and is projected to witness cumulative annual growth rate (CAGR) of over 6% from 2017 to 2025 to surpass the value of US$ 54 Bn by 2025.

Regulatory Affairs Outsourcing Market: Recent findings by Transparency Market Research state that the global regulatory affairs outsourcing market will exhibit a healthy 10.1% CAGR from 2017 to 2023. As a result, the market, which had a valuation of US$3,234.4 million in 2017 will rise to US$5,746.5 million by 2023.

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