Clinical trial management system (CTMS) market size to increase by USD 1,449.16 million between 2022 and 2027; Growth driven by increasing healthcare expenditure

NEW YORK, March 10, 2023 /PRNewswire/ — The clinical trial management system (CTMS) market size is forecast to grow by USD 1,449.16 million between 2022 and 2027, and the growth momentum will accelerate at a CAGR of 12.81% during the forecast period. The growth of the market is driven by a rise in healthcare expenditure. The increasing prevalence of chronic diseases and rising disposable incomes have increased healthcare expenditure globally. Besides, rising awareness of early diagnosis and the need for timely medical support have made people more health conscious. This has led to an increase in spending on healthcare. All these factors are driving the growth of the global clinical trial management system market. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) – Request a report sample

Regional Analysis

By region, the global clinical trial management system (CTMS) market is segmented into North America, Europe, Asia, and Rest of World (ROW). North America will account for 44% of market growth during the forecast period. The region is home to a high number of pharmaceutical and biotechnology companies and contract research organizations (CROs). In addition, the increasing prevalence of chronic diseases and the rising number of clinical trials are driving the growth of the clinical trial management system (CTMS) market in North America.

Vendor Landscape

The clinical trial management system (CTMS) market is fragmented due to the presence of diverse regional and international vendors. Regional vendors face stiff competition from international players in terms of quality, price, market reach, and financial resources. During the forecast period, the competition in the market is expected to intensify with an increase in product innovations, product and service extensions, and mergers and acquisitions.

The report includes information on the key products and recent developments of leading vendors, including ArisGlobal LLC, eResearchTechnology GmbH, Advarra Inc., Dassault Systemes SE, DATATRAK International Inc., International Business Machines Corp., Medpace Holdings Inc., Oracle Corp., Parexel International Corp., Veeva Systems Inc., Laboratory Corp. of America Holdings, DSG Inc., MasterControl Inc., Wipro Ltd., MedNet, Medfiles USA, Crucial Data Solutions Inc., Ennov SAS, RealTime Software Solutions LLC, and PHARMASEAL.

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Market Dynamics

The growth of the market is driven by factors such as increasing healthcare expenditure, rise in clinical trials for drugs, and the increased adoption of CTMS. However, the rising cost of clinical trials will hinder the growth of the market.

Competitive Analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share among others. Request a Sample

Market Segmentation

• By deployment, the market is segmented into on-premise and cloud.

• By end-user, the market is segmented into pharmaceutical and biotechnology companies, CROs, and others.

• By geography, the market is segmented into North America, Europe, Asia, and Rest of World (ROW).

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What are the key data covered in this clinical trial management system (CTMS) market report?

• CAGR of the market during the forecast period.

• Detailed information on factors that will drive the growth of the market between 2023 and 2027

• Precise estimation of the size of the clinical trial management system (CTMS) market and its contribution to the parent market.

• Accurate predictions about upcoming trends and changes in consumer behavior.

• Growth of the market across North America, Europe, Asia, and Rest of World (ROW).

• A thorough analysis of the market’s competitive landscape and detailed information about vendors.

• Comprehensive analysis of factors that will challenge the growth of clinical trial management system (CTMS) market vendors.

Browse through Technavio’s Health Care Market Reports

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Deployment

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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