Clinical Trials Management System Market: Current Analysis and Forecast (2022-2030)

Clinical Trials Management System Market: Current Analysis and Forecast (2022-2030)

A clinical trials management system (CTMS) allows researchers and trial coordinators to manage data, resources, and processes involved in clinical trials efficiently. It enables the tracking of patient enrolment, scheduling, and visits, as well as the monitoring of study progress and the collection, management, and analysis of trial data. CTMS also helps ensure compliance with regulatory requirements and guidelines, including those set forth by the Food and Drug Administration (FDA) and the International Conference on Harmonization (ICH). Furthermore, the market is driven by various factors such as the increasing number of clinical trials, rising demand for effective data management systems, and advancements in healthcare IT. For instance, as per the WHO, around 65,409 clinical trials were conducted in 2020 across the globe.

The clinical trials management system market is expected to grow at a steady rate of around 14% owing to the use of CTMS helps in reducing the cost and time required for clinical trials, which is a major factor driving the adoption of CTMS by pharmaceutical companies and contract research organizations (CROs). Moreover, the growing demand for cloud-based CTMS and various government initiatives, such as the 21st Century Cures Act in the United States, which aims to accelerate the drug approval process, are driving the adoption of CTMS.

• Based on type, the market is segmented into enterprise-based and site-based. Amongst them, the enterprise-based category is to witness higher CAGR during the forecast period owing to the rapidly growing technological advancement that can be observed throughout the healthcare sector. In order to meet the requirements of potential customers, a number of organizations are taking steps to improve the facilities and quality of the healthcare industry.
• On the basis of delivery mode, the market is categorized into web-based CTMS, on-premises, and cloud-based. Among these, the web-based CTMS category is expected to dominate the market during the forecast period. This is mainly due to the rise in the number of clinical trials, remote access to data, fewer technical issues, and the demand for web-based CTMS. Web-based clinical preliminary administration frameworks (CTMS) have several benefits such as it upgrades the quality and efficiency of clinical preliminaries and giving better using time productively, and simple entry.
• Based on component, the clinical trials management system market has been classified into software and services. The software category is to witness higher adoption of clinical trial management systems during the forecast period owing to the increasing patient data, and growth in the SKUs is expected to drive the growth of this segment of the pharmaceutical management system.
• Based on end-users, the clinical trials management system market has been classified into pharmaceutical & biopharmaceutical companies, clinical research organizations, and healthcare providers. The pharmaceutical & biopharmaceutical companies category is to witness higher adoption of clinical trial management systems during the forecast period. This is mainly due to the development of pharmaceutical & biopharmaceutical companies, government initiatives, and rising partnerships or collaboration between key players will boost the growth of the market. For instance, Veeva Systems deployed its suite of clinical trial management systems, including the Veeva Vault CTMS, in partnership with approx 40 CROs in October 2022. additionally, the company reported rapid growth during the pandemic, as virtual or half-breed clinical preliminaries became essential.
• For a better understanding of the market adoption of the clinical trials management system industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period owing to the rising adoption of technology, growing R&D, and the availability of major market players in the region. Also, there are some other factors that drive the growth of the market such as favorable regulatory policies and increasing investment by pharmaceutical companies, the growing number of clinical trials, and government funding for research studies. For instance, according to the WHO International Clinical Trials Registry Platform, around 10,870 clinical trials were registered in the U.S. in 2021.
• Some of the major players operating in the market include IQVIA Inc.; Dassault Systèmes; Oracle; Datatrak Int.; Clario; SimpleTrials; Calyx; RealTime Software Solutions, LLC; Laboratory Corporation of America® Holdings; and PHARMASEAL.