Every year the life science industry sees an increase in the number of clinical studies worldwide. The increase in the number of clinical trials being conducted may be due to factors such as the rapidly increasing number of geriatric trials in developed and emerging regions, the increasing incidence of chronic diseases, the phasing out of breakthrough drugs, the lack of government funding for clinical trials, and other harder factors Competition among others in the pharmaceutical industry. As of December 2017, 260,848 clinical studies were registered worldwide.
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Market participants have implemented a number of growth strategies such as: B. Product launches, strategic acquisitions, alliances, partnerships, collaborations and expansions in order to improve your product portfolio and maintain a competitive position in the market for management systems for clinical trials. Among these business strategies, product improvements, agreements, and alliances were the growth strategy most widely shared by participants in the industry. On the other hand, long approval times and high clinical trial costs, difficulty in recruiting and registering patients for clinical trials are certain areas of concern in the market. However, high clinical trial costs can critically impact the overall clinical trial management systems market.
Oracle (USA) is a major player in the CTMS business. Because of its diverse geographic reach and large customer base, strong brand identity, selective acquisition program and partnerships, the company is recognized as one of the top players in the clinical trial management systems market. The company offers a cloud-based management system for clinical studies. The company has a large regional reach in over 175 countries. The company is mainly focused on expansions and acquisitions to improve its dominant position. With the introduction of the modern infrastructure as a service (IaaS) architecture and the platform as a service (PaaS) architecture, the Oracle Cloud EU area was opened in Germany in 2017.
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The detailed research study provides a qualitative and quantitative analysis of the global clinical trial management systems market. The geographic analysis performed focuses on each of the major countries in North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Main findings of the report:
- The on-premise deployment type had the largest share in 2018 and is expected to continue the same trend over the forecast period. On the other hand, cloud-based is expected to have the highest CAGR in the forecast period due to its cost-effective features.
- In terms of components, the hardware segment held the largest share in 2018. The Services segment is expected to see the highest growth due to the increasing number of maintenance, provisioning, and installation services being adopted by both small and medium-sized businesses and large companies.
- In terms of revenue, contract research organizations are expected to grow in 2019 due to the increasing number of clinical trial outsourcing numbers by pharmaceutical companies due to easy availability with the highest CAGR of 16.3%.
- Major industry players active in the Clinical Trial Management Systems market include Bio Clinica, Medidata Solutions, DataTrak Internationals, Bio-Optronics, Merge Healthcare (IBM Watson), DSG, Forte Research Systems, MedNet Solutions, Omnicomm Systems, Oracle and MasterControl, Parexel Informatics and Veeva Systems. Industry players implement strategies, including partnerships, mergers and acquisitions, to help them maintain their market positions.
- Medidata Solutions, Inc. (USA) is another major player in the clinical trial management systems market. The company is one of the leading providers of cloud technology (Software-as-a-Service) and has established relationships with CROs and pharmaceutical companies. Medidata is available in over 130 countries worldwide with a customer base of over 800 customers.
- Some of the key market developments in the Clinical Trial Management Systems Market in 2017 are: MedNet Solutions has released the latest version of iMedNet with advanced features. Medidata Solutions and Karyopharm Therapeutics have worked together to combine and expand their solutions, namely CTMS and regulatory solutions
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Management systems for clinical studies market
- By component type
- According to delivery mode
- By product
- Company based
- Site Based
- According to geography
- North America
- Rest of north america
- The United Kingdom
- Nordic countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- South East Asia
- Rest of Southeast Asia
- Rest of the Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East and Africa
- Latin America
- Rest of Latin America
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