DUBLIN--(BUSINESS WIRE)--The "Clinical Trial Management Systems (CTMS) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis and the looming economic recession, the Clinical Trial Management Systems (CTMS) market worldwide will grow by a projected US$875.4 Million, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 11.9%. Enterprise CTMS, one of the segments analyzed and sized in this study, is forecast to grow at over 12.8% and reach a market size of US$1.1 Billion by the end of the analysis period.
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Enterprise CTMS market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 13.3% CAGR. Within Europe, Germany will add over US$32.4 Million to the region's size over the next 7 to 8 years. In addition, over US$39.5 Million worth of projected demand in the region will come from Rest of European markets. In Japan, the Enterprise CTMS segment will reach a market size of US$66.3 Million by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Clinical Trial Management Systems (CTMS) market.
Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 12.2% over the next couple of years and add approximately US$127.2 Million in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Clinical Trial Management Systems (CTMS) market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others,
- ArisGlobal LLC
- BioClinica Inc.
- Bio-Optronics Inc.
- DSG Inc.
- eResearch Technology Inc.
- IBM Watson Health
- Medidata Solutions
- MedNet Solutions
- Nextrials Inc.
- Oracle Corp.
- PAREXEL International Corp.
- Trial By Fire Solutions LLC
Veeva Systems Inc.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Clinical Trial Management Systems (CTMS) Gain Ground
- Recent Market Activity
- Benefits Offered by CTMS
- Global Market Overview
- Clinical Trial Management Systems Market to Post Explosive Growth
- Web-based Systems Dominate, Cloud-Based to Witness Fastest Growth
- Key Players in the CTMS Market
- Developed Countries Rule the Market
- Pharmaceutical Firms and CROs to Drive Adoption Rate
- Noteworthy Transformations in the Global Clinical Trial Sector
- Global Competitor Market Shares
- Clinical Trial Management Systems (CTMS) Competitor Market Share Scenario Worldwide (in %): 2018 & 2029
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Surging Global Population Offers Increased Growth Opportunities
- Increased Spend on R&D - An Important Growth Driver
- CROs - The Targeted Customers for CTMS
- Outsourcing of R&D Projects to Propel CRO Market, Drives CTMS Demand
- CROs Adept with New Technologies to See More Business in Future
- Rise in Clinical Trial Complexities Propels CTMS Demand
- Pharmaceutical & Biopharmaceutical Trends to Support CTMS Demand
- Adoption of Digital Technologies Gains Pace
- Clinical Trial Operators Demand Efficient Data Management Platforms
- DLB System's Solution with Data Management Tools
- Systems Integration Becomes Imperative
- Technological Innovations Drive Market Growth
- MC10 Introduces BioStampRC System to Capture Clinical Trial Data
- UF Health Cancer Center Unveils OnCore Clinical Trials Management System
UAB Unveils Innovative Technology to Streamline Clinical Trial Management Solution
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
Total Companies Profiled: 62
For more information about this report visit https://www.researchandmarkets.com/r/wg353t