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Clinical Trial Management System Market

Clinical Trial Management System Market Size, Share & Segment by Deployment type (Enterprise-wide CTMS, On-Site CTMS), By Delivery Type (Web-based (On-demand), Licensed Enterprise (On-premises), Cloud-based (SaaS)), By Product & Service (Software, Services), By End User (Large Pharma-biotech Companies, CROs, Medical Device Manufacturers, Small & Mid-sized Pharma-biotech Companies), by Regions and Global Forecast 2022-2028

Report Id: SNS/HC/1901 | June 2022 | Region: Global | 125 Pages

Report Scope & Overview:

The Clinical Trial Management System Market Size was valued at USD 1.10 billion in 2021, and expected to reach USD 2.76 billion by 2028, and grow at a CAGR of 14% over the forecast period 2022-2028.

The Clinical Trial Management System (CTMS) is a customized software system for handling clinical trial data supplied by various pharmaceutical corporations and clinical research institutions. The management system facilitates the tracking and monitoring of patients enrolled in clinical trials, as well as the analysis of large volumes of data that aids in the determination of product safety considerations. This CTMS software acts as a centralized, web-based enterprise resource for clinical research projects across several institutions. The program is regarded as a must-have set of tools for efficiently planning, managing, and tracking a clinical research portfolio.

Clinical Trial Management System Market

Access to more exact, up-to-date study information is one of the CTMS's advantages. This overcomes the difficulties of extracting high-level information such as site rosters, as well as more granular information like startup tracking and site visit schedules. Collaboration is also the second most significant aspect that facilitates collaboration amongst teams, sponsors, CROs, and sites. CROs, sites, sponsors, and other vendors work together to distribute updates and tracking information in a convincing manner.

Furthermore, the particular productivity tool's effectiveness aids the firm efficiently. For example, the "authoring" feature of the electronic visit report can integrate the information automatically. Furthermore, the CTMS allows for the examination of study management components such as site visits, screening & enrollment, document collecting, study startup, subject visit completion, action items monitoring reports,  and issue management, and so on. All of these characteristics, as well as the necessity for businesses to expedite the work involved in organising clinical trials, point to a bright future for the sector.

MARKET DYNAMICS

DRIVERS

  • Clinical research has significant operating expenditures and regulatory restrictions.

  • Pharmaceutical-biopharmaceutical businesses and contract research organisations (CROs) have formed research alliances.

  • Clinical trials are becoming more common, and improved CTMS technologies are becoming more readily available.

  • Increasing the size of the desired consumer base

  • Government financing and grants for clinical trials are increasing.

RESTRAINTS

  • Budgetary restrictions

OPPORTUNITIES

  • Outsourcing research methods is becoming increasingly popular.

  • Platform-as-a-service (PaaS) and mobile computing integration is becoming more common.

  • Technology adoption agility and investment in efficient digital infrastructure

CHALLENGES

  • Scarcity of qualified personnel

  • Industry is fragmented and heavily regulated.

  • Patient confidentiality is paramount.

  • Researchers aren't aware of the benefits that come with it.

IMPACT OF COVID-19

Medical practices across all specializations and practices are under tremendous strain as a result of the COVID-19 outbreak; doctors around the world have been overwhelmed by the vast and growing number of patients. The beginning of this pandemic has put pharma-biopharma endeavors in different nations under gigantic monetary pressure. CTMS has proven to be extremely useful in this area, since it enables industrial and academic researchers to monitor patients utilizing digitally connected platforms while also assisting in the organisation and evaluation of clinical data for regulatory filings.

The COVID-19 epidemic has also increased the requirement for social distance between doctors and patients, driving need for remote patient monitoring and digital solutions for clinical research data collection and analysis. Several market companies have integrated COVID-19-related functionality into their existing EHRs, which are now available to users for free.

By Deployment:

Enterprise-wide and on-site CTMS are two types of clinical trial management systems on the market.  The enterprise-wide category took the lead. The majority of end customers have adopted this segment due to its benefits, which explains why it has such a huge market share.

By Delivery Type

The clinical trial management system market is divided into three categories: web-based (demand), licensed enterprise (on-premises), and cloud-based (SaaS). The web-based segment, meanwhile, dominated the market in 2019. The benefits of web-based software, such as easy access, improved productivity, and time and cost savings, make up a large part of this market.

By Product & Service

The market for clinical trial management systems is divided into two categories: software and services. Some of the key factors driving the growth of the software industry are increased R&D funding, increased number of clinical trials, and increased use of clinical trial management solutions.

By End User

Large pharma-biotech firms, small & mid-sized pharma-biotech companies, CROs, and medical device manufacturers have all been classified in the clinical trial management system market. A growing emphasis on R&D is one of the primary drivers promoting CTMS adoption. Because of increased R&D expenses, outcomes-based reimbursement, and harsher regulations imposed on large pharma companies, a portion of their R&D tasks are outsourced to smaller pharma companies, which boosts the growth of this category.

COMPETITIVE LANDSCAPE

Some of the major key players of the Clinical Trial Management System Market are as follows:  IQVIA Inc., Medidata Solutions, Inc., Veeva Systems, Oracle, SimpleTrials, Labcorp, DATATRAK International, Inc., Calyx, RealTime, and Clario.

MARKET SEGMENTATION

By Deployment type

  • Enterprise-wide CTMS

  • On-Site CTMS

By Delivery Type

  • Web-based (On-demand)

  • Licensed Enterprise (On-premises)

  • Cloud-based (SaaS)

By Product & Service

  • Software

  • Services

By End User

  • Large Pharma-biotech Companies

  • CROs

  • Medical Device Manufacturers

  • Small & Mid-sized Pharma-biotech Companies

REGIONAL ANALYSIS

At the time of speculation, the Asia Pacific market is expected to grow at a rapid pace. The Asia Pacific region is likely to offer significant opportunities for the expansion of the clinical trial management system. The existence of stronger control guidelines compared to developed nations, greater patient base, faster rate of patient employment in clinical trials than mature nations, lower operating costs of conducting clinical trials, shortage of trial volunteers in Europe and North America, and growing number of pharmaceutical companies growing among -Asia Pacific.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

 

Clinical Trial Management System Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 1.10 Billion
Market Size by 2028 US$ 2.76 Billion
CAGR CAGR of 14% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Deployment type (Enterprise-wide CTMS, On-Site CTMS)
• By Delivery Type (Web-based (On-demand), Licensed Enterprise (On-premises), Cloud-based (SaaS))
• By Product & Service (Software, Services)
• By End User (Large Pharma-biotech Companies, CROs, Medical Device Manufacturers, Small & Mid-sized Pharma-biotech Companies)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles IQVIA Inc., Medidata Solutions, Inc., Veeva Systems, Oracle, SimpleTrials, Labcorp, DATATRAK International, Inc., Calyx, RealTime, and Clario.
DRIVERS • Clinical research has significant operating expenditures and regulatory restrictions.
• Pharmaceutical-biopharmaceutical businesses and contract research organisations (CROs) have formed research alliances.
• Clinical trials are becoming more common, and improved CTMS technologies are becoming more readily available.
RESTRAINTS • Budgetary restrictions


Frequently Asked Questions (FAQ) :

Budgetary restrictions is the main restraints of the Clinical Trial Management System market.

Increasing the size of the desired consumer base, and Government financing and grants for clinical trials are increasing are all propelling the Clinical Trial Management System market forward.

Asia Pacific market is expected to grow at a rapid pace. The Asia Pacific region is likely to offer significant opportunities for the expansion of the clinical trial management system.

IQVIA Inc., Medidata Solutions, Inc., Veeva Systems, Oracle, SimpleTrials, Labcorp, DATATRAK International, Inc., Calyx, RealTime, and Clario Are the key players of the Clinical Trial Management System Market.

Clinical Trial Management System Market Size was valued at USD 1.10 billion in 2021.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine ware

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

  

8. Clinical Trial Management System Market Segmentation, By Deployment type

8.1 Enterprise-wide CTMS

8.2 On-Site CTMS

 

 

9. Clinical Trial Management System Market Segmentation, By Delivery Type

9.1 Web-based (On-demand)

9.2 Licensed Enterprise (On-premises)

9.3 Cloud-based (SaaS)

 

10. Clinical Trial Management System Market Segmentation, By Product & Service

10.1 Software

10.2 Services

 

11. Clinical Trial Management System Market Segmentation, By End User

11.1 Large Pharma-biotech Companies

11.2 CROs

11.3 Medical Device Manufacturers

11.4 Small & Mid-sized Pharma-biotech Companies

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

 

13.Company Profiles

13.1 IQVIA Inc.,

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 Medidata Solutions, Inc.

13.3 Veeva Systems

13.4 Oracle

13.5 SimpleTrials

13.6 Labcorp

13.7 DATATRAK International, Inc.

13.8 Calyx

13.9 RealTime

13.10 Clario.

 

14.Competitive Landscape

14.1 Competitive Benchmark

14.2 Market Share analysis

14.3 Recent Developments

 

15.Conclusion

 

 

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.