Clinical Trial Management System Market
The Clinical Trial Management System Market is estimated to expand at a robust CAGR over the forecast period
The factors driving the growth of Clinical Trial Management System Market includes increase in the number of clinical studies around the world, growing focus on developing effective vaccines and rising prevalence of chronic and infectious diseases. According to the report published by Statista, the total number of registered clinical studies worldwide has increased from 325,776 in 2019 to 399,535 in 2021, which will accelerate the Global Clinical Trial Management System Market in the approaching years. Moreover, the growing adoption of advanced technologies such as Artificial Intelligence (AI) and Big Data Analytics by pharmaceutical and biotechnology-based companies, rise in Government’s expenditure on the healthcare sector and increasing investments by leading players on research and development, are some of the additional factors supplementing the market growth. As per Center for Medicare and Medicaid Services, the National Health Expenditures in the United States reached USD 4.1 trillion in 2020, which accounted for 19.7% of the GDP and the hospital expenditure increased to 6.4% during the same year, which will boost the market growth in the coming years.
However, the growth pf Clinical Trial Management System Market is hindered due to high cost of acquiring advanced technology services.
The prominent players operating in the market are Bioclinica, REALTIME SOFTWARE SOLUTIONS LLC, ERT, Oracle Corporation, DZS CLINICAL SERVICES, Advarra Technology Solutions, MedNet Solutions, Crucial Data Solutions, Ennov, VEEVA SYSTEMS and DSG, among others.
Based on Offering, the Software segment is predicted to dominate the market during the forecast period
Increase in thew launch of new digital tools for enhancing the trial efficiency, is propelling the growth of the segment.
Based on Deployment mode, the Cloud based segment is projected to lead the market over the forecast period
Cloud based clinical trials are cost effective, adds multiple layers of security to patient data, and generates reliable data for risk-based monitoring (RBM), are propelling growth of the segment.
Based on Region, the North American region is anticipated to hold the highest market share during the forecast period
Growing adoption of advanced technologies, presence of the leading pharmaceutical companies, rising population growth rates and high per capita incomes, are some of the important factors augmenting the Clinical Trial Management System Market Growth in North America.
Segmentation by Offering
Segmentation by Deployment mode
Segmentation by Delivery
Segmentation by Application
Segmentation by Region
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