What is Clinical Trial Management Software (CTMS) Market?
Clinical Trial Management Softwares are used in pharmaceutical and clinical organizations to manage, control and track all clinical research related data, performance, technology, functions, results, etc. This software also monitors finances and patient recruitment. Continuous research and development in clinical trial management are increasing the clinical trial management software market. There is some regulatory compliance related to the privacy of patients.
The market study is being classified by Type (Web-Based CTMS and Cloud-Based CTMS) and major geographies with country level break-up.
Abbott Informatics (United States), Medrio (United States), Flex Databases(United States), Parexel (United States), Integrated Clinical Solutions (United States), Qlik (United States), OpenClinica (United States), Xybion Corporation (United States), Perficient (United States), Appistry Inc. (United States) and Cambridge Cognition (United Kingdom) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Master Control (United States) and Bio-Optronics (United States).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Clinical Trial Management Software (CTMS) market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Clinical Trial Management Software (CTMS) market by Type, Application and Region.
On the basis of geography, the market of Clinical Trial Management Software (CTMS) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Pharmaceutical Industry is Growing the Demand of Clinical Trials
- Growing Use of Automation in Clinical Management
Market Trend
- Growing Adoption of Specialised Software for Clinical Trial Management
- Continuous Research and Development in Clinical Trials
Restraints
- Unexpected Issues with Technology used in Clinical Trial Management
Opportunities
- Innovation In Clinical Trial Technology to Management the System
- Improving Efficiency and Reducing the Cost of Clinical Trials
Challenges
- Regulatory Compliance Regarding Privacy Related Concern
Key Target Audience
Research and Development Institutes, Hospital and Pharmaceutical Industry, Software Providers and Others