Leading Companies Operating in the Global CTMS Industry:

# Oracle Corporation (US)
# Medidata Solutions (US)
# Parexel International (US)
# Bio-Optronics (US)
# Datatrak (US)
# Veeva Systems (US)
# MasterControl (US)

Major Growth Driving Factors:

Growth in clinical trial management system market is primarily driven by rising industry-academia collaborations, the increasing number of clinical trials, rising technology adoption, and government support for research trials. However, budget constraints and limited knowledge about advanced CTMS solutions restrain the market growth.

Role of Leading Companies in Global Growth:

The competitive landscape includes the analysis of the key growth strategies adopted by major players between 2017–2020 to expand their global presence and increase their market shares in clinical trial management system market

The key growth strategies adopted by the top players in the CTMS market include product launches and approvals, agreements, expansions, and acquisitions. Acquisitions were the most widely adopted growth strategies by market players in the last three years to garner a larger share of the clinical trial management system market. In 2019, the clinical trial management system market was dominated  Oracle Corporation (US), Medidata Solutions (US), Parexel International (US), Bioclinica (US), and IBM (US).

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Oracle Corporation (US) holds the leading position in the global CTMS market. It has a wide range of CTMS solutions and a broad customer base in over 145 countries. It primarily focuses on capability expansion and partnerships collaborations to sustain its leading position in the CTMS market.

In the past three years, the company partnered or collaborated with several industry stakeholders for collaborative research that utilizes CTMS solutions, such as FHI Clinical (US). Besides product launches, the company also acquired goBalto (aimed to strengthen its services customer assistance capabilities across its customer base) and established the Oracle Cloud EU Center (Germany) to expand its market presence in Europe.

Medidata Solutions (US) is a leader in the global CTMS market. The company offers cloud-based (software-as-a-service) CTMS across the globe. It primarily focuses on partnerships and collaborations to expand its market presence. For instance, the company signed a research partnership with several industry stakeholders during 2016–2020, including Hanmi Pharma (South Korea) and GSK (UK).

Broader Outlook of This Research Study -

This Report Will Help You:

# To define, describe, and forecast the clinical trial management system market based on product service, deployment mode, deployment type, and end user.

# To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges).

# To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall clinical trial management system market.

# To analyze market opportunities for stakeholders and provide details of the competitive landscape for market leaders.

# To estimate the size growth potential of the market segments and subsegments with respect to five key regions—North America, Europe, Asia Pacific, Latin America, and the Middle East Africa—and key countries.

# To profile the key players in the market and comprehensively analyze their global revenue shares and core competencies.

# To track and analyze competitive developments, such as product launches and approvals, partnerships, agreements, collaborations, and acquisitions in the CTMS market.

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Expected Revenue Growth:

The clinical trial management system market is projected to reach USD 1,590 million by 2025, at a CAGR of 14.7% during the forecast period.

Large pharma-biotech companies segment is expected to account for the largest share of the clinical trial management system market, by the end user

Based on end users, the global market has been segmented based on end-user category—large pharma-biotech companies, small mid-sized pharma-biotech companies, CROs, medical device manufacturers, and other end users. One of the key factors driving the use of CTMS is an increasing emphasis on RD. For instance, PhRMA member companies in the US increased their RD expenditure from ~USD 26.0 billion in 2000 to USD 58.8 billion in 2015 (Source: Pharmaceutical Research and Manufacturers of America).

Due to rising pressure of RD costs, outcomes-based reimbursement, and stricter regulations imposed on large pharma companies, a part of their RD functions is outsourced to smaller pharmaceutical companies, which increases the growth of companies in this category.

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