Global Clinical Trial Management System Market Value to Increase to US$ 1,848.5 Million by 2019
According to a new market report published by Persistence Market Research “Global Market Study on Clinical Trial Management System: Asia to Witness Highest Growth by 2019” the global clinical trial management system market was valued at USD 844.0 million in 2013 and is expected to grow at a CAGR of 14% from 2014 to 2019, to reach an estimated value of USD 1,848.5 million in 2019.
Clinical trial is a medical research study performed on humans to check the safety and efficacy of drugs, devices and therapeutic products before they are finally launched in the market. Globally, the CTMS market is witnessing significant growth due to increasing R&D investment in pharmaceutical, life science and clinical research industries. It empowers organizations and research centers to enhance productivity and effectiveness of clinical trials by advancing and managing clinical trials. Integration of CTMS with hospital information system (HIS) provides more accurate and time saving documentation is also driving growth for the CTMS market. Additionally, increasing prevalence of diseases is supporting clinical trials in different regions, and increased clinical research outsourcing is playing a major role in the growth of the CTMS market. Increasing regulatory requirements in many countries has resulted in increased complexity for clinical trial protocols. Presence of various end users such as pharmaceuticals, clinical research organizations (CRO) and healthcare providers has increased the acceptance of CTMS. The global CTMS market was estimated to be USD 844 million in 2013. It is likely to grow at a CAGR of 14% during 2013 to 2019 to reach USD 1,848.5 million in 2019.
North America is a traditional clinical trial region. Due to regulatory and legal considerations and the clinical trial market has shifted from North America to developing countries such as India and China. Clinical trials in the U.S. have been funded and sponsored by National Institute of Health (NIH), other government agencies, academic groups, voluntary health organizations and industry.
In Europe, countries in Central and Eastern Europe provide abundant chance to life science companies for clinical development. Due to governmental support and funding for biomedical sciences, Germany has become a preferred location for clinical trials.
However, Asia is the fastest growing region in the clinical trial management system market.. Improved industry regulatory laws and patent expiration laws in various countries including Japan, China and India, have led to the expansion of the clinical trials market in Asia. Asia has lower cost of conducting clinical trials compared to Europe or the U.S.
A Sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/3017
Some of the major players in the CTMS market are Oracle Corporation, Bio-Optronics, MedNet Solutions, PAREXEL International Corporation, Medidata Solutions and BioClinica
To Buy Full Report for a Single User @ http://www.persistencemarketresearch.com/checkout/3017
About Us
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Contact Us
Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com