Stratview Research published a new report on the Clinical Trial Management System (CTMS) Market that offers detailed segmentation of the market By Component (Software, Services), Delivery Mode (Cloud-based (SaaS) CTMS, Licensed Enterprise (On-premise) CTMS, Web-based (Hosted) CTMS), Type (Enterprise, Site), End User (Clinical Research Organizations (CROs), Medical Device Firms, Pharmaceutical & Biotechnology Firms, Other) and Region.
According to the report, The Clinical Trial Management System (CTMS) Market is expected to grow from USD 810.3 million in 2020 to USD 1597.5 million by 2026 at a CAGR of over 12.2% during the forecast period.
The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Covid Impact –
The Corona Virus Pandemic has caused significant losses in nearly every industry all over the world. The pandemic has had a rapid impact on the global economy, affecting the market's manufacturing, demand, and distribution network. The Clinical Trial Management System (CTMS) Market has also been influenced by the unprecedented COVID-19 outbreak. The market analysts have thoroughly examined the market and gathered insightful data related to covid impact such as before and after market size, regional impact, financial losses, organic and inorganic growth factors, etc.
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Leading players in the market -
To build a successful business, it is vital to understanding the market - both the customers and the competitors. The report published consists of a list of key players active in the Clinical Trial Management System (CTMS) Market, is given below -
· ArisGlobal LLC (US)
· Bioclinica (US)
· Bio-Optronics (US)
· DataTrak International, Inc. (US)
· Document Solutions Group (US)
· Eclinforce Inc (US)
· Advarra, Inc. (US)
· Medidata Solutions (US)
· MedNet Solutions, Inc. (US)
· Oracle Corporation (US)
· Parexel International (US)
· Veeva Systems Inc. (US)
Report Findings
Based on end users, the market has been segmented into clinical research organizations (CROS), medical device firms, pharmaceutical & biotechnology firms, and others. The clinical research organizations segment accounted for the largest market share in 2020 and is projected to register significant CAGR during the review period.
Geographically, the market in North America accounted for the largest market share in 2020 and is expected to register significant CAGR during the review period. The market growth can be attributed to the high demand for advanced IT solutions in the healthcare sector coupled with the presence of key market players such as ArisGlobal LLC (US) and Bioclinica (US). The market in Asia-Pacific is expected to be driven by the rising adoption of CTMS in developing countries, particularly China and India.
FAQs in the report -
The research report aims to help the users learn about their market size and potential to connect with customers. This report answers to the following questions:
- How big is the potential Clinical Trial Management System (CTMS) Market?
- Will this market grow or shrink in the future?
- Who are our top competitors or key players?
- What market share do the competitors own?
- How Covid19 has affected the market?
- How long will it take to recover from the Covid-impact?
About us –
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