Clinical Trial Management System Market by End User (Pharma & Biopharmaceutical Co., Medical Device Co., CROs), Delivery Mode (Web Hosted, On-premise, Cloud-based), Type (Enterprise, Site), Component (Software, Services) - Global Forecast to 2022

[266 Pages Report] The global CTMS market is expected to reach USD 1,065.6 million by 2022 from USD 590.0 million in 2017, at a CAGR of 12.6%. Factors such as significant partnerships between biopharma companies and CROs, rising number of clinical trials, availability of advanced CTMS solutions, growing customer base for CTMS solutions, and rising government funding & grants to support clinical trials are driving the overall demand for CTMS across key markets. However, budget constraints and limited awareness among researchers about the advantages of CTMS solutions are the major factors restraining the growth of CTMS market.

Market Dynamics

Drivers

• Significant partnerships between biopharma companies and CROs
• Rising number of clinical trials
• Availability of advanced CTMS solutions
• Growing customer base for CTMS solutions
• Rising government funding & grants to support clinical trials

Restraints

• Budget constraints
• Limited awareness among researchers about the advantages of CTMS solutions

Opportunities

• Increased outsourcing of clinical trial processes by industrial researchers to Asian countries/ developing countries CROs
• Increasing use of platform-as-a-service (PaaS) and mobile computing

Challenges

• Lack of skilled professionals

Rising number of clinical trials and significant partnerships between biopharma companies and CROs are the major drivers for the market.

The life science industry is witnessing a global increase in the number of clinical trials each year. This growth in the number of clinical trials conducted can be attributed to factors such as the rapidly increasing aging population, high prevalence of chronic diseases, expiry of blockbuster drugs, availability of government funds for clinical trials, and fierce competition in the pharmaceutical industry. According to ClinicalTrials.gov, as of December 06, 2017, 260,848 clinical trials were registered across the globe. As CTMS solutions are predominantly used to manage clinical trials, the global rise in the number of clinical trials is directly contributing to the increase in the demand for CTMS solutions. Currently, factors such as the impending patent cliff and the expiry of major drugs, rising drug development costs, increasing regulatory and reimbursement issues, and a sluggish global economy have put enormous pressure on the biopharmaceutical industry. In order to remain competitive in the market, many market players are increasingly outsourcing their clinical trials to CROs to reduce the cost and time of the entire process, improve their global reach, and extend their expertise. Clinical trial management systems are used to effectively and efficiently manage clinical trials by streamlining patient management, project management, and data management. Thus, growing partnerships between biopharma companies and CROs is also expected increase the adoption of these systems in the coming years.

The following are the major objectives of the study.

• To define, describe, segment, and forecast the global CTMS market on the basis of components, type, delivery mode, end user, and region.
• To provide detailed information regarding the major factors influencing the overall market growth (drivers, restraints, opportunities, challenges, and trends) across individual geographies
• To analyze micromarkets1 with respect to their individual growth trends, future prospects, and contributions to the overall market
• To analyze growth opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of the market segments with respect to the four key regions—North America (US, Canada), Europe (Germany, UK, France, and RoE), Asia Pacific (China, Japan, India, and RoAPAC), and the Rest of the World (RoW)
• To profile the key players in the global CTMS market and comprehensively analyze their market shares and core competencies2
• To track and analyze competitive developments such as product launches and product enhancements; agreements, partnerships, and collaborations; mergers and acquisitions; and R&D activities in the CTMS solutions market

During this research study, major players operating in the CTMS market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva, along with primary respondents. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market. The figure below shows the breakdown of the primaries on the basis of the company type, designation, and region considered during the research study.

To know about the assumptions considered for the study, download the pdf brochure

Major players in this market include Oracle Corporation (US), Medidata Solutions, Inc. (US), PAREXEL International Corporation. (US), Bioclinica. (US), Bio-Optronics, Inc. (US), and IBM (US). Product launches, partnerships, collaborations, agreements, and market expansions were the key strategies adopted by players to grow and expand their presence in the CTMS market.

Major Market Developments:

• In October 2017, MedNet Solutions released the latest version of iMedNet with enhanced features.
• In November 2017, Medidata Solutions and Karyopharm Therapeutics partnered in order to integrate and develop their solutions, namely, CTMS and eRegulatory Solutions
• In May 2017, Oracle opened its Oracle Cloud EU Region in Germany, with the addition of modern infrastructure as a service (IaaS) architecture and new IaaS and platform as a service (PaaS) cloud services.
• In September 2017, Pamplona completed the acquisition of Paraxel and bought its shares in order to help PARAXEL increase its productivity.

Target Audience:

• Healthcare IT service providers
• Pharmaceutical/biopharmaceutical companies
• Clinical research organizations
• Research and development (R&D) companies
• Medical device companies
• Business research and consulting service providers
• Academic medical centers/universities/hospitals

Scope of the Report

This report categorizes the global CTMS market into the following segments and subsegments:

Global CTMS Market, by Type

• Enterprise CTMS
• Site CTMS

Global CTMS Market, by Delivery Mode

• Web-based (Hosted) CTMS
• Licensed Enterprise (On Premise) CTMS
• Cloud-based (SaaS) CTMS

Global CTMS Market, by Component

• Software
• Services

Global CTMS Market, by End User

• Pharmaceutical and Biopharmaceutical Companies
  • Large
  • Mid-small
• Contract Research Organizations
• Medical Device Companies
• Other End Users

Note: Other End Users include hospitals and academic research institutions among others

Global CTMS Market, by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • RoE
• Asia Pacific
  • Japan
  • China
  • India
  • RoAPAC
• Rest of the World (RoW)

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

Product matrix which gives a detailed comparison of the product portfolios of the top five companies

Company Information

• Detailed analysis and profiling of additional market players (up to 5)

Table of Contents

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Markets Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency Used
    1.5 Market Stakeholders 

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
    2.2 Market Size Estimation
           2.2.1 Top-Down Approach
           2.2.2 Bottom-Up Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions
    2.5 Research Limitations

3 Executive Summary

4 Premium Insights
    4.1 Clinical Trial Management System Market: Overview (2017–2022)
    4.2 Global Clinical Trial Management Systems Market, By Component, 2017 vs 2022
    4.3 Global Clinical Trial Managements Systems Market, By Type, 2017 vs 2022
    4.4 Global Clinical Trial Management Systems Market, By End-User and Mode of Delivery (2017)
    4.5 Global Clinical Trial Management Systems Market, By Country, 2017

5 Clinical Trial Management System Market: Overview
    5.1 Drivers
    5.2 Restraints
    5.3 Opportunities
    5.4 Challenges
    5.5 Key Industry Trends

6 Clinical Trial Management Systems Market, By Type
    6.1 Introduction
    6.2 Enterprise CTMS 
    6.3 Site CTMS 

7 Clinical Trial Management Systems Market, By Delivery Mode
    7.1 Introduction
    7.2 Web-Based (Hosted) CTMS 
    7.3 Licensed Enterprise (On Premise) CTMS
    7.4 Cloud-Based (SaaS) CTMS

8 Clinical Trial Management Systems Market, By Component
    8.1 Introduction
    8.2 Softwares
    8.3 Services

9 Clinical Trial Management Systems Market, By End User
    9.1 Introduction
    9.2 Pharmaceutical and Biopharmaceutical Companies
           9.2.1 Large Pharmaceutical Companies
           9.2.2 Mid-Small Pharmaceutical Companies
    9.3 Contract Research Organizations
    9.4 Medical Device Companies
    9.5 Other End Users

10 Clinical Trial Management Systems Market, By Region
     10.1 Introduction
     10.2 North America
             10.2.1 US
             10.2.1 Canada
     10.3 Europe
             10.3.1 Germany
             10.3.2 UK
             10.3.3 France
             10.3.4 Rest of Europe (RoE)
     10.4 Asia Pacific
             10.4.1 China
             10.4.2 Japan
             10.4.3 India
             10.4.4 Rest of Asia Pacific
     10.5 Rest of the World (RoW)

11 Competitive Landscape
     11.1 Overview
     11.2 Clinical Trial Management Systems Market Share Analysis, By Key Players (2016) 
     11.3 Competitive Scenario and Trends
             11.3.1 Product Launches and Enhancements (2014–2017)
             11.3.2 Agreements, Partnerships, and Collaborations (2014–2017)
             11.3.3 Market Expansions (2014–2017)
             11.3.4 Mergers and Acquisitions (2014–2017)

*Top 15 Companies Analyzed for This Studies are - Oracle (US), Medidata Solutions (US), Parexel (US), Bioclinica (US), Bio-Optronics (US), IBM (US), Datatrak (US), Veeva Systems (US), DSG (US), Mastercontrol (US), ERT (US), Forte Research Systems (US), Mednet Solutions (US), Arisglobal (US), and DZS Software Solutions (US).

12 Company Profiles
(Introduction, Products & Services, Financial Snapshots, Developments, MnM View)*
     12.1 Oracle
     12.2 Medidata Solutions
     12.3 Parexel
     12.4 Bioclinica
     12.5 Bio-Optronics
     12.6 IBM
     12.7 Datatrak
     12.8 Veeva Systems
     12.9 DSG 
     12.10 Mastercontrol
     12.11 ERT 
     12.12 Forte Research Systems
     12.13 Mednet Solutions
     12.14 Arisglobal
     12.15 DZS Software Solutions

*Details on Marketsandmarkets View, Introduction, Product & Services, New Developments Might Not Be Captured in Case of Unlisted Companies.

13 Appendix
     13.1 Discussion Guide
     13.2 Knowledge Store
     13.3 Introducing RT: Real-Time Market Intelligence
     13.4 Available Customizations
     13.5 Related Reports 
     13.6 Authors Details

List of Tables (88 Tables)

Table 1 List of Partnerships Between Biopharma Companies and CROs
Table 2 Global Clinical Trial Management System Market, By Type, 2017–2022 (USD Million)
Table 3 CTMS Market for Enterprise CTMS, By Region, 2017–2022 (USD Million)
Table 4 CTMS Market for Site CTMS, By Region, 2017–2022 (USD Million)
Table 5 Global CTMS Market, By Delivery Mode, 2015–2022 (USD Million)
Table 6 Web-Based (On-Demand) Clinical Trial Management Systems Market, By Region, 2015–2022 (USD Million)
Table 7 Licensed Enterprise (On-Premise) CTMS Market, By Region, 2015–2022 (USD Million)
Table 8 Cloud-Based (SaaS) Clinical Trial Management Systems Market, By Region, 2015–2022 (USD Million)
Table 9 Global CTMS Market, By Component, 2017–2022 (USD Million)
Table 10 CTMS Market for Software By Region, 2017–2022 (USD Million)
Table 11 CTMS Market for Services By Region, 2017–2022 (USD Million)
Table 12 Global Clinical Trial Management Systems Market, By End User, 2017–2022 (USD Million)
Table 13 CTMS Market for Pharmaceutical and Biopharmaceutical Companies By Region, 2017–2022 (USD Million)
Table 14 Clinical Trial Management System Market for Pharmaceutical and Biopharmaceutical Companies By Type, 2017–2022 (USD Million)
Table 15 CTMS Market for Large Pharmaceutical Companies By Region, 2017–2022 (USD Million)
Table 16 Clinical Trial Management Systems Market for Small-Mid Sized Pharamceutical Companies By Region, 2017–2022 (USD Million)
Table 17 Strategic Alliances Between CROs and Pharma Companies (2011–2015)
Table 18 CTMS Market for CRO By Region, 2017–2022 (USD Million)
Table 19 CTMS Market for Medical Device Companies By Region, 2017–2022 (USD Million)
Table 20 CTMS Market for Other End Users By Region, 2017–2022 (USD Million)
Table 21 Clinical Trial Management Systems Market, By Region, 2015–2022 (USD Million)
Table 22 North America: CTMS Market, By Country, 2015–2022 (USD Million)
Table 23 North America: Clinical Trial Management System Market, By Component, 2015–2022 (USD Million)
Table 24 North America: CTMS Market, By Type, 2015–2022 (USD Million)
Table 25 North America: Clinical Trial Management Systems Market, By Delivery Mode, 2015–2022 (USD Million)
Table 26 North America: CTMS Market, By End User, 2015–2022 (USD Million)
Table 27 North America: Pharmaceutical and Biopharmaceutical Companies Market, By Type, 2015–2022 (USD Million)
Table 28 US: Clinical Trial Management Systems Market, By Component, 2015–2022 (USD Million)
Table 29 US: CTMS Market, By Component, 2015–2022 (USD Million)
Table 30 US: CTMS Market, By Delivery Mode, 2015–2022 (USD Million)
Table 31 US: CTMS Market, By End User, 2015–2022 (USD Million)
Table 32 Canada: Clinical Trial Management Systems Market, By Component, 2015–2022 (USD Million)
Table 33 Canada: CTMS Market, By Type, 2015–2022 (USD Million)
Table 34 Canada: Clinical Trial Management System Market, By Delivery Mode, 2015–2022 (USD Million)
Table 35 Canada: CTMS Market, By End User, 2015–2022 (USD Million)
Table 36 Europe: Clinical Trial Management Systems Market, By Country, 2015–2022 (USD Million)
Table 37 Europe : CTMS Market, By Component, 2015–2022 (USD Million)
Table 38 Europe : CTMS Market, By Type, 2015–2022 (USD Million)
Table 39 Europe : CTMS Market, By Delivery Mode, 2015–2022 (USD Million)
Table 40 Europe : Clinical Trial Management Systems Market, By End User, 2015–2022 (USD Million)
Table 41 Europe : Pharmaceutical and Biopharmaceutical Companies Market, By Type, 2015–2022 (USD Million)
Table 42 Germany: Clinical Trial Management System Market, By Component, 2015–2022 (USD Million)
Table 43 Germany: CTMS Market, By Type, 2015–2022 (USD Million)
Table 44 Germany: Clinical Trial Management Systems Market, By Delivery Mode, 2015–2022 (USD Million)
Table 45 Germany: CTMS Market, By End User, 2015–2022 (USD Million)
Table 46 UK: Clinical Trial Management Systems Market, By Component, 2015–2022 (USD Million)
Table 47 UK: CTMS Market, By Type, 2015–2022 (USD Million)
Table 48 UK: CTMS Market, By Delivery Mode, 2015–2022 (USD Million)
Table 49 UK: CTMS Market, By End User, 2015–2022 (USD Million)
Table 50 France: Clinical Trial Management Systems Market, By Component, 2015–2022 (USD Million)
Table 51 France: CTMS Market, By Type, 2015–2022 (USD Million)
Table 52 France : Clinical Trial Management System Market, By Delivery Mode, 2015–2022 (USD Million)
Table 53 France : CTMS Market, By End User, 2015–2022 (USD Million)
Table 54 RoE: Clinical Trial Management Systems Market, By Component, 2015–2022 (USD Million)
Table 55 RoE: CTMS Market, By Type, 2015–2022 (USD Million)
Table 56 RoE: CTMS Market, By Delivery Mode, 2015–2022 (USD Million)
Table 57 RoE: CTMS Market, By End User, 2015–2022 (USD Million)
Table 58 APAC: Clinical Trial Management Systems Market, By Country, 2015–2022 (USD Million)
Table 59 APAC: CTMS Market, By Component, 2015–2022 (USD Million)
Table 60 APAC: Clinical Trial Management System Market, By Type, 2015–2022 (USD Million)
Table 61 APAC: CTMS Market, By Delivery Mode, 2015–2022 (USD Million)
Table 62 APAC: Clinical Trial Management Systems Market, By End User, 2015–2022 (USD Million)
Table 63 APAC: Pharmaceutical and Biopharmaceutical Companies Market, By Type, 2015–2022 (USD Million)
Table 64 China: Clinical Trial Management Systems Market, By Component, 2015–2022 (USD Million)
Table 65 China: CTMS Market, By Type, 2015–2022 (USD Million)
Table 66 China: CTMS Market, By Delivery Mode, 2015–2022 (USD Million)
Table 67 China: CTMS Market, By End User, 2015–2022 (USD Million)
Table 68 Japan: Clinical Trial Management Systems Market, By Component, 2015–2022 (USD Million)
Table 69 Japan: CTMS Market, By Type, 2015–2022 (USD Million)
Table 70 Japan: Clinical Trial Management System Market, By Delivery Mode, 2015–2022 (USD Million)
Table 71 Japan: CTMS Market, By End User, 2015–2022 (USD Million)
Table 72 India: Clinical Trial Management Systems Market, By Component, 2015–2022 (USD Million)
Table 73 India: CTMS Market, By Type, 2015–2022 (USD Million)
Table 74 India: CTMS Market, By Delivery Mode, 2015–2022 (USD Million)
Table 75 India: CTMS Market, By End User, 2015–2022 (USD Million)
Table 76 RoAPAC: Clinical Trial Management Systems Market, By Component, 2015–2022 (USD Million))
Table 77 RoAPAC: CTMS Market, By Type, 2015–2022 (USD Million)
Table 78 RoAPAC: Clinical Trial Management Systems Market, By Delivery Mode, 2015–2022 (USD Million))
Table 79 RoAPAC: CTMS Market, By End User, 2015–2022 (USD Million)
Table 80 RoW: Clinical Trial Management System Market, By Component, 2015–2022 (USD Million)
Table 81 RoW: CTMS Market, By Type, 2015–2022 (USD Million)
Table 82 RoW: Clinical Trial Management Systems Market, By Delivery Mode, 2015–2022 (USD Million)
Table 83 RoW: CTMS Market, By End User, 2015–2022 (USD Million)
Table 84 RoW: Pharmaceutical and Biopharmaceutical Companies Market, By Type, 2015–2022 (USD Million)
Table 85 Product Launches and Enhancements (2014–2017)
Table 86 Agreements, Partnerships, and Collaborations (2014–2017)
Table 87 Market Expansions (2014–2017)
Table 88 Mergers and Acquisitions (2014–2017)

List of Figures (46 Figures)

Figure 1 Clinical Trial Management System Market: Research Design
Figure 2 Breakdown of Primaries
Figure 3 Enterprise CTMS Segment to Hold the Largest Share of the Clinical Trial Management Systems Market in 2017
Figure 4 Software Segment to Hold the Largest Share in the CTMS Market During 2017–2022
Figure 5 Web-Based CTMS Segment to Hold the Largest Share in the Global Market During the Forecast Period
Figure 6 CTMS Market, By End User, 2017 vs 2022
Figure 7 North America to Dominate the Global Clinical Trial Management Systems Market During the Forecast Period
Figure 8 Rising Number of Clinical Trials to Drive the Growth of the Market (2017–2022)
Figure 9 Software Platforms to Dominate the Global CTMS Market Till 2022
Figure 10 Enterprise Based CTMS Platforms to Dominate the Global CTMS Market Till 2022
Figure 11 Web-Based CTMS and Pharmaceutical Companies to Dominate the CTMS Market in 2017
Figure 12 China to Be the Fastest-Growing Markets for CTMS During the Forecast Period
Figure 13 Market Dynamics: Driver, Restraints, Opportunities and Challenges
Figure 14 Global Increase in the Number of Clinical Trials, 2002–2017
Figure 15 Global Clinical Trial Management Systems Market Share, By Type, 2017 vs 2022
Figure 16 Enterprise CTMS Market Share, By Geography (2017)
Figure 17 Site CTMS Market Share, By Geography (2017)
Figure 18 Global CTMS Market, By Mode of Delivery (2017 vs 2022)
Figure 19 Web-Based (On-Demand) Segment to Dominate the Global CTMS Market in 2017
Figure 20 Web-Based (On Demand) CTMS Market Share, By Region(2017)
Figure 21 Licensed Enterprise (On-Premise) Clinical Trial Management Systems Market Share, By Region (2017)
Figure 22 Cloud-Based (SaaS) CTMS Market Share, By Region (2017)
Figure 23 Software Segment to Dominate the Global CTMS Solutions Market in 2017
Figure 24 Software Market Share, By Geography (2017)
Figure 25 Services Market Share, By Geography (2017)
Figure 26 Global Clinical Trial Management System Market, By End User, 2017
Figure 27 Pharmaceutical and Biopharmaceutical Companies Segment to Dominate the Global CTMS Market in 2017
Figure 28 R&D Expenditure of Major Pharmaceutical Companies, 2015 vs 2016 (USD Million)
Figure 29 Pharmaceutical Companies Market Share, By Geography (2017)
Figure 30 Large Pharmaceutical Companies Market Share, By Geography (2017)
Figure 31 Mid-Small Pharamceutical Companies Market Share, By Geography (2017)
Figure 32 CRO Services Cover the Entire Drug Development Spectrum
Figure 33 CRO Market Share, By Geography (2017)
Figure 34 Medical Device Companies Market Share, By Geography (2017)
Figure 35 Other End Users Market Share, By Geography (2017)
Figure 36 Clinical Trial Management Systems Market By Region (2017 vs 2022)
Figure 37 Total Number of Ongoing Clinical Trials, By Region (December 2017)
Figure 38 Europe: Pharmaceutical R&D Expenditure, By Country, 2015 (USD Million)
Figure 39 Key Developments By Leading Market Players in the CTMS Market, 2014-2017
Figure 40 Global CTMS Market Share Analysis, 2016
Figure 41 Oracle : Company Snapshot
Figure 42 Medidata Solutions: Company Snapshot
Figure 43 Parexel : Company Snapshot
Figure 44 IBM : Company Snapshot
Figure 45 Datatrak : Company Snapshot
Figure 46 Veeva Systems : Company Snapshot

The global clinical trial management system (CTMS) market is expected to reach USD 1,065.6 million by 2022 from USD 590.0 million in 2017, at a CAGR of 12.6%. Factors such as significant outsourcing of clinical trial research to CROs, rising number of clinical trials, availability of advanced CTMS solutions, and rising government funds & grants to support clinical trials are driving the overall demand for CTMS across key markets.

A clinical trial management system (CTMS) is a software system used to manage clinical trials. It streamlines the clinical trial process and optimizes operational efficiency. This helps reduce the overall cost of conducting clinical trials. CTMS assist companies that conduct clinical trials such as CROs; medical device, pharmaceutical and biotechnology companies to plan, track, and manage clinical trials and their progress.

On the basis of by type, the CTMS market is segmented into enterprise CTMS and site CTMS. The enterprise CTMS segment is expected to command the largest share of the global CTMS market in 2017, and is expected to grow at the highest CAGR in the forecast period. This is attributed to the global adoption of enterprise CTMS by majority of the end users.

On the basis of delivery mode, the global CTMS market is segmented into web-based (on-demand), licensed enterprise (on premise), and cloud-based (SaaS) segments. The web-based CTMS expected to command the largest share of the global CTMS market in 2017. This is attributed to benefits provided by the web-based CTMS solution such as improves quality of clinical trials, productivity and timelines, ease of access that enables faster transfer of data and easier co-relative studies and reduced cost offered than other products.

By end user, the CTMS market is segmented into pharmaceutical and biopharmaceutical companies, contract research organizations, medical device companies, and others. The pharmaceutical and biopharmaceutical companies segment is sub segmented into large pharmaceutical companies and mid-small pharmaceutical companies. The pharmaceutical and biopharmaceutical companies segment is expected to account for the largest share of the CTMS market in 2017. The largest share is attributed to the increasing adoption of CTMS software during drug clinical trials by pharmaceutical and biopharmaceutical companies.

North America is expected to dominate the global CTMS market primarily due to the high number of ongoing clinical trials, rising government support for conducting clinical trials, and presence of a large customer base in this region. However, Asia Pacific is expected to register the highest growth rate during the forecast period. Factors driving growth in the APAC region include the increasing outsourcing of clinical trials, availability of a large and diverse patient population, presence of supportive regulatory guidelines for clinical trials (as compared to developed nations), and cost advantages offered by countries in the region.

Contract Research Organizations form the fastest growing end user segment.

Pharmaceutical and Biopharmaceutical Companies

Pharmaceutical and biopharmaceutical companies are major end users of CTMS. Life science companies primarily utilize CTMS software solutions to manage clinical trials for newly developed drugs. The large market share of these companies is attributed to factors such as increasing applications of CTMS software in clinical trials for drugs and high investments by large pharma and biopharma companies for the development of healthcare IT software.

Contract Research Organizations

A contract research organization (CRO) is an establishment that provides support to the pharmaceutical, biotechnology, and medical device industries in the form of research services outsourced on a contract basis. Research services include biopharmaceutical development, biologic assay development, commercialization, preclinical research, clinical research, clinical trials management, and pharmacovigilance. Rise in outsourcing of clinical trials by pharma and biotechnology companies to CROs is the key factor propelling the growth of this segment. In the past five years, the industry has witnessed a number of strategic alliances between contract research organizations and drug manufacturers.

Medical Device Companies

Medical device companies use CTMS software solutions to manage clinical trials related to medical devices. Advancements in medical devices and their therapeutic capabilities and increasing stringency of regulatory approval bodies are driving the growth of this end-user segment in the CTMS market. Government funding for development of innovative medical devices is also contributing to the rising demand for CTMS solutions among medical device companies.

Other End Users

The other end users segment includes hospitals and academic research institutes. Hospitals use CTMS solutions to manage their multiple active clinical research studies, patient tracking, improve recruitment and financial performance, and streamline data collection and reporting. Increasing IT budgets of hospitals is likely to drive the demand for the CTMS solutions. Increasing public and private funding to support research activities by academic institutions is a prime factor contributing to the growth of the CTMS market in this segment.

Critical questions the report answers:

• Which of the end user segments would be driving the market growth during next decade for these software solutions; especially in Emerging countries?
• Emerging countries have immense opportunities for the growth of web-based (on-demand) segment, will this scenario continue?
• The enterprise-wise CTMS segment is expected to command the largest share across matured countries; how relevant On-Site CTMS solutions would be with changing user preferences?
• By how much is the clinical trial data management software segment larger than the services segment during 2017-2022?

Although R&D spending in the life science industry is on the rise, start-ups and small-to-medium-sized enterprises (SMEs) still face budget constraints, which affect their decision to purchase CTMS solutions. Also, due to uncertainties in product approvals, undue delays in product approvals, and long gestation periods, private investors usually prefer established firms to invest in over start-ups and SMEs. Owing to this, SMEs often have to partner with big pharma companies, raise venture capital, or rely on government grants or initial capital from angel investors. Pharmaceutical or biotech start-ups require infrastructure, such as laboratories and manufacturing facilities, which account for the maximum amount of the funds raised. This, however, leads to insufficient funds for other activities such as R&D and clinical trials. Software such as CTMS and CDMS are expensive, and require huge investments for their implementation. A CTMS solution typically includes added costs for implementation and setup, software updates, support, maintenance, and training. The cost of subscribing for CTMS solutions could run up to USD 1,500 to USD 3,000 per month. Thus, the high cost of CTMS and limited financial budgets act as barriers to its adoption among end users.

Key players in the CTMS market include Oracle Corporation (US); Medidata Solutions, Inc. (US); PAREXEL International Corporation, (US); Bioclinica, (US); Bio-Optronics, Inc. (US); and IBM (US); among others.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst