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Global Clinical Trial Management Systems Market
Dublin, Nov 20, 2023 (GLOBE NEWSWIRE) — The “Global Clinical Trial Management Systems Market Report 2023” has been added to the ResearchAndMarkets. com offering.
The global Clinical Trial Control Formulations (CTMS) market is expected to grow from $1. 46 billion in 2022 to an impressive $2. 74 billion through 2027, representing a compound annual expansion rate (CAGR) of 13. 3%. This expansion trajectory is supported by an ongoing number of international clinical trials and technological advancements.
The clinical trial monitoring systems market has demonstrated its resilience and expansion prospects in the face of global challenges. The Russia-Ukraine conflict, which has led to economic sanctions, surging commodity prices and supply chain disruptions, has contributed to a global economic earthquake affecting many markets. Despite these headwinds, the CTMS market has continued its upward trend, driven primarily by the growing volume of clinical trials.
Clinical trials, which are used to compare new medical procedures and treatments, have seen a significant increase. Trialtrove’s knowledge revealed that the number of Phase I-III clinical trials initiated increased from 9,819 in 2020 to 10,410 in 2021, a 6% increase. Notably, non-COVID-19 trial launches increased by 22% in 2021, further catalyzing demand for effective CTMS.
Technological advancements are at the forefront of the growth of this market. Leading corporations in the field of CTMS are taking advantage of new technologies to consolidate their presence in the market. A clever example is eClinical Solutions LLC, which in February 2021 introduced the Elluminate clinical trial control system. This platform integrates data from clinical operations, offering enhanced testing functionality and operational monitoring, and therefore decision-making processes.
Geographically, North America dominated the CTMS market in 2022, while the Asia Pacific region is poised to become the fastest-developing market in the coming years. Comprehensive market research covers regions including Western Europe, Eastern Europe, North America, South America, Middle East and Africa with detailed data on countries such as Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea. United Kingdom, United States, Italy, Spain and Canada.
The CTMS market is home to major players such as International Business Machines Corporation, Thermo Fisher Scientific Inc. , Oracle Corporation, and Parexel International Corporation, among others. A notable progression in the market was Advarra Technology Solutions Inc. ‘s acquisition of Bio-Optronics Inc. in March 2021, a strategic move that expanded Advarra’s diversity of fitness formula connections and sites.
This report is part of a comprehensive series that provides detailed statistics, market size, regional shares, competitive landscape, and segment analysis. It provides a holistic view of the market, covering facets such as product types (enterprise and on-premises), factors (software and services), delivery strategies (web-based, on-premises, and cloud), and end-users (pharmaceutical and biotech companies, medical device companies, CROs, and others).
The Clinical Trial Control Systems market, which encompasses the profits of remedial trial control services, prevention, screening, and supportive care, presents a valuable opportunity for stakeholders in the healthcare and generation industries. This expansion trajectory is a testament to the market’s resilience and adaptability in the face of global economic challenges.
A variety of corporations analyzed in this report include
International Office Machinery Society
Oracle Company
Cognizant India Private Limited Technology Solutions
Laboratory Corporation of America Holdings
Wipro limited
Veeva Systems Inc.
Medidata Solutions
BioClinica Inc.
Chalice
Bugle
Advarra Inc.
ArisGlobal LLC
MasterControl Solutions Inc.
Médrio Inc.
Anju Software Inc.
Forté Search System Inc.
Cmed Clinical Services
OmniComm Systems Inc.
MedNet Solutions Inc.
DSG Inc.
eClinical Solutions LLC
Bioclinic (BCP)
Flexible databases
DataTrak International Inc.
OpenClinica LLC
Simple Testing
PHARMASEAL International Ltd.
Dacima Software Inc.
Real-Time Software Solutions LLC
For more information on this report, https://www. researchandmarkets. com/r/5gr28v
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Global Clinical Trial Management Systems Market