Clinical Trials Management System 2020 Global Market Key Players – Novo Nordisk, Amgen, Pfizer, Roche - Analysis and Forecast to 2026

Clinical Trials Management System Market 2020

Market Overview
The Clinical Trials Management System refers to an advanced software system that can gather, store, and manage data within a particular clinical trial procedure. Clinical trials management system effectively centralizes the administrative components of a particular study, involving billing, reporting and tracking. Several research sites, healthcare and research institutions, sponsors, and CRO professionals utilize the clinical trial management system to monitor and analyze clinical trials. The advanced clinical trials management system offers a centralized and secure location for data collection, storage, management, and retrieval. Patient information, treatment records, official documents, and research-related documents can be effortlessly accessed through a searchable library module available in the clinical trial management system.

The following Key Companies covered in this report
Novo Nordisk
Amgen
Pfizer
Roche
Johnson & Johnson
Novartis
Sanofi
GlaxoSmithKline
Merck
Bristol Myesr Squibb
 
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Study documents and research-based data reports, including protocol amendments can be securely stored, accessed, and easily distributed among research teams, study groups and different healthcare organizations. Additionally, clinical trials management systems can also generate detailed drug and disease-related reports and can help in monitoring and analyzing the status of an individual or multiple clinical trials. This feature of CTMS is extremely useful when institutions and research sites are conducting multiple studies at a time because the CTM system is capable to gather and analyze data reports within a clinical research department. All these factors are expected to drive the demand for clinical trials management systems, thereby strengthening the market growth.

Instantaneous growth of healthcare and the IT industry sector, rising R&D expenditure by the government, life science and clinical research organization and improved adoption of efficient CTM systems is foreseen to drive the growth of the clinical trials management system market. Furthermore, growing government and healthcare institution investments and funding for several biotechnology and pharmaceutical applications are expected to promote medical research activities in these sectors. This factor is further anticipated to boost the clinical trials management system market growth. Clinical trial management systems are promptly undergoing technological advancements, which is expected to improve the system's performance and increase the system's accuracy and efficiency.

Market Segmentation
The global clinical trials management system market can be analyzed on the basis of product types, applications, regional markets, and prominent market players. Based on the product types, the clinical trials management system market can be segmented into-
Web-based CTMS
Cloud-based CTMS
On-Premise CTMS

Based on applications, the clinical trials management system market can be segmented into-
Software
Services

Pharmaceutical and Biotechnology Firms, CROs, and Medical Device manufacturing industries are the primary end-users of the clinical trials management system. The lack of experienced and skilled professionals, particularly in emerging countries, has compelled biotechnological and pharmaceutical industries to invest more in staff training programs. This factor is further expected to drive the demand for CTM systems.

Regional Analysis
Based on geography, the global clinical trials management system market can be segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North American region is considered as the dominant market for clinical trials management system. Favourable regulatory policies established by government and healthcare organizations and rising investments by the pharmaceutical organizations are the primary factors driving the growth of this regional market. The Asia Pacific is another leading market for CTM systems. Increasing development time and cost spent on clinical trials and outsourcing of clinical trials has become a viable option for healthcare and research institutes operating in Asian countries. Furthermore, the institutions operating in the Asia Pacific countries offer a cost-effective and less time-consuming process for clinical trials and researches. This factor is further expected to strengthen the growth of the Asia Pacific clinical trials management system market.

Industry News
In June 2016, Oracle, a leading software and IT service provider, declared that Pfizer has appointed the Oracle Siebel Clinical Trial Management and Monitoring Cloud solution and Oracle Health Sciences InForm Cloud Service to effectively monitor and manage more than 300 clinical trials conducted by Pfizer per year. PARAXEL International Corporation has launched its efficient patient sensor solution. The product can securely capture, store, transmit, and visualize research-based subject data in different clinical trial procedures. This clinical trials management and monitoring cloud solution is powered by the Perceptive MyTrials Analytics platform. Oracle's Siebel clinical trials system facilitates remote collection of research-based subject data via advanced medical devices.
 
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