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.
Some of the major players in the CTMS market are Oracle Corporation,
Bio-Optronics, MedNet Solutions, PAREXEL International Corporation,
Medidata Solutions and BioClinica
View Full Report TOC, Figures and Tables @
No comments:
Post a Comment