Avant-Garde Technologies to Help in Blossoming of Clinical Trial Management Systems Market, North America set to Acquire Extensive Market Share, Opines TMR
ALBANY, New York, July 20, 2020 /PRNewswire/ -- The clinical trial management systems market may expand on the back of the ubiquitous demand for novel therapeutic products across the pharmaceutical and biotechnology sector. In addition, the strengthening web of increased chronic disease-related caseload is serving as an opportunity for the clinical trial management systems market to record a good growth rate.
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According to the expert analysis by Transparency Market Research (TMR), the global clinical trial management systems market is anticipated to expand at a CAGR of 10.5% across the forecast period of 2019-2027. The global clinical trial management systems market was valued at US$ 1.4 bn in 2018.
The integration of cutting-edge technologies such as artificial intelligence (AI) and cloud computing may serve as a bridge of success toward growth for the clinical trial management systems market across the forecast period of 2019-2027. In addition, the potential of the clinical trial management systems to handle complex protocols in clinical trials may bring extensive growth for the clinical trial management systems market across the forecast period.
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Clinical Trial Management Systems Market: Key Findings
-- Research and development activities to take a front seat across the
forecast period
-- The cloud-based clinical trial management system may serve as a
prominent growth accelerator for the global clinical trial management
systems market across 2019-2027
-- The on-premise clinical trial management system is also expected to
record a leading market share throughout the forecast period
-- In the context of component, the software segment is predicted to hold
an important share of clinical trial management systems market; it also
acquired a major market share in 2018
-- The enterprise-based segment may observe a healthy CAGR across from 2019
to 2027
-- Pharmaceutical segment is expected to hold a prominent position among
the end-user segments
-- North America may bag the title of the key growth contributing region
Explore 241 pages of in-depth research, incisive insights, and detailed country-level projections. Analyze and discover the latest developments in the Clinical Trial Management System Market (Mode of Delivery - On-premise, Web-based, Cloud-based; Component- Software, Hardware, Services; Type - Enterprise-based, Site-based; End use - Pharmaceutical Industries, Contract Research Organizations, Health Care Providers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027 at https://www.transparencymarketresearch.com/report-toc/544
Clinical Trial Management Systems Market: Growth Boosters
The clinical trial management systems market will observe growth based on the productivity-enhancing capabilities and the efficacy quotient recorded across various clinical trials.
-- Technological advancements through intensive research and development
activities are bringing extensive growth opportunities for manufacturers
in the clinical trial management systems market
-- Large-scale investments by biotech and pharma companies with the support
of the government are proving to be a major growth generator for the
clinical trial management systems market
-- Developments in software for efficient clinical trial data management
may have a positive influence on the growth of the clinical trial
management systems market
-- Mergers, acquisitions, and partnerships may serve as robust growth
pillars for the clinical trial management systems market
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How can COVID-19 Outbreak Influence Growth of Clinical Trial Management Systems Market?
The COVID-19 pandemic has bruised many aspects be it personal, financial, or mental. The need for an effective vaccine is being echoed across the world. Many scientists, researchers, and manufacturers have united to create a promising vaccine for COVID-19. Clinical trials are ongoing in several countries for potential COVID-19 vaccines. For efficient clinical trial procedures, the demand for clinical trial management systems has skyrocketed greatly. This factor may help the clinical trial management systems market to climb the ladder of growth at a rapid pace. Collaborations for developing efficient clinical trial management systems arealso gaining considerable momentum.
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Global Clinical Trials Management System Market: Segmentation
By Mode of Delivery
-- Cloud-based
-- On-premise
-- Web-based
By Component
-- Hardware
-- Services
-- Software
By Type
-- Enterprise-based
-- Site-based
By End-user
-- Pharmaceutical Industries
-- Contract Research Organizations (CRO)
-- Health Care Providers
By Region
-- North America
-- Europe
-- Asia Pacific
-- Rest of the World (RoW)
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Regulatory Affairs Outsourcing Market: Recent findings by Transparency Market Research state that the global regulatory affairs outsourcing market will exhibit a healthy 10.1% CAGR from 2017 to 2023. As a result, the market, which had a valuation of US$3,234.4 million in 2017 will rise to US$5,746.5 million by 2023.
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