Clinical Trial Management System Market by Type, Delivery Mode, Component and End User - Global Industry Analysis and Forecast to 2025
Clinical data management refers to the collection, integration and validation of clinical trial data. Prolonged durations and huge expenses associated with clinical trials have prompted the need for improving the operational efficiency of clinical trials. As a result the industry is showing increasing reliance on an array of IT enabled clinical trial management systems (CTMS) in order to ensure better managerial control on the trial runs. These systems enable the researchers to efficiently plan, prepare for, perform and report the clinical trials. CTMS is a web based software application which has the essential clinical workflow processes embedded in its operations. CTMS systems are employed to enhance clinical research infrastructure through IT driven enterprise integration that provides enterprise-wide trial management solution to the clinical research community. These systems can effectively replace traditional decentralized methods of recording clinical research activities and outcomes.
CTMS can be effectively used as central trial dashboards by the site personnel to get an overall view and understanding of the trial progress. Better strategic planning can be achieved using CTMS solutions as trials proceed through different stages. Information collected during clinical trials is highly complicated and vast in nature. This information is periodically processed through multiple simulations, regression and other models which results in generation of huge amount of unstructured data. CTMS systems act as real time, accurate online study information portals where researchers can have access to interpretations of real time data thus significantly accelerating the study process. CTMS performs a dual function of streamlining mundane administrative activities as well as assisting in research activities. CTMS are usually used in web-based, on premise and cloud based forms. Web based CTMS systems are commonly used by all types of end users. As a cloud based CTMS has large storage capacity and centralized data availability, adoption of such systems can increase in coming years.
The key factor contributing to the growth of CTMS market is the increasing R&D expenditure by life-science and clinical research industries to streamline and enhance clinical workflow. With prevalence of robust IT infrastructure in developed economies the demand for CTMS solutions will witness favorable growth over coming years. As the trend of outsourcing clinical trials to specialized firms is on the rise, the demand for CTMS solutions will increase in coming years along with the need for routine access, monitoring and interpretation of clinical trial data. However, dearth of skilled professionals to operate sophisticated CTMS systems can hamper the market growth to some extent.
The major players operating in the clinical trial management system market compete on the basis of product, technology and performance. For instance, in December 2015, PAREXEL International Corporation, a leading provider of biopharmaceutical services, launched the IMPACT Express Clinical Trial Management System which provides cost effective, quick to implement trial management solution for small to mid-sized biopharmaceutical companies.
Many of the key pharmaceutical players outsource their clinical trial functions to specialized firms in order to concentrate on their core competencies such as manufacturing and marketing of their pharmaceutical products. Some of the key players in the global CTMS market are, PAREXEL International Corporation, Oracle Corporation, Medidata Solutions, Inc., MedNet Solutions, Inc., BioClinica, Bio-Optronics, Inc., Forte Research Systems, Inc. and Data MATRIX Ltd.
Clinical Trial Management System Market Segmentation
By Type:
- Site Based CTMS
- Enterprise Based CTMS
By Delivery Mode:
- On-Premise
- Web-Based
- Cloud-Based
By Component:
- Software
- Service
By End User:
- Pharmaceutical & Biotechnology Firms
- Medical Device Firms
- Contract Research Organizations (CROs)
- Others
By Region:
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Brazil
- South Africa
- Saudi Arabia
- Turkey
- United Arab Emirates
- Others
Research Methodology
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data Mining
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
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Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
Data Validation
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Data Triangulation
Industry Analysis
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Quantitative Data (2017-2025) |
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