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Clinical Trial Management System Market
Research Reports & Industry Analysis, 2016 –
2024
Clinical trial management system market size is anticipated to exceed USD 2 billion
by 2024; according to a new research study by Global Market Insights, Inc.
Growing prevalence of chronic diseases, surge in clinical trials outsourcing, rising
R&D cost and favorable government initiatives will drive global clinical trial
management system market size.
Improvements in regulatory framework for drug approvals and patent laws along with
rapid economic development in emerging countries of India and China will expand
clinical trial management system market size. Quality trials at reduced cost
continues to remain unique proposition for regional industry growth.
Stringent regulatory guidelines to ensure drug safety & efficacy, extended approval
time, difficulties in recruitment for trials and increasing number of clinical trial failures
in phase II and phase III should hinder clinical trial management system market
growth. Hardware component was valued at over USD 90 million in 2015, and is
estimated to expand at 13.1% CAGR from 2016 to 2024. Pharmaceutical companies
are outsourcing their requirement to specialized firms in other regions. This has
resulted in increase in sales of hardware components used for clinical trial
management system.
Europe Clinical Trial Management System Market share, by component, 2012-
2024 (USD Million)
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Enterprise based accounted for over 70% of clinical trial management system market
share in 2015 and is projected to grow at 13.8% CAGR from 2016 to 2024. It
provides dedicated services with special in-house capabilities for clinical trials
management. Cloud delivery mode is projected to witness robust growth of over 15%
from 2016 to 2024 and expected to reach over USD 350 million by 2024. In terms of
revenue share, Web and On Premise together account for over 85% clinical tr