Global Clinical Trial Management System Market Segmentation and Analysis by Recent Trends, Development and Growth by Regions to 2018-2026
The Clinical
Trial Management System (clinical trial management systems) is an
integrated software designed to manage the clinical trial data system
used by biotech and pharma companies, it provides customizable
functions with advanced technology and tools, which help reduce time
and cost during clinical trial by helping to manage large and complex
clinical trial data. Also, clinical trial management systems provides
various benefits such as easy access to data from various client
locations, sharing of information function, data maintenance and
security, avoids complexity of administration and helps to manage
clinical trials conducted at various locations by providing access to
more than one user simultaneously.
However, companies,
especially in unindustrialized economies are still inclined towards
use of rudimentary tools such as spreadsheets for database
management, mainly due to lack of awareness about clinical trial
management systems and also cost concerns is the growth restraining
factor in clinical trial management systems market.
Some of the major
companies offering clinical trial management systems are Oracle
Corporation, Medidata Clinical Cloud, Veeva Systems, Infosys,
Bio-Optronics, BioClinica, and MedNet Solutions.
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There are two type
of clinical trial management systems available and are categorized on
the basis of mode of delivery- Cloud based clinical trial management
systems and On-premise clinical trial management systems. The
Cloud-based/web-based are among the most widely used clinical trial
management systems solutions, as it allows for high customization as
per requirement, faster turnaround time, and low costs as compared to
on-premise clinical trial management systems solutions. Increasing
security concerns related to clinical trials data drive companies,
especially those focusing on patenting products, also some companies
need customization according to their business need, in this cases
those companies opt for on-premise clinical trial management systems.
High awareness about
the technology for clinical trial management driving the growth of
clinical trial management systems market in developed regions
Developed economies
such as the U.S., Canada, Germany, Italy, U.K., Australia, Japan and
France have well established infrastructure that can support new
technologies and being the leading pharmaceutical markets globally,
these economies are well backed with funds for improving process
efficiencies. As, most major players in the industry are based in
North America and Europe they make clinical trial management systems
system easily available to clients.
The pharmaceuticals
sector is highly competitive, with companies vying to achieve first
mover advantage, in turn making clinical trials a crucial element.
Thus, major players in the market are focusing on integrating
clinical trial management systems. The last couple of decades have
witnessed robust growth in trade and commerce, with companies across
sectors no longer inhibited by physical boundaries. This has enabled
companies, including pharmaceuticals manufacturers to tap in to
diverse geographical markets in order to increase their consumer base
and in turn exponentially increase profits.
The clinical trials
helps companies overcome regulatory barriers for drug approval, as
they are not restricted to just one market, to conduct trials for
rare diseases at diverse locations provides results from humans with
different genetic structure, in turn enabling a more complete and
effective solution catering to diverse patient population.
Contract research
organizations (CROs) segment is expected to drive growth of the
clinical trial management systems market
There is lack of
adequate infrastructure to conduct clinical trials in emerging
economies such as India, Brazil, Argentina, and Iran. Therefore,
preferable way for conducting clinical trials in emerging economies
is to outsource clinical trials management systems. The companies are
mainly focusing on core aspects such as product development and
cost-effective methods for the production. This has led to emergence
of various CROs, especially in the Asia Pacific region.
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