Clinical trial management system (CTMS) is an end-to-end software solution for planning, development, execution, and charting of clinical trials, which also includes participant information, trial and registration deadlines, and other landmark events.CTMS helps research centers and life sciences organizations attain efficacy and enhanced productivity of clinical trials by facilitating and managing clinical trials. Integrating CTMS with health information systems (HIS) leads to accuracy and economic benefits such as time and human resource saving, one of the primary factors to drive growth of the CTMS market.Additionally, high incidence of diseases has led to increased R&D activities in pharmaceutical, bio sciences, and clinical research sectors, which is offering several opportunities for the CTMS market. The global CTMS market was valued at US$844 million in 2013 and will exhibit an impressive 14% CAGR from 2013 to 2019 to reach US$1848.5 million in 2019.
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Software Sub-Segment to Dominate Global Clinical Trial Management Systems Market
The CTMS market is segmented on the basis of delivery modes of CTMS solutions, end users, types of CTMS solutions, components of CTMS solutions, and regional markets.Web-based CTMS solution delivery accounts for the highest revenue generation in the CTMS market. Of all the end users, the pharmaceutical sector accounts for the largest share of the CTMS market. On the basis of components of CTMS solutions, the software segment accounts as the lead revenue generator. The software segment of the market was valued at US$585 million in 2013 and is expected to reach US$1,274.2 million in 2019, growing at a healthy 13.9% CAGR between 2013 and 2019.
State-Funded Clinical Trials and Research to Allow U.S. to Lead Global CTMS Market
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