The global clinical trial management market was valued at $570 million in 2016 and is estimated to reach $1,371 million by 2023, registering a CAGR of 13.4% from 2017 to 2023. Clinical trial management system (CTMS) is a software used for managing clinical trials of usually biotechnology and pharmaceutical industries. The high efficiency of the system to maintain & manage plans, perform & report functions, as well as store participant contact information, and track deadlines boost the market growth.
Increase in adoption of the clinical trial management system (CTMS) in clinical trials, growth in the number of clinical trials, increase in trend of outsourcing of clinical trials, favourable government initiatives supporting the use of CTMS, and increase in awareness regarding the benefits of using CTM. However, dearth of skilled professionals to operate advanced CTMS solutions and high cost and data security issue of CTMS solutions restrain the market growth. Conversely, a rise in R&D activities and expenditure of pharmaceutical and biopharmaceutical companies provides lucrative opportunities for market growth.
Major Key Players of the Clinical Trial Management (CTM) Market are:
Oracle, Medidata Solutions, Parexel, BioClinica, Bio-Optronics, IBM, MedNet Solutions, Veeva Systems, Forte Research Systems, Merge Healthcare Incorporated
Read More @ http://www.sbwire.com/press-releases/clinical-trial-management-ctm-market-to-register-unwavering-growth-during-to-2023-oracle-medidata-solutions-parexel-bioclinica-1284831.htm
Increase in adoption of the clinical trial management system (CTMS) in clinical trials, growth in the number of clinical trials, increase in trend of outsourcing of clinical trials, favourable government initiatives supporting the use of CTMS, and increase in awareness regarding the benefits of using CTM. However, dearth of skilled professionals to operate advanced CTMS solutions and high cost and data security issue of CTMS solutions restrain the market growth. Conversely, a rise in R&D activities and expenditure of pharmaceutical and biopharmaceutical companies provides lucrative opportunities for market growth.
Major Key Players of the Clinical Trial Management (CTM) Market are:
Oracle, Medidata Solutions, Parexel, BioClinica, Bio-Optronics, IBM, MedNet Solutions, Veeva Systems, Forte Research Systems, Merge Healthcare Incorporated
Read More @ http://www.sbwire.com/press-releases/clinical-trial-management-ctm-market-to-register-unwavering-growth-during-to-2023-oracle-medidata-solutions-parexel-bioclinica-1284831.htm
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