Clinical Trial Management System Market Analysis Highlights the Impact of COVID-19 (2020-2024) | Increasing Outsourcing of Clinical Trial Process to Boost Market Growth | Technavio

LONDON–(BUSINESS WIRE)–#ClinicalTrialManagementSystemCTMSMarket–Technavio has been monitoring the clinical trial management system market and it is poised to grow by USD 504.00 million during 2020-2024, progressing at a CAGR of almost 11% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts

Frequently Asked Questions-

• What was the size of the clinical trial management system market in 2019?

• Technavio says that the value of the market was at USD 760.60 million in 2019 and is projected to reach USD 1264.60 million by 2024.

• Based on segmentation by end-user, which is the leading segment in the market?

• The pharmaceutical and biotechnology companies segment.

• At what rate is the market projected to grow? (Read more…)

• The market will grow at a CAGR of almost 11% during the forecast period.

• Who are the top players in the market?

• ArisGlobal LLC, Bioclinica, Bio-Optronics Inc., Dassault Systemes SE, DATATRAK International Inc., International Business Machines Corp., Medpace Holdings Inc., Oracle Corp., Parexel International Corp., and Veeva Systems Inc. are some of the major market participants.

• What are the key market drivers and challenges?

• An increase in the outsourcing of the clinical trial process and increasing healthcare expenditure are the major factors driving the market. However, the rising cost of clinical trials restraints the market growth.

• How big is the North American market?

• The market in the North America region was valued at USD 349.88 million in 2019 which is anticipated to grow at USD 571.60 million during 2024.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ArisGlobal LLC, Bioclinica, Bio-Optronics Inc., Dassault Systemes SE, DATATRAK International Inc., International Business Machines Corp., Medpace Holdings Inc., Oracle Corp., Parexel International Corp., and Veeva Systems Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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An increase in the outsourcing of the clinical trial process has been instrumental in driving the growth of the market.

Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Clinical Trial Management System Market 2020-2024: Segmentation

Clinical Trial Management System Market is segmented as below:

• End-user
  • Pharmaceutical and Biotechnology Companies
  • CROs
  • Other
• Geography
  • North America
  • Europe
  • Asia
  • ROW

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43269

Clinical Trial Management System Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The clinical trial management system market report covers the following areas:

• Clinical Trial Management System Market Size
• Clinical Trial Management System Market Trends
• Clinical Trial Management System Market Analysis

This study identifies increasing healthcare expenditure as one of the prime reasons driving the clinical trial management system market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Clinical Trial Management System Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist clinical trial management system market growth during the next five years
• Estimation of the clinical trial management system market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the clinical trial management system market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of clinical trial management system market vendors

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

• Five Force Summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by End-user

• Market segments
• Comparison by End-user
• Pharmaceutical and biotechnology companies – Market size and forecast 2019-2024
• CROs – Market size and forecast 2019-2024
• Others – Market size and forecast 2019-2024
• Market opportunity by End user

Customer Landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America – Market size and forecast 2019-2024
• Europe – Market size and forecast 2019-2024
• Asia – Market size and forecast 2019-2024
• ROW – Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography

Volume Driver – demand-led growth

Market Challenges

Market Trends

Vendor Landscape

• Vendor landscape
• Landscape disruption
• Competitive scenario

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• ArisGlobal LLC
• Bioclinica
• Bio-Optronics Inc.
• Dassault Systemes SE
• DATATRAK International Inc.
• International Business Machines Corp.
• Medpace Holdings Inc.
• Oracle Corp.
• Parexel International Corp.
• Veeva Systems Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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