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The Worldwide Clinical Trial Management Industry is Expected to Reach $2.8 Billion by 2030 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Clinical Trial Management Market by Type, Delivery Mode, Component, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030” report has been added to ResearchAndMarkets.com’s offering.

The global clinical trial management market was valued at $969.4 million in 2020, and is estimated to reach $ 2,810.5 million by 2030, growing at a CAGR of 11.2% from 2021 to 2030.

Clinical trials are usually conducted to test efficacy and safety of any new product ranging from drugs to medical devices. Clinical trial management (CTM) systems utilize different models of simulation and regression to store and interpret vast amount of unstructured data generated during different clinical trials.

These systems help maintain and manage clinical trials conducted by different pharmaceutical companies and clinical research organizations. In addition, these systems make it easier to track and monitor participants involved in the trial, site selection, identify & enroll different subjects, and analyze vast amount of data. Analysis of such data helps in deciding safety parameters of products undergoing clinical trial.

Growth of the global clinical trial management market is majorly driven by large demand for novel therapeutic drugs and medical devices drive growth of the market. Moreover, increase in prevalence of chronic diseases, surge in trend of outsourcing of clinical trials, and increase in awareness regarding benefits of using CTM fuels growth of the clinical trial management market. However, high cost associated with CTM and dearth of skilled professionals hamper the market growth.

The global clinical trial management market is segmented on the basis of type, delivery mode, component, and end user, and region. By Type, the market is categorized into enterprise-based and site-based. On the basis of component, it is divided into software and service. By end user, it is divided into pharmaceutical & biopharmaceutical companies, clinical research organizations, and healthcare providers. Region wise, the clinical trial management market is divided into North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

Key Market Segments

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Key Players

For more information about this report visit https://www.researchandmarkets.com/r/uggovp

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