Clinical Trial Management System Market to Develop at 14.0% CAGR from 2014 to 2019, Fuelled by Increasing Mergers and Acquisitions: Transparency Market Research

Albany - NY, Sept. 14, 2015 (GLOBE NEWSWIRE) -- A market study on the global clinical trial management system (CTMS) market, published by Transparency Market Research (TMR) pegs the overall value of this market at US$844 mn in 2013. Analysts at TMR have estimated that the worldwide CTMS market will be developing at an impressive 14.0% CAGR during the period from 2014 to 2019.

The research report, titled "Clinical Trial Management System (CTMS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2019", estimates the total market value of the global CTMS market by 2019 to be US$1,848.5 mn.

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The market study emphasizes on the main reasons for the development of the global CTMS market. According to report, the rise in the investment for research and development in the pharmaceutical industry is driving this market to a great extent. Apart from this, the increased frequency of diseases in the global arena is also fueling the CTMS market across the globe.

Further, the report states that the integration of CTMSs with hospital information systems and increased outsourcing for clinical research and implementation of clinical trials carried out by contract research organizations are expected to stimulate the global CTMS market during the forecast period.

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On the other hand, the time taken for the approval of clinical trials is posing a big challenge for the smooth growth of this market. Additionally, stringent rules and regulations for the enrolment of patients for clinical trials are also making things tough for the market players. However, the increase in partnerships and collaborations among established players and new entrants, resulting is rise in mergers and acquisitions is expected to drive the global CTMS market during forecast period, states the research report.

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The report studies the global CTMS market on the basis of its regional distribution. North America, Asia Pacific, Europe, and the Rest of the World are the regional markets of this industry, among which North America emerged as the largest market for CTMS owing to the high value of the approval of the U.S. FDA. In a report, the U.S. National Institute of Health (NIH) has stated that 56,981 clinical trials were conducted in the U.S in 2011.

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The CTMS market in Europe is also showing considerable rise, notes the market study. The abundant opportunities provided by the countries in Eastern and Central Europe to major life science organization for clinical development fuels the growth of the European CTMS market. Further, the report anticipates the CTMS market in Asia Pacific to report the fastest growth among all the regional markets for CTMS.

Other Reports Published by Transparency Market Research:

Aris Global, Bio-optronics Inc., Bioclinica Inc., Business Systems Integration, DSG Inc., Digiport Holdings Pvt. Ltd., Eresearch Technology Inc., GoBalto, Forte Research Systems, InnovoCommerce LLC, Medidata Solutions, Integrated Clinical Solutions Inc., Mednet Solutions, Nextrials Inc., Merge Healthcare Inc., Omnicomm Systems Inc., Oriam, Oracle Corp., Parexel Int. Corp., StudyManager Inc., and Sparta Systems Inc. are some of the major companies operating in the global CTMS market.

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The global clinical trial management system (CTMS) market is segmented into:

By Delivery Mode

  • Cloud based clinical trial management system
  • Web based clinical trial management system
  • On-premise clinical trial management system

By End User

  • Pharmaceuticals
  • Clinical Research Organizations
  • Healthcare providers

By Type

  • Enterprise based clinical trial management system
  • Site based clinical trial management system

By Components

  • Software
  • Hardware
  • Services

By Region

  • North America
  • Europe
  • Asia
  • Rest of the World (RoW)

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About Us:

Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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Source:Transparency Market Research