CLINICAL TRAIL SYSTEM

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Clinical trial management system is software which helps to plan, prepare, and manage a large amount of clinical trial data that is produced by biotechnological and pharmaceuticals companies. The system utilizes different models of simulations and regressions to store and interrupt vast amount of unstructured data obtained during clinical trial. Furthermore, management of data tracking, monitoring, assistance in business analysis, physicians data sharing, and among others are some of the major factors influencing market growth. Moreover, it also helps in deciding safety parameters of product undergoing clinical trial. In addition to this, moderate cost of healthcare delivery services, time saving, and efficiency in patient data collection and report formation are positively influencing the market growth during the forecast period. For instance, the clinical trail management system market was valued at 570 million USD in 2016 and is estimated to be valued at 1371 million USD by 2026.

Global clinical trial management system is segmented on the basis of product, component, delivery mode, end users, and region. Based on product the market is bifurcated into enterprise based and site based. Based on component the market is classified into software, hardware, and services. Based on delivery mode the market is characterized into web based, on premises, and cloud based. Based on the end users the market is classified into pharmaceutical, bio pharmaceutical, clinical research organization, and healthcare providers, and based on region the market is segmented into North America, Europe, Asia Pacific, Middle East, Latin America and Africa.

Some of the major factors driving the market growth are rise in chronic diseases, increase in patient flow to hospitals, clinics, and among others, quality management of data, rise in clinical trial, and easy data sharing. According to research studies, it is anticipated that the number of clinical research studies increased from nearly 32,294 cases in 2016 to 52,000 cases by 2026. Furthermore, technological advancements such as SAAS (software as a service), IAAS (infrastructure as a service), PAAS (platform as a service), cloud based computing offers greater support to clinical trail managers to maintain and manage efficient data in real-time. Moreover, clinical data can be easily be accessed from any device which includes mobile, workstations, laptop, and tablet through software. Emerging opportunities such as SAS (statistical analytical software) are triggering the growth of market. However, data duplicacy, security maintenance of data, lack of trained manpower, and among others are the factors that hinder the market growth during the forecast period.

Geographically, the market is segmented into North America, Europe, Asia Pacific, Middle East, Latin America and Africa. North America is dominating the market owing to early adoption of technology, improved healthcare infrastructure, and favorable regulatory policies. Asia Pacific due to outsourcing of clinical trials in countries such as China and India due to presence of geriatric patient pool and low-operating cost of conducting clinical trials in these countries will further accelerate business growth.

Some of the key players of the clinical trial management system are Forte Research Systems Inc., eClinForce, Inc., Oracle, Medidata Solutions, iWeb Technologies, PAREXEL, Bioclinica, Bio-Optronics, Medpace Holdings Inc. and Clinical Data Inc.