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As per The Business Research Company’s Clinical Trial Management System Global Market Report 2023, The global clinical trial management system market is expected to grow from $1.5 billion in 2022 to $1.73 billion in 2023 at a compound annual growth rate (CAGR) of 14.7%. The clinical trial management system market is expected to reach $2.84 billion in 2027 at a CAGR of 13.2%.

What was the major driver in the clinical trial management system market?
The increasing number of clinical trials is expected to propel the growth of the clinical trial management system market. Clinical trials are research studies conducted on human participants to evaluate the safety, efficacy, and potential benefits of new medical treatments, interventions, or drugs. Clinical Trials Management Systems (CTMS) are software platforms designed to streamline and facilitate the management of clinical trials. For instance, in May 2023, according to ClinicalTrials.gov, a part of the National Institutes of Health (NIH), a US-based government agency responsible for conducting and supporting medical research, the number of registered clinical trials studies increased from 399,499 in 2022 to 437,533 in all 50 states of the United States and across 221 countries. Further, it was reported that 140,492 studies (31%) are registered in the U.S. only, while 241,498 studies (53%) are recorded in non-U.S. locations. Therefore, an increasing number of clinical trials will drive the growth of the clinical trial management system market.

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What was the key trend in the clinical trial management system market?
Technological advancements are the key trend gaining popularity in the clinical trial management system market. Major companies operating in the clinical trial management system market are concentrating on creating innovative product technologies to strengthen their position in the market. For instance, in June 2023, Saama Technologies, Inc., a US-based provider of clinical development software and services, launched a unified platform of Software as service-based products that complement its existing artificial intelligence and machine learning-based solutions, facilitating faster clinical development and commercialization. The platform automates key clinical trial management processes, reducing query generation times by up to 90% and achieving significant time savings in study data transformation and analysis. It offers a comprehensive view of trial operations and patient progress in a single location.

Which was the largest region in the clinical trial management system market?
North America was the largest region in the Asia Pacific market in 2022. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in clinical trials management system report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the clinical trial management system market prominent players?
Major players in the clinical trial management system market are International Business Machines Corporation, Oracle Corporation, Cognizant Technology Solutions India Private Limited, Laboratory Corporation of America Holdings, Wipro Limited, Veeva Systems Inc, Medidata Solutions, BioClinica Inc., Calyx, Clario, Advarra Inc, ArisGlobal LLC, MasterControl Solutions Inc., Medrio Inc., Anju Software Inc., Forte Research System Inc, Cmed Clinical Services, OmniComm Systems Inc., MedNet Solutions Inc., DSG Inc., eClinical Solutions LLC, Bioclinical Partners (BCP), Flex Databases, DataTrak International Inc., OpenClinica LLC, SimpleTrials, PHARMASEAL International Ltd, Dacima Software Inc., and RealTime Software Solutions LLC.

Key clinical trial management system market segments
The global clinical trial management system market is segmented –
1) By System Type: Enterprise Based Clinical Trial Management System, Site Based Clinical Trial Management System
2) By Component: Software, Services, Hardware
3) By Mode Of Delivery: Cloud Based Clinical Trial Management System, Web Based Clinical Trial Management System, On-Premise Clinical Trial Management System
4) By End-User: Pharmaceutical And Biopharmaceutical Companies, Medical Device Manufacturers, Clinical Research Organizations (CRO), Other End-Users

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The Clinical Trial Management System Global Market Report 2023  provides a comprehensive overview on the clinical trial management system market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

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