Major Market Developments:

# In October 2017, MedNet Solutions released the latest version of iMedNet with enhanced features.

# In November 2017, Medidata Solutions and Karyopharm Therapeutics partnered in order to integrate and develop their solutions, namely, CTMS and eRegulatory Solutions

# In May 2017, Oracle opened its Oracle Cloud EU Region in Germany, with the addition of modern infrastructure as a service (IaaS) architecture and new IaaS and platform as a service (PaaS) cloud services.

# In September 2017, Pamplona completed the acquisition of Paraxel and bought its shares in order to help PARAXEL increase its productivity.

Critical questions the report answers:

# Which of the end user segments would be driving the market growth during next decade for these software solutions; especially in Emerging countries?

# Emerging countries have immense opportunities for the growth of web-based (on-demand) segment, will this scenario continue?

# The enterprise-wise CTMS segment is expected to command the largest share across matured countries; how relevant On-Site CTMS solutions would be with changing user preferences?

# By how much is the clinical trial data management software segment larger than the services segment during 2017-2022?

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North America is expected to dominate the CTMS market during the forecast period

Geographically, the CTMS market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America is expected to account for the largest share of the global CTMS market during the forecast period (2017-2027). Factors such as rising number of on-going clinical trials (especially in the US), presence of leading players from both demand and supply sides, and government funding for clinical research are contributing to the large share of the North American region.

Key players in the clinical trial management systems market include Oracle Corporation (US); Medidata Solutions, Inc. (US); PAREXEL International Corporation, (US); Bioclinica, (US); Bio-Optronics, Inc. (US); and IBM (US); among others.

Analysis of the market developments between 2014 and 2017 revealed that several growth strategies such as product launches, enhancements, strategic acquisitions, agreements, partnerships, collaborations, and expansions were adopted by the market players to strengthen their product portfolios and maintain a competitive position in the CTMS market. Among these business strategies, product enhancements, agreements, and partnerships were the most widely adopted growth strategies by the players in the CTMS market.

Major End-Users of CTMS Services:

Pharmaceutical and Biopharmaceutical Companies

Pharmaceutical and biopharmaceutical companies are major end users of CTMS. Life science companies primarily utilize CTMS software solutions to manage clinical trials for newly developed drugs. The large market share of these companies is attributed to factors such as increasing applications of CTMS software in clinical trials for drugs and high investments by large pharma and biopharma companies for the development of Healthcare IT software.

Contract Research Organizations

A contract research organization (CRO) is an establishment that provides support to the pharmaceutical, biotechnology, and medical device industries in the form of research services outsourced on a contract basis. Research services include biopharmaceutical development, biologic assay development, commercialization, preclinical research, clinical research, clinical trials management, and pharmacovigilance. Rise in outsourcing of clinical trials by pharma and biotechnology companies to CROs is the key factor propelling the growth of this segment. In the past five years, the industry has witnessed a number of strategic alliances between contract research organizations and drug manufacturers.

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Medical Device Companies

Medical device companies use CTMS software solutions to manage clinical trials related to medical devices. Advancements in medical devices and their therapeutic capabilities and increasing stringency of regulatory approval bodies are driving the growth of this end-user segment in the clinical trial management system market. Government funding for development of innovative medical devices is also contributing to the rising demand for CTMS solutions among medical device companies.

Other End Users

The other end users segment includes hospitals and academic research institutes. Hospitals use CTMS solutions to manage their multiple active clinical research studies, patient tracking, improve recruitment and financial performance, and streamline data collection and reporting. Increasing IT budgets of hospitals is likely to drive the demand for the CTMS solutions. Increasing public and private funding to support research activities by academic institutions is a prime factor contributing to the growth of the CTMS market in this segment.

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