Global Clinical Trial Management System Market

Novel and innovative methodologies have emerged in the industry to manage clinical trial information, from centralized data systems to mobile device integration.

Most big pharma and biotech companies are now increasingly adopting cloud-based CTMS (clinical trial management systems). This increased adoption of cloud-based CTMS is because companies do not require to bear huge costs associated with the purchase of servers, and installation and validation of applications, and their maintenance. The new and advanced cloud-based CTMS facilitate the collaboration among the different groups at various sites to coordinate the successful completion of a trial.

According to ClinicalTrials.gov, in 2017, 262,433 clinical trials were carried out worldwide, which increased to 285,679 trials in 2018. Whereas, in the United States, 115,123 studies were carried out. Thus, the rise in clinical trials in the region is expected to increase the demand for clinical trial management systems, which, in turn, is expected to aid the growth of the market studied in the United States, over the forecast period.

Oracle (ORCL) (US) is the leading player in the global CTMS solutions market. Oracle generated revenue of USD 11.1 billion in 2019.  The company’s diversified geographic presence and customer base contribute to its leading position in the market.

How Could Global Clinical Trial Management Market address the COVID-19 concern?

A randomized, controlled clinical trial to evaluate the safety and efficacy of the investigational antiviral remdesivir in hospitalized adults diagnosed with coronavirus disease 2019 (COVID-19) has begun at the University of Nebraska Medical Center (UNMC) in Omaha. The trial regulatory sponsor is the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health. This is the first clinical trial in the United States to evaluate an experimental treatment for COVID-19, the respiratory disease first detected in December 2019 in Wuhan, Hubei Province, China.

Clinical trials of remdesivir are also ongoing in China. NIAID developed the current study taking those designs into account, and in accordance with consultations convened by the WHO on the development of a therapeutic trial for patients with COVID-19.

Participants in the NIH-sponsored trial must have laboratory-confirmed SARS-CoV-2 infection and evidence of lung involvement, including rattling sounds when breathing (rales) with a need for supplemental oxygen or abnormal chest X-rays, or illness requiring mechanical ventilation.

Individuals with confirmed infection who have mild, cold-like symptoms or no apparent symptoms will not be included in the study. In accordance with standard clinical research protocols, eligible patients will provide informed consent to participate in the trial.

Global Clinical Trial Management System Market Landscape

The global clinical trial management system (CTMS) market size is expected to reach USD 1.62 billion by 2025 from USD 0.76 billion in 2017 and is projected to expand at a CAGR of 12.7% during the forecasted period (2017-2030).

Based on components, software sub-segment will attain a value of US$ 1.27 Bn by the end of the forecast period. The estimated CAGR for this segment is 13.9%, which is higher than that of the other two sub-segments, including hardware and services.

North America will remain a dominant segment and expand at a CAGR of nearly 13.6%. The dominance of North America is majorly attributed to the advanced healthcare infrastructure and dominance in the global healthcare IT industry.