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Global Clinical Trial Management System (CTMS) Market Expanding at 12.6% CAGR During 2017-2025
CTMS Market Report 2017-2025 by Goldstein Research
According to Goldstein Research, Clinical Trial Management System Market is expected to grow at 12.6% CAGR over the forecast period 2017-2025. Significant modifications in clinical trial internal and external environment have majorly motivated an essential development in the information systems landscape. Moreover, the application of big data analytics technology is also supporting research organizations in enhancing the efficiency of clinical trials. big data analytics in the healthcare sector is growing at 18.6% CAGR during the forecast period is providing huge application opportunities in the clinical trial management system across the world.
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Furthermore, Biopharmaceuticals Market is expanding at fast growth rate such that in 2017, US FDA has approved 56 new medicines, which is recorded as the highest number of approvals in the past 2 decades. Such developments are increasing the burden on research companies in terms of efficiency, speed, and accuracy of clinical trials and is primarily driving the demand in the market.
By System Type
By Deployment Type
- Web Hosted
By Component Type
By End Users
- Pharmaceutical & Biotechnology Firms
- Contract Research Organizations (CROs)
- Medical Device Firms
- Others (Universities etc.)
Further, The Report encompasses the key factors driving the growth of the market, opportunities in the market and the factors posing threats & challenges to the market. The clinical trial management system market outlook also comprises the market dynamics, risk analysis, SWOT analysis, USP analysis
Clinical Trial Management System Market is driving on the basis of advancement in branches of healthcare mentioned below:
Artificial Intelligence in Healthcare Sector
In the healthcare sector artificial intelligence uses software and algorithms to predict the diseases by analyzing the complex medical data. Rising need for handling and storage of big data effectively, generated by the healthcare sector will propel the growth of global Artificial Intelligence Market in Healthcare Sector
Big Data Market
Big data and cloud computing is a perfect combination mainly for addressing security concerns. The constant evolution of big data and cloud computing is providing cost-effective, efficient and powerful infrastructures to support business analytics. Big Data Market is expected to grow at a CAGR of 22.4% during the forecast period and reach USD 200 billion by 2024. Moreover, the Europe Big Data Market to expand at a CAGR of 19.1% during the forecast period 2016-2024. Further, the market is anticipated to reach USD 35.0 billion by the end of the forecast period.
Cloud Computing In Healthcare Industry
cloud computing in healthcare sector is likely to thrive with the emergence of new technologies and surge in digitalization of medical procedures and demand for analytic solutions. Further, the cloud computing in healthcare industry is expected to expand at a CAGR of 20.4% over the forecast period and the major growth regions are likely to be the Europe and Asia Pacific.
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