According to the research report titled ‘Asia Pacific Clinical Trial Management System Market Forecast 2027 By End-use, By Component, By Product, By Delivery Mode, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Asia Pacific clinical trial management system market is set to generate revenues worth USD 425.6 million by 2027.
 

As per report findings, outsourcing of clinical trials to developing nations, increasing volume of clinical trials, and high R&D spending by clinical research & life science industries are primarily driving Asia Pacific clinical trial management system (CTMS) market growth.

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Additionally, increasing incidence of chronic diseases, coupled with an uptick in innovation of medical technologies are boosting the industry expansion.

Notably, biotech, pharma and other research-focused companies are increasingly upping their efforts on clinical trials amidst surging R&D costs in India and China. Moreover, developments in mobile technology & cloud infrastructure have boosted digitization of CTMS, thereby impelling market remuneration.

Despite the positive outlook, high costs of maintaining a clinical trial management system is likely to impede market growth over the upcoming years.

Based on product type, Asia Pacific clinical trial management system industry is split into enterprise based, and site based. By end user scope, the business vertical is split into pharmaceutical & biopharmaceutical companies, clinical research organization (CRO) and others.

Moving on to component type, the market arena is bifurcated into software and services. Of these, services segment is estimated to record 13.3% CAGR through 2027, owing to heavy R&D expenditure and increasing adoption of robust solutions.

Considering delivery mode, the market classification comprises web based CTMS, cloud based CTMS, and on premise based CTMS. Cloud-based CTMS segment is slated to be worth USD 102.9 million by 2027, as these solutions are pivotal in unifying information and clinical processes for seamless service.

On the regional front, China clinical trial management system market is on track to register 13.2% CAGR through 2027, owing to favorable government initiatives and heavy investments in pharmaceutical companies. Moreover, increasing participation in clinical trials, and a low production rate will further bolster investment activity, thereby driving regional market growth in the upcoming years.

Prominent players in Asia Pacific clinical trial management system industry include Veeva Systems Inc., Parexel International Corp., Oracle Corp., Anju Software Inc., Merge Healthcare (IBM), Clario, Medidata Solutions Inc., Clinevo Technologies, Advarra Inc., DSG Inc., Datatrak International Inc., and Bio-Optronics Inc.