According to the recent research report titled ‘Global Clinical Trial Management Market 2021-2028’, available with Market Study Report, global clinical trial management market is projected to multiply with a CAGR of 10.92% over 2021-2028.
 

Increasing research & development in medical sector and rising prevalence of chronic diseases are propelling global clinical trial management market growth. Moreover, rising number of clinical trials and benefits offered by software specifically designed for managing clinical trials are also adding to the industry progression.
 

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Considering restraints, lack of skilled workers, and concerns regarding security of clinical trial management (CTM) systems are likely to hinder the market growth. Further, high implementation and maintenance costs associated with CTM software have forced researchers and pharmaceutical firms to reconsider investing in these systems.
 

Based on deployment mode, the market is split into cloud-based deployment, on-premise deployment, and web-based deployment. As per component gamut, the industry segmentation comprises services, hardware, and software.
 

Moving on to product type, global clinical trial management market is categorized into site-based CTM and enterprise-based CTM. Speaking of end user scope, the industry is bifurcated into healthcare providers, clinical research organizations, and pharmaceutical & biopharmaceutical companies.
 

Elaborating on geographical landscape, Latin America, Asia Pacific, Europe, North America are the top contributors to the overall market remuneration. Of these, Asia Pacific industry is slated to amass notable gains by the year 2028, owing to developing research & development sector, booming population, and rising cognizance about clinical management products in the region.
 

Presence of advanced healthcare infrastructure, along with spike in healthcare reforms, and increasing inclination of leading manufacturers towards expanding their geographical reach are also positively swaying the regional industry dynamics.
 

Prominent firms influencing global clinical trial management market trends are Veeva Systems Inc., Parexel International Corporation, Mednet Solutions Inc., IBM Corporation, Oracle Corporation, Advarra (Forte Research Systems Inc.), Bio-Optronics Inc., BioClinica Inc., ArisGlobal LLC, and Medidata Solutions Inc.
 

Experts state that introduction of new CTM software with advanced features, investments in R&D, and other strategic undertakings like partnerships and acquisitions will play a pivotal role in shaping the competitive dynamics in the forthcoming years.