The global clinical trial management system market
is expected to grow at a CAGR of 12.6% between 2017 and 2022. Factors such as significant partnerships between
biopharma companies and CROs, rising number of clinical trials, availability of
advanced CTMS solutions, growing customer base for CTMS solutions, and rising
government funding & grants to support clinical trials are driving the
overall demand for CTMS across key markets.
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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.
Oracle (US) held the leading position in the global CTMS
market in 2016. The company is one of the top players in the CTMS market due to
its diversified geographic presence and large customer base, strong brand
image, and selective and active acquisition program and alliances. The company offers cloud-based CTMS. The company
has a strong geographic presence in over 175 countries across North America,
Europe, Asia, Africa, and South America. The company mainly focuses on expansions
and acquisitions to strengthen its dominant position in the market. For
instance, in 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.
Medidata Solutions, Inc. (US) held the second position in
the CTMS market in 2016. The company is one of the leading providers of cloud
(software-as-a-service) solutions and has strong partnerships with CROs and
pharmaceutical customers. Medidata is present in more than 130 countries with
more than 849 customers across the globe. The company primarily adopts the
strategy of partnerships to expand its presence in the CTMS market. In 2017,
the company partnered with Karyopharm Therapeutics (US) to renew its Medidata
Clinical Cloud platform.
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