The size of the European CTMS market was valued at USD 331.17 Million in 2022 and expected to reach USD 701.59 Million by 2027, to grow at a CAGR of 16.20% between 2022 to 2027.
Factors such as increasing outsourcing of clinical trials, Y-o-Y growth in the incidence of chronic diseases, and growing R&D activities are majorly driving the CTMS market growth in this region. It is further accelerated by the European government's increasing investments towards healthcare, and easy accessibility of CTMS technologies is driving the market growth.
Furthermore, the rising number of healthcare service providers, erupting several healthcare end-users, which will boost further CTMS market. An increase in the obtainment of CTMS over the last few years has boosted market growth over the review period. Moreover, growing awareness and the requirement for the extra cost to be cut down are estimated to drive the market growth over the analysis period.
The high costs associated with the CTMS is estimated to hamper market growth slightly. The shortage of skilled professionals, particularly in developing countries, is aspiring the pharmaceutical and biotechnology firms are restraining the market growth. Stringent rules in different countries may lead to hard clinical trial protocols, which will restrain the growth of CTMS over the period. Moreover, the treatment process is a very lengthy procedure that may hamper growth. Having less awareness among the researchers regarding the benefits of the CTMS is impeding the market growth. Increasing clinical trial failures is obstructing the market. Strict and lengthy approvals for the products and therapeutics also restrict the growth over the period.
This research report segmented and sub-segmented the Europe clinical trial management system market into the following categories:
By Delivery Mode:
By End User:
By Type of System:
The European clinical trial management system market is anticipated to show promising growth and rise at a robust CAGR during the forecast period due to the increasing IT healthcare industry and the high authenticity of the level of information provided by CTMS.
The German CTMS market is anticipated to have the highest share of the region throughout the forecast period. The growth is projected due to a growing aging population within a short period of time, an increasing number of clinical trials, and a growing acquisition of CTMS.
The UK CTMS Market is the second-largest country of this region, followed by Germany, and the growth is owed to advanced technologies. Growing demand for new therapies is driving the UK market in CTMS. According to UK Research and Innovation, the number of processes carried out in medical research in 2018 was nearly 268,032.
Some of the prominent companies dominating the European CTMS market profiled in this report are Bioclinica, Bio-Optronics Inc., DATATRAK International Inc., ERT Clinical, IBM, Medidata Solutions Inc., MedNet Solutions, Inc., Oracle, Parexel International Corporation, and ArisGlobal.
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