According to the research report titled ‘Asia Pacific Clinical Trial Management Systems Market Size By Product, End-use, Component, Delivery Mode, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, Asia-Pacific clinical trial management systems market is expected to surpass a valuation of USD 600 million by the year 2026.
 

Rising adoption of clinical trial management systems in biopharmaceutical and pharmaceutical companies is a major factor driving the market growth in Asia-Pacific. For the record, CTMS (clinical trial management system) is a software designed administer clinical trials in various clinical research processes.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2609884/
 

CTMS acts as a web-based, single and centralized enterprise resource that supports medical research studies. Thus, rising adoption to provide effective results is further aiding the expansion of Asia-Pacific clinical trial management systems market.
 

Increasing number of clinical trials to enhance development in medical practice and to improve therapeutic treatments is also stimulating the industry outlook. However, high costs of such systems may negatively impact Asia-Pacific clinical trial management systems market dynamics.
 

As per component type, the software component segment was worth USD 165 million in the year 2019 and is predicted to expand consistently during the forecast duration. Increasing awareness pertaining to the advantages of software systems such as quick product launches and data management solutions have augmented the Asia-Pacific clinical trial management system industry remuneration from software component segment.
 

Based on product landscape, site-based segment held 20% revenue share in Asia-Pacific clinical trial management systems market in the year 2019 and is expected to showcase significant growth in the subsequent years. Site-based systems provide various solutions in medical studies such as financial, protocol and visit management.
 

In terms of delivery mode, web-based segment is expected to reach a valuation of more than USD 155 million by 2026. Such delivery mode is user-friendly and flexible which further enables for easy, faster and cost-effective clinical trials.
 

Citing the end-user spectrum, pharmaceutical and biopharmaceutical companies segment is expected to grow with a CAGR of 13% through 2026. Rising adoption of CTMS for development of innovative drugs coupled with increasing R&D activities is fueling the segmental share.
 

Considering the geographical landscape, clinical trial management systems market in Japan generated revenues worth USD 100 million in the year 2019 and is poised to accumulate similar returns in the ensuing years. Other countries such as Taiwan, South Korea, China and India are also emerging to be lucrative growth opportunities for Asia-Pacific clinical trial management systems industry primarily due to favorable government initiatives to improve regional healthcare infrastructure.
 

The prominent companies operating in Asia-Pacific clinical trial management systems market are Veeva Systems Inc., Parexel International, Oracle Corp., OmniComm Systems Inc., Merge Healthcare (IBM Watson Health), Medidata Solutions Inc., MasterControl Inc., Forte Group, DSG Inc., DataTrak International Inc., and Bioclinica among others.