Most Widely Adopted Growth Strategies by the Players in the Clinical Trial Management Systems Market

(IT-NEWSWIRE.COM, January 16, 2019 ) The global Clinical Trial Management Systems 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.

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 clinical trial management systems market.

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Among these business strategies, product enhancements, agreements, and partnerships were the most widely adopted growth strategies by the players in the clinical trial management systems market.

Oracle (US) held the leading position in the global clinical trial management systems market in 2016. The company is one of the top players in the clinical trial management systems 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 clinical trial management systems 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 clinical trial management systems market. In 2017, the company partnered with Karyopharm Therapeutics (US) to renew its Medidata Clinical Cloud platform.

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Most Widely Adopted Growth Strategies by the Players in the Clinical Trial Management Systems Market