Clinical Trials Congress Market Analysis and Reports | singapore Conference Series

Market Analysis - Clinical Trials Congress 2018

Market Analysis

Improvements in regulatory framework for drug approvals and patent laws along with rapid economic development in emerging countries of India and China will expand clinical trial management system market size.  Quality trials at reduced cost continues to remain unique proposition for regional industry growth.

Stringent regulatory guidelines to ensure drug safety & efficacy, extended approval time, difficulties in recruitment for trials and increasing number of clinical trial failures in phase II and phase III should hinder clinical trial management system market growth. Hardware component was valued at over USD 90 million in 2015, and is estimated to expand at 13.1% CAGR from 2016 to 2024. Pharmaceutical companies are outsourcing their requirement to specialized firms in other regions. This has resulted in increase in sales of hardware components used for clinical trial management system.

Enterprise based accounted for over 70% of clinical trial management system market share in 2015 and is projected to grow at 13.8% CAGR from 2016 to 2024. It provides dedicated services with special in house capabilities for clinical trials management. Cloud delivery mode is projected to witness robust growth of over 15% from 2016 to 2024 and expected to reach over USD 350 million by 2024. In terms of revenue share, Web and On Premise together account for over 85% clinical trial management market share in 2015, growing at over 14% and 11.5% from 2016 to 2024 respectively.

Singapore is known to be looming the clinical trials and research sector in the current scenario. Now it has come to become the nucleus of the clinical research in the Asia Pacific region. It has been estimated that during the period 2010-2013, more than 250 Clinical Trial Certificates were issued annually. A major proportion of these studies would be in the Phase 1 to 3 stage of drug development. And from 2018 onwards it is estimated to be the leading share holder in the Clinical Trials and Research.