US clinical trial management systems market to grow at 13% a year

The US clinical trial management systems (CTMS) market is poised for steady growth through 2008, achieving a five-year compound annual growth rate (CAGR) of nearly 13%, a new research study from Life Science Insights reveals. Analysts expect the market for CTMS software licenses to grow during the same forecast period, from $193 mln to $360 mln. While component technologies, such as EDC, play a major role in these markets, systems designed to manage multiple aspects of clinical trial management will drive adoption of CTMS among pharmaceutical and biotechnology companies.