The North America clinical trial management market growth is anticipated to progress at a CAGR of 12.08% during the forecast period, 2022-2030. The region conducts clinical trials on a large scale. Also, the high awareness of CTM (clinical trial management) benefits and major pharmaceutical companies’ presence propel market growth.
The United States and Canada are assessed for the North America clinical trial management market growth evaluation. In Canada, the growing trend of decentralization has enabled the scope of testing, with private players entering the segment. The clinical laboratory of the country receives funding from the Ministry of Health. The public labs, physicians’ offices, private labs, and hospital labs generate revenue for diagnostics testing. Also, private labs are set to be integrated with hospital labs for clinical diagnostics. Many tests outsourced from the US are projected to benefit the market growth. The clinical laboratories are impacted by multiple trends, which affect the overall healthcare system. The rising deployment of new technologies like artificial intelligence and test automation has resulted in labs quickly adapting to shifting demographics.
Furthermore, the growing investments in clinical trials are accredited to its world-leading higher education system and the publicly-funded healthcare system. Also, the government is initiating several steps to increase R&D capabilities. Such developments are expected to influence market growth in Canada.
Some of the major companies in the market include Bioclinica Inc, Parexel International Corporation, Veeva Systems Inc, Mednet Solutions Inc, etc.
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