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As mentioned in this research report, the global market for clinical trial management is likely to register growth at a CAGR of 10.92% over the period of 2021-2028.
Factors such as an alarming rise in chronic diseases, a surge in R&D activities in the medical sector, and benefits offered by CTM software are stimulating the growth of the reviewed market over the forecasted period. Additionally, the increase in clinical trials is opening new avenues for the market during the registered period.
However, concerns regarding the security of CTM systems, along with the high initial cost of implementation, are limiting the global market's growth. The high costs of installing and maintaining CTM software have made the researchers and pharmaceutical companies rethink investing in these systems, obstructing the market's progress.