A Clinical Trial Management System (CTMS) is a software system used by biotechnology and pharmaceutical industries to manage clinical trials in clinical research. The system maintains and manages planning, performing and reporting functions, along with participant contact information, tracking deadlines and milestones.
Companies are having to conduct multiple clinical trials at the same time. They’ve got to be efficient. And comply with industry regulations. They need to be able to see and manage their clinical trials effectively so they can improve inefficiencies in the process, and get the data they need. Full transparency is needed from start to finish. This is why there’s been a move in the industry towards clinical trial software and cloud-based solutions.
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The global clinical trial software market size reached USD 900.3 Million in 2020 and is expected to register a revenue CAGR of 15.6%, during the forecast period, according to latest analysis by Emergen Research. Increasing prevalence of infectious and chronic diseases is a key factor driving global clinical trial software market revenue growth. Increasing targeted patient population has increased the need for faster drug development, which is leading to rising demand for clinical trial management solutions to simplify the complexities associated with clinical trial processes and to streamline the entire clinical research workflow.
Key Players Profiled in the Report are:
- Medidata Solutions
- International Machine Business Corporation (IBM)
- Oracle Corporation
- Parexel International Corp
- RealTime Software Solutions LLC
- MedNet Solutions
- Veeva Systems
- ArisGlobal LLC.
Increasing adoption of advanced technologies such as cloud-based solutions, biometric devices, Artificial Intelligence (AI), advanced analytics, connected devices, and wearables is significantly improving and streamlining clinical trials processes. Rapid development of new software applications have also contributed significantly in making clinical trials effective, reliable, and timely, and also enabled pharmaceutical and biotechnology companies and Contract Research Organizations (CROs) to conduct more successful clinical trials. Increasing availability of design tools, commercial databases, and security applications has enabled effective management of clinical trials ranging from data acquisition, data storage, electronic data capturing, Case Report Form (CRF) printing, preservation of CRF, and from data validation to site assessments.
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However, high cost of clinical trial software is a major factor expected to hamper global clinical trial software market growth to some extent during the forecast period.
Key recent developments in the market:
- In December 2021, Advarra (US), the market leader in clinical site technologies and research quality and compliance consulting services, launched Advarra Cloud. The next-generation platform broadens cloud deployment options for Advarra customers and delivers applications in an easy-to-use, fully managed environment.
- In April 2021, Bioclinica (US) introduced the new source document management solution that combines advanced software with redaction and translation services to offer support to global research sites and trial management teams.
- In April 2021, Calyx, the eClinical and regulatory solutions services provider, released Calyx CTMS v15.0, an advanced clinical trial management system on Azure cloud technology to reduce risk and improve efficiencies in clinical development.
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Emergen Research has segmented the global clinical trial software market on the basis of deployment, delivery, end-use, and region:
Deployment Outlook (Revenue, USD Billion; 2018–2028)
Delivery Outlook (Revenue, USD Billion; 2018–2028)
- Licensed Enterprise (On-Premise)
- Software as a Service (SAAS)
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Pharmaceutical Biotechnology Companies
- Contract Research Organizations (CROs)
- Medical Device Manufacturers
Major Geographies Covered in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Why should buy this market research report:
- To receive a exaustive analysis of the prospects for the global clinical trials software market
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- To analyze the clinical trials software market drivers and challenges
- To get information on the clinical trials software market size (Value US$ Mn) forecast to 2030
- To receive information on sgnificant investments, mergers acquisitions in the clinical trials softwareindustry
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