Infinium Global Research Clinical Trails Management Systems Market | Page 2

A latest report has been added to the wide database of Clinical Trails Management Systems Market by Infinium Global Research. This
report studies the Clinical Trails Management Systems Market by type (hardware, software, and services), delivery mode (cloud-based,
web based, on-premise), end user (pharmaceutical and biotechnology companies, clinical research organizations, healthcare providers)
market status and outlook of global and major regions, from manufacturers, and end industries. The objective of the study is to
identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. Clinical Trails
Management Systems Market provides opportunities in micro markets for stakeholders to invest along with the detailed analysis of
competitive landscape, latest trends, and product offerings of the major companies in the Clinical Trails Management Systems Market.
The global market for Clinical Trials Management Systems (CTMS) was valued at around USD 734.8 million in 2016 and is expected to
reach USD 1,834.2 million by 2023, growing at a CAGR of around 14.2% during the forecast period of 2017 to 2023. 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.
Often, a clinical trial management system provides data to a business intelligence system, which acts as a digital dashboard for trial
managers.
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During the early phases of clinical trials, when the number of patients and tests are small, in-house or home-grown program are usually
used to handle and analyze their patient data. In later phases, data volumes and complexity grown significantly, forcing various
organizations to adopt more comprehensive software. Available software includes budgeting, patient management, compliance with
government regulations project management, financials, patient management and recruitment, investigator management, regulatory
compliance and compatibility with other systems such as electronic data capture and adverse event reporting systems. VOXCE is the
first open source clinical trial management framework and CTMS to offer truly complete control of data collection, operations and
analysis, providing the ability to manage patients from enrollment to withdraw, conduct multicenter clinical trials and research projects
from inception to market or bedside on a global scale, manage data operations, etc.
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