There were over 360k clinical studies registered in 2020 worldwide, and the number is flourishing, especially during the COVID-19 pandemic. Consequently, the demand for clinical trial software growth too, and the market for clinical trial software is expected to grow at a CAGR of 14.7% by 2025.
What is a clinical trial? A clinical trial is a complex process that usually comprises 3 stages varying in duration, the number of participants, and goals. All stages require lots of data management, paperwork, and communication, all of which distract from the clinical research itself and that’s where CTMS (clinical trials management software) may provide a solution.
What is CTMS used for? Biotech and pharmaceutical companies use CTMS for managing clinical trials. It helps researchers and Clinical Research Organizations (CROs) organize all the steps of the clinical trial process from creating a list of volunteers to analyzing the achieved results.
All parties at clinical trials — CROs, researchers, participants, and sponsors — may benefit from utilizing a CTMS system. Here are some of its major advantages:
- With CTMS in place, a CRO will not mix up the results of different trials as it records every case separately.
- Clinical trial management software helps to ensure compliance with all the legal protocols and reminds researchers about important deadlines.
- SaaS management software for clinical trials offers secure messaging, secure cloud storage, virus protection, data encryption, and server monitoring.
- With CTMS, research organizations can track every single receipt and pursue a transparent financial policy.
- CTMS often comes with in-build benefits administration software that streamlines recruiting, managing and paying the participants of a study.
…and that’s not nearly all. More benefits of CTMS systems we uncover in the Clinical Trial Management Software as a Service article, along with key features, and stages of such software development — so check it out to learn more.