Clinical Data Management Systems (CDMS) Industry Is Expand at a CAGR of 14.7% to Reach US$ 7.1 billion by 2031

The global clinical data management systems (CDMS) market was valued at USD 1.8 billion in 2021 and it is anticipated to grow up to USD 7.1 billion by 2031, at a CAGR of 14.7% during the forecast period.

New York, Global Clinical Data Management Systems (CDMS) Market from Global Insight Services is the only authoritative source for intelligence on the Clinical Data Management Systems (CDMS) Market . The report will provide you with an analysis of the impact of the latest market disruptions such as the Russo-Ukrainian War and Covid-19 on the market. The report provides a qualitative analysis of the market using various frameworks such as Porters Analysis and PESTLE. The report includes in-depth segmentation and market size data by categories, product types, applications, and geographic regions. The report also includes a comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as mergers and acquisitions activities in the market.

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Clinical data management system (CDMS) is one of the most important parts of digital clinical solutions that help deliver valid, error-free and statistical database. The tool is used in clinical research to store and manage the data of a clinical trial. The clinical trial data is then gathered at the investigator site in the case report form (CRF) and is stored in the CDMS.

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Market Trends and Drivers

Several benefits offered by cloud and web-based data collection tools are primarily expected to spur the market size. The tools offer benefits such as ease in data entry and reduced time, flexibility in format, low cost, and the capability to capture extra response-set information. Previously, the data collected from medical research used to be stored in physical form and was not readily accessible. However, in recent years, the clinical data management (CDM) field has exhibited significant advancements shifting over 95% paper-based data entry to electronic data capture (EDC), moving towards digital-enabled trials. Also, the CDMS is noted to discover several ways to effectively consolidate different data sources into one centralized location and ensure that the user can review and validate data according to existing demands. Such advancements in CDMS along with the rising underlying demand from clinical trials is expected to foster the market forecasts.

Major Players in the Global Clinical Data Management Systems (CDMS) Market

The key players in the clinical data management systems (CDMS) market are eClinical Solutions LLC, CIMS Global, Axiom Real-Time Metrics, IBM Watson Health, Veeva System, Oracle Corporation, Ennov, OpenClinica, LLC, Fortress Medical, and Medidata Solutions (Dassault Systems)among others.

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