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Global Clinical IT Market: By Type: Clinical Data Management System, Clinical Trial Management System, Electronic Patient Reported Outcomes, Electronic Trial Master File, Trial Safety and Regulatory, Others; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments

Global Clinical IT Market Outlook

The global clinical IT market reached a value of almost USD 5.3 billion in 2020. The industry is further expected to grow at a CAGR of 12.5% between 2021 and 2026 to reach a value of nearly USD 10.8 billion by 2026.

 

The United States is the leading industry for clinical IT, driven by the presence of large outsourcing companies and rising demand for R&D in the region. The Asia Pacific is the rapidly increasing market for eClinical trials, driven by the huge number of clinical studies and pressure to accelerate clinical trials. The global eClinical trials industry is shifting customer base from the developed countries to the developing economies, aided by the increase in the life-science research companies, number of CROs, and the existence of comparatively less stringent regulatory guidelines to developed countries. Thus, the rising eClinical trials industry is driving the growth of the clinical IT market.

 

Global Clinical IT Market

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The clinical data management system (CDMS) is the leading product segment in the market, accounting for nearly a quarter of the industry. CDMS are adaptable programming systems that deal with the clinical trial information produced by pharmaceutical and biotechnological organizations. CDMS is a web-based software that stores participant data collected in clinical studies. There has been expected lucrative growth in the CDMS segment of the market, driven by the advancement in technologies. The demand is expected to rise by the adoption of electronic data capture systems by the pharmaceuticals. CDMS is followed by randomization and trial supply management (RTSM). RTSM enables managing randomization and allocation of therapy as randomization is a crucial part of clinical trials, ensuring treatment balance and removing the risk of selection bias. The market for electronic patient-reported outcome (ePRO) is expected to grow at a faster pace than other technologies due to the increasing demand for the collection of patient self-reports via mobile and digital technologies.

 

Properties and Applications

The clinical IT assists in effective planning, tracking, and execution of the healthcare database across different countries. On the basis of product type, the industry for clinical IT is divided into:

 

Global Clinical IT Market By Type

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  • Clinical Data Management System (CDMS)
  • Clinical Trial Management System (CTMS)
  • Electronic Patient Reported Outcomes (ePRO)
  • Electronic Trial Master File (eTMF)
  • Randomization and Trial Supply Management (RTSM)
  • Trial Safety and Regulatory
  • Others

The clinical IT market employs technologies, such as smartphones, tablets, and personal computers, to allow patients, clinicians, and their caregivers to report outcomes directly.

The report also covers the regional markets of the product like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Clinical IT Market By Region

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Market Analysis

The global clinical IT solutions are driven by the pressure to accelerate clinical trials while maintaining low costs, which is possible only by shifting from the traditional clinical trials toward the technology-friendly eClinical approach. The market in the Asia Pacific is expected to grow due to the rising adoption of technology, like mobility solutions, and the increasing market for eClinical trials driven by the huge number of clinical studies and pressure to accelerate clinical trials.

The industry is further propelled by the increasing support for clinical trials given by governments in the form of grants and funding. The rising need for software solutions during the clinical trials is providing further impetus to the market growth. The industry is supported by the increasing R&D expenditure in the sector by the biotech and pharmaceutical companies, which is resulting in the adoption of technologies that deliver cost-effective solutions. The market growth is catalysed by the rising need for better data standardization. The rise in the number of clinical trials, especially across emerging countries in the Asia-Pacific region, is providing opportunities for growth to the vendors of clinical IT solutions. There has been expected lucrative growth in the EDC segment of clinical IT solutions, driven by the advancement in technologies. The increase is expected to rise by the adoption of EDC systems by the pharmaceuticals.

 

Competitive Landscape

October 2020- Dassault Systèmes (OTCMKTS: DASTY) acquired Medidata Solutions, Inc. (NASDAQ: MDSO).

The report gives a detailed analysis of the following key players in the global clinical IT solutions market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Oracle
  • Medidata
  • Parexel
  • BioClinica 
  • OpenClinica 
  • CRF Health
  • Cenduit, LLC
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on Porter's five forces model, along with giving a SWOT analysis.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
    1.1    Objectives of the Study
        1.1.1    Research Objective
        1.1.2    Key Findings of the Report
2    Research Methodology
    2.1    Data Extraction
    2.2    Data Corroboration
    2.3    Market Structure
    2.4    Assumptions
    2.5    Market Models
3    Introduction
    3.1    Market Outlook
    3.2    Market Scope and Segmentation
    3.3    Additional Insights
4    Executive Summary
    4.1    Key Market Developments
    4.2    Market Analysis
    4.3    Key Players
    4.4    Market Revenue and Growth
5    Market Dynamics
    5.1    Market Driver Analysis
    5.2    Market Restraint Analysis
    5.3    Industry Challenges
    5.4    Industry Opportunities
6    Global Clinical IT Services Market Analysis
    6.1    Figure: Global Clinical IT Historical Market (2016-2020) & Forecast (2021-2026)
    6.2    Chart: Global Clinical IT Market Breakup by Type
        6.2.1    Clinical Data Management System (CDMS)
        6.2.2    Clinical Trial Management System (CTMS)
        6.2.3    Electronic Patient Reported Outcomes (ePRO)
        6.2.4    Electronic Trial Master File (eTMF)
        6.2.5    Randomization and Trial Supply Management (RTSM)
        6.2.6    Trial Safety and Regulatory
        6.2.7    Others
    6.3    Figure: Global Clinical IT Market Breakup by Type: Historical Market (2016-2020) & Forecast (2021-2026)
        6.3.1    Clinical Data Management System (CDMS)
        6.3.2    Clinical Trial Management System (CTMS)
        6.3.3    Electronic Patient Reported Outcomes (ePRO)
        6.3.4    Electronic Trial Master File (eTMF)
        6.3.5    Randomization and Trial Supply Management (RTSM)
        6.3.6    Trial Safety and Regulatory
        6.3.7    Others
    6.4    Chart: Global Clinical IT Market Breakup by Region
        6.4.1    North America
            6.4.1.1    United State of America
            6.4.1.2    Canada
        6.4.2    Europe
            6.4.2.1    United Kingdom
            6.4.2.2    Germany
            6.4.2.3    France
            6.4.2.4    ASEAN
            6.4.2.5    Others
        6.4.3    Asia Pacific
            6.4.3.1    China
            6.4.3.2    Japan
            6.4.3.3    India
            6.4.3.4    Others
        6.4.4    Latin America
            6.4.4.1    Brazil
            6.4.4.2    Argentina
            6.4.4.3    Mexico
            6.4.4.4    Others
        6.4.5    Middle East and Africa
            6.4.5.1    Saudi Arabia
            6.4.5.2    United Arab Emirates
            6.4.5.3    Nigeria
            6.4.5.4    South Africa
            6.4.5.5    Others
    6.5    Figure: Global Clinical IT Market Breakup by Region: Historical Market (2016-2020) & Forecast (2021-2026)
        6.5.1    North America
            6.5.1.1    United State of America
            6.5.1.2    Canada
        6.5.2    Europe
            6.5.2.1    United Kingdom
            6.5.2.2    Germany
            6.5.2.3    France
            6.5.2.4    Others
        6.5.3    Asia Pacific
            6.5.3.1    China
            6.5.3.2    Japan
            6.5.3.3    India
            6.5.3.4    ASEAN
            6.5.3.5    Others
        6.5.4    Latin America
            6.5.4.1    Brazil
            6.5.4.2    Argentina
            6.5.4.3    Mexico
            6.5.4.4    Others
        6.5.5    Middle East and Africa
            6.5.5.1    Saudi Arabia
            6.5.5.2    United Arab Emirates
            6.5.5.3    Nigeria
            6.5.5.4    South Africa
            6.5.5.5    Others
7    SWOT Analysis
    7.1    Overview
    7.2    Strengths
    7.3    Weaknesses
    7.4    Opportunities
    7.5    Threats
8    Porter’s Five Forces Analysis
    8.1    Overview
    8.2    Buyer’s Power
    8.3    Supplier’s Power
    8.4    New Entrants
    8.5    Degree of Rivalry
    8.6    Substitutes
9    EMR’s Key Indicators for Demand
10    EMR’s Key Indicators for Price
11    Procurement Strategy

    11.1    Engagement Model
    11.2    Pricing Model
12    Competitive Landscape & Supplier Analysis
    12.1    Oracle
        12.1.1    Company Overview
        12.1.2    Financial Analysis
    12.2    Medidata
        12.2.1    Company Overview
        12.2.2    Financial Analysis
    12.3    Parexel
        12.3.1    Company Overview
        12.3.2    Financial Analysis
    12.4    BioClinica 
        12.4.1    Company Overview
        12.4.2    Financial Analysis
    12.5    OpenClinica 
        12.5.1    Company Overview
        12.5.2    Financial Analysis
    12.6    CRF Health
        12.6.1    Company Overview
        12.6.2    Financial Analysis
    12.7    Cenduit, LLC
        12.7.1    Company Overview
        12.7.2    Financial Analysis
    12.8    Others 
13    Industry Events and Developments

Analyst Review

The global clinical IT market attained a value of nearly USD 5.3 billion in 2020. It is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 12.5%. The clinical IT market is projected to reach a volume of around USD 10.8 billion by 2026.

EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on product type, the global clinical IT market can be segmented into clinical data management system (CDMS), clinical trial management system (CTMS), electronic patient reported outcomes (ePRO), electronic trial master file (eTMF), randomization and trial supply management (RTSM), and trial safety and regulatory, among others, with CDMS accounting for nearly a quarter of the industry. North America, Latin America, Europe, the Middle East and Africa, Europe, and the Asia Pacific are the major regions in the clinical IT market. The key players in the above industry are Oracle, Medidata, Parexel, BioClinica, OpenClinica, CRF Health, and Cenduit, LLC, among others.

The major drivers of the industry such as rising disposable incomes, increasing population, rising urbanisation, growing market for e-clinical trials, and rising governmental support are driving the growth of the industry globally. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with industry insights that are accurate, actionable, and help them remain ahead of their competition.

EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected industry conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:

  • How has the global clinical IT market performed in the previous years (2016-2020)?
  • What is the forecast assessment of the market for 2021-2026?
  • What are the major industry drivers and constraints?
  • What are the major price and demand indicators of the global clinical IT market?
  • Who are the key manufacturers of the product in the global clinical IT market?
  • What is the degree of competition in the global clinical IT market?
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