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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.
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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.
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:
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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.
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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.
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:
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.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Region|
|Breakup by Type||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|
|Breakup by Region||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Market Dynamics||SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||Oracle Corporation, Medidata Solutions, Inc., Parexel International Corporation, Signant Health, Cenduit, LLC, BioClinica, Inc., Others|
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*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.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
7 Industry Opportunities and Challenges
8 Global Clinical IT Market Analysis
8.1 Key Industry Highlights
8.2 Global Clinical IT Historical Market (2016-2020)
8.3 Global Clinical IT Market Forecast (2021-2026)
8.4 Global Clinical IT Market by Type
8.4.1 Clinical Data Management System (CDMS)
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2016-2020)
18.104.22.168 Forecast Trend (2021-2026)
8.4.2 Clinical Trial Management System (CTMS)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2016-2020)
188.8.131.52 Forecast Trend (2021-2026)
8.4.3 Electronic Patient Reported Outcomes (ePRO)
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2016-2020)
18.104.22.168 Forecast Trend (2021-2026)
8.4.4 Electronic Trial Master File (eTMF)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2016-2020)
188.8.131.52 Forecast Trend (2021-2026)
8.4.5 Randomization and Trial Supply Management (RTSM)
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2016-2020)
18.104.22.168 Forecast Trend (2021-2026)
8.4.6 Trial Safety and Regulatory
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2016-2020)
188.8.131.52 Forecast Trend (2021-2026)
8.5 Global Clinical IT Market by Region
8.5.1 Market Share
184.108.40.206 North America
220.127.116.11 Asia Pacific
18.104.22.168 Latin America
22.214.171.124 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
126.96.36.199 United States of America
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
188.8.131.52 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
184.108.40.206 Saudi Arabia
220.127.116.11 United Arab Emirates
18.104.22.168 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Oracle Corporation
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
12.2.2 Medidata Solutions, Inc.
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
12.2.3 Parexel International Corporation
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
12.2.4 Signant Health
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
12.2.5 Cenduit, LLC
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
12.2.6 BioClinica, Inc.
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
13 Industry Events and Developments
List of Figures and Tables
1. Global Clinical IT Market: Key Industry Highlights, 2016 and 2026
2. Global Clinical IT Historical Market: Breakup by Type (USD Million), 2016-2020
3. Global Clinical IT Market Forecast: Breakup by Type (USD Million), 2021-2026
4. Global Clinical IT Historical Market: Breakup by Region (USD Million), 2016-2020
5. Global Clinical IT Market Forecast: Breakup by Region (USD Million), 2021-2026
6. North America Clinical IT Historical Market: Breakup by Country (USD Million), 2016-2020
7. North America Clinical IT Market Forecast: Breakup by Country (USD Million), 2021-2026
8. Europe Clinical IT Historical Market: Breakup by Country (USD Million), 2016-2020
9. Europe Clinical IT Market Forecast: Breakup by Country (USD Million), 2021-2026
10. Asia Pacific Clinical IT Historical Market: Breakup by Country (USD Million), 2016-2020
11. Asia Pacific Clinical IT Market Forecast: Breakup by Country (USD Million), 2021-2026
12. Latin America Clinical IT Historical Market: Breakup by Country (USD Million), 2016-2020
13. Latin America Clinical IT Market Forecast: Breakup by Country (USD Million), 2021-2026
14. Middle East and Africa Clinical IT Historical Market: Breakup by Country (USD Million), 2016-2020
15. Middle East and Africa Clinical IT Market Forecast: Breakup by Country (USD Million), 2021-2026
16. Global Clinical IT Market Structure
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:
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