Global Clinical Data Management Market was valued at USD 580.10 million in 2019 which is expected to reach USD 1.085 million at a CAGR 13.6%.
Clinical data management is the process of documentation, collection, and data storage. Clinical data management is used in used in clinical research for management of data of a clinical trial. It is fundamental phase in clinical research for the generation of high quality reliable data to reduce time duration from drug development to marketing.
Connectivity within a country is a major need for sustained economic progress, as smooth transmission of information and communication is vital lubrication for industrial expansion and other economic activities. Many countries around the world have allocated significant budgets for the widespread installation of strong Internet connectivity systems in order to bring the rural areas closer to the urban areas and bridge the gap therein. Only once a country has attained sufficient expansion of ICT infrastructure can it rightfully invite global industrial leaders to set up shop in their territory.
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Increase in number of clinical trials is the key driving factor which is expected to boost the global clinical data management market growth. Reduced time and ease in data entry, ability to capture additional response-set information and flexibility in format are the advantages of clinical data management which is expected to propel the growth of clinical data management industry. Furthermore, clinical data management offers high level of productivity and efficiency are expected to fuel the global clinical data management market growth, during this forecast period. Additionally, rise in research and development activities of clinical research and drug development expected to drive the global clinical data management market growth.
However, lack of infrastructure facilities in various government and private hospitals is the challenging factor which is expected to hamper the global clinical data management market growth. Also, low internet penetration in emerging countries will affect the global clinical data management market growth.
Global Clinical Data Management Market is segmented into tools such as Macro, Rave, eClinical Suite, Clintrial, and Oracle Clinical, by services such as Medical Coding, Discrepancy Management, Data Entry & Validation, Case Report Form (CRF Designing), and Others. Further, Global Clinical Data Management Market is segmented into delivery mode such as Web-based, Cloud Based, and Licensed Enterprise, and by end use industry such as Pharmaceutical, Biotechnology, and Clinical Research Organization.
Also, Global Clinical Data Management Market is segmented five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The market report has been accumulated with the assistance of many primary (interviews, surveysobservations,) and secondary (journals, industrial databases,) sources to distinguish and gather proper information for this broadcommercial, market-oriented, and technical estimation. Porter’s Five Force Model has been implementedto determinethe market assessment precisely and to verify the several strengths, and weaknesses, along with opportunities, and threats (SWOT analysis), and multiple quantitative and qualitative study related with the market.
Market Key Players
Various key players are discussed in this report such as Medidata Solutions, Inc., Datatrak International Inc, eClinical Solutions Inc., PAREXEL International Corporation,, PHT Corporation, MedNet Solutions Inc, BioClinicia,ERT, Oracle Corporation, and OmniComm Systems.
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