Global Clinical Data Management Market was valued at USD 580.10 million in 2019 which is expected to reach USD 1085 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.
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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.
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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