According to the report, the global clinical IT market reached a value of USD 6.71 billion in 2022. Aided by the increasing demand for efficient healthcare services and the integration of information technology in healthcare, the market is projected to further grow at a CAGR of 12.50% between 2023 and 2028 to reach a value of USD 13.6 billion by 2028.
Clinical IT encompasses the use of advanced and complex information and communication technologies in healthcare settings. These technologies have emerged as a vital component in today’s healthcare landscape, enhancing the efficiency, quality, and delivery of healthcare services. They include Electronic Health Records (EHR), Computerised Physician Order Entry (CPOE), and Health Information Exchange (HIE) platforms.
One of the driving forces behind the clinical IT market growth is the burgeoning need for better patient care, which is gradually pushing the healthcare sector towards digital transformation. The digitisation of patient records, enabled by EHR systems, plays a critical role in this transformation. These systems make a patient’s medical history readily available to healthcare providers, which improves the overall quality and efficiency of care.
Telemedicine, fuelled by clinical IT systems, has gained significant traction, especially in remote and underserved areas, as well as in response to the COVID-19 pandemic where remote consultation became not only convenient but necessary.
The growing emphasis on regulatory compliance is shaping the clinical IT market outlook significantly. Governments around the world are increasingly stressing the importance of safeguarding patients' medical records and have implemented various legislations to this effect. Complying with these regulations requires sophisticated IT solutions that can protect and secure patient data, further driving demand for Clinical IT solutions.
North America accounts for a significant portion of the global clinical IT market share, attributed to its advanced healthcare infrastructure, high adoption of EHR, and stringent healthcare regulations. Europe follows closely, with Asia-Pacific identified as a rapidly growing market due to increasing healthcare IT spending, booming population, and growing awareness regarding the benefits of clinical IT solutions.
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The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Clinical IT encompasses the use of advanced and complex information and communication technologies in healthcare settings. These technologies have emerged as a vital component in today’s healthcare landscape, enhancing the efficiency, quality, and delivery of healthcare services. They include Electronic Health Records (EHR), Computerised Physician Order Entry (CPOE), and Health Information Exchange (HIE) platforms.
One of the driving forces behind the clinical IT market growth is the burgeoning need for better patient care, which is gradually pushing the healthcare sector towards digital transformation. The digitisation of patient records, enabled by EHR systems, plays a critical role in this transformation. These systems make a patient’s medical history readily available to healthcare providers, which improves the overall quality and efficiency of care.
Telemedicine, fuelled by clinical IT systems, has gained significant traction, especially in remote and underserved areas, as well as in response to the COVID-19 pandemic where remote consultation became not only convenient but necessary.
The growing emphasis on regulatory compliance is shaping the clinical IT market outlook significantly. Governments around the world are increasingly stressing the importance of safeguarding patients' medical records and have implemented various legislations to this effect. Complying with these regulations requires sophisticated IT solutions that can protect and secure patient data, further driving demand for Clinical IT solutions.
North America accounts for a significant portion of the global clinical IT market share, attributed to its advanced healthcare infrastructure, high adoption of EHR, and stringent healthcare regulations. Europe follows closely, with Asia-Pacific identified as a rapidly growing market due to increasing healthcare IT spending, booming population, and growing awareness regarding the benefits of clinical IT solutions.
Market Segmentation
The market can be divided based on type and region.Market Breakup by Type
- Clinical Data Management System (CDMS)
- Clinical Trial Management System (CTMS)
- Electronic Patient Reported Outcomes (ePRO)
- Electronic Trial Master File (eTMF)
- Randomisation and Trial Supply Management (RTSM)
- Trial Safety and Regulatory
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global clinical IT market.Some of the major players explored in the report are as follows:
- Oracle Corporation
- Medidata Solutions, Inc.
- Parexel International Corporation
- Signant Health
- Cenduit, LLC
- BioClinica, Inc.
- OpenClinica, LLC
- DATATRAK International, Inc.
- Others
About the Analyst
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.These high-quality, data-driven analysis provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market15 Value Chain Analysis17 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Snapshot
8 Global Clinical IT Market Analysis
9 North America Clinical IT Market Analysis
10 Europe Clinical IT Market Analysis
11 Asia Pacific Clinical IT Market Analysis
12 Latin America Clinical IT Market Analysis
13 Middle East and Africa Clinical IT Market Analysis
14 Market Dynamics
16 Competitive Landscape
List of Key Figures and Tables
Companies Mentioned
- Oracle Corporation
- Medidata Solutions Inc.
- Parexel International Corporation
- Signant Health
- Cenduit LLC
- BioClinica Inc.
- OpenClinica LLC
- DATATRAK International Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 169 |
| Published | October 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 7.55 Billion |
| Forecasted Market Value ( USD | $ 13.6 Billion |
| Compound Annual Growth Rate | 12.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
