The global Clinical Data Management Market Growth Accelerated by Increasing Remote Monitoring and Wearable Devices

Clinical data management is crucial for monitoring patient health and ensuring regulatory compliance. It involves collecting, storing, maintaining and analyzing clinical trial data from various sources like electronic health records, image and video files, and sensor-generated data from wearable devices and remote patient monitoring systems. These solutions aid in faster clinical trials and regulatory reviews by providing well-organized data. The global Clinical Data Management Market is estimated to be valued at US$ 28.06 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:

The increasing adoption of remote patient monitoring devices and wearables is driving clinical data management market growth. These technologies allow continuous tracking of vital health metrics outside of healthcare facilities. For example, glucose monitors, blood pressure cuffs and other devices can transmit data to clinicians and clinical data managers in real-time. This massive stream of granular patient-generated data needs to be systematically collected, stored and analyzed to gain meaningful insights. Clinical data management solutions help transform this deluge of information into actionable knowledge, facilitating more personalized care and improved treatment outcomes. They are thus essential to leverage the value of remote monitoring systems and optimize their usage.

Segment Analysis

The Global Clinical Data Management Market Size is dominated by data administration and data integration sub segments. Data administration sub segment accounts for around 35% share of the overall market as clinical data management require effective data administration functions like data entry, coding, data validation and cleaning to ensure data quality and integrity.

Key Takeaways

The global clinical data management market is expected to witness high growth over the forecast period of 2023 to 2030. North America is currently the dominating region in clinical data management market owing to presence of major pharmaceutical companies and CROs and stringent regulatory requirements for clinical trials data. The clinical data management market in North America is expected to reach US$ 13.64 billion by 2030 growing at a CAGR of 10.5% during the forecast period.

Asia Pacific region is expected to be the fastest growing region in clinical data management market growing at a CAGR of around 13% till 2030. Increasing clinical research activities outsourced to Asian countries like China and India due to low cost and availability of skilled workforce as well as rapid digitalization of healthcare infrastructure is driving the growth of clinical data management market in Asia Pacific.

Key players operating in the clinical data management market are Oracle Corporation, Veeva Systems, Axion Real-Time Metrics, IBM Watson Health, CIMS Global, eClinical Solutions LLC, MMS Holdings, Calyx, Fortress Medical and Ennov. Oracle Corporation emerged as the leading player with around 15% market share in 2023 focusing on acquisition of healthcare specific cloud platform companies and launch of new cloud data management products. Veeva Systems is other major player focusing on emerging Asian markets for clinical data management solutions and services.

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