According to the report by Expert Market Research (EMR), the global clinical IT market size reached a value of USD 6.71 billion in 2023. 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 2024 and 2032.
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.
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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.
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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.
Clinical IT 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 EMR 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 by Expert Market Research are as follows:
• Oracle Corporation
• Medidata Solutions, Inc.
• Parexel International Corporation
• Signant Health
• Cenduit, LLC
• BioClinica, Inc.
• OpenClinica, LLC
• DATATRAK International, Inc.
• Others
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