|Growth Opportunities in Clinical Trial Data Management and eClinical Solutions Market, Forecast to 2020|
|Digitization Presents Opportunities for Unified Cloud-based Platform Solutions to Optimize Clinical Trial Workflows|
The global clinical trial IT market is expected to grow from $2.63 billion in 2016 to $4.29 billion in 2020 at a compound annual growth rate (CAGR) of more than 13.0%. North America will continue to hold the largest market share (by revenue) in 2017, followed by Europe. Increasing clinical trial activities in the emerging Asia-Pacific markets and recent favorable regulatory reforms (China to accept overseas trial data; Indian government allowing? academic institutions to take Drug Controller General of India (DCGI) permission) are expected to drive the demand for clinical trial IT solutions from 2017 to 2020. Clinical trial data management (CTDM) and emerging eClinical solutions comprising electronic data capture (EDC), clinical data management systems (CDMS), clinical trial management systems (CTMS), randomization and trial supply management systems (RTMS), electronic clinical outcome assessment (eCOA), trail planning and safety solutions, clinical data integration platforms, and clinical analytics platform have the largest market shares in the total clinical trial IT solutions, and are estimated to touch $4,051.6 million in 2020.
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