The
process of collection, documentation, and data storage, which are
critical for clinical trials or procedures and to biotechnology
companies and pharmaceutical manufacturers is termed as Clinical Data
Management (CDM). Clinical data management tool is employed in
clinical research for managing the data of a clinical trial. Data
management is a process of collection, integration, and management of
subject data in compliance with regulatory standards. Clinical data
management is a fundamental phase in clinical research leading to the
generation of high-quality, reliable, and statistically comprehensive
data to reduce time duration from drug development to marketing. The
clinical data is captured in a paper or electronic data capture
format. Pharma companies, contract research organizations, and IT
companies are involved in CDM activities. Data is collected from
multiple sources and stored in a patient-centric fashion in a data
repository commonly known as clinical data repository.
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Rising
number of clinical trials drives the clinical data management market
Advantages
of web-based data collection tools such as reduced time and ease in
data entry, low cost, flexibility in format, and the ability to
capture additional response-set information drive the clinical data
management market. Additionally, high levels of productivity and
efficiency offered by clinical data management are expected to
redefine the traditional data management process by the companies
thereby augmenting the clinical data management market growth. Also,
increase in research and development expenditure of clinical research
and life science industries coupled with increasing number of
clinical trials is a factor contributing to the growth of clinical
data management market.
North
America is expected to dominate the market due to rise in demand for
patient data standardization
Regional
segmentation of clinical data management market by Coherent Market
Insights comprises North America, Europe, Asia Pacific, Latin
America, Middle East, and Africa. According to the National
Institutes of Health estimates in 2015, around 89,528 clinical trials
were conducted in the U.S., which, in turn, raised the demand for
storing comprehensive statistical patient data in. Moreover, the
growth of North America market is driven by increasing need for data
standardization and rising investments by biotechnology and
pharmaceutical companies in research and development. The surging
growth in Asia Pacific is attributed to a number of factors including
rise in outsourcing of clinical trials, availability of diverse
patient population, and less regulatory guidelines by the government.
Top
Key Players
Key
players operating the clinical data management market include
OmniComm Systems, Oracle Corporation, BioClinicia, ERT, PHT
Corporation, MedNet Solutions Inc., PAREXEL International
Corporation, eClinical Solutions Inc., Datatrak International Inc.,
and Medidata Solutions, Inc.
Focus
on high-quality clinical data by Oracle Clinical segment fuels the
market growth
The
global clinical data management market is segmented on the basis of
tools, service, delivery mode, end-use industry, and geography.
On
the basis of tools, the global clinical data management market is
segmented into:
-
Oracle Clinical
-
Clintrial
-
Macro
-
Rave
-
eClinical Suite
On
the basis of services, the global clinical data management market is
segmented into:
-
Case Report Form (CRF) Designing
-
Data Entry and Validation
-
Discrepancy Management
-
Medical Coding
-
Others
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