Global Pharma Clinical Trial Digitization Market, By Services (Drug Dose Adjustment, Drug Impact Monitoring, Medical Prescription System, Bioprinting, Preventive Therapy, Individualized Drug Printing), Application (Clinical Data Management, Trial Monitoring, Patient Recruitment and Enrollment), Themes (Digital Continuity Across Clinical Trial IT Systems, Patient-centric Remote and Virtual Trial Design, Direct-to-patient Home Services) Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights Global Pharma Clinical Trial Digitization Market
Data Bridge Market Research analyses that the pharma clinical trial digitization market to account growing at a CAGR of 6.2% in the forecast period of 2022-2029. The growing demand for personalised medicine is expected to open up new opportunities for the pharmaceutical clinical trial digitization market.
Clinical trial digitization enables the processing of large amounts of patient-related data in various formats. Pharmaceutical companies are using such data to improve the efficiency of trial execution.
Growing demand for CROs to conduct clinical trials in the pharmaceutical sector is driving market growth, owing to CROs' diverse expertise and use of advanced technologies in clinical trials. Biomedical research digitization is also paving the way for market expansion. Incorporating advanced technologies such as Electronic Data Capture (EDC) assists market participants in managing patient data, lowering monitoring costs. Digitization also aids in meeting stringent regulations by preserving patient data records and reducing trial process errors via the use of software such as e-COA (Electronic Clinical Outcome Assessment).
The market is expected to expand due to rising demand for high-quality data. Other factors such as rising demand for personalised drugs, increased adoption of new technology in clinical research, expanding R&D promoting outsourcing, and rising disease prevalence will drive the market during the forecast period.
However, lack of skilled professionals and complications associated with, hemorrhage, respiratory failure, pneumonia and others will obstruct the market growth. Lack of awareness about the complications developing through will challenge the market of the pharma clinical trial digitization.
This pharma clinical trial digitization market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on pharma clinical trial digitization market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Pharma Clinical Trial Digitization Market Scope and Market Size
Pharma clinical trial digitization market is segmented of the basis of services, application and themes. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of services, the pharma clinical trial digitization market is segmented into drug dose adjustment, drug impact monitoring, medical prescription system, bioprinting, preventive therapy, and individualized drug printing.
- Based on application, the market is segmented into clinical data management, trial monitoring, patient recruitment and enrollment.
- The pharma clinical trial digitization market on the basis of theme is segmented into digital continuity across clinical trial it systems, patient-centric remote and virtual trial design and direct-to-patient home services.
Pharma Clinical Trial Digitization Market Country Level Analysis
The pharma clinical trial digitization market is analysed and market size insights and trends are provided by country, services, application and themes as referenced above.
The countries covered in the pharma clinical trial digitization market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominated the market, accounting for the largest share. Over the forecast period, the region is expected to maintain its dominance. This is due to increased R&D in this region as well as increased adoption of new technologies in clinical research. Furthermore, favourable government support in the US market for clinical trials is expected to boost demand. The market in Asia Pacific is expected to grow at the fastest rate during the forecast period, owing to the increasing availability of a large patient pool, which will make it easier to recruit candidates. The global pandemic is also a major contributor to market growth.
The country section of the pharma clinical trial digitization market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The pharma clinical trial digitization market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for pharma clinical trial digitization market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the pharma clinical trial digitization market. The data is available for historic period 2010 to 2020.
Competitive Landscape and Pharma Clinical Trial Digitization Market Share Analysis
The pharma clinical trial digitization market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to pharma clinical trial digitization market.
Some of the major players covered in the pharma clinical trial digitization market report are Olympus Corporation; KLS Martin Group; B. Braun Melsungen AG; Medtronic; OmniGuide Holdings, Inc.; biolitec AG; Intuitive Surgical; Scanlan International; Getinge AB; Johnson & Johnson Private Limited, among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.