Medical Information Industry to Achieve $5.63 Billion Growth by 2029

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How Will the Medical Information Market Grow by 2025 in Terms of Size and Growth?
Over the past few years, the medical information market has seen a robust growth. Its size is expected to increase from $4.03 billion in 2024 to $4.32 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%. Several factors have contributed to the growth during the historic period, including the heightened regulatory requirements for drug safety and labeling, an increase in the number of clinical trials and drug development activities, a rise in patient awareness and the demand for transparency in treatment, a higher dependence on outsourced medical information services, and an escalating use of cloud-based medical information platforms.

What Are the Estimated Growth Rates for the Medical Information Industry Through 2029?
The market size for medical information is anticipated to experience significant expansion in the upcoming years. It is projected to escalate to $5.63 billion in 2029, experiencing a compound annual growth rate (CAGR) of 6.8%. The predicted expansion within the forecast window can be linked to an amplified requirement for omnichannel medical dialogue, increased focus on patient-centricity and individualized medicine, growing needs for immediate data-driven medical informatics, enhanced healthcare digitalization, and an enlarged uptake of telemedicine. Key tendencies within the forecast timeline incorporate progression in digital health technologies, integration of electronic health documentation and medical information systems, advancements in drug safety monitoring technologies and pharmacovigilance, incorporation of instantaneous data, and the inclusion of multichannel communication strategies.

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What Are the Strategic Drivers Boosting Medical Information Market Performance?
The anticipated escalation in the digital transformation of healthcare procedures is slated to boost the expansion of the medical information market. The term refers to the incorporation of digital solutions such as electronic health records, telemedicine, and data analysis into healthcare structures with the aim to enhance patient care, operational productivity, and overall health outcomes. The main factor fueling this digital transformation is the escalated use of Electronic Health Records (EHRs), which optimizes the management of patient data, boosts the quality of clinical decision-making and augments the efficiency and coordination of care delivery mechanisms. The rising digital intervention in healthcare augments the precision, availability and real-time dissemination of medical data, thereby enhancing patient care, streamlining clinical procedures, mitigating administrative workload and promoting better coordination among healthcare providers, consequently enabling more educated medical decisions and efficient management of the health system. For instance, in June 2022, as per the data released by the UK's National Health Service, by March 2025, all NHS trusts are projected to have transitioned to electronic health records, a target set after 90% adoption was achieved by December 2023, while 80% of adult social care providers registered with CQC are expected to have digital care records in place by March 2024. Therefore, the heightened digitalization of healthcare is serving as a catalyst for the growth of the medical information market.

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What Are the Segments in the Medical Information Market?
The medical information market covered in this report is segmented -

1) By Service Type: Medical Information Services, Pharmacovigilance Services, Regulatory Affairs Services, Clinical
2) By Therapeutic Area: Oncology, Neurology, Cardiology, Immunology, Other Therapeutic Areas
3) By Delivery Mode: On-Premise, Cloud-Based, Web-Based
4) By Application: Drug Development, Drug Safety Monitoring, Regulatory Compliance, Clinical Research
5) By End User: Pharmaceutical Companies, Biotechnology Companies, Healthcare Providers, Contract Research Organizations

Subsegments:
1) By Medical Information Services: Contact Center Support, Scientific Response Document Creation, Medical Writing And Content Management, Query Management, Knowledge Database Management
2) By Pharmacovigilance Services: Case Processing, Signal Detection And Risk Management, Aggregate Reporting, Literature Screening, Regulatory Submissions
3) By Regulatory Affairs Services: Regulatory Strategy And Consulting, Dossier Preparation And Submission, Labeling Services, Lifecycle Management, Regulatory Intelligence
4) By Clinical: Site Selection And Feasibility, Clinical Trial Monitoring, Clinical Data Management, Protocol Development, Patient Recruitment And Retention

What Are the Key Adoption Trends in the Medical Information Market?
Leading firms in the medical information market are concentrating on the creation of groundbreaking solutions, like digital health monitoring platforms. These platforms aim to boost instant data access, elevate patient participation, and aid more knowledgeable clinical decisions. Digital health monitoring platforms, which are fundamentally technology-orientated systems, can capture, process, and distribute real-time health information from patients using wearables and mobile applications. This aids remote care and timely medical treatments. In the case of ElectronRx Limited, a deep technology firm based in the US, they launched PurpleDx, a mobile app purposed for remote lung function monitoring in patients with chronic respiratory diseases such as Asthma, COPD, Interstitial lung disease, and pulmonary hypertension in December 2024. Through the integrated use of intrinsic smartphone sensors, it can gather and comprehend crucial digital biomarkers such as heart rate, respiratory rate and tidal volume. Hence, patients can monitor their lung health from their residences and relay real-time data to doctors. With the assistance of a clinical dashboard integration, medical providers can remotely customize treatment procedures and improve healthcare provision. This stands as a significant step in digital health towards the management of pulmonary diseases.

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Which Companies Lead the Competitive Landscape of the Medical Information Industry?
Major companies operating in the medical information market are McKesson Corporation, Cardinal Health Inc., Siemens AG, accenture* plc, International Business Machines Corporation, Oracle Corporation, Medtronic plc, Cognizant Technology Solutions Corporation, Koninklijke Philips N.V., GE Healthcare Technologies Inc., Infosys Limited, IQVIA Holdings Inc., HCL Technologies, Quest Diagnostics Incorporated, Wolters Kluwer N.V., Epic Systems Corporation, InterSystems Corporation, Medical Information Technology Inc., Veradigm Inc., Innovaccer Inc., Verato Inc., CliniComp International Inc., Patagonia Health Inc.

Where Are the Key Medical Information Market Opportunities by Region?
North America was the largest region in the medical information market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical information market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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