The eClinical solutions market is known for the impact it has on the healthcare sector. The system has a blend of clinical technology and expertise and can be enhanced with the clinical development process by using data management and data analysis extensively. The global eClinical Solutions Market, as per the report on the same by Market Research Future (MRFR), can be anticipated to take 12.24% CAGR during the forecast period of 2015-2023. MRFR also claims a possibility of upscaling of the valuation till USD 9434.57 million by 2023.
The report mentions several factors that can impact the market growth in the coming years. Some of them are increasing R&D activities, increasing participation from the various biopharmaceutical and pharmaceutical companies, hike in expenditure for R&D funding, high integration of smart tools in the process, and others can improve the global market scenario.
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The global eClinical solutions market can be studied using a segmentation that includes type, clinical trial phase, delivery mode, and end user. These segments are known for their extensive contribution in dealing with a simplified analysis of the market. These segments come with data related to various factors that can have significant impact on the market.
By type, the market for eClinical solutions can be segmented into the electronic clinical outcome assessment (eCOA), clinical data management system (CDMS), randomization & trial supply management (RTSM), electronic trial master files (eTMF), clinical trial management system (CTMS), and trial safety & regulatory. The Clinical Data Management System (CDMS) segment had the maximum market coverage in 2017. However, the Electronic Clinical Outcome Assessment (eCOA) segment has the potential to emerge as the fastest growing segment in the coming years.
By Delivery Mode, the market for eClinical solutions includes cloud-based, web-based, and enterprise-based.
By Clinical Trial Phase, the market includes Phase II, Phase I, Phase III, and Phase IV. The Phase IV segment had the largest market share in the global eClinical solutions market. The end user segment can be segmented into pharma/biotech companies, contract research organizations (CROs), and others. The Contract Research Organizations (CROs) has the leading edge in the global market for eClinical solutions.
The global eClinical solutions market has been geographically segmented into four major regions such as North America, Asia Pacific, Europe, and the rest of the world. The North America region is anticipated to command the largest share in the global eClinical solutions market. Rising demand for technologically advanced solutions in the healthcare sector, easy adoption of advanced technology and increasing number of ongoing clinical trials along with financial support from the government are aiding the growth of the eClinical solutions market in this region. The Asia Pacific region is projecting the fastest growth at the highest CAGR in the global eClinical solutions market during the assessment period. The eClinical solutions market in this region is majorly driven by rapid development of the healthcare sector in the emerging economies and increasing outsourcing of services by the prominent multinational pharmaceutical organizations in this region. Increased investments in research and development in the well-developed healthcare sector are propelling the growth of the global eClinical solutions market. The Middle East and Africa region commands the least share in the global eClinical solutions market owing to the low penetration of advanced technology in the underdeveloped countries of this region.
Several companies are taking part in pushing the global market for eClinical solutions forward. These companies are PAREXEL International Corporation, ERT Clinical, CRF Health, BioClinica, Inc., DATATRAK International, Inc., Omnicomm Systems, Inc. Oracle Corporation, Medidata Solutions, Inc., Merge Healthcare Inc, and MaxisIT. These companies fetch in substantial strategic deals like merger, acquisition, and others to inspire significant market growth.
In October 2019, Oracle Health Sciences and Phlexglobal announced that they are going to collaborate and take necessary steps to take the global eClinical solutions market out of the bottleneck state.
List Of Tables
TABLE 1 GLOBAL ECLINICAL SOLUTIONS MARKET, BY TYPE, 2020–2027 (USD MILLION) 34
TABLE 2 GLOBAL ECLINICAL SOLUTIONS MARKET FOR CLINICAL DATA MANAGEMENT SYSTEM (CDMS), BY REGION, 2020–2027 (USD MILLION) 35
TABLE 3 GLOBAL ECLINICAL SOLUTIONS MARKET FOR RANDOMIZATION AND TRIAL SUPPLY MANAGEMENT (RTSM), BY REGION, 2020–2027 (USD MILLION) 36
TABLE 4 GLOBAL ECLINICAL SOLUTIONS MARKET FOR ELECTRONIC CLINICAL OUTCOME ASSESSMENT (ECOA), BY REGION, 2020–2027 (USD MILLION) 37
TABLE 5 GLOBAL ECLINICAL SOLUTIONS MARKET FOR CLINICAL TRIAL MANAGEMENT SYSTEM (CTMS), BY REGION, 2020–2027 (USD MILLION) 38
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