The eClinical Solutions Market is projected to record a CAGR of 12%
to influence earnings of USD 14.36 billion by 2030.
Clinical trials are increasingly growing complex, and there has been a
massive increase in the amount of clinical data generated which calls for
proper management. eClinical solutions are gaining momentum among
pharmaceutical and biotechnology companies are progressively leveraging
eClinical solutions to manage the huge volume of data.
The risks and costs associated with clinical trials continue to surge
which puts enormous pressure on enterprises to optimize ROI in new drug
development. eClinical solutions assist in automating and streamlining
processes and thereby minimizes drug development costs.
Clinical research organizations (CRO) pharmaceutical companies are the
primary end users for eClinical solutions and growth in the number of CROs is
stimulating the growth of the global eClinical solutions market.
Other driving factors include expansion of R&D budget by
pharma-biotech companies and rapid adoption of cloud computing technologies.
However, the lack of skilled professionals to operate eClinical solutions, lack
of research professionals, and the high cost of implementation are likely to
dampen the growth of the global eClinical solutions market. Other restraining
factors include concerns over data security, budgetary constraints faced by
biotech and pharmaceutical companies and lack of awareness among the research
community.
Major Key
Players:
eClinical Solutions
Inc, Medidata Solutions Inc, Datatrak International, ERT Clinical, Omnicomm
Systems Inc, Parexel International Corporation, Maxisit Inc,
Merge Healthcare
Inc, Bioclinica Inc, Oracle Corporation, and CRF Health are some of the EClinical Solutions Market Players in the
market.
Segment Analysis
The global
eClinical solution market has been segmented based product, delivery mode, and
end-users.
Product-wise
segmentation of the global eClinical solution market includes clinical data management systems (CDMS), randomization & trial supply
management systems (RTMS), clinical analytics platform, electronic clinical
outcome assessment (ECOA), clinical trial management systems (CTMS), clinical
data integration platforms, safety solutions and electronic trial master files
(ETMF), and electronic data capture (EDC).
By delivery mode,
the global eClinical solution market has been segmented into web-hosted (on
demand), licensed enterprise (on-premise) and cloud-based (SaaS).
By end users, the
global eClinical solution market has been segmented into academic research organizations,
consulting service companies, medical device manufacturers, hospitals, contract research organizations, and pharmaceutical companies.
Regional Analysis
The eClinical solutions market is spanned across the regions of the
Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas
is the largest market for eClinical solutions driven by a rise in a number of
clinical trials in the region, increasing financial support from the government
and presence of major players in the region.
Europe too is a significant market. High investment in R&D
activities and the development of emerging economies which hold strong growth
potential propel the growth of the eClinical solution market in Europe.
Asia Pacific market for eClinical solutions is expected to grow at the
fastest rate over the forecast period. Increasing funding from the government
to support clinical research and growth in a number of outsourcing of clinical
trials in the developing economies of Asia Pacific boost the growth of the
market. The Middle East & Africa market is expected to exhibit the least
growth over the forecast period.
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