Market Research Future published a research report on Global eClinical Solution Market. Experts analyze the market based on various factors- price analysis, supply chain analysis, porters five force analysis etc. Report provide overview of key players and their strategic profiling in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
Considering the rapid expansions the market is perceiving currently and the potential this market holds to grow further, Market Research Future (MRFR) recently published a study report, giving out a complete market insight for the period 2019 – 2022. In its analysis, MRFR asserts that the global eClinical Solution market will grow enormously by 2022, registering a phenomenal CAGR during the review period (2019 – 2022).
In addition to the benefits mentioned above, eClinical Solution augments and amplifies the results generated through consulting services, and provides sustainable, insight-driven solutions for the long term, saving a significant amount of time during the clinical trials, and allowing the personnel to perform a range of tasks, offering good results efficiently. This further presages that the potential heydays of the eClinical Solution market are around the corner.
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Also, other factors contributing the market growth include increasing population & urbanization along with the growing demand for automated procedures, across the world. Improving economic conditions enabling access to the quality life & improved healthcare worldwide, are providing impetus to the market growth. Increasing investments transpired into R&D activities by the market players coupled with the increasing government interest and investment funding for improving the technology is creating a larger revenue pocket in the market.
On the other hand, as the technology is still in its embryonic stage, the cost of development and maintenance is slightly on a higher side. This coupled with other technological complexities hamper the growth of the global eClinical Solution Market.
Key Players :
Leading players profiled in the eClinical Solution Market include ERT Clinical, Maxisit Inc, Omnicomm Systems Inc, Datatrak International, Merge Healthcare Inc, CRF Health, Bioclinica Inc, Medidata Solutions Inc, eClinical Solutions Inc, Parexel International Corporation and Oracle Corporation.
Nov 2018- Renowned software provider of service solution for clinical trials, Medidata has joined hands with one of the biggest biotech companies in China, Hengrui Pharma to offer innovative therapies and quicken global drug research. This expansion will help in expanding drug therapies to worldwide patients.
In November 2018, Medidata, a leading provider of software as a service solution for clinical trials, announced a partnership with Hengrui Pharma, one of China’s largest biotech companies, to deliver innovative therapies and accelerate global drug research. Hengrui has adopted the Medidata cloud platform clinical trial management system which would support Hengrui to expand its drug therapies to patients around the world.
In September 2018, Veeva Systems, a provider of cloud-based solutions for the global life sciences industry, announced the launch of an advanced cloud-based clinical data management application to streamline and accelerate clinical study execution. The application can single-handedly manage all trial data and also includes Vault CTMS, Vault eTMF, and Vault Study Startup which helps unify all operations.
Competitive Analysis :
The eClinical Solution Market is price-sensitive, growing and highly competitive owing to rising adoption of mid-sized and smaller sponsors. The firm concentration is likely to boost up in the emerging markets. The companies are immersed dynamically in partnerships and collaborations for building innovative approach to provide advanced tools for managing clinical trials and drug studies. The majority of the collaborations and partnerships are focused on streamlining and accelerating the clinical trial data collection (CTDC) and management process. This ensures standardizing processes and regulatory compliances to offer services to pharmaceutical companies and hospitals and augmenting business intelligence. Hence the rising number of partnerships and collaborations is a key trend in the global eClinical Solution Market.
In the Market Research Future (MRFR) report, the eClinical Solution Market has been segmented on the basis of product, delivery mode and end-user.
Based on product, it is segmented into electronic trial master files (ETMF), safety solutions, electronic clinical outcome assessment (ECOA), clinical data integration platforms, clinical data management systems (CDMS), electronic data capture (EDC), clinical trial management systems (CTMS), randomization and trial supply management systems (RTMS) and clinical analytics platform. Of these, CTMS will rule the market during the predicted years.
Based on delivery mode, the eClinical Solution Market is segmented into cloud-based (SaaS), licensed enterprise (on-premise) and web-hosted (on demand). Of these, on-premise eClinical solutions will dominate the market.
Based on end-user, it is segmented into academic research organizations, pharmaceutical companies, hospitals, consulting service companies, medical device manufacturers and contract research organizations. Of these, pharmaceutical companies will have the maximum share in the eClinical Solution Market.
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