According to the current analysis of Reports and Data, the Global eClinical Solutions Market was valued at USD 4.85 Billion in 2019 and is expected to reach USD 14.03 Billion by the year 2027, at a CAGR of 13.9% from 2020-2027.
Clinical trials are the most time-consuming phase of drug development. The increasing demand for clinical trials by pharmaceutical giants and biotech companies propels the eClinical Solutions market growth. eClinical Solutions provide administrations to an enormous client base at a low working expense. Additionally, they help with the tracking of information from different geographic areas, arranging, and the execution of this information and drive the procedure of clinical advancement. eClinical solutions are advantageous to reduce the time spent on assembling and analyzing data in clinical trials
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The rise in the appropriation of software solutions in eClinical research in trials offers various potential in clinical development processes. It can help in lowering the cost and reducing the time between the development phase by the identification of failing compounds. Moreover, it also offers data standardization and fast retrieval of data, which is beneficial in making quick decisions at every stage of development.
Key market players in the eClinical Solutions market are adopting strategies such as product development, partnerships, mergers, and acquisitions to maintain their position in the market. For instance, Oracle solutions offer eClinical software as a service platform solution for core administrations. In 2018, Medidata and eClinical Solutions LLC extended their technology partnership to improve clinical trial processes.
Further key findings from the report suggest
- CDMS led the product segment in 2019 with over 27% eClinical solutions market share, owing to various benefits provided by the product such as end-to-end management of various databases, clinical trial activities, and real-time status tracking, which improves the general effectiveness of clinical trials.
- eClinical Solution system, especially, the Cloud-based delivery system is expected to grow at the CAGR of 14.8% owing to ease of integration and rapid deployment.
- Increasing clinical research in developing countries such as India, Bangladesh is expected to support the growth of the eClinical Solutions market during the forecast years.
- Increasing investment in research and development by pharmaceuticals and biotechnology companies, resulting in the launch of new products, are some of the factors that support the eClinical solutions market growth during forecast years. For instance, in 2018, Oracle launched a new, holistic, unified cloud-based eClinical solution, Clinical One Platform, with the intention of launching new drugs in the market with a focus on quality and safety.
- Key participants in the eClinical solutions market include Oracle Corporation, Medidata Solutions, PAREXEL International Corporation, BioClinica, CRF Health, DATATRAK International, ERT, and eClinical Solutions.
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For the purpose of this report, Reports and Data has segmented the eClinical solutions market on the basis of product, development phase, mode of delivery, end-use, and region:
Product (Revenue, USD Million; 2017–2027)
- Electronic Clinical Outcome Assessment (ECOA)
- Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)
- Clinical Analytics Platforms
- Clinical Data Integration Platforms
- Safety Solutions
- Clinical Trial Management Systems (CTMS)
- Randomization and Trial Supply Management (RTSM)
- Electronic Trial Master File (eTMF)
Development Phase (Revenue, USD Million; 2017–2027)
- Phase I
- Phase II
- Phase III
- Phase IV
Mode of Delivery (Revenue, USD Million; 2017–2027)
- Web Hosted
- Licensed Enterprise
End-Use (Revenue, USD Million; 2017–2027)
- Contract Research Organizations (CROs)
- Academic Institutes
- Pharmaceuticals & Biotech Organizations
- Medical Device Manufacturers
Regional Outlook (Revenue in USD Million; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- Latin America
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