e-Clinical Solutions – Leveraging Clinical Trial Data to Decrease Risk, Time, and Cost
Clinical development can be made better with the help of eClinical solutions’ data management and analysis capabilities. It provides electronic data capture (EDC), clinical reporting, a platform for storing and managing clinical data, as well as data management and standardization, allowing for full visibility into and utilization of clinical and operational data. eClinical software’s advanced visualization and analytical capabilities help users analyze, manage, integrate, and standardize all of their operational and clinical data. Clinical trial management systems (CTMS) aid users in many ways, including meeting government regulations, managing patients and investigators, keeping track of finances, and reporting adverse events.
In 2017, the global market for eClinical solutions was worth US$ 3.5 Bn. This figure is anticipated to grow at a healthy CAGR of 11.2% in the predicted period, 2018–2022. (2023 – 2030).
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The burgeoning eClinical solutions market can be attributed to the increasing pace of R&D in this sector at biotech and pharmaceutical firms
The widespread adoption of clinical solutions software in clinical trials is widely regarded as the primary factor fueling expansion of the eClinical solutions market. Growth in the eClinical solutions market is anticipated to be fueled in part by factors like rising R&D spending by biopharma and pharmaceutical companies and rising government funding. It is expected that the market for software solutions will expand during the forecast period due to the introduction of new products and the development of new technologies. The annual total of brand-new clinical trials listed has increased dramatically over the past 20 years, as reported by the U.S. National Library of Medicine.
Companies that invest heavily in R&D often outsource that work to other, less expensive countries. To help keep costs down, third-party service providers like CROs are dedicated to delivering accurate and timely information in accordance with regulatory guidelines and post-approval regulatory requirements. For example, Pfizer signed a contract with Parexel and Icon in 2011. During the five years of the contract, Parexel provided Pfizer with a variety of clinical development services.
Rising private and public funding to support clinical trials
The pharmaceutical industry and government agencies are gradually co-funding clinical trials. The number of industry-funded clinical trials in 2015 was 6,550, while the number sponsored by the National Institutes of Health was 1,048 (JAMA). Organizations like the National Institute of Health Research (NIHR) and the Medical Research Council receive funding from the British government to conduct studies on health (MRC). Through the National Cancer Institute, they also contribute to national cancer research coordination (NCRI). Nearly half over all cancer trials in the United States receive funding from the National Cancer Institute. Investment in health and medical R&D increased by 13.3 percent between 2013 and 2015, as reported by Research America. However, key factors hindering the growth of the eClinical solutions market include the high price of software implementation, a dearth of skilled professionals, data privacy concerns, and a lack of awareness about the software.
BioClinica Inc., CRF Health, DATATRAK International Inc., eClinical Solutions Inc., MaxisIT Inc., Medidata Solutions Inc., Merge Healthcare Inc., OmniComm Systems Inc., Oracle Co., and PAREXEL International Co. are among the leading companies in the eClinical solutions market.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 eClinical Solutions Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: eClinical Solutions Industry Impact
Chapter 2 Global eClinical Solutions Competition by Types, Applications, and Top Regions and Countries
2.1 Global eClinical Solutions (Volume and Value) by Type
2.3 Global eClinical Solutions (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global eClinical Solutions Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America eClinical Solutions Market Analysis
Chapter 6 East Asia eClinical Solutions Market Analysis
Chapter 7 Europe eClinical Solutions Market Analysis
Chapter 8 South Asia eClinical Solutions Market Analysis
Chapter 9 Southeast Asia eClinical Solutions Market Analysis
Chapter 10 Middle East eClinical Solutions Market Analysis
Chapter 11 Africa eClinical Solutions Market Analysis
Chapter 12 Oceania eClinical Solutions Market Analysis
Chapter 13 South America eClinical Solutions Market Analysis
Chapter 14 Company Profiles and Key Figures in eClinical Solutions Business
Chapter 15 Global eClinical Solutions Market Forecast (2023-2030)
Chapter 16 Conclusions
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