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eClinical Solutions Market Share Projected to Grow Radiantly by 2027; Asserts MRFR Unleashing the Forecast for 2021-2027
eClinical Solutions Market Share Projected to Grow Radiantly by 2027; Asserts MRFR Unleashing the Forecast for 2021-2027
eClinical solution is a combination of clinical technology and expertise which helps expedite the process of clinical development. The global eClinical solution market is projected to grow at a CAGR

eClinical solution is a combination of clinical technology and expertise which helps expedite the process of clinical development. The global eClinical solution market is projected to grow at a CAGR of approximately 12 % over the forecast period of 2021-2027, asserts Market Research Future (MRFR) in an exhaustive research report.

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 share

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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.

Market Segmentation:

The global eClinical solutions market has been segmented on the basis of product, delivery mode, and end-users. Based on product, the eClinical solutions market has been segmented into analytics platform, randomization & trial supply management systems (RTMS), clinical trial management systems (CTMS), electronic data capture (EDC), clinical data management systems (CDMS), clinical data integration platforms, electronic clinical outcome assessment (ECOA), safety solutions and electronic trial master files (ETMF). Based on delivery mode, the eClinical solutions market has been segmented into web-hosted (on demand), licensed enterprise (on-premise) and cloud-based (SaaS). Based on end-users, the eClinical solutions market has been segmented into contract research organizations, medical device manufacturers, consulting service companies, hospitals, pharmaceutical companies, and academic research organizations.

Regional Analysis:

North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW) are four regions that have been taken into account for a region-specific study of the global market. This type of study reveals growth pockets that can be taken into account for a better market evaluation in terms of prospects. 

The Americas had the lead in 2017 and its dominance is expected to continue in the coming years as well. The region has the U.S., Canada and other prominent countries that have been spending huge amount of money for a better intake of eClinical solutions. Europe’s growth is expected to be next only to that of the Americas. The region has similar features like that of the North America. Increasing expenditure in the research and development sector can also boost the regional market. The APAC market also has substantial market dominance. This regional growth can be attributed to the impact it is receiving from the transforming healthcare sector.

Competitive Landscape

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 eminent players operating in the global eClinical solution market.

Industry Updates

  • 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.

1 Executive Summary

1.1 Market Attractiveness Analysis 15

2 Market Introduction

2.1 Definition 19

2.2 Scope Of The Study 19

2.3 Assumptions 19

2.4 Market Structure 19

3 Research Methodology

3.1 Research Process 20

3.2 Primary Research 21

3.3 Secondary Research 22

3.4 Market Size Estimation 23

3.5 Forecast Model 23

4 Market Dynamics

4.1 Introduction 24

4.2 Drivers 25

4.2.1 Increasing R&D Activities By Biopharmaceutical And Pharmaceutical Companies 25

4.2.2 Growing Expenditure In The Development Of Clinical Trials 25

4.2.3 Rising Burden Of Chronic Diseases 25

4.2.4 Increased Use Of Smart Devices For Healthcare Management 26

4.3 Restraints 26

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