Shibuya-ku, Tokyo, Japan, Japan, Jan 04, 2022, 02:20 /Comserve / -- eClinical solutions are the ones that combine clinical technology with expertise and are widely used to improve the clinical development process through various data tools such as data management and data analysis.
eClinical solutions are the ones that combine clinical technology with expertise and are widely used to improve the clinical development process through various data tools such as data management and data analysis. Major factors that are characterizing the market growth are increasing R&D activities by biopharmaceutical and pharmaceutical companies, rising burden of chronic diseases, soaring expenditure on the development of clinical trials, and increased adoption of smart devices for healthcare service management. The reasons for the high demand for eClinical solutions are the rising costs of operational and regulatory requirements.
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The eClinical solutions market is segregated on the basis of product, clinical trial, delivery mode, and by geography:
Based on Product
• Clinical Data Management Systems (CDMS) and Electronic Data Capture (EDC)
• Clinical Trial Management Systems (CTMS)
• Clinical Analytics Platform
• Randomization and Trial Supply Management (RTMS)
• Clinical Data Integration Platform
• Electronic Clinical Outcome Assessment (eCOA)
• Safety Solutions
• Electronic Trial Master Files (eTMF)
• Regulatory Information Management Solutions (RIMS)
• Others (Institutional Review Board Systems, Coding Systems, and Core Lab Integration Solutions)
Based on Clinical Trial
• Phase I
• Phase II
• Phase III
• Phase IV
Based on Delivery Mode
• Web-Hosted
• Licensed Enterprise
• Cloud-Based
Based on Geography:
• North America
• Europe
• Asia Pacific
• Rest of the World
Based on the product, the market segmented by EDC and CDMS, CTMS, Clinical Analytics Platform, RTMS, Clinical Data Integration Platform, eCOA, Safety Solutions, eTMF, RIMS, others. Electronic Clinical Outcome Assessment (eCOA) is assumed to be the rapidly growing segment in the forecast period 2020-2026 since the growing importance of high-quality clinical data. The process of data capturing using eCOA platforms improve the quality of information captured, efficient data collection procedures as well as offers potential data analysis.
Based on the clinical trial phase, the market of EClinical is segmented into Phase I, Phase II, Phase III, and Phase IV. The phase III clinical trial segment is likely to lead the market throughout the forecast period. The need for integration of clinical data management software to restrain overall cost and improve process efficiency as well as an increasing number of drugs successfully reaching phase III is impelling the growth of the segment. Phase III involves the study of the efficacy of a drug by using a group of more than 1,000 patients. A large number of patients increase the complication of the study, which prompts the demand for computer-based systems, thereby rev up the acquisition.
Based on delivery mode, the market has been segmented into three categories: Web-hosted (On-demand), Licensed Enterprise (On-premise), and Cloud-based. Web-hosted solutions have been the dominating segment in the market for eClinical solutions in 2019. The benefits of this segment, such as easy accessibility, usability, and lower investments required, are attributed to the dominance of this segment. Web-hosted products are versatile as they are easily customizable, owing to this fact, providers can also customize the presentation details of information for different user groups. Moreover, these products possess a greater level of interoperability. The segment is predicted to be maintaining its position throughout the forecast period of 2020-2026.
Further, in the end-user segmentation, the market is segmented among the contract research organizations, pharmaceutical, and biopharmaceutical companies, medical device manufacturers, consulting service companies, hospitals, and academic research institutions. The contract research organization is having the highest lucrative share in the market. The segment is expected to enlarge at a distinctive CAGR in the forecast period ascribed to the rising tendency of pharmaceutical companies to decline overall spending.
There has been a growth in the adoption of eClinical solutions in R&D, which is further broadening the scope of the segment.
For the year 2019, North America was the leading revenue contributor. The target population, which is constantly increasing, is coming with a risk of lifestyle-associated diseases such as cardiac disorders and diabetes. This is expected to lead to growth in the regional market for EClinical Solutions. Even the presence of significant companies, as well as the attainability of fully-developed infrastructure, is expected to accelerate the growth of the market of eClinical solutions.
Asia Pacific is projected to record a notable CAGR over the 2020-2026 forecast periods. High unfulfilled medical requirements and the increasing incidence of non-communicable diseases such as cancer, cardiovascular, and infectious diseases are stoking the demand for eClinical solutions in the region.
Globally, the EClinical Solutions Market is growing at a CAGR of 12.5% during the forecast period of 2020-2026, with a base value of $6.27 billion in 2020 to $12.76 billion in 2026. The factors which are responsible for driving this market are increasing acquisition of eClinical solutions for advanced data arrangement process as well as the acquisition of novel software solutions, which helps in organizing the research activities in clinical research.
The report also includes the analysis of major players in the area of the eClinical Solutions market. Some of the dominant players consist of Crf Health, Oracle Corporation, Medidata Solutions, Inc, Bioclinica, Inc, Parexel International Corporation, Thermo Fisher Scientific, Inc, Merge Healthcare Incorporated, Omnicomm Systems Inc, ERT CLINICAL, and Maxisit Inc.
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This market report will help the market players to comprehend various key market trends, market dynamics, and the needs of the end-users. The qualitative and quantitative analysis of the market definitely enables the user experience of the report.
• Overall information is given by the major competitors on eClinical solutions in this report.
• This research offers present technologies, research activities in the eClinical solutions market.
• Analysis based on the quantitative of the market assists the users to know the actual facts of the market across four major regions, and then accordingly, the company may plan to enter into any region.
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
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