The Global eClinicalSolutions Market, by Deployment (Web-based, Cloud-based, and LicensedEnterprise), by Product Type (Electronic Data Capture, Electronic ClinicalOutcome Assessment, Clinical Data Management System, Clinical Trial ManagementSystem, Clinical Analytics Platform, Randomization and Trial Supply Management,Electronic Trial Master File, and Others), by End User (Pharmaceutical andBiopharmaceutical Companies, Hospitals, Consulting Servicing Companies,Research Organizations, and Medical device Manufacturers), and by Region (NorthAmerica, Latin America, Europe, Asia Pacific, Middle East, and Africa) wasvalued at US$ 3.5 billion in 2017 and is projected to exhibit a CAGR of 11.2%over the forecast period (2018 – 2026). The eClinical solutions market isexpected to gain significant traction, due to increasing R&D bybiotechnology and pharmaceutical companies.
Increasing R&D bybiotechnology and pharmaceutical companies is expected to drive growth of themarket Pharmaceutical and medical device companies face a number of challengesto commercialize existing and developing new products, such as patent expiry,competitive pricing pressure, and rising regulatory burden imposed due toincreasing clinical trial complexity, development costs, and data volumes. Therisks and costs associated with developing new treatments, mainly related todrug trials continue to increase. All these factors collectively increase thedemand for eClinical solutions software. eClinical solutions software reducedrug development costs and improve efficiency by streamlining and automatingthe clinical trial process, and optimizing return on investment in new drugdevelopment. Electronic data capture (EDC) and clinical trial managementsystems (CTMS) are the most prominent eClinical solutions software. Thissoftware allow individuals to manage increasing data volumes while aiding theflexibility and speed required to execute emerging trial concepts that offermore effective commercialization. A CTMS can improve the management of the drugdevelopment process by providing a single, centralized system to manageoperational and administrative activities and a real-time view of trial datathat can be shared across the organization. However, high implementation costof software, lack of skilled professional, data privacy issues, and lowawareness about the software are the major factors hampering eClinicalsolutions market growth.
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Browse 45 Market Data Tables and30 Figures spread through 200 Pages and in-depth TOC on “eClinical SolutionsMarket, by Deployment (Web-based, Cloud-based, and Licensed Enterprise), byProduct (Electronic Data Capture, Electronic Clinical Outcome Assessment,Clinical Data Management System, Clinical Trial Management System, ClinicalAnalytics Platform, Randomization and Trial Supply Management, Electronic TrialMaster File, and Others), by End User (Pharmaceutical and Biopharmaceuticalcompanies, Hospitals, Consulting Servicing Companies, Research Organizations,and Medical device Manufacturers), and by Region (North America, Latin America,Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026”
Key industry players operatingthe eClinical solutions market include BioClinica Inc., CRF Health, DATATRAKInternational Inc., eClinical Solutions Inc., MaxisIT Inc., Medidata SolutionsInc., Merge Healthcare Inc., OmniComm Systems Inc., Oracle Co., and PAREXELInternational Co. Major industry players are adopting strategies such asproduct enhancement, partnerships, and agreements for new product developmentstrategies to sustain and progress in eClinical solutions market. For instance,in 2018, Medidata and eClinical Solutions LLC expanded their technologypartnership to further enhance clinical trial processes and help life sciencesresearchers deliver new therapies to patients with the adoption of Rave Imaging.Companies such as Veeva Systems, Oracle, and Medidata Solutions are offeringintegrated and unified eClinical solution software to improve trial efficiencyand compliance processes across the R&D value chain.
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Key Takeaways of the eClinicalSolutions Market:
The global eClinical solutionsmarket is expected to exhibit a CAGR of 11.2% over the forecast period, owingto growing adoption of software solutions during clinical research and risinggovernment funding to support clinical trials.
Among deployment types, thecloud-based segment is estimated to hold the dominant position, as it is idealfor complex and multisite clinical studies
Among product types, the clinicaldata management system (CDMS) is estimated to hold major share due to its highquality, reliable, and statistically sound data
Among end users, pharmaceuticaland biopharmaceutical companies segment holds a dominant position in theeClinical solutions market, owing to increasing usage of software for drugdevelopment
Asia Pacific eClinical solutionsmarket is expected to exhibit significant growth, owing to increasing number ofclinical trials being performed.
Key players operating in theglobal eClinical Solutions software market include BioClinica Inc., CRF Health,DATATRAK International Inc., eClinical Solutions Inc., MaxisIT Inc., MedidataSolutions Inc., Merge Healthcare Inc., OmniComm Systems Inc., Oracle Co., andPAREXEL International Co.
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