The global eClinical Solutions market size worth around US$ 16.36 bn by 2027 and growing at a noteworthy CAGR of 13.6% % throughout the forecast period 2020 to 2027.
Precedence Research, Recently Published Report on “eClinical Solutions Market Size, Share, Growth, Trends, Segment Forecasts, Regional Outlook 2020 - 2027”. The report offers an up-to-date analysis regarding the current market scenario, latest trends, key drivers, potential challenges, profitability graph and the overall market environment.
eClinical solutions are applications and software that are used for management of clinical research and clinical trials I biotechnology and pharmaceutical industry. This software helps to maintain, manage, track deadlines, and record data.
Get the Sample Pages of Report for More Understanding@ https://www.precedenceresearch.com/sample/1092
Growth Factors
Increase in the number of customers adopting eClinical solutions, rising Research and Development (R&D), and rise in government grants to authorize the clinical trials. These solutions are also used in clinical studies where electronic applications enabled with web tools are used to capture the real-time data from clinical trials that provide superior execution and escalate the eClinical solutions market growth.
Rising demand for clinical trials by biopharma and pharma companies boosts the industry demand. They offer services for large consumer base at low operating costs that again propel the eClinical solutions market growth. eClinical solutions also helps in organizing, tracking, and executing data from numerous geographical locations and also triggers the process of clinical development.
Factors such as real-time notifications, real-time reporting, real-time tracking, and configurable report building expected to augment the industry growth in the near future. In addition, eClinical solutions make electronic data capture, clinical data management, statistical programming, data conversion & standardization, and data reporting enormously easy that further drives the eClinical solutions market growth. These solutions also use products, technology, and services to offer clinical trials that reduce human errors and effectively manage large amount of data in real-time. Technological advancements in the eClinical solutions, globalization of clinical trials, enhancement in efficiency provided by eClinical solutions, and reduced costs are some of the main drivers of the eClinical solutions market.
Report Highlights
- In 2019, North America captured the highest market value share owing to rising prevalence of lifestyle with several diseases such as cardiac disorder and diabetes
- The Asia Pacific exhibits lucrative growth over the analysis period due to rising prevalence of chronic diseases such as cardiovascular conditions, cancer, and infectious diseases
- Electronic Clinical Outcome Assessment (eCOA) estimated to be the fastest growing product segment over the analysis period due to rising importance of high-quality clinical data
- By development phase, phase III segment lead the global market throughout the forecast period due to rising need for clinical data management software
- Phase I likely to execute promising growth during the analysis period owing to increased importance of these systems to analyze future outcomes
- Based on delivery mode, web-hosted solutions accounted maximum value share in 2019 due to its benefits that are usability, easy accessibility, and lower investments required
- Cloud-based solutions predicted to exhibit strong growth during the analysis period due to integrated features such as high accessibility, flexibility, and easy data backup
- CROs dominated the global market and expected to witness notable growth in the coming years owing to the rising concern of pharmaceutical companies to reduce their overall expenditure
- Pharmaceutical and biotechnology companies expected to witness prominent growth over the forecast period.
Get Customization on this Research Report@ https://www.precedenceresearch.com/customization/1092
Regional Snapshots
In 2019, North America held significant value share in the global eClinical solutions market owing to increase in the number of clinical trials in the region. Further, rising government grants for clinical trials, huge funding in R&D activities, technological advancements, along with significant rise in the lifestyle associated diseases are the key factors that propel the industry growth.
However, the Asia Pacific encountered an escalating CAGR over the forecast timespan due to the rising investment in R&D. The developing economies in the region such as China, India, and Korea have been pictured as the major destinations for outsourcing the clinical trials because of huge population-base along with low-cost services. Furthermore, lesser stringent laws compared to developed countries, increasing number of patients, and fast patient admission for clinical trials expected to augment the market growth in the region.
Key Players & Strategies
The global eClinical solutions market seeks high competition among the industry participants. These market players are significantly involved in different inorganic growth strategies such as mergers & acquisitions, new product development, and collaborations that help them to maintain their position in the market. For instance, in November 2019, eClinical Works signed a collaboration deal with Trusted Health Plan; GuideWell; and Humana Inc. aiming to offer bidirectional healthcare interoperability solutions to providers, patients, and payers. Similarly, in September 2018, Bracket and CRF Health signed a joint venture agreement under which the newly formed company was renamed as CRF Bracket. The newly formed company offers different services and technologies for clinical research that are used in drug development companies.
Some of the key players operating in the market are PAREXEL International, Oracle Corp., Bioclinica, Medidata Solution, DATATRAK, ERT Clinical, CRF Health, eClinicalWorks, OmniComm Systems, IBM Watson Health, and eClinical Solutions among others.
Market Segmentation
By Product
- EDC & CDMS
- eCOA
- Clinical Data Integration Platforms
- CTMS
- Safety Solutions
- RTSM
- Clinical Analytics platforms
- eTMF
By Development Phase
- Phase IV
- Phase III
- Phase II
- Phase I
By Delivery Mode
- Licensed Enterprise
- Web-hosted
- Cloud-based
By End-Use
- CROs
- Hospitals
- Academic Institutes
- Medical Device Manufacturers
- Pharma & Biotech Organizations
By Regional Outlook
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of the World
Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1092
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 774 402 6168
Contact Us:
Precedence Research
Apt 1408 1785 Riverside Drive Ottawa, ON, K1G 3T7, Canada
Call: +1 774 402 6168
Email: sales@precedenceresearch.com
Blog: https://precedenceresearchnews.wordpress.com
Follow us on LinkedIn| Twitter| Facebook
0 Comments