Portland, OR, Aug. 16, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global eClinical solutions market generated $6.82 billion in 2021, and is projected to reach $21.50 billion by 2031, growing at a CAGR of 12.2% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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COVID-19 Scenario:
- The outbreak of COVID-19 has had a positive impact on the growth of the global eClinical solutions market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the increased demand for clinical trials as more and more people were increasingly being contracted by the fatal COVID-19 infection. Thus, the number of clinical research activities initiated by professionals surged exponentially.
- These research activities were essentially carried out to determine the efficacy of the deadly virus and the effective drugs for the treatment of the COVID-19 infections. Thus, the demand for eClinical solutions surged rapidly.
- Besides, increased government emphasis and investment on clinical research further accelerated the growth of the market. Thus, the COVID-19 pandemic has had a positive impact on the growth of the market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $6.82 billion |
| Market Size in 2031 | $21.50 billion |
| CAGR | 12.2% |
| No. of Pages in Report | 358 |
| Segments covered | Product, delivery mode, clinical trial phase, end user, and region. |
| Drivers | Significant surge in number of diseases that led to drug development |
| Availability of improved research infrastructure | |
| Opportunities | Improved data visibility provided by eClinical solutions |
| Persistent technological advancements | |
| Restrains | Extortionate cost of implementation |
| Long approval time for clinical trials |
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The report offers a detailed segmentation on the global eClinical solutions market based on product, delivery mode, clinical trial phase, end user, and region.
Based on product, the electronic data capture and clinical data management systems segment held the dominating market share in 2021, holding more than one-fourth of the global market, and is expected to maintain its leadership status during the forecast period. The electronic clinical outcome assessment segment, on the other hand, is expected to cite the fastest CAGR of 13.4% during the forecast period.
Based on delivery mode, the web-hosted segment held the dominating market share in 2021, holding more two-fifths of the global eClinical solutions market. The cloud-based segment, on the other hand, is expected to cite the fastest CAGR of 13.4% during the forecast period. In addition, the same segment is expected to maintain its leadership status in terms of revenue during the forecast period.
Based on clinical trial phase, the phase II segment held the largest market share in 2021, holding nearly one-third of the global market, and is expected to maintain its leadership status during the forecast period. The phase I segment, on the other hand, is expected to cite the fastest CAGR of 13.0% during the forecast period.
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Based on end user, the contract research organizations segment held the dominating market share in 2021, holding nearly half of the global eClinical solutions market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 12.6% during the forecast period. The report also analyzes the segments including pharmaceutical and biopharmaceutical companies and others.
Based on region, the market across North America held the largest market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 13.2% during the forecast period.
The key players analyzed in the global eClinical solutions market include Oracle Corporation, Parexel International Corporation (Calyx), DataTrak International, Inc., Dassault Systèmes (Medidata Solution, Inc.), Clario, Signant Health (CRF Health Inc.), IBM Watson Health, and Veeva Systems.
The report analyzes these key players of the global eClinical solutions market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players of the market.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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