Pune, India, June 10, 2019 (GLOBE NEWSWIRE) -- According to Market Research Future (MRFR)’s assessment, the global eClinical solutions market is expected to touch a valuation of USD 9434.57 Mn by the end of the forecast period (2018 to 2023) striking a robust CAGR of 12.24%. The growth of the pharmaceutical industry is poised to support the expansion of the market over the next couple of years.
The increasing patient population, in conjunction with the rising burden of chronic diseases, has led to a drastic rise in research & development for drug discovery. This, in turn, is projected to propel the expansion of the eClinical solutions market in the years to come. In addition, investments being made into clinical trials are also projected to influence the growth pattern of the market positively in the nearby future.
The eClinical solutions market is anticipated to witness boom owing to its extensive use during clinical trials for decision making and enhancing efficiency. It also helps in reducing the costs of the trials which is expected to act as a growth catalyst for the market.
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Key Players:
The prominent players of eClinical solutions market profiled in this report are ERT Clinical, BioClinica, Inc., PAREXEL International Corporation, CRF Health, DATATRAK International, Inc., Oracle Corporation, Merge Healthcare Inc, Omnicomm Systems, Inc., Medidata Solutions, Inc., and MaxisIT.
Market Segmentation:
This MRFR report covers an exhaustive segmental analysis of the global eClinical solutions market based on type, delivery mode, clinical trial phase, and end-user. By type, the market is segmented into Clinical Data Management System (CDMS), Randomization and Trial Supply Management (RTSM), Electronic Clinical Outcome Assessment (eCOA), Clinical Trial Management System (CTMS), Electronic Trial Master Files (eTMF), and trial safety & regulatory. Among these, the Clinical Data Management System (CDMS) segment is projected to hold the dominant share of the market and reach a valuation of USD 2579 Mn by the end of the assessment period. On the other hand, the electronic clinical outcome assessment (eCOA) segment is anticipated to expand at a higher CAGR of 14.98% during the forecast period.
Based on delivery mode, the eclinical solutions market has been bifurcated into web-based and cloud-based, and enterprise-based.
The market, by clinical trial phase, has been segmented into phase I, phase II, and others.
On the basis of end-user, the market has been bifurcated into Contract Research Organizations (CROs), and pharma/biotech companies.
Americas to retain its forefront position in the global marketplace
The regional assessment of the global eClinical Solutions Market spans across Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA). Americas accounted for the largest share of the market in 2017 which accounted for 47.99% share. It is projected to strike a robust CAGR of 12.41 % over the assessment period. The U.S. is projected to lead the growth of the regional market in the upcoming years. On the other hand, Canada is poised to exhibit tremendous potential and expand at a relatively higher CAGR of 9.98% across the review period.
Asia Pacific signifies immense growth potential and is likely to exhibit a steep rise in the growth curve. The presence of a vast patient population, in conjunction with increasing outsourcing of clinical trials, is anticipated to catapult the eClinical solutions market in the region on an upward trajectory. In addition, the rising geriatric population is another major factor expected to propel the expansion of the regional market in the years to come. India is expected to dictate the growth of the eclinical solutions market in the region trailed by China and Japan.
Browse the market data and information spread across 104 pages with 121 data tables and 31 figures of the report “eClinical Solutions Market- Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/eclinical-solution-market-2294
Latest Industry Trends:
- OmniComm Systems, Inc., a renowned provider of clinical data management technology, hosted Innovation Forum Asia with patient-centric eClinical solutions, drug innovations, and the latest trends in pharmaceutical research as the primary agenda.
- ClinCapture, Inc., a leading eClinical software company, announced that its integrated Captivate Platform has resulted in a record number of new customers.
- An eClinical software as a service (SaaS) company, Medrio, has partnered with a provider of cloud-hosted services, Adaptive Clinical Systems, for expanding integration options between the Medrio platform and other eClinical systems.
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