NEW YORK, May 26, 2020 (GLOBE NEWSWIRE) -- The global eClinical solutions market is predicted to grow at 14.0% CAGR during the forecast period with the market size reaching USD 13.4 billion by 2025.
The market is driven by the factors such as intensifying number of clinical trials, mounting implementation of software solution during clinical trials, increasing need for improved data standardization, the mounting requirement for analyzing and tracking data and intensifying research, and development expenditure by pharmaceutical and biotechnology companies. Expanding clinical trial outsourcing, expanding government grants to support clinical research, and amplified IT budgets for drug development are further fuelling the growth of the market.
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The market for eClinical solutions is primarily driven by the increasing number of clinical trials. With the expanding geriatric population, and mounting occurrence of chronic and lifestyle associated diseases such as diabetes, cardiovascular diseases, cancer, and obesity has resulted in increased frequency of pipeline drugs, which further increases the number of clinical trials for the introduction of novel drugs.
Moreover, pharmaceutical and biotechnology companies are investing comprehensively in research and development for the development of novel drugs for the treatment of chronic and lifestyle associated diseases. This offers market players immense opportunities for clinical trials, which will drive their revenue growth.
Among all types, electronic data capture and clinical data management system hold the largest share in the e-clinical solutions market, globally. The electronic clinical outcome assessment (eCOA) solutions segment is witnessing the highest growth in the market globally, owing to mounting need for electronic diaries in clinical studies, and the usage of mobile and digital technologies.
The different delivery modes of, the eClinical solutions market are on-demand/ web-based, on-premise, and cloud-based. Of all these delivery modes, the cloud-based category is predicted to witness the highest CAGR of xx% during the forecast period owing to the reduced maintenance cost, ease of integration, quicker deployment, improved productivity, flexible scalability, and faster operation. In addition, of all these delivery modes, the on-demand/ web-based category accounted for the largest share in the e-clinical solutions market owing to decrease in price, quicker recovery of data, and easy user access.
Based on end user the eClinical solutions market is segmented into pharmaceutical and biopharmaceutical companies, contract research organizations, consulting services companies, medical device manufacturers, hospitals, and academic research institute. Of all the end users, contract research organizations are expected to grow at the fastest rate during the forecast period, globally. Mounting clinical trial outsourcing, stringent regulations to ensure patient safety, and mounting demand for analyzing and tracking data are some of the factors facilitating the growth of the contract research organizations segment in the e-clinical solutions market.
Geography Insight
North America accounted for the major share in the eClinical solutions industry in 2017, globally as the players in the region are continuously investing spends in research and development by pharmaceutical and biotechnology companies. In addition, mounting demand for improved data standardization, and home to a large number of industry players are some of the factors facilitating the growth of the North American e-clinical solutions market.
Moreover, Asia-Pacific is observed to witness the fastest growth in the e-clinical solutions market, owing to mounting government sponsoring to strengthen clinical trials, the existence of less strict regulatory strategies, and less operational cost for clinical trials. Mounting healthcare expenditure, easy patient recruitment, mounting outsourcing of clinical trials, and the growing number of pharmaceutical companies and CROs are some of the factors fuelling the growth of the Asia-Pacific eClinical solutions market.
Competitive Insight
Key players in the eClinical solutions industry are investing in the development of advanced, which is strengthening their position in the market., Oracle Corporation, PAREXEL International Corporation Medidata Solutions, Inc., DATATRAK International, Inc., eClinical Solutions, Inc., Bio-Optronics, Inc., ERT, MaxisIT Inc., and OmniComm Systems, Inc. are some of the key players offering e-clinical solutions.
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The Report Offers:
- Historical market estimate for the years 2015–2019 and forecast for the years 2020–2025
- Insight on current market trends, market dynamics, key opportunities and major challenges in the industry
- Market insights by in-depth segmentation with industry dynamics.
- Competitive analysis and benchmarking of the industry leaders and their product offerings
- Profiles of leading players and innovators, their financial overview and product portfolio
- Analysis of key industry trends and recent developments
- Value chain analysis and application analysis with opportunity assessment
- Market share analysis of major players
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The report provides the market value for the base year 2019 and a yearly forecast till 2025 in terms of revenue (USD Million). The report segments the global eClinical solutions market on the basis of component, type, product, model, delivery mode, application and region.
Global eClinical Solutions Market Coverage
Type Insight and Forecast 2015-2025
- Electronic Data Capture (EDC) and Clinical Data Management System (CDMS)
- Clinical Trial Management System (CTMS)
- Clinical Analytics Platforms
- Randomization and Trial Supply Management
- Clinical Data Integration Platform
- Electronic Clinical Outcome Assessment (eCOA) Solutions
- Safety Solutions
- Electronic Trial Master File Systems
- Others
Delivery Mode Type Insight and Forecast 2015-2025
- On-Demand/ Web-Based
- Cloud-Based
- On-Premise
End User Insight and Forecast 2015-2025
- Pharmaceutical and Biopharmaceutical Companies
- Contract Research Organizations
- Consulting Services Companies
- Medical Device Manufacturers
- Hospitals
- Academic Research Institute
Geographical Segmentation
E-Clinical Solutions Market by Region
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Brazil
- South Africa
- Saudi Arabia
- U.A.E
- Other countries
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