EClinical Solutions Market is Anticipated to Reach a Valuation of US$ 29.9 Billion by 2031, Projecting an Impressive 13.6% CAGR from 2023 to 2031: Transparency Market Research Inc.

Wilmington, Delaware, United States, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The eClinical solutions market is poised for robust growth, with a projected CAGR of 13.6% spanning from 2023 to 2031, as stated in TMR's report. The market is expected to reach a valuation of US$ 29.9 billion by 2031, while in 2023, it is projected to stand at US$ 10.7 billion.

Increasing clinical trial complexity such as involving larger patient populations, multiple study sites, and a greater number of data points drives the demand for eClinical solutions that offer tools for efficiently managing and analyzing complex trial data, improving trial efficiency,

The eClinical solutions are essential for managing the growing volume of trial data efficiently in the pharmaceutical and biotechnology sectors, and the increased number of clinical trials, to drive the market demand.

Clinical trials play a critical role in the drug development process and involve a substantial amount of data collection, management, and analysis. The demand for eClinical solutions is rising in clinical trials.

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Market Snapshot:

Key Takeaways from the Market Study

• As of 2022, the eClinical solutions market was valued at US$ 9.5 billion

• By end user, pharmaceutical and biotechnology companies segment to enjoy high demand, accumulating a high revenue share during the forecast period.

• Based on delivery mode, the web-based segment is estimated to dominate the industry during the forecast period.

• Based on the clinical trial phase, the phase III segment is expected to account for major market share in the next few years. Phase III clinical trials are large-scale studies conducted to evaluate the safety and efficacy of a drug or medical intervention on a larger patient population.

EClinical Solutions Market: Key Trends and Opportunistic Frontiers

• Pharmaceutical and biotech companies are increasingly conducting trials in emerging markets due to patient diversity and lower operational costs. Thus the demand for eClinical solutions for managing these trials efficiently across geographies has increased significantly
  

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EClinical Solutions Market- Regional Analysis

• North America is likely to dominate the global landscape in the near future. Well-established healthcare infrastructure, an increase in the number of clinical trials, and a strong emphasis on technological advancements are fueling market progress in the region

• The eClinical solutions market size in Asia Pacific is anticipated to increase during the forecast period, owing to the large patient population and rise in clinical research activities. The presence of a well-established pharmaceutical industry and increased adoption eClinical solutions to modernize clinical research processes and enhance data management.

Competitive Landscape

The global landscape is fragmented, with the presence of several leading players that control majority of the eClinical solutions market share. As per eClinical solutions market analysis, companies are implementing innovative strategies such as expansion of product portfolio, partnerships, and mergers & acquisitions to strengthen their position.

• ArisGlobal LLC
• Clario
• eClinical Solutions LLC
• Evidation Health, Inc.
• Florence Healthcare
• Advarra, Inc.
• Dassault Systèmes S.E. (Medidata)
• Medrio, Inc.
• Oracle Corporation
• Parexel Corporation
• Signant Health
• Veeva Systems Inc.
• Viedoc Technologies
• MedNet Solutions
• Anju Software, Inc.  
  

Key Developments in the EClinical Solutions market

• Medidata has been actively advancing its eClinical solutions. They have introduced Medidata Sensor Cloud, a platform that enables the collection of patient-generated health data from wearable devices. This helps in real-time monitoring of patients in clinical trials.

• Oracle Health Sciences has been focusing on the integration of its clinical trial software suite, including Siebel CTMS and Oracle Health Sciences InForm EDC. They aim to provide a seamless end-to-end solution for clinical trial management and data capture.

• MedNet Solutions has continued to innovate in the field of EDC and eClinical solutions. They have launched a unified eClinical solution suite designed to simplify the capture and management of clinical trial data.

• OmniComm Systems has expanded its eClinical platform, TrialMaster, to offer enhanced data analytics and real-time monitoring capabilities. These developments are aimed at improving the efficiency and quality of clinical trials.

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EClinical Solutions Market – Key segments

Solution Type 

• Clinical Trial Management Systems 
• Electronic Clinical Outcome Assessment 
• Randomization & Trial Supply Management 
• Electronic Data Capture & Clinical Data Management 
• Electronic Trial Master Files 
• Patient Recruitment 
• Regulatory Information Management Systems 
• Others (Clinical Data Integration Platforms, Trial Safety & Regulatory, eConsent, etc.) 

Delivery Mode 

• Licensed Enterprise/On-premise 
• Web-based 
• Cloud-based/Software-as-a-service (SaaS) 
  

Clinical Trial Phase 

• Phase I 
• Phase II 
• Phase III 
• Phase IV 

End-user 

• Pharmaceutical & Biotechnology Companies 
• Medical Device Manufacturers 
• Contract Research Organizations 
• Others (Hospitals, Academic & Research Institutes, etc.) 

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