Fort Collins, Colorado, Sept. 27, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "eClinical Solutions Market Size, Growth, Share, Statistics Report, By Product (EDC & CDMS, CTMS, Clinical Analytics Platforms, RTSM, Others), By Delivery Mode (Web-hosted, Licensed Enterprise and Cloud-based), By Clinical Trial Phase, By End-use, By Region, and Segment Forecasts, 2023-2032."
According to DataHorizzon Research, The eClinical solutions market was estimated to be valued at USD 8.0 Billion in 2022 and projected to reach USD 23.8 Billion by 2032 at a CAGR of 11.6%. The report comprehensively analyzes the market conditions at global and regional levels in the healthcare sector. It also highlights the collaborative strategies between key players and their overall impact on the global market.
eClinical trials generate a large amount of patient data from remote monitoring and wearable data, generating opportunities for data management tool providers. This data assists the research institutes in analyzing the ideal patient pool for specific clinical trials. With the use of data analytics, medical organizations identify patients from a group of diverse populations to diversify their clinical trials. Additionally, research institutes face various problems while handling these data, such as a growing variety of data types and standardization. This also provides opportunities for data management tool providers to integrate a more data-diverse environment in their products, which can ease the data processing process.
An increasing need to enhance patient engagement and patient centricity in clinical trials is a prominent factor contributing to market growth. Patient involvement in the early stages of clinical trials leads to faster enrollment, higher retention, and better compliance with study procedures, which provides quality trial data. As per a market survey, 55% of clinical trials worldwide were terminated due to the low patient accrual rate. Additionally, the enrollment efficiency for Phase III and IV was less than 40%. eClinical Solutions provides tools such as electronic data capture, clinical data management systems, integration capabilities, and digital health technologies. This reduces the participant burden in participating in clinical trials, facilitating recruitment, assessment, and monitoring of trial participants.
Additionally, the eClinical solutions help engage a diverse patient population, positively impacting the market expansion. According to the data published in the Scientific American Journal regarding using eClinical solutions for ethnic minority groups in the U.S., these groups accounted for 40% of the entire U.S. population. However, they comprise only 5-10% of the total clinical trial participants. To comprehend the safety profile of various medicines, involving a diverse group of participants is crucial.
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Report Snapshot:
| Report Title | eClinical Solutions Market |
| Market Size in 2022 | USD 8.0 Billion |
| Market Size by 2032 | USD 23.8 Billion |
| CAGR from 2023 to 2032 | 11.6% |
| Largest Market | North America |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations, Competitor Analysis, Trends, and Growth Factors |
| By Product | Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS), Clinical Trial Management Systems (CTMS), Clinical Analytics Platforms, Randomization and Trial Supply Management (RTSM), Clinical Data Integration Platforms, Electronic Clinical Outcome Assessment (eCOA), Safety Solutions, and Electronic Trial Master File (eTMF) |
| By Delivery Mode | Web-hosted, Licensed Enterprise and Cloud-based |
| By Clinical Trial Phase | Phase I, Phase II, Phase III and Phase IV |
| By End-use | Hospitals/Healthcare providers, CROs, Academic Institutes, Pharma & Biotech Organizations and Medical Device Manufacturers |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia, and South Africa |
| Major Market Players | IBM, Google, H2O.ai, Microsoft, Alteryx, Oracle, AWS, TIBCO Software Inc., SAS Institute Inc., Mathworks, Cloudera, and RapidMiner |
Segmentation Overview:
The global eClinical Solutions market has been segmented based on product, delivery mode, clinical trial phase, end-use, and region. CTMS segment accounted for the largest market share in 2022. A clinical trial management system (CTMS) is used to manage operations and processes and track the clinical research activities of a clinical trial. These systems enable compliance with legal procedures, guidelines, and standards, increasing data management efficiency.
North America's eClinical Solutions market accounted for the largest revenue share for 2022. The market projections till 2032 for the North America market include the high adoption of digital services and the trend of going paperless documentation. Also, the emergence of several startups with eClinical Solutions services is expected to catalyze market developments. Asia Pacific is a fast-growing market attributed to the growing adoption of digitalization in the healthcare industry.
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eClinical Solutions Market Report Highlights:
- The global eClinical Solutions market growth is anticipated to reach USD 61.5 Billion at a CAGR of 8.5% by 2032.
- eClinical solutions market growth drivers include the rise in digitization in the clinical domain. Also, the increased adoption of digital services to store and distribute medical records has encouraged positive market development.
- CRO segment accounted for a significant market share in 2022 attributed to the integrated technologies, artificial intelligence and machine learning in the clinical tools.
- North America is leading the eClinical solutions market owing to the increased dependency on digital mediums and the technology spending on digitalization.
- Some prominent players in the eClinical Solutions market report include Datatrak International, Inc., Oracle, Saama Technologies, Inc., Dassault Systemes, Bioclinica, CRF Health, ERT Clinical, eClinicalWorks, Anju Software, Inc., Clario, Parexel International Corporation (Calyx), veeva systems, MedNet Solutions, and MaxisIT Inc.
Key Developments in the Industry:
- In June 2023, the FDA announced guidelines to modernize clinical trials to offer more agility, enhanced data integrity, and patient protection.
- In June 2023, uMotif Partner and Syneos Health collaborated to design an eClinical platform emphasizing patient welfare. This collaboration aims to expedite clinical trials and introduce novel therapies through a highly efficient and end-to-end clinical platform that includes eCOA and ePRO capabilities.
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eClinical Solutions Market Report Segmentation:
eClinical Solutions Market, By Product (2023-2032)
- Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS)
- Clinical Trial Management Systems (CTMS)
- Clinical Analytics Platforms
- Randomization and Trial Supply Management (RTSM)
- Clinical Data Integration Platforms
- Electronic Clinical Outcome Assessment (eCOA)
- Safety Solutions
- Electronic Trial Master File (eTMF)
eClinical Solutions Market, By Delivery Mode (2023-2032)
- Web-hosted
- Licensed Enterprise
- Cloud-based
eClinical Solutions Market, By Clinical Trial Phase (2023-2032)
- Phase-I
- Phase-II
- Phase-III
- Phase-IV
eClinical Solutions Market, By End-use (2023-2032)
- Hospitals/Healthcare providers
- CROs
- Academic Institutes
- Pharma & Biotech Organizations
- Medical Device Manufacturers
eClinical Solutions Market, By Region (2023-2032)
- North America
-
- U.S.
- Canada
- Europe
-
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
-
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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