The global eClinical solutions market is expected to rise from its initial estimated value of USD 5.09 billion in 2018 and is expected to grow to USD 13.27 billion in 2026 registering a CAGR of 12.8% in the forecast period of 2019-2026. This rise in the market can be attributed to the enormous data captured from healthcare industry.
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To improve research and development efficiency, now a days most research labs are equipped with technology-enabled software known as eClinical solutions. These software solutions are essential to manage trial data, reduce development costs, support faster decisions for potential new drug candidates, and increase to increase efficiency throughout the process. In the past five years in the U.S., 75,000 clinical trial data have been generated according to the National Institute of Health’s Clinical Trials registry.
Key Market Competitors: Global eClinical Solutions Market
Few of the major market competitors currently working in the eClinical solutions market are Oracle Corporation, Bioclinica.., PAREXEL International Corporation, OmniComm Systems, ERT Clinical., DATATRAK Int.., HumanTouch, LLC, eClinical Solutions LLC., Medidata Solutions Inc., Merge Healthcare Incorporated, and CRF Health., IBM Watson Health, MaxisIT
- Growing adoption of software solutions in clinical research
- Increasing operational cost and regulatory requirements associated with preclinical research studies
- High cost of maintenance associated with eclinical solutions software
- Lack of trained professionals that can completely utilize these softwares
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The global eClinical solutions market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of eClinical solutions market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Segmentation: Global eClinical Solutions Market
- By Product Type
- Clinical Data Management Systems (CDMS)
- Clinical Trial Management Systems (CTMS)
- Randomization and Trial Supply Management
- Electronic Data Capture (EDC)
- Electronic Clinical Outcome Assessments (eCOA) & Electronic Patient-Reported Outcomes (ePRO)
- By Deployment Mode
- Web-based hosted eClinical solutions
- Cloud-based eClinical solutions
- Licensed Enterprise (On-premise)
- By End-User
- Contract Research Organizations (CROs)
- Others (Biopharma and Medical Device Companies)
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In December 2017, PAREXEL International Corporation has introduced the Perceptive Cloud. This will help the life sciences industry. It was created in alliance with Microsoft Corp, which provides cloud infrastructure built on Microsoft Azure.
- In November 2017, Bioclinica, Inc. launched the Bioclinica Clinical Adjudication. This software will enable the independent adjudication of clinical events in association with the regulatory requirements governing clinical trials within all therapeutic areas.
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