Global eClinical Solutions Marketis expected to reach US$ 9.59 Bn by 2024 from US$ 3.75 Bn in 2016 at CAGR of 12.45% (Detailed analysis of the market CAGR is provided in the report).
Global eClinical Solution Market
Global eClinical Solutions Market is segmented by product, clinical trial phase, delivery mode, end user, and geography. A web-hosted segment is expected to register the highest growth in the forecast period. Its cost-effectiveness and easy user access will fuel the web-hosted segment growth. Clinical Trial phase segment is divided as phase 1, phase 2, phase 3 and phase 4. An end-user segment is classified as pharmaceutical and biopharmaceutical companies, academic research institutions, contract research organizations, consulting service companies, medical device manufacturers and hospitals. The market on the basis of geography is segmented by North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Growing adoption of eClinical solutions for improved data standardization is trending the overall Global eClinical Solutions market. The eClinical solutions market is estimated to witness phenomenal growth over the forecast period. The high cost of implementation coupled with the dearth of skilled professionals can pose as a major obstacle for the growth of the eClinical solutions market. Lack of awareness among researchers regarding the advantages of the eClinical solution and less developed infrastructure especially in the developing countries are hindering the eClinical solutions market growth. Huge installation and implementation costs are further hampering the industry demand.
The EDC and CDMS systems provide a higher security of data as they allow users to update data files preventing file corruption. It also provides consistency and efficiency of operation and also provides remote access to the trial data without actually being present at the site. In terms of end-user, the pharmaceutical industry is leading the eClinical solutions market as it assists in carrying out day-to-day operations such as conducting study feasibility, providing a centralized place to carry out trial-related information, and improved clinical data management by equipping staff and data administers.
APAC is going to emerge as one of the higher growth regions in the forecast period followed by North America and Europe. Growth in government funding to support clinical research and increasing outsourcing of clinical trials by large pharmaceutical and biopharmaceutical organizations to emerging economies like India and China will fuel the Global eClinical Solutions Market in the APAC region.
Some of the key players in the eClinical Solutions Market are arexel International Corporation, Oracle Corporation, Merge Health Incorporated, Datatrak International, Inc., BioClinica, CRF Health, ERT, E-Clinical Solutions, OmniComm Systems Inc, and Medidata Solution, Inc.
Global Eclinical Solutions Market, By Product:
• Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS)
• Clinical Trial Management Systems (CTMS)
• Clinical Analytics Platform
• Randomization and Trial Supply Management (RTMS)
• Clinical Data Integration Platform
• Electronic Clinical Outcome Assessment (eCOA)
• Safety Solutions
• Electronic Trail Master Files (eTMF)
• Regulatory Information Management Solutions (RIMS)
Global Eclinical Solutions Market, By Clinical Trial Phase:
• Phase 1
• Phase 2
• Phase 3
• Phase 4
Global Eclinical Solutions Market, By Delivery Mode:
• Web-hosted (On-demand)
• Licensed Enterprise (On-premise)
• Cloud-based (SaaS)
Global Eclinical Solutions Market, By End User:
• Pharmaceutical and Biopharmaceutical Companies
• Academic Research Institutions
• Contract Research Organizations
• Consulting Service Companies
• Medical Device Manufacturers
Global Eclinical Solutions Market, By Geography:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players in the Global eClinical Solutions Market Are:
• Oracle Corporation
• Parexel International Corporation
• Medidata Solution, Inc.
• DataTrak International, Inc.
• CRF Health
• Merge Health Incorporated
• E-Clinical Solutions
• OmniComm Systems Inc
• Maxisit Inc.
• Bio-Optronics, Inc.
• ERT Clinical
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Global eClinical Solutions Market
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