eClinical Solutions Market Segmentation by Product Type {Clinical Data Management Systems (CDMS), Electronic Data Capture (EDC), Clinical Trial Management Systems (CTMS), Electronic Clinic Outcome Assessment0 (eCOA), Randomization & Trial Supply Management (RTSM), Electronic Patient-Reported Outcome (ePRO), Electronic Trial Master File (eTMF), and Clinical Analytics Platform}; by Delivery Mode (Web-based, On-Premise, and Cloud); and by End users {Pharma & Biotech, Hospitals, and Contract Research Organizations (CROs)}-Global Demand Analysis & Opportunity Outlook 2031

Global eClinical Solutions Market Highlights Over 2022 - 2031

The global eclinical solutions market garnered an approximate revenue figure of USD 7.5 billion in year 2021 and is expected to grow at a CAGR of ~15% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the initiatives taken by the government in order to support clinical trials and research. Moreover, growing investment in research and development activities by multiple pharma & biotech companies is expected to add in the growth of the market. As per EFPIA, in the year 2018 the value of exports of the pharmaceutical industry in Europe alone accounted to around USD 469450 million. Furthermore, the growing adoption of software solution among pharmaceuticals companies is estimated to be a major growth factor for the market. Besides, the extensive data mounting in the healthcare industry is also considered to drive the market growth.

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eClinic refers to field of telemedicine which is used within biopharmaceuticals industry. eClinical solution is the combination of EDC and IVR systems in which the common data is shared in order to enter the same data or perform the same action in both applications. The advent of novel coronavirus (SARS-CoV-2), the cause of COVID-19 pandemic, has negatively affected every industry however, this did not stop the growth of eclinical solutions market. Instead, pharmaceuticals and biotechnology companies are investing even more significantly in research and development, which is expected to create numerous opportunities for market growth. All the organizations in this field are conducting clinical trials for vaccines and treatments against coronavirus across the globe. Since numerous clinical trials are estimated to increase, the demand for eclinical solutions is also expected to flourish in the upcoming years.

The global eclinical solutions market is segmented based on product type, delivery method, and end users. Out of these, the delivery method segment is further divided into web-based, on-premise, and cloud. The cloud segment is anticipated to hold the largest market size in value and is estimated grow at a notable CAGR during the forecast period. Various advantages associated with cloud solutions, such as maintaining client data on cloud server instead of in-house servers located within the facility is considered to boost the growth of this segment. Moreover, easy client access to data through the web that requires computer hardware and internet connection is also anticipated to give rise to the growth of the segment.

Global eClinical Solutions Market Regional Synopsis

Regionally, the global eclinical solutions market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in North America held the largest market share in the year 2021. Increasing government funding to assist clinical trials, ongoing product development and new product releases by eclinical solution vendors, and an increase in the number of collaborations for novel drug development are expected to boost the demand for eclinical solutions in this region. On the other hand, the market in Asia Pacific region is estimated to witness significant growth by growing at a higher CAGR over the forecast period on the back of increasing population, growing medical needs, and rising prevalence of chronic diseases such as cancer, cardiovascular conditions, and other infectious diseases.  According to United Nations Population Fund (UNFPA), the Asia Pacific region alone accounts to 60% of total world’s population. Moreover, government’s initiatives related to research and drug discovery, as well as investment in eclinical infrastructure is anticipated to be the major factor for growth of the market in this region.

Market Segmentation

Our in-depth analysis of the global eclinical solutions market includes the following segments:

By Product Type

• Clinical Data Management Systems (CDMS)

• Electronic Data Capture (EDC)

• Clinical Trial Management Systems (CTMS)

• Electronic Clinic Outcome Assessment (eCOA)

• Randomization and Trial Supply Management (RTSM)

• Electronic Patient-Reported Outcome (ePRO)

• Electronic Trial Master File (eTMF)

• Clinical Analytics Platform

By Delivery Mode

• Web-based

• On-Premise

• Cloud

By End Users

• Pharma & Biotech

• Hospitals

• Contract Research Organizations (CROs)

Growth Drivers and Challenges Impacting the Growth of the Global eClinical Solutions Market

Growth Drivers

• Increasing research and development activities

• Growing adoption of software solution

• Government initiatives to support clinical trials

Challenges

• High cost of implementation

• Concern regarding privacy of patient

Key Companies Dominating the Global eClinical Solutions Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global eclinical solutions market that are included in our report are DATATRAK International, Inc., Oracle Corporation, Signant Health, Dassault Systèmes S.E., eClinical Solutions LLC, IBM Corporation, Veeva Systems Inc., Mednet, Saama Technologies, Inc., and Parexel International Corporation among others.

Latest Developments in the Global eClinical Solutions Market:

• 01 March 2021: Saama Technologies, Inc. announced the collaboration with Oracle Corporation in order to integrate Oracle Health Sciences Clinical One platform. The aim of the collaboration is to provide artificial intelligence (AI) driven insights to the pharmaceutical companies.

• 20 October 2021: Parexel International Corporation announced a strategic alliance with Kyoto University Hospital in order to create more opportunities for clinical research along with providing productive clinical studies. The collaboration aims at offering better clinical trial benefits to patients and the pharmaceutical industries.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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