The Global eClinical
Solutions Market, by Deployment (Web-based, Cloud-based, and Licensed
Enterprise), by Product Type (Electronic Data Capture, Electronic Clinical
Outcome Assessment, Clinical Data Management System, Clinical Trial Management
System, Clinical Analytics Platform, Randomization and Trial Supply Management,
Electronic Trial Master File, and Others), by End User (Pharmaceutical and
Biopharmaceutical Companies, Hospitals, Consulting Servicing Companies,
Research Organizations, and Medical device Manufacturers), and by Region (North
America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was
valued at US$ 3.5 billion in 2017 and is projected to exhibit a CAGR of 11.2%
over the forecast period (2018 – 2026). The eClinical solutions market is
expected to gain significant traction, due to increasing R&D by
biotechnology and pharmaceutical companies.
Increasing R&D by
biotechnology and pharmaceutical companies is expected to drive growth of the
market Pharmaceutical and medical device companies face a number of challenges
to commercialize existing and developing new products, such as patent expiry,
competitive pricing pressure, and rising regulatory burden imposed due to
increasing clinical trial complexity, development costs, and data volumes. The
risks and costs associated with developing new treatments, mainly related to
drug trials continue to increase. All these factors collectively increase the
demand for eClinical solutions software. eClinical solutions software reduce
drug development costs and improve efficiency by streamlining and automating
the clinical trial process, and optimizing return on investment in new drug
development. Electronic data capture (EDC) and clinical trial management
systems (CTMS) are the most prominent eClinical solutions software. This
software allow individuals to manage increasing data volumes while aiding the
flexibility and speed required to execute emerging trial concepts that offer
more effective commercialization. A CTMS can improve the management of the drug
development process by providing a single, centralized system to manage
operational and administrative activities and a real-time view of trial data
that can be shared across the organization. However, high implementation cost
of software, lack of skilled professional, data privacy issues, and low
awareness about the software are the major factors hampering eClinical
solutions market growth.
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Browse 45 Market Data Tables and
30 Figures spread through 200 Pages and in-depth TOC on “eClinical Solutions
Market, by Deployment (Web-based, Cloud-based, and Licensed Enterprise), by
Product (Electronic Data Capture, Electronic Clinical Outcome Assessment,
Clinical Data Management System, Clinical Trial Management System, Clinical
Analytics Platform, Randomization and Trial Supply Management, Electronic Trial
Master File, and Others), by End User (Pharmaceutical and Biopharmaceutical
companies, Hospitals, Consulting Servicing Companies, Research Organizations,
and Medical device Manufacturers), and by Region (North America, Latin America,
Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026”
Key industry players operating
the eClinical solutions market include BioClinica Inc., CRF Health, DATATRAK
International Inc., eClinical Solutions Inc., MaxisIT Inc., Medidata Solutions
Inc., Merge Healthcare Inc., OmniComm Systems Inc., Oracle Co., and PAREXEL
International Co. Major industry players are adopting strategies such as
product enhancement, partnerships, and agreements for new product development
strategies to sustain and progress in eClinical solutions market. For instance,
in 2018, Medidata and eClinical Solutions LLC expanded their technology
partnership to further enhance clinical trial processes and help life sciences
researchers deliver new therapies to patients with the adoption of Rave Imaging.
Companies such as Veeva Systems, Oracle, and Medidata Solutions are offering
integrated and unified eClinical solution software to improve trial efficiency
and compliance processes across the R&D value chain.
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Report: https://www.coherentmarketinsights.com/market-insight/eclinical-solutions-market-782
Key Takeaways of the eClinical
Solutions Market:
The global eClinical solutions
market is expected to exhibit a CAGR of 11.2% over the forecast period, owing
to growing adoption of software solutions during clinical research and rising
government funding to support clinical trials.
Among deployment types, the
cloud-based segment is estimated to hold the dominant position, as it is ideal
for complex and multisite clinical studies
Among product types, the clinical
data management system (CDMS) is estimated to hold major share due to its high
quality, reliable, and statistically sound data
Among end users, pharmaceutical
and biopharmaceutical companies segment holds a dominant position in the
eClinical solutions market, owing to increasing usage of software for drug
development
Asia Pacific eClinical solutions
market is expected to exhibit significant growth, owing to increasing number of
clinical trials being performed.
Key players operating in the
global eClinical Solutions software market include BioClinica Inc., CRF Health,
DATATRAK International Inc., eClinical Solutions Inc., MaxisIT Inc., Medidata
Solutions Inc., Merge Healthcare Inc., OmniComm Systems Inc., Oracle Co., and
PAREXEL International Co.
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