eClinical Solutions Industry Overview
The global eClinical solutions market size was estimated at USD 7.2 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.6% from 2022 to 2030.
Increasing research and development activities by biopharma and pharma companies is one of the key trends escalating market growth. Besides this, the growing incorporation of software solutions in clinical trials is also projected to provide a fillip to the market. The COVID-19 pandemic boosts the adoption of the market, as companies in the market were investing in better healthcare IT solutions to help in tackling the pandemic.
Gather more insights about the market drivers, restrains and growth of the Global eClinical Solutions Market
For instance, in April 2020, eClinical Solutions LLC, developed the elluminate COVID-19 analytics, which was based on feedback from the industry and its clients for helping the sponsors manage the impact of COVID-19 on their ongoing clinical trials. The burgeoning trend of outsourcing clinical trials to contract research organizations (CROs) along with a rising number of CROs and life sciences organizations is poised to help the market gain tremendous traction in the coming years. In addition, growing research programs in Asian countries and the development of cost-effective modules are anticipated to stir up the demand for eClinical solutions.
Moreover, the presence of a stringent regulatory structure for clinical trials and a heightened need for safety monitoring is playing a vital role in the growth of the market for eClinical solutions in developed economies such as the U.S.For instance, the U.S. Department of Health and Human Services and the National Institutes of Health are tightening clinical trial registration requirements and promoting clinical data sharing. Surging demand for software solutions for clinical trials by pharma and biopharma companies is one of the primary growth stimulants of the market for eClinical solutions. Apart from this, increasing government grants to substantiate trials and widening the end-user base for eClinical solutions are likely to boost the market for eClinical solutions during the review period.
Browse through Grand View Research's Healthcare IT Industry Related Reports
- Clinical Trials Management System Market- The clinical trials management system market size was valued at USD 1.50 billion in 2021 and is estimated to reach a CAGR of 13.9% from 2022 to 2030. The rapid growth of healthcare IT, preference for decentralized clinical trials, initiatives by key companies, and the increasing number of clinical studies, are anticipated to drive the growth of the market.
- Personalized Medicine Market - The global personalized medicine market size was valued at USD 493.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2021 to 2028. The growth of the market can be primarily attributed to the rising interest in biomarkers identification for therapy, diagnosis, and prognosis for personalized medicine development.
Market Share Insights
January 2021: Parexel International Corporation collaborated with Signify Health for offering new solutions to their customers for enabling access to a more diverse and traditionally underrepresented population for their clinical trials.
December 2020: ERT and Bioclinica announced their merger. The merger is aimed at making ERT and Bioclinica leaders in clinical trial endpoint technology.
Key Companies profiled:
Some prominent players in the global EClinical Solutions market include
- DATATRAK International, Inc
- Oracle
- Parexel International Corporation
- Dassault Systemes
- Bioclinica
- CRF Health
- ERT Clinical
- eClinicalWorks
- IBM Watson Health
- Anju Life Sciences Software
- eClinical Solutions
Order a free sample PDF of the eClinical Solutions Market Intelligence Study, published by Grand View Research.
No comments:
Post a Comment