eClinical Solutions Market Is Expected To Expand At A CAGR of 13.6% From 2022 To 2030

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.

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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.

eClinical Solutions Market to Surpass $13 Billion by 2024

03 October 2018, The global eClinical Solutions Market is anticipated to exceed USD 13 billion by 2024. The major growth driving factors include a rise in the R&D activities by various pharma and biopharma companies, growing application of software solutions in medical trials, rising government funding for promoting clinical research programs, increasing consumer base, and so on. In addition to this, rising outsourcing of medical trials to Contract Research Organization (CROs), growing medical research programs in various Asian countries along with the development of low-cost modules are also projected to boost the market growth.

However, high implementation prices, the lack of skilled labor & awareness about clinical data sciences software are likely to hinder the growth of the market in the near future. The global market is divided into products and regions.

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The products sector includes Electronic Data Capture (EDC), Electronic Clinical Outcome Assessment (ECOA), Clinical Data Management Systems (CDMS), Randomization and Trial Supply Management (RTSM), Safety Solutions, Clinical Data Integration Platforms, Clinical Trial Management Systems (CTMS), and Electronic Trial Master File (e-TMF). The ECOA sector is projected to experience the maximum growth rate over the forecast period (from 2016 to 2024), while the CDMS and EDC sectors are anticipated to dominate the market through the year 2016.

Regionally, the global eClinical solutions market is segregated as Latin America, North America, Asia-Pacific, Europe, and the Middle East & Africa. As of 2016, the North American market is expected to dominate the global market occupying the largest industry share. The major factor for this growth is the growing number of ongoing medical trials in the region. Some other factors include the rising government support for clinical trials, extensive Research & Development activities resulting in the production and launch of innovative products, and the increasing occurrences of lifestyle diseases. The APAC region is also likely to witness a rapid growth over the next few years. The rising participation of developing countries in the clinical trials is said to augment the market growth during the estimated years.

The key companies operating in the global eClinical solutions market are Parexel International Corp.; ERT inc.; Oracle Corp.; BioClinica; DataTrak International Inc.; Medidata Solution Inc.; Merge Health Inc.; CRF Health Inc.; OmniComm Systems Inc.; and eClinical Solutions LLC.

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