Rising government funding for clinical trials, increased application of software solutions in clinical trials and clinical research, the growing customer base for e-Clinical solutions, are key factors contributing to the high CAGR of eClinical Solutions during the forecast period.
New York City, United States – June 22, 2020 /MarketersMedia/ —
According to the current analysis of Reports and Data, the global eClinical Solutions market was valued at USD 4,267.6 Million in 2018 and is expected to reach USD 12,329.2 Million by the year 2026, at a CAGR of 13.9% from 2019-2026. Clinical trials are the most time-consuming phase of drug development. The increasing demand for clinical trials by pharmaceutical giants and biotech companies propels the eClinical Solutions market growth. eClinical Solutions provide administrations to an enormous client base at a low working expense.
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Key players mentioned in the research report are:
Oracle Corporation, Medidata Solutions, PAREXEL International Corporation, BioClinica, CRF Health, DATATRAK International, ERT, eClinical Solutions
In terms of End Use, the global eClinical Solutions market can be segmented into:
Contract Research Organizations (CROs)
Pharmaceuticals & Biotech Organizations
Medical Device Manufacturers
In terms of types, the global eClinical Solutions market can be segmented into:
Electronic Clinical Outcome Assessment (ECOA)
Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)
Clinical Analytics Platforms
Clinical Data Integration Platforms
Clinical Trial Management Systems (CTMS)
The eClinical Solutions Market is analyzed on the basis of dynamics of demand and supply, pricing, total volume produced, revenue generated, and others. The manufacturing is studied on the basis of several factors such as manufacturing plant distribution, industry production, production capacity, and research and development. It also delivers accurate market evaluations with the use of SWOT analysis, investment analysis, returns analysis, and growth trend analysis, and others.
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For geographical segmentation, regional supply, application-wise, and type-wise demand, key players, and others, this report covers the following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report sheds light on the competitive landscape of the market that covers the product offerings, services, market shares, and business overview. This eClinical Solutions Market research report covers various dynamic aspects like the market drivers, restraints and challenges, and growth prospects. The prominent and leading companies are profiled in the report.
Further key findings from the report suggest
• CDMS led the product segment in 2018 with 27% eClinical solutions market share owing to various benefits provided by the product such as end-to-end management of various databases, clinical trial activities and real-time status tracking, which in total improves the general effectiveness of clinical trials.
• eClinical Solution system, especially, the Cloud-based delivery system is expected to grow at the CAGR of 14.8% owing to ease of integration and rapid deployment.
• Increasing clinical research in developing countries such as India, Bangladesh is expected to support the growth of eClinical Solutions market during the forecast years.
• Increasing Research and development by pharmaceuticals and biotechnology companies, resulting in the launch of new products are some of the factors that support the eClinical solutions market growth during forecast years. For Instance, in 2018, Oracle a new holistic, unified cloud-based eClinical solution, Clinical One Platform with the intention of launching new drugs in the market with a focus on quality and safety.
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