The global eClinical solutions market was valued at $6,816.17 million in 2021, and is estimated to reach $21,502.95 million by 2031, growing at a CAGR of 12.2% from 2022 to 2031.
eClinical solutions are software, which are used for effective management, and integration of data generated during clinical trials. It offers set of tools to effectively plan, manage, track clinical study portfolio and create insights. The major factors that drive the growth of the eClinical solutions market are decrease in time cycle, reduction in data duplication, and additional efforts taken by team carrying out clinical trial for sorting and integrating the data.
In addition, eClinical solutions accelerates decision making as data is sorted and integrated by the software itself. It is a key trend of the market, which is expected to fuel the growth of the market during the forecast period. These solutions creates the demographic charts, mapping and comprehensive analytics that answer clinical and operational questions with speed and accuracy. Thus by centralizing data issues, errors are identified sooner and decision making process gets accelerated. Furthermore, significant surge in technological advancement is also one leading factors of this market as paper work takes much time, thus, managing enormous data makes individual frustrated. By using advanced technological solutions it becomes easier to manage data for the team carrying out clinical trials. Moreover, emerging markets are becoming a hub for the growth of eClinical solutions utilization owing to rise in the number of clinical trials. There are lot of opportunities for the market players to expand their business across developing economies due to availability of resources at lower rate and less regulatory policies for drug development.
Augmentation of data, government initiatives for making better healthcare services assists the market growth in emerging markets. However, eClinical solutions required high initial capital cost and regular maintenance attempts, which impede the market growth. The eClinical solutions market is segmented on the basis of product, delivery mode, clinical trials, end user, and region. On the basis of product, the market is categorized into electronic data capture (EDC) &clinical data management systems (CDMS), clinical trial management systems (CTMS), randomization & trial supply management (RTMS), electronic clinical outcome assessment (eCOA), electronic trial master file (eTMF), and others.
On the basis of delivery mode, the market is segmented as web-hosted, on-premise, and cloud-based. On the basis of clinical trials, the market is segmented as Phase I, Phase II, Phase III, and Phase IV. On the basis of end users, the market is segmented into pharmaceutical & biopharmaceutical companies, contract research organizations, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and Latin America, the Middle East, and Africa (LAMEA).
The major players profiled in the report are Oracle Corporation, Parexel International Corporation (Calyx), DataTrak International, Inc., Dassault Systèmes (Medidata Solution, Inc.), Clario, Signant Health (CRF Health Inc.), eClinical Solutions, Inc., IBM Watson Health, Advarra, Inc. (Bio-Optronics, Inc.), MaxisIT Inc., Anju Software, Inc. Veeva Systems, Saama Technologies, Inc., Medrio, Inc., Castor EDC, Mednet, and Business Systems Integration AG.
eClinical solutions are software, which are used for effective management, and integration of data generated during clinical trials. It offers set of tools to effectively plan, manage, track clinical study portfolio and create insights. The major factors that drive the growth of the eClinical solutions market are decrease in time cycle, reduction in data duplication, and additional efforts taken by team carrying out clinical trial for sorting and integrating the data.
In addition, eClinical solutions accelerates decision making as data is sorted and integrated by the software itself. It is a key trend of the market, which is expected to fuel the growth of the market during the forecast period. These solutions creates the demographic charts, mapping and comprehensive analytics that answer clinical and operational questions with speed and accuracy. Thus by centralizing data issues, errors are identified sooner and decision making process gets accelerated. Furthermore, significant surge in technological advancement is also one leading factors of this market as paper work takes much time, thus, managing enormous data makes individual frustrated. By using advanced technological solutions it becomes easier to manage data for the team carrying out clinical trials. Moreover, emerging markets are becoming a hub for the growth of eClinical solutions utilization owing to rise in the number of clinical trials. There are lot of opportunities for the market players to expand their business across developing economies due to availability of resources at lower rate and less regulatory policies for drug development.
Augmentation of data, government initiatives for making better healthcare services assists the market growth in emerging markets. However, eClinical solutions required high initial capital cost and regular maintenance attempts, which impede the market growth. The eClinical solutions market is segmented on the basis of product, delivery mode, clinical trials, end user, and region. On the basis of product, the market is categorized into electronic data capture (EDC) &clinical data management systems (CDMS), clinical trial management systems (CTMS), randomization & trial supply management (RTMS), electronic clinical outcome assessment (eCOA), electronic trial master file (eTMF), and others.
On the basis of delivery mode, the market is segmented as web-hosted, on-premise, and cloud-based. On the basis of clinical trials, the market is segmented as Phase I, Phase II, Phase III, and Phase IV. On the basis of end users, the market is segmented into pharmaceutical & biopharmaceutical companies, contract research organizations, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and Latin America, the Middle East, and Africa (LAMEA).
The major players profiled in the report are Oracle Corporation, Parexel International Corporation (Calyx), DataTrak International, Inc., Dassault Systèmes (Medidata Solution, Inc.), Clario, Signant Health (CRF Health Inc.), eClinical Solutions, Inc., IBM Watson Health, Advarra, Inc. (Bio-Optronics, Inc.), MaxisIT Inc., Anju Software, Inc. Veeva Systems, Saama Technologies, Inc., Medrio, Inc., Castor EDC, Mednet, and Business Systems Integration AG.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the eClinical solutions market analysis from 2022 to 2031 to identify the prevailing eClinical solutions market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the eClinical solutions market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global eClinical solutions market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Delivery Mode
- Web-hosted
- On-premise
- Cloud-based
By Clinical Trial Phase
- Phase I
- Phase II
- Phase III
- Phase IV
By Product
- Clinical Trial Management Systems
- Randomization and Trial Supply Management
- Electronic Clinical Outcome Assessment
- Electronic Trail Master Files
- Others
- Electronic Data Capture and Clinical Data Management Systems
By End User
- Pharmaceutical and Biopharmaceutical Companies
- Contract Research Organizations
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Advarra, Inc. (Bio Optronics, Inc.)
- Anju Software, Inc.
- Business Systems Integration AG
- Castor EDC
- Clario
- Dassault Systemes (Medidata Solution, Inc.)
- DataTrak International, Inc.
- eClinical Solutions, Inc.
- IBM Watson Health
- MaxisIT Inc.
- MedNet Solutions
- Medrio, Inc.
- Parexel International Corporation (Calyx)
- Saama Technologies, Inc.
- Signant Health (CRF Health Inc.)
- veeva systems
- Oracle Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ECLINICAL SOLUTIONS MARKET, BY PRODUCT
CHAPTER 5: ECLINICAL SOLUTIONS MARKET, BY DELIVERY MODE
CHAPTER 6: ECLINICAL SOLUTIONS MARKET, BY CLINICAL TRIAL PHASE
CHAPTER 7: ECLINICAL SOLUTIONS MARKET, BY END USER
CHAPTER 8: ECLINICAL SOLUTIONS MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “eClinical Solutions Market," the eClinical solutions market was valued at $6.82 billion in 2021, and is estimated to reach $21.50 billion by 2031, growing at a CAGR of 12.2% from 2022 to 2031.The global eClinical solutions market was valued at $6,816.17 million in 2021, and is estimated to reach $21,502.95 million by 2031, growing at a CAGR of 12.2% from 2022 to 2031.eClinical solutions are software-based solutions used for effective management and integration of data generated during clinical trials. It is commonly used in clinical trials for drug development process in all phases and for medical device developments. In eClinical solutions, software is used for registration of patients, generation of clinical research outcomes, monitoring of adverse effects, and complaint submission. Thus, it narrows drug development procedure by integration of data, which is an upcoming eClinical solutions market trends. Increase in clinical trials, surge in demand for electronic data capture (EDC) & clinical data, management (CDMS), clinical trial management system (CTMS), and randomization & trial supply management (RTMS) majorly drives the market growth. In addition, it is an effective solution for hassel free management of the clinical trials. Moreover, higher adoption rate of eClinical software among clinical research organization, pharmaceutical companies, and contract research organizations flourishes the eClinical solutions market growth.
Furthermore, innovations, development of advanced technologies, key strategies adopted by key players, and increasing awareness for clinical software fuel the market growth. However, high capital cost is expected to hinder the market growth. Conversely, technological advancement and rise in drug and medical devices development increase the number of clinical trials. Thus, creating a great opportunity for key players to invest during the forecast period in eClinical solutions industry, especially in the developing economies.
Depending on product, the electronic data capture (EDC) & clinical data management systems (CDMS) segment dominated the market in 2021, with $1789.1 million owing to the quality of information captured, streamlines data collection procedures, and offers effective data analysis. The electronic clinical outcome assessment segment is expected to witness highest CAGR of 13.4% during the forecast period owing to rise in significance of high-quality clinical data.
Depending on delivery mode, the web-hosted segment dominated the market in 2021, with $2973.24 million owing to these products having a greater level of interoperability. The cloud-based segment is expected to witness highest CAGR of 13.4% during the forecast period owing to flexibility, high accessibility, negligible handling costs, and easy data backup.
Depending on clinical trials, the phase II segment dominated the eClinical solutions market share in 2021, with $2178.6 million owing to increasing number of drugs successfully reaching phase III. The phase I segment is expected to witness highest CAGR of 13.0% during the forecast period owing to high significance of these systems to predict future outcomes and eliminate drug candidates possessing the least probability of success.
Depending on end user, the contract research organization segment dominated the eClinical solutions market size and is expected to witness highest CAGR of 12.6% during the forecast period owing to inclination of pharmaceutical companies to reduce overall expenditure improved clinical trials and streamlined research workload.
Key Findings of the Study
- By type, the electronic data capture (EDC) & clinical data management systems (CDMS) segment was the highest contributor to the market in 2021.
- By delivery mode, the web-hosted segment was the highest contributor to the market in 2021.
- By clinical trial, the Phase II segment was the highest contributor to the market in 2021.
- By end user, the contract research organization segment was highest contributor in 2021, and is expected to continue this trend during the forecast period.
- Region-wise, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Advarra, Inc. (Bio Optronics, Inc.)
- Anju Software, Inc.
- Business Systems Integration AG
- Castor Edc
- Clario
- Dassault Systemes (Medidata Solution, Inc.)
- Datatrak International, Inc.
- Eclinical Solutions, Inc.
- Ibm Watson Health
- Maxisit Inc.
- Mednet Solutions
- Medrio, Inc.
- Parexel International Corporation (Calyx)
- Saama Technologies, Inc.
- Signant Health (Crf Health Inc.)
- Veeva Systems
- Oracle Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 358 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 6816.17 million |
| Forecasted Market Value ( USD | $ 21502.95 million |
| Compound Annual Growth Rate | 12.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
