Healthcare

Global eClinical Solutions Market

November 1, 2021
ID: SR/HC-173
Format:Pdf
Pages:220

Global eClinical Solutions Market, By Product (EDC & CDMS, CTMS, eCOA, and RTMS ), By Delivery Mode (Web-hosted, Licensed Enterprise, and Cloud-based/software-as-a-service (SaaS)), Development Phase (Phase I, Phase II, and Phase III), By End-use (Academic Institutes, Medical Device Manufacturers, and Hospitals), and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2027.

Description

The global eClinical solutions market size was valued at USD 7.2 Billion in 2020 and is forecasted to reach USD 15.9 billion with a CAGR of 13.5% during the forecast period, 2021-2027. The growing need for eClinical solutions to manage clinical trial data, high use of technology-enabled software in clinical trials, and increasing R&D expenditure on drug development by pharma-biotech and pharma companies are the primary factors driving the growth of the global eClinical solutions market during the forecast period.

What are eClinical Solutions?

eClinical solutions combine technology, applications, and services that work together to help automate the data collection and improve management of clinical trials to replace manual and paper-driven methods. eClinical solutions have become essential industry tools to manage data requirements, reduce development costs, support faster decisions for potential new products, and boost efficiency during the clinical trial process.

Growth Driver

Increasing R&D expenditure on drug development and high government funding to support clinical trials

The growing adoption of eClinical solutions among pharmaceutical and medical device companies to reduce the number of challenges during commercializing existing and developing new products are the major factors accelerating the growth of the global eClinical solutions market during the forecast period. Furthermore, the continuous increase in the costs and risks associated with developing new therapeutics, mainly related to drug trials, is expected to increase the global demand for eClinical solutions. It is estimated that the pharmaceutical industry has observed that the return on R&D expenditure has declined significantly, which has led to margin pressure across the industry. In addition to this line, eClinical solutions help minimize drug development costs and improve efficiency by automating and streamlining the clinical trial process, optimizing return on investment in new drug development. Thus, resulting in the high adoption of eClinical solutions among pharma-biotech and pharma companies across the globe.

Furthermore, the increasing government grants and funding to support clinical trials, high spending by the key manufacturers to develop innovative eClinical solutions are expected to fuel the global eClinical solutions market in the coming years. The rapid growth in clinical research activities in developing economies and shifting preference from manual data elucidation to real-time data analysis during clinical trials will further fuel the growth of the eClinical solutions market across the globe. Moreover, the high cost of implementation and lack of skilled professionals is anticipated to hinder the growth of the eClinical solutions in emerging economies.

Opportunities

Growing clinical research activities and government support in emerging economies

The growing clinical trials activities in emerging countries, such as Indonesia, Mexico, China, India and Brazil to develop affordable treatments is expected to provide lucrative opportunities in the growth of the global eClinical solutions market in the coming years. Furthermore, the growing government grants to reform public healthcare and provide easy access to medicines to more people will further fuel the growth of the eClinical market during the forecast period. Moreover, it is estimated that around 28% of total clinical trials were conducted in Asia, owing to the rapid growth of pharmaceutical companies in emerging economies such as India and China.

Pre Covid-19 impact on the global eClinical Solutions market

The continuous growth in the clinical research studies to collect information related to the safety and effectiveness of innovative medical devices and drugs for various diseases and conditions, such as infectious disease, cancer, Alzheimer’s, allergies, and neurological disorders, has stimulated the growth of the global eClinical solutions market in the pre-COVID era. Furthermore, the growing need for understanding disease fuels the development of new treatments for patients, resulting in a steadily increasing number of new clinical trials year-over-year for the last two decades.

Covid-19 impact on the global eClinical Solutions market

The outbreak of the COVID-19 pandemic has partially impacted the growth of the global eClinical solutions market in 2020. The government and various health organizations, such as the World Health Organization (WHO) and US Food and Drug Administration (FDA), are highly focused on developing COVID-19 vaccines, which has disrupted many upcoming or ongoing clinical trials on other diseases around the globe. Furthermore, the growing need for sustainable methods for conducting clinical trials for various drugs and COVID-19 vaccines will provide lucrative opportunities in the growth of the global eClinical solutions market in the coming years.

Post Covid-19 impact on the global eClinical Solutions market

The shifting preference of researchers towards innovative eClinical solutions, which are cost-efficient, improved clinical trials efficiency, enhanced site performance, and streamlined research workload, will escalate the growth of the global eClinical solutions market in the coming years. Furthermore, the growing technological advancements such as electronic data capture and Wi-Fi connectivity and increased adoption of innovative software solutions in clinical research are expected to fuel the demand for eClinical solutions across the globe.

Product Segmental Analysis

Based on the Product, the global E-Clinical Solutions market is segmented into Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS), Clinical Trial Management Systems (CTMS), Electronic Clinical Outcome Assessment (eCOA), Randomization and Trial Supply Management Solution (RTMS), Safety Solutions, Analytics and Reporting Platforms, Integration Platforms, and Electronic Trial Master File (eTMF). The Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS) is accounted for the highest share in the global eClinical solutions in 2020 and are expected to continue this trend during the forecast period. An EDC system is composed of web-based software designed to collect clinical trial data in an electronic format. It is a widely used clinical trial technology due to continuous development and enhancement in functionality.

Delivery Mode Segmental Analysis

Based on the Delivery Mode, the global E-Clinical Solutions market is categorized into Web-hosted (On-Demand), Licensed Enterprise (On-premise), and Cloud-based/software-as-a-service (SaaS). The On-premise segment is expected to control the global eClinical solutions in 2020. The On-premise model is the traditional model of software implementation and the most preferred and common mode of delivery. In this model, end-users purchase the software licensing based on their organizational needs and determine how it will be implemented and maintained.

Furthermore, the Web-based eClinical solutions and Cloud/software-as-a-service (SaaS) is expected to grow in 2021-2027 significantly. This growth is attributable to the improved performance and reliability by avoiding long deployment cycles. It also minimizes upfront investment, eliminating the need to incur high infrastructure costs.

End-User Segmental Analysis

Based on the End User, the global E-Clinical Solutions market is segregated into Academic Institutes, Medical Device Manufacturers, Hospitals, CROs, and Pharmaceutical & Biotechnology Companies. The contract research organizations (CROs) account for the highest share, approximately 40%, in the global eClinical solutions market in 2020 and are expected to continue this trend during the forecast period. This growth is attributable to the growing inclination of pharmaceutical companies to reduce overall expenditure.

Region Segmental Analysis

The E-Clinical Solutions market is characterized by North America, Europe, Asia Pacific, South America, and Middle East & Africa. The North American region is expected to control the global eClinical solutions market in 2020 and is expected to continue this break down during the forecast period, 2021-2027. The growing government grants to support clinical trials, continuous product development and new product launches by eClinical solution providers, and growing investment in the R&D for new drug development are further accelerating the growth for eClinical solutions in this region.

Competitor Analysis

Companies include Parexel International Corporation, Oracle Corporation, Datatrak International, Inc., MEDIDATA SOLUTIONS, INC., EClinical Solutions, Inc., Merge Healthcare Incorporated, Signant Health, BioClinica, Inc, IBM Corporation, Resonance Health Co. Ltd., CRF Health., and other prominent players are the main players in the E-Clinical Solutions market.

Key Stakeholders

Market research and consulting firms
Industry associations
Global E-Clinical Solutions manufacturing firm
Local Governments
Regulatory bodies
Suppliers
Retailers

Recent Developments

In April 2021, Signant Health has launched electronic informed consent offerings and enhanced capabilities with the new release of SmartSignals™ eConsent. The updates in the functionality of key products and tiered license options give sponsors more control over obtaining electronic informed consent and re-consent for any study design.
On July 21, 2021 – eClinical Solutions LLC has announced the latest release of the illuminate Clinical Data Cloud™, which offers access to expanded capabilities across the platform, including new visualizations, advanced analytics and increased automation of data review and mapping capabilities.

Scope of the Report

Report Attribute	Details
Market Size Value in 2020	USD 20.82 Billion
The revenue forecast in 2027	USD 9.8 Billion
Growth Rate	CAGR of 13.5% from 2020 to 2027.
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Parexel International Corporation, Oracle Corporation, Datatrak International, Inc., MEDIDATA SOLUTIONS, INC., EClinical Solutions, Inc., Merge Healthcare Incorporated, Signant Health, BioClinica, Inc, IBM Corporation, Resonance Health Co. Ltd., CRF Health., and Other prominent players.

Market Modelling

By Product

Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)
Clinical Trial Management Systems (CTMS)
Electronic Clinical Outcome Assessment (eCOA)
Randomization and Trial Supply Management Solution (RTMS)
Safety Solutions
Analytics and Reporting Platforms
Integration Platforms
Electronic Trial Master File (eTMF)

By Delivery Mode

Web-hosted (On-Demand)
Licensed Enterprise (On-premise)
Cloud-based/software-as-a-service (SaaS)

By Development Phase

Phase I
Phase II
Phase III
Phase IV

By End-User

Academic Institutes
Medical Device Manufactures
Hospitals
CROs
Pharmaceutical & Biotechnology Companies

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What are eClinical Solutions?

What is the growth rate of the eClinical Solutions market?

The global eClinical solutions market size was valued at USD 7.2 Billion in 2020 and is forecasted to reach USD 15.9 billion with a CAGR of 13.5% during the forecast period, 2021-2027.

What are the driving factors for the global eClinical Solutions market?

The growing need for eClinical solutions to manage clinical trial data, high use of technology-enabled software in clinical trials, and increasing R&D expenditure on drug development by pharma-biotech and pharma companies are the primary factors driving the growth of the global eClinical solutions market during the forecast period.

What are the future growth opportunities for the global eClinical Solutions market?

What are the key innovations in eClinical Solutions market?

In April 2021, Signant Health has launched electronic informed consent offerings and enhanced capabilities with the new release of SmartSignals™ eConsent. The updates in the functionality of key products and tiered license options give sponsors more control over obtaining electronic informed consent and re-consent for any study design.

Which region is expected to have the largest share in global eClinical Solutions?

The North American region is expected to dominate the global eClinical solutions market in 2020 and is expected to go ahead with this dominance during the forecast period, 2021-2027. The growing government grants to support clinical trials, continuous product development by eClinical solution providers will support the growth of the North American eClinical solution market.

Who are the major players in the global eClinical Solutions?

Parexel International Corporation, Oracle Corporation, Datatrak International, Inc., MEDIDATA SOLUTIONS, INC., EClinical Solutions, Inc., Merge Healthcare Incorporated, Signant Health, BioClinica, Inc, IBM Corporation, Resonance Health Co. Ltd., CRF Health., and Other prominent players.

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Global eClinical Solutions Market

What are eClinical Solutions?

Growth Driver

Increasing R&D expenditure on drug development and high government funding to support clinical trials

Opportunities

Growing clinical research activities and government support in emerging economies

Pre Covid-19 impact on the global eClinical Solutions market

Covid-19 impact on the global eClinical Solutions market

Post Covid-19 impact on the global eClinical Solutions market

Product Segmental Analysis

Delivery Mode Segmental Analysis

End-User Segmental Analysis

Region Segmental Analysis

Competitor Analysis

Key Stakeholders

Recent Developments

Scope of the Report

Market Modelling

Report Content

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