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eClinical Solutions Market Global Size, 2019 Sales, Growth, Share, Trends, and Industry Region wise Forecast to 2023
Global eClinical Solutions Market: Information by Type (Clinical Data Management System, Randomization and Trial Supply Management, Electronic Clinical Outcome Assessment, Clinical Trial Management System), Delivery Mode, Clinical Trial Phase, End User and Region - Forecast till 2023
The clinical data management system (CDMS) dominated the global eClinical solutions market, by type, and is projected to reach USD 2579 million by 2023 owing to the benefits offered by the product such as centralized end-to-end management of clinical trial activities, real-time status tracking, elimination of reliance on manual processes, and maintenance of multiple databases, which improve the overall efficiency of clinical trials. However, the electronic clinical outcome assessment (eCOA) segment is projected to be the fastest-growing segment during the forecast period.
Americas dominated the market, accounting for the largest share of the market in 2017, and the regional market is expected to register a CAGR of 12.41% during the review period. The European market was the second-largest in 2017. The market is projected to reach USD 4568.70 million by the end of 2023, with the US being the leading market.
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e-Clinical Solution Market - Competitive Analysis
Several companies in the global eClinical solutions market has revealed their intention to take the global market to the next level. This is expected to happen with the increasing strategic moves employed by them. MRFR enlisted these companies to have a better profiling of the market and understand trends that can change the global market in the coming years. These companies are PAREXEL International Corporation, ERT Clinical, CRF Health, BioClinica, Inc., Omnicomm Systems, Inc., DATATRAK International, Inc., Oracle Corporation, Medidata Solutions, Inc., Merge Healthcare Inc, and MaxisIT. Various methods like merger, acquisition, collaboration, partnership, product launch, and others have been included in the global market study.
In August 2019, HCL Technologies and Oracle Health Sciences announced their collaboration for mHealth in clinical trials. This partnership is also expected to improve the eClinical solution market.
The global eClinical solutions market has been segmented on the basis of type, delivery mode, clinical trial phase, and end user.
On the basis of type, the market has been divided into the clinical data management system (CDMS), randomization and trial supply management (RTSM), electronic clinical outcome assessment (eCOA), clinical trial management system (CTMS), electronic trial master files (eTMF), and trial safety & regulatory. The Clinical Data Management System (CDMS) segment held the majority market share in 2017. However, the Electronic Clinical Outcome Assessment (eCOA) segment is anticipated to be the fastest growing, followed by the Clinical Data Management System (CDMS) segment.
On the basis of Delivery Mode, the market has been divided into web-based, cloud-based, and enterprise-based.
Based on Clinical Trial Phase, the market has been segmented into Phase I, Phase II, Phase III, Phase IV. Phase IV segment holds the largest market share in the global eClinical solutions market.
The end user segment is divided into contract research organizations (CROs), pharma/biotech companies, and others. Contract Research Organizations (CROs) is dominating the market due to the rising clinical trials outsourcing to contract research organizations.
eClinical Solution Market – Regional Analysis
North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW) are four regions that have been taken into account for a region-specific study of the global market. This type of study reveals growth pockets that can be taken into account for a better market evaluation in terms of prospects.
The Americas had the lead in 2017 and its dominance is expected to continue in the coming years as well. The region has the U.S., Canada and other prominent countries that have been spending huge amount of money for a better intake of eClinical solutions. Europe’s growth is expected to be next only to that of the Americas. The region has similar features like that of the North America. Increasing expenditure in the research and development sector can also boost the regional market. The APAC market also has substantial market dominance. This regional growth can be attributed to the impact it is receiving from the transforming healthcare sector.
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The reports of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.