CHICAGO, July 4, 2019 /PRNewswire/ -- According to the new market research report "eClinical Solutions Market by Product (CDMS, EDC, CTMS, eCOA, Analytics, RTMS, eTMF, Safety), Delivery Mode (On-Demand, On-premise, Cloud-based), Clinical Trial Phases, End User (Pharma/Biopharma Companies, CROs, Hospitals) - Global Forecast to 2022", published by MarketsandMarkets™, the eClinical Solutions Market is expected to grow to USD 7.61 Billion by 2022, at CAGR of 12.4% during the forecast period.
Over the last few years, the eClinical Solutions Market has witnessed significant advancements in terms of safety, cost-effectiveness, accelerated clinical trial processes, increased scalability, and improved quality data. Increasing operational costs and regulatory requirements associated with clinical research studies, government grants to support clinical trials, increasing R&D expenditure by pharma-biotech companies with augmented IT budget for drug development pipeline, and growing customer base for eClinical solutions are some of the major driving factors for the global eClinical Solutions Market.
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Increasing operational costs and regulatory requirements associated with clinical research studies, government grants to support clinical trials, and increasing R&D expenditure by pharma-biotech companies with augmented IT budgets for drug development are some of the major driving factors for the global eClinical Solutions Market.
Based on the type of product, the global eClinical Solutions Market is divided into ten segments, namely, electronic data capture (EDC) and clinical data management systems (CDMS), clinical trial management systems (CTMS), clinical analytics platform, randomization & trial supply management systems (RTMS), clinical data integration platforms, electronic clinical outcome assessment (eCOA), safety solutions, electronic trail master files (eTMF), regulatory information management solutions (RIMS), and others (coding systems, institutional review board (IRB) systems, and core lab integration solutions).
Browse in-depth TOC on "eClinical Solutions Market"
72 – Tables
40 – Figures
163 – Pages
The eClinical Solutions Market has also been segmented on the basis of delivery mode into web-hosted (on-demand), licensed enterprise (on-premise), and cloud-based (SaaS) solutions. Based on the clinical trial phase, the market is divided into four segments phase I, phase II, phase II, and phase IV. On the basis of end users, the global eClinical Solutions Market has been segmented into pharmaceutical and biopharmaceutical companies, contract research organizations, consulting service companies, medical device manufacturers, hospitals, and academic research institutions.
North America and Europe held the largest shares of the global eClinical Solutions Market in 2016. However, Asia-Pacific countries, including China, South Korea, Taiwan, and India are emerging as new revenue-generating destinations for market players. The high-growth opportunities in the Asia-Pacific region is attributed to the rising trend of outsourcing clinical trial studies by large pharma and biopharma companies to the region due to the presence of a large patient population and low operating costs. In addition, developing life science research infrastructure and increasing government investments to develop the pharmaceutical industry are also stimulating the growth of the Asia-Pacific eClinical Solutions Market.
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Partnerships, agreements, and collaborations was the key growth strategy adopted by a majority of the players to increase their share in the market. Companies such as Oracle Corporation (U.S.), Medidata Solutions, Inc. (U.S.), PAREXEL International Corporation (U.S.), BioClinica, Inc. (U.S.), OmniComm Systems, Inc. (U.S.), DATATRAK International Inc. (U.S.), ERT Clinical (U.S.), Merge Healthcare Incorporated (U.S.), CRF Health (U.S.), MaxisIT Inc. (U.S.), Bio-Optronics, Inc. (U.S.), and eClinical Solutions, Inc. (U.S.) adopted this strategy.
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