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EClinical Solutions Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast By - 2033

  • PUBLISHED ON
  • 2023-06-02
  • NO OF PAGES
  • 281
  • CATEGORY
  • Healthcare & Life Sciences
Market Overview

EClinical Solutions Market size was valued at USD 9,000 million in 2022 and is projected to reach USD 18,000 million by 2033, growing at a CAGR of 13.5% during the forecast period.

Report Scope

Report Attributes

Description

Market Forecast in 2022

USD 9,000 million

Market Forecast in 2033

USD 18,000 million

CAGR % 2023-2033

13.5%

Base Year

2022

Historic Data

2020-2021

Forecast Period

2023-2033

Report USP

Product, end-user industry, company share, company heat map, company Capacity Technology Product capacity, growth factors and more

Key Companies

Oracle Corporation; Medidata Solutions, Inc. (a Dassault Systèmes company); BioClinica (a Subsidiary of ERT); Parexel International Corporation (a subsidiary of Pamplona Capital Management); IBM Watson Health; eClinicalWorks; Veeva Systems Inc.; MedNet Solutions, Inc.; Medrio Inc.; Bioclinica, Inc.; DATATRAK International, Inc.; Bio-Optronics, Inc.; ArisGlobal LLC; CRF Health (a Signant Health company); Medable Inc.; OpenClinica LLC; Forte Research Systems, Inc.; OmniComm Systems, Inc.; Clincase AG



EClinical Solutions Market- Description

 The eClinical solutions are software applications and platforms used in the healthcare industry to streamline and manage clinical trial processes. These solutions incorporate various technologies, such as electronic data capture (EDC), electronic patient-reported outcomes (ePRO), clinical data management systems (CDMS), and clinical trial management systems (CTMS), among others.

They aim to improve the efficiency, accuracy, and compliance of clinical trial operations. In the past, clinical trials heavily relied on paper-based systems, which were time-consuming, prone to errors, and difficult to manage. However, with the advent of eClinical solutions, the industry has experienced a significant transformation. These solutions have revolutionized the way clinical trials are conducted, providing numerous advantages to both researchers and participants.

One of the key advantages of eClinical solutions is the enhanced data management capabilities. Traditional paper-based systems often led to errors in data entry, data loss, and difficulties in data retrieval and analysis. With eClinical solutions, data can be entered electronically, ensuring accuracy and reducing the risk of human error.

Furthermore, these solutions offer real-time data monitoring, allowing researchers to promptly identify any issues or trends and make informed decisions. Another advantage of eClinical solutions is their ability to streamline the clinical trial process. They automate and integrate various tasks and workflows, eliminating the need for manual, time-consuming processes.

For example, eClinical solutions can automate the collection of patient data, manage trial supplies and inventory, and facilitate communication among researchers, sponsors, and participants. This streamlining improves operational efficiency, reduces costs, and accelerates the overall timeline of clinical trials.

Furthermore, eClinical solutions offer enhanced accessibility and collaboration. Researchers and participants can access and share data securely through web-based portals, irrespective of their geographic location.

This facilitates remote monitoring, enables real-time collaboration, and enhances communication between different stakeholders involved in the clinical trial process. Such accessibility and collaboration lead to increased efficiency and effectiveness in conducting clinical trials.

EClinical Solutions market: Key Trends

• Increasing adoption of electronic data capture (EDC)

EDC systems are being widely adopted in clinical trials to capture, manage, and analyze clinical trial data electronically. This trend is driven by the need for efficient data collection, improved data quality, and faster data analysis.

Cloud computing is gaining popularity in the eClinical solutions market. Cloud-based solutions offer benefits such as scalability, flexibility, and cost-effectiveness. They also facilitate real-time collaboration and data sharing among stakeholders involved in clinical trials.

• Integration of multiple eClinical solutions

Many organizations are opting for integrated eClinical platforms that combine multiple solutions such as EDC, clinical trial management systems (CTMS), randomization and trial supply management (RTSM), electronic patient-reported outcomes (ePRO), and clinical data management systems (CDMS).

This integration streamlines workflows, enhances data integrity, and improves overall trial efficiency. Mobile devices and wearable sensors are being increasingly used in clinical trials to collect real-time patient data. Mobile apps and wearable devices enable remote patient monitoring, enhance patient engagement, and provide researchers with continuous, objective data for analysis.

AI and ML technologies are being leveraged in eClinical solutions to automate processes, analyze complex data sets, identify patterns, and make predictions. These technologies can enhance data analysis, accelerate study timelines, and improve decision-making in clinical trials.

EClinical Solutions market: Segmental Analysis

Product

• Electronic Data Capture and Clinical Data Management Systems
• Clinical Trial Management Systems
• Randomization and Trial Supply Management
• Electronic Clinical Outcome Assessment
• Electronic Trail Master Files
• Others

Delivery Mode
• Web-hosted
• On-premise
• Cloud-based

End User
• Pharmaceutical and Biopharmaceutical Companies
• Contract Research Organizations
• Others

EClinical Solutions market: Geographical landscape

North America is one of the leading regions in the eClinical solutions market, primarily driven by the presence of advanced healthcare infrastructure, a high adoption rate of technology, and a well-established regulatory framework.

The United States, in particular, has a mature eClinical solutions market due to the presence of key market players and significant investments in research and development. The increasing demand for efficient clinical trial management systems and electronic data capture (EDC) solutions has fueled the growth of the eClinical solutions market in North America.

Europe is another prominent region in the eClinical solutions market, driven by factors such as increasing clinical trials, government initiatives supporting clinical research, and the presence of well-established pharmaceutical and biotechnology companies.

Countries like Germany, the United Kingdom, and France are the major contributors to the eClinical solutions market in Europe. The adoption of cloud-based eClinical solutions, eClinical trial management systems, and electronic data capture systems is increasing in the region.

The Asia Pacific region is witnessing rapid growth in the eClinical solutions market due to factors such as a large patient population, increasing clinical trials, and rising investments in healthcare infrastructure. Emerging economies like China and India are significant contributors to the growth of the market in this region.

These countries have seen a surge in clinical research activities and an increased focus on digitalization of healthcare processes. The presence of a large number of contract research organizations (CROs) in the Asia Pacific region also drives the demand for eClinical solutions.

Latin America is experiencing steady growth in the eClinical solutions market, driven by the increasing number of clinical trials, improving healthcare infrastructure, and rising adoption of electronic data capture systems. Countries like Brazil and Mexico are the key markets in this region, with a growing focus on improving healthcare outcomes and enhancing the efficiency of clinical research processes.

EClinical Solutions Market- Recent Developments

• In 2019, Oracle Health Sciences, a leading provider of eClinical technology, and Phlexglobal, a pioneering company in Trial Master File (TMF) technology and services for the global life sciences industry, have announced enhanced integrations aimed at expediting regulatory compliance and inspection readiness in clinical trials.

Meeting the requirements of a TMF is essential for sponsors and contract research organizations (CROs) to ensure the protection of trial subjects' rights, safety, and well-being. It also guarantees that clinical trials adhere to Good Clinical Practice (GCP) principles and that the credibility of the trial data is maintained for audit purposes.

Phlexglobal's PhlexEview TMF management system utilizes automation to streamline processes, features an open architecture for seamless data integration, and offers advanced functionality specifically designed to improve TMF management.

EClinical Solutions Market: Key Companies

• Oracle Corporation
• Medidata Solutions, Inc. (a Dassault Systèmes company)
• BioClinica (a Subsidiary of ERT)
• Parexel International Corporation (a subsidiary of Pamplona Capital Management)
• IBM Watson Health
• eClinicalWorks
• Veeva Systems Inc.
• MedNet Solutions, Inc.
• Medrio Inc.
• Bioclinica, Inc.
• DATATRAK International, Inc.
• Bio-Optronics, Inc.
• ArisGlobal LLC
• CRF Health (a Signant Health company)
• Medable Inc.
• OpenClinica LLC
• Forte Research Systems, Inc.
• OmniComm Systems, Inc.
• Clincase AG
• Others

EClinical Solutions Market: Regional Scope

North America
• U.S.
• Canada
• Mexico

Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe

Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific

South America
• Brazil
• Argentina
• Rest of South America

Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa


Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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  • Assign a senior SR executive as QA Executive
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  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


Frequently Asked Questions

What is the market size and growth projections?

The global EClinical Solutions market size was valued at USD 9,000 million in 2022 and is projected to reach USD 18,000 million by 2033, growing at a CAGR of 13.5% during the forecast period.

What are the drivers shaping various markets?

Increasing adoption of electronic data capture (EDC): - EDC systems are being widely adopted in clinical trials to capture, manage, and analyze clinical trial data electronically. This trend is driven by the need for efficient data collection, improved data quality, and faster data analysis. Cloud computing is gaining popularity in the eClinical solutions market. Cloud-based solutions offer benefits such as scalability, flexibility, and cost-effectiveness.

Who are the key competitors of market Players?

Some of the major players operating within the market are Oracle Corporation; Medidata Solutions, Inc. (a Dassault Systèmes company); BioClinica (a Subsidiary of ERT); Parexel International Corporation (a subsidiary of Pamplona Capital Management); IBM Watson Health; eClinicalWorks; Veeva Systems Inc.; MedNet Solutions, Inc.; Medrio Inc.; Bioclinica, Inc.; DATATRAK International, Inc.; Bio-Optronics, Inc.; ArisGlobal LLC; CRF Health (a Signant Health company); Medable Inc.; OpenClinica LLC; Forte Research Systems, Inc.; OmniComm Systems, Inc.; Clincase AG

What are the top performing segments, and countries / regions of each of the markets?

Europe is another prominent region in the eClinical solutions market, driven by factors such as increasing clinical trials, government initiatives supporting clinical research, and the presence of well-established pharmaceutical and biotechnology companies. Countries like Germany, the United Kingdom, and France are the major contributors to the eClinical solutions market in Europe.

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