Our
Clients
: Aug, 2020
: 100
:
eClinical Solutions Market: Description
eClinical is a term that is used within the biopharmaceutical domain. eClinical Solutions manage the clinical technologies and expertise that facilitates the acceleration of the clinical development process. The increase in research and development activities by the biopharma and pharma companies is one of the key trend that escalates the market growth. eClinical solutions are software and applications, used for management of clinical trials and clinical research. The software helps to manage, maintain, record data, and track deadlines. The increase in focus of pharma and biopharma companies on novel drug development for treatment of various chronic disease is the major factor that drives the market growth of eClinical solutions.
Source: WMR
eClinical Solutions Market: Overview
The global eClinical solutions market size was estimated at USD 7,200 million in 2022 and is expected to be valued at USD 21,800 million in 2033 expanding at a compound annual growth rate (CAGR) of 13.6% during the forecast period.
Growing investment in life sciences and clinical research ensures the adoption of eClinical solutions market. This growing investment will raise the demand and boost the market expansion over the forecast period. The growing demand for global clinical trials and the requirement for quality auditing will increase the market value. Also, a rise in government funding grants for clinical trials is one of the major factors that contribute to the eClinical solutions market revenue.
Source: WMR
The funding grant speeds up the development and implementation of various exploratory clinical trials on health-related outcomes. One of the major barriers that hampers the growth of the eClinical Solution Market demand is the high implementation and maintenance cost of eClinical solutions. For instance, the enterprises that affects the software on premise are responsible for the ongoing costs of the power consumption and server hardware. Additionally, the maintenance with upgradation of software as the vendors also continuously develops new enhancements to the software, incur huge costs that hinders the industry growth. Therefore, high cost of implementation and maintenance of such solutions will restrain the market growth of eClinical solutions.
Enormous data mounting from the healthcare industry, a rising number of clinical trials, and government emphasis on clinical research are the major factors that drive the growth of the market. The costs and risks which are associated with developing new therapeutics are majorly related to drug trials that continue to rise. This trend is majorly going to gain momentum with the arrival of personalized medicines and the proliferation of virtual pharma companies that emerges as entities without the traditional large-scale pharma capabilities. In low- and middle-income countries, healthcare infrastructure has faced many challenges in providing high-quality, affordable, and universally-accessible care. In response to this, policy-makers, donors, and program implementers are also searching for innovative approaches in order to eliminate the geographical and financial barriers to healthcare sector. eClinical solutions are expected to fill this gap and help in providing quality healthcare in remote locations. Also, amid the pandemic, healthcare systems are stretched and eClinical solutions are being utilized to provide logistical support in the distribution of essential services.
eClincal Solutions Market: Key Trends
Growing demand for management of large datasets in phase III will increase the uptake of eClinical solutions
Phase III segment in the eClinical solutions market has accounted for USD 3 million during the forecast years. An Increase in demand for randomization solutions to evaluate the new treatment with the existing treatment in the phase will help in the market expansion in the near future. Additionally, phase III clinical trials demonstrate and confirm the preliminary evidence that is gathered in the previous trials where drug is safe, beneficial and offers effective treatment for the intended indication. Therefore, phase III requires large number of participants in order to determine the effectiveness of the drug, which will ultimately create demand for data management solutions, that will help in influencing the growth.
Clinical Data Management Systems is expected to dominate the market
Many pharmaceutical and biotechnology companies are investing significantly in eClinical Solutions market. Numerous organizations are operating in this field that are conducting clinical trials for vaccines and treatments against COVID. Clinical trial activities include, recruitment, retention, delivery of interventions, and data collection that have been conducted using conventional methods, such as, face to face, physical form filings, and others. With the adoption of electronic medical records, a growing amount of data is generated through automated medical equipment and monitoring devices. The clinical analytics platform is projected to play an important role by providing services, such as identifying missed visits and forecasting upcoming future visits that includes those for dosing and have a greater likelihood to be missed, as based on a variety of data sources.
One of the major contributing factors to the eClinical solutions market revenue is the rise in government funding grants for clinical. The funding grant helps in the growth of the developments and implementation of various exploratory clinical trials on health-related outcomes. The average cost of software ranges from USD 600 to USD 6,000 per year. The implementation cost of clinical trial management system (CTMS) costs around USD 1,000 per month. This, high cost of implementation and maintenance of such solutions can restrain the market growth of eClinical solutions.
Impact of COVID-19 on the eClincal Solutions Market
The COVID-19 pandemic has helped to boost the adoption of the market. The companies in the market are investing in better healthcare IT solutions that helps in tackling the pandemic. Various companies are developing analytical-based software in order to manage the impact of COVID-19 on their on-going trials. These analytics provide trial managers with the real-time clinical and operational insights that are needed to proactively manage the impact of COVID-19 on patient safety and data quality. Illuminate COVID-19 Analytics also helped to increase oversight and regulatory compliance. Therefore, COVID-19 pandemic had minimal effects on the industry.
Global eClinical Solutions Market: Segmentation Analysis
On the basis of Product Type
Pacemakers
CDMS/EDC Solutions
CTMS Solutions
eCOA
RTMS Solutions
Safety Solutions
Analytics and Reporting Platforms
Integration Platforms
eTMF
Others
On the basis of Delivery Mode
Web- Hosted (on- demand) Solutions (WHS)
Licensed enterprise (on-premise) solution (LES)
Cloud-based (saas) model
The web-hosted (on-demand) solution due to various advantages associated with WHS solution exceeded USD 3million during the forecast years. These solutions have maintained client data on cloud server instead of in-house servers which is located within the facility. The client can also access the data through web and it only requires computer hardware with an internet connection. Thus, this will increase the demand for such solutions that will upsurge the industry expansion.
Source: WMR
On the basis of clinical trials phase
Phase I
Phase II
Phase III
Phase IV
eClinical Solutions Market: Regional Segmentation
Emerging economies that include North America, Europe, Asia Pacific, Latin America, Middle east and Africa are set to collect most of the growth in eClinical Solutions Market. North America eClinical solutions market size has accounted for strong foothold of major pharma and medical device companies. It holds the largest share revenue of the market. Extensive drug development activities in this region further impels the adoption of eClinical solutions market to manage the data volume.
The growing clinical research activities in U.S. and rapid shift from manual data elucidation to real-time data analysis during clinical studies further accelerates the market revenue. Also, there is an increasing concern regarding the efficient management of large and confidential data volume that can increase the usage of eClinical solutions and boost market demand.
eClincal Solutions Market: Competitive Landscape
The eClinical solutions market is highly competitive and is growing at a fastpace due to great technology adoption and smaller and mid-sized sponsors. The major players include DATATRAK International, Inc., Oracle Corporation, Parexel International Corporation, Dassault Systemes, Bioclinica Inc., CRF Health, ERT Clinical, eClinicalWorks, IBM Watson Health, Anju Life Sciences Software, eClinical Solutions Inc., Medidata Solutions, Inc., Signant Health, MaxisIT Inc., Bio-Optronics, Inc., Merge Healthcare Incorporated, OmniComm Systems, Inc., and Others.
Report Scope
eClinical Solutions Market Forecast Years: 2023-2033
eClinical Solutions Market Historical Years: 2020-2021
eClinical Solutions Market 2022: USD 7.2 Million
eClinical Solutions Market 2033: USD 21.8 Million
eClinical Solutions Market CAGR: 13.6%
Key Segments: Product type; Delivery Mode; Clinical Trial Phase; End Users
Key Regions: North America; Europe; Asia Pacific; Middle east and Africa; Latin America
Key Players: DATATRAK International, Inc., Oracle Corporation, Parexel International Corporation, Dassault Systemes, Bioclinica Inc., CRF Health, ERT Clinical, eClinicalWorks, IBM Watson Health, Anju Life Sciences Software, eClinical Solutions Inc., Medidata Solutions, Inc., Signant Health, MaxisIT Inc., Bio-Optronics, Inc., Merge Healthcare Incorporated, OmniComm Systems, Inc., and Others.
1. Global EClinical Solutions Market Introduction and Market Overview
1.1. Objective of the Market Research Study
1.2. eClinical Solutions Market Definition & Description
1.3. Research Data Parameters & Reporting Timelines
1.3.1. Historical Data Reporting Years 2020 to 2021
1.3.2. Projected Data Reporting Years 2022 to 2033
1.3.3. Reporting Data Parameters Value (US$ Million)
1.4. Global ECLINICAL SOLUTIONS Market Scope and Market Estimation
1.4.1. Global ECLINICAL SOLUTIONS Overall Market Size (US$ Million), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)
1.4.2. Global ECLINICAL SOLUTIONS Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033
1.5. ECLINICAL SOLUTIONS Market Segmentation
1.5.1. Product of Global ECLINICAL SOLUTIONS Market
1.5.2. Delivery Mode of Global ECLINICAL SOLUTIONS Market
1.5.3. Clinical Trials Phase of Global ECLINICAL SOLUTIONS Market
1.5.4. End User of Global ECLINICAL SOLUTIONS Market
1.5.5. Key Regions of Global ECLINICAL SOLUTIONS Market
2. Global ECLINICAL SOLUTIONS Market - Executive Summary
2.1. Global ECLINICAL SOLUTIONS Market Summary & Snapshot
2.2. Global ECLINICAL SOLUTIONS Market, By Product (US$ Million)
2.3. Global ECLINICAL SOLUTIONS Market, By Delivery Mode (US$ Million)
2.4. Global ECLINICAL SOLUTIONS Market, By Clinical Trials Phase (US$ Million)
2.5. Global ECLINICAL SOLUTIONS Market, By End User (US$ Million)
2.6. Global ECLINICAL SOLUTIONS Market, By Geography (US$ Million)
2.7. Global ECLINICAL SOLUTIONS Market Outlook & Future Opportunities
3. Global ECLINICAL SOLUTIONS Market Trends, Outlook, and Factors Analysis
3.1. Global ECLINICAL SOLUTIONS Market Industry Development Trends under COVID-19 Outbreak
3.1.1. Global COVID-19 Status Overview
3.1.2. Influence of COVID-19 Outbreak on Global ECLINICAL SOLUTIONS Market Industry Development
3.1.3. Pre & Post COVID-19 Trends and Scenarios
3.2. Market Dynamics (Growth Impacting Factors & Rationales)
3.2.1. Drivers
3.2.1.1. Growing adoption of novel software solutions in clinical research
3.2.2. Restraints
3.2.2.1. High implementation costs associated with eClinical solutions
3.2.3. Opportunities
3.2.3.1. Increasing clinical research activities in emerging
3.2.4. Impact Analysis of Drivers and Restraints
3.3. Ecosystem/ Value Chain Analysis
3.4. Porters Five Forces Analysis
3.5. SWOT Analysis
3.6. PEST Analysis
3.7. Average Selling Prices and Pricing Trends Analysis of ECLINICAL SOLUTIONS Market
3.8. Technological Roadmap
3.9. Key Investment Pockets of ECLINICAL SOLUTIONS Market
3.9.1. By Product
3.9.2. By Delivery Mode
3.9.3. By Clinical Trials Phase
3.9.4. By End User
3.9.5. By Regions
4. Global ECLINICAL SOLUTIONS Market: Estimates & Historic Trend Analysis (2020 to 2021)
4.1. Global ECLINICAL SOLUTIONS Market, 2020 2021 (US$ Million)
4.2. Global ECLINICAL SOLUTIONS Market, By Product, 2020 to 2021 (US$ Million)
4.3. Global ECLINICAL SOLUTIONS Market, By Delivery Mode, 2020 to 2021 (US$ Million)
4.4. Global ECLINICAL SOLUTIONS Market, By Clinical Trials Phase, 2020 to 2021 (US$ Million)
4.5. Global ECLINICAL SOLUTIONS Market, By End User, 2020 to 2021 (US$ Million)
4.6. Global ECLINICAL SOLUTIONS Market, By Region, 2020 to 2021 (US$ Million)
5. Global ECLINICAL SOLUTIONS Market Estimates & Forecast Trend Analysis, by Product
5.1. Global ECLINICAL SOLUTIONS Market Share (%) Estimates and Forecasts, by Product, 2022 & 2033
5.2. Global ECLINICAL SOLUTIONS Market Size (US$ Million) Estimates and Forecasts, by Product, 2022 to 2033
5.2.1. Pacemakers
5.2.2. CDMS/EDC Solutions
5.2.3. CTMS Solutions
5.2.4. eCOA Solutions
5.2.5. RTMS Solutions
5.2.6. Safety Solutions
5.2.7. Analytics and Reporting Platforms
5.2.8. Integration Platforms
5.2.9. eTMF
5.2.10. Others
6. Global ECLINICAL SOLUTIONS Market Estimates & Forecast Trend Analysis, by Delivery Mode
6.1. Global ECLINICAL SOLUTIONS Market Share (%) Estimates and Forecasts, by Delivery Mode, 2022 & 2033
6.2. Global ECLINICAL SOLUTIONS Market (US$ Million) Estimates and Forecasts, by Delivery Mode, 2022 to 2033
6.2.1. Web-based (on-demand) Model
6.2.2. Licensed enterprise (on-premise) Model
6.2.3. Cloud-based (saas) Model
Global ECLINICAL SOLUTIONS Market Estimates & Forecast Trend Analysis, by Clinical Trials Phase
6.3. Global ECLINICAL SOLUTIONS Market Share (%) Estimates and Forecasts, by Clinical Trials Phase, 2022 & 2033
6.4. Global ECLINICAL SOLUTIONS Market Size (US$ Million) Estimates and Forecasts, by Clinical Trials Phase, 2022 to 2033
6.4.1. Phase I
6.4.2. Phase II
6.4.3. Phase III
6.4.4. Phase IV
7. Global ECLINICAL SOLUTIONS Market Estimates & Forecast Trend Analysis, by End User
7.1. Global ECLINICAL SOLUTIONS Market Share (%) Estimates and Forecasts, by End User, 2022 & 2033
7.2. Global ECLINICAL SOLUTIONS Market (US$ Million) Estimates and Forecasts, by End User, 2022 to 2033
7.2.1. Pharmaceutical and Biopharmaceutical Companies
7.2.2. Contract Research Organizations
7.2.3. Consulting Service Companies
7.2.4. Medical Device Manufacturers
7.2.5. Hospitals
7.2.6. Academic Research Institutions
8. Global ECLINICAL SOLUTIONS Market Analysis and Forecast, by Region
8.1. Global ECLINICAL SOLUTIONS Market Share (%) Estimates and Forecasts, by Region, 2022 & 2033
8.2. Global ECLINICAL SOLUTIONS Market (US$ Million) Estimates and Forecasts, by Region, 2022 to 2033
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Middle East and Africa
8.2.5. Latin America
9. North America ECLINICAL SOLUTIONS Market: Estimates & Forecast Trend Analysis
9.1. North America ECLINICAL SOLUTIONS Market Assessments & Key Findings
9.2. North America ECLINICAL SOLUTIONS Market Share (%) Estimates and Forecasts, 2022 & 2033
9.3. North America ECLINICAL SOLUTIONS Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
9.3.1. By Product
9.3.2. By Delivery Mode
9.3.3. By Clinical Trials Phase
9.3.4. By End User
9.3.5. By Major Country
9.3.5.1. The U.S.
9.3.5.2. Canada
10. Europe ECLINICAL SOLUTIONS Market: Estimates & Forecast Trend Analysis
10.1. Europe ECLINICAL SOLUTIONS Market Assessments & Key Findings
10.2. Europe ECLINICAL SOLUTIONS Market Share (%) Estimates and Forecasts, 2022 & 2033
10.3. Europe ECLINICAL SOLUTIONS Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
10.3.1. By Product
10.3.2. By Delivery Mode
10.3.3. By Clinical Trials Phase
10.3.4. By End User
10.3.5. By Major Country
10.3.5.1. Germany
10.3.5.2. The U.K.
10.3.5.3. France
10.3.5.4. Italy
10.3.5.5. Spain
10.3.5.6. Rest of Europe (includes all other European countries)
11. Asia Pacific ECLINICAL SOLUTIONS Market: Estimates & Forecast Trend Analysis
11.1. Asia Pacific ECLINICAL SOLUTIONS Market Assessments & Key Findings
11.2. Asia Pacific ECLINICAL SOLUTIONS Market Share (%) Estimates and Forecasts, 2022 & 2033
11.3. Asia Pacific ECLINICAL SOLUTIONS Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
11.3.1. By Product
11.3.2. By Delivery Mode
11.3.3. By Clinical Trials Phase
11.3.4. By End User
11.3.5. By Major Country
11.3.5.1. China
11.3.5.2. Japan
11.3.5.3. India
11.3.5.4. ASEAN
11.3.5.5. South Korea
11.3.5.6. Rest of Asia Pacific (includes all other Asia Pacific countries)
12. Middle East & Africa ECLINICAL SOLUTIONS Market: Estimates & Forecast Trend Analysis
12.1. Middle East & Africa ECLINICAL SOLUTIONS Market Assessments & Key Findings
12.2. Middle East & Africa ECLINICAL SOLUTIONS Market Share (%) Estimates and Forecasts, 2022 & 2033
12.3. Middle East & Africa ECLINICAL SOLUTIONS Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
12.3.1. By Product
12.3.2. By Delivery Mode
12.3.3. By Clinical Trials Phase
12.3.4. By End User
12.3.5. By Major Country
12.3.5.1. GCC
12.3.5.2. South Africa
12.3.5.3. Egypt
12.3.5.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)
13. Latin America ECLINICAL SOLUTIONS Market: Estimates & Forecast Trend Analysis
13.1. Latin America Market Assessments & Key Findings
13.2. Latin America ECLINICAL SOLUTIONS Market Share (%) Estimates and Forecasts, 2022 & 2033
13.3. Latin America ECLINICAL SOLUTIONS Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
13.3.1. By Product
13.3.2. By Delivery Mode
13.3.3. By Clinical Trials Phase
13.3.4. By End User
13.3.5. By Major Country
13.3.5.1. Brazil
13.3.5.2. Mexico
13.3.5.3. Rest of Latin America (includes all other Latin America countries)
14. Competitive Landscape
14.1. Market Revenue Share Analysis (%), by Major Players (2021)
14.2. Market Competition Matrix, by Leading Players
14.3. List of Emerging, Prominent and Leading Players
14.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.
15. Company Profiles
15.1. DATATRAK International, Inc
15.1.1. Company Overview & Insights
15.1.2. Financial Performance
15.1.3. Product / Service Portfolio
15.1.4. Geographical Footprint & Share
15.1.5. Strategic Initiatives & Key Developments
*Similar details would be provided for all the players mentioned below
15.2. Oracle Corporation
15.3. Parexel International Corporation
15.4. Dassault Systemes
15.5. Bioclinica Inc
15.6. CRF Health
15.7. ERT Clinical
15.8. eClinicalWorks
15.9. IBM Watson Health
15.10. Anju Life Sciences Software
15.11. eClinical Solutions Inc
15.12. Medidata Solutions, Inc.
15.13. Signant Health
15.14. MaxisIT Inc.
15.15. Bio-Optronics, Inc.
15.16. Merge Healthcare Incorporated
15.17. OmniComm Systems, Inc.
15.18. Others
16. Assumptions and Research Methodology
16.1. Data Mining
16.2. Secondary Research
16.3. Primary Research
16.4. Subject Matter Expert Advice
16.5. Quality Check
16.6. Final Review
16.7. Data Triangulation
16.8. Bottom-Up Approach
16.9. Top Down Approach
16.10. Research Flow
16.11. Key Insights from Industry Experts
16.12. Data Sources
16.13. Assumptions
16.14. Limitations
17. Conclusions and Recommendations
17.1. Key Research Findings and Conclusion
17.2. Key Insights & Recommendations from Analysts