The latest report by IMARC Group, titled “eClinical Solutions Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global eClinical solutions market exhibited strong growth during 2015-2020. eClinical solutions refer to the combination of clinical technology and expertise that facilitates the acceleration of the clinical development process. The system uses data management and data scrutiny programs to automate and conduct clinical trials and record real-time data throughout the process. These solutions help researchers in end-to-end clinical research procedures while providing solutions through appropriate management of lengthy clinical research processes. It functions along with web-based applications that are installed on-premises or deployed through cloud-based platforms.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global eClinical Solutions Market Trends:
The market is primarily driven by the growth in the biopharmaceutical industry and increasing research and development (R&D) activities undertaken by biopharmaceutical industries. These organizations utilize eClinical solutions to seek regulatory approvals for newly developed medicines and drugs. As a result, governments of various countries are also offering grants to substantiate trials and widen the end user base for the market. Along with this, the presence of a stringent regulatory structure for trials and the need for safety monitoring is encouraging the adoption of these solutions worldwide. Moreover, there has been rapid adoption of eClinical solutions owing to the growing integration of the Internet of Things (IoT) with medical devices. In addition, the rising trend of outsourcing clinical trials to contract research organizations (CROs), the increasing number of CROs and life science organizations and the development of cost-effective modules are some of the other factors fueling the market growth. Looking forward, the market is expected to grow at a CAGR of around 12% during the forecast period (2021-2026).
- Based on the product, the market has been segmented into eCOD, EDC and CDMS, clinical data integration platforms, safety solutions, CTMS, RTSM, eTMF, and clinical analytics platforms.
- On the basis of the delivery mode, the market has been classified into web-hosted (on-demand), licensed enterprise (on-premises), and cloud-based.
- The market has been categorized based on the development phase into phase I, II, III, and IV.
- On the basis of the end use, the market has been segregated into hospitals, contract research organizations, academic institutes, pharma and biotech organizations, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Anju Software Inc., BioClinica Inc. (Merged with ERT Clinical), Bio-Optronics Inc. (Advarra Inc.), DATATRAK International Inc., eClinical Solutions LLC, eClinicalWorks, International Business Machines Corporation, Medidata Solutions Inc. (Dassault Systèmes), Oracle Corporation, PAREXEL International Corporation, and Signant Health.
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