The Global eClinical solutions Market size is expected to reach $20.1 billion by 2028, rising at a market growth of 13.6% CAGR during the forecast period.
With professional data services as well as the elluminate Clinical Data Cloud, eClinical Solutions assists life sciences enterprises all over the world in accelerating clinical development projects. The elluminate platform and digital data services provide clients with self-service access to all of their data from a single, central location, as well as comprehensive analytics that aid in the faster and more informed decision-making process for businesses.
For the effective administration of data for clinical trials, a variety of eClinical solutions are employed, that includes electronic data capture & clinical data management systems, randomization and trial supply management, clinical trial management systems, and others. It aids in the efficient integration and management of data produced during clinical studies.
It provides a suite of tools to efficiently organize, manage, track, and create insights for clinical research portfolios. It integrates contact management sites and teams, a calendar and monitoring system, and document management. As a result, it creates approved clinical research outcomes as well as compliant submissions; stores and regulates data entry; authenticates the reliability and integrity of the data, and makes it possible to improve the patient experiences by accelerating drug development.
The market for eClinical solutions is expected to benefit from the COVID-19 pandemic. To expand hospital capacity for patients diagnosed with COVID-19, a significant number of clinics and hospitals around the world underwent restructuring. A potential backlog in non-essential procedures developed as a result of the sharp increase in COVID-19 cases. The lockdown caused delays in the production and delivery of critical medical supplies.
Customized or gene-based disease management is becoming more popular in the field of medical research and innovative drug treatments. In comparison to presently available alternative therapies or medications, government reimbursement organizations, commercial insurers, and payers frequently demand novel drugs that have a better therapeutic value and greater efficacy. Additionally, by controlling the standard pricing of innovative pharmaceuticals, these payers are reducing manufacturing businesses' profit margins. The eClinical solutions market is concentrating on the development and marketing of software solutions that help speed up and efficiently complete clinical studies.
Due to the growing amount of data produced throughout clinical development processes, there is an increased need for recording and analyzing clinical data, which has led to a growth in the use of eClinical solutions in clinical trials. Furthermore, eClinical technologies improve site performance, clinical trial efficiency, and cost optimization by removing redundant data entry. Also, it is noted that the rapid uptake of eClinical solutions, such as RTSM, combined with effective trial drug supply management, would motivate key companies to increase their investment for product innovations.
In order to efficiently manage the clinical research data and information throughout the research lifecycle, researchers might use eClinical solutions. Many integrated eClinical solutions (like CTMS and CDMS) offer clinical researchers end-to-end solutions for all phases of clinical trial administration. These software solutions are, quite costly and charged at a premium rate. With additional costs for technical support cloud-based systems, the installation, and maintenance of eClinical solutions.
Based on delivery mode, the eClinical solution market is segmented into web-based (on-demand) model, licensed enterprise (on-premise) model, and cloud-based (SaaS) model. The cloud-based (SaaS) segment acquired a substantial revenue share in the eClinical solution market in 2021. This is due to integrated features including flexibility, high accessibility, minimal handling costs, and simple data backup. These systems make real-time data available, allowing users to act quickly and give high-quality data for risk-based monitoring.
On the basis of the clinical trial phase, the eClinical solution market is fragmented into phase I, phase II, phase III, and phase IV. In 2021, the phase III segment led the eClinical solutions market with the highest revenue share. The segment is expanding as a result of the increasing need for clinical data management software to reduce overall costs and boost process effectiveness. The expansion of the market is being significantly accelerated by the rising number of medications that successfully complete phase III.
By product, the eClinical solution market is categorized into CDMS/EDC Solutions, CTMS Solutions, analytics & reporting platforms, safety solutions, integration platforms, RTMS solutions, eCOA solutions and others. The CTMS solutions segment generated a significant revenue share in the eClinical solutions market in 2021. In order to manage clinical trials for clinical research, the biotechnology & pharmaceutical industries use a clinical trial management system (CTMS). These are employed in clinical research to manage clinical trials. This CTMS will support clinical research carried out within or among the three institutions as a single, centralized, web-based enterprise resource. Due to these benefits, the demand for CTMS would increase.
Based on the end user, the eClinical solution market is classified into pharmaceutical & biopharmaceutical companies, contract research organizations, academic research institutions, hospitals, medical device manufacturers, and others. The pharmaceutical & biopharmaceutical companies held the highest revenue share in the eClinical solution market in 2021. Companies in the biotechnology and pharmaceutical industries can locate clinical trial-related administrative obstacles by using such software solutions. Researchers at pharmaceutical and biotechnology companies are subsequently driving the demand for eClinical solutions for clinical research programs.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 8.2 Billion |
| Market size forecast in 2028 | USD 20.1 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 13.6% from 2022 to 2028 |
| Number of Pages | 318 |
| Number of Tables | 530 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Delivery Mode, Clinical Trials Phase, End User, Product, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
|
| Restraints |
|
Region wise, the eClinical solution market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2021, the North America region witnessed the largest revenue share in the eClinical solutions market. The regional growth is the result of its established business infrastructure, cutting-edge technology, and accessibility of key players. The demand for eClinical solutions in this region is rising as a result of increased government regulations to support clinical trials, ongoing product improvements and new product launches by major players in the eClinical solution market, and a rise in the number of collaborations for innovative drug development.
Free Valuable Insights: Global eClinical solutions Market size to reach USD 20.1 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, Anju Software, Inc., eClinical Solutions LLC, Castor EDC, Signant Health, Dassault Systemes SE, Parexel International Corporation (Phoenix Parentco, Inc.), Clario, BSI Life Sciences (Business Systems Integration AG) and MedNet Solutions
By Delivery Mode
By Product
By Clinical Trials Phase
By End User
By Geography
The eClinical solutions Market size is projected to reach USD 20.1 billion by 2028.
Operational Expenditures and Regulatory Needs are rising which is driving the market in coming years, however, High Cost of Implementation restraints the growth of the market.
Oracle Corporation, Anju Software, Inc., eClinical Solutions LLC, Castor EDC, Signant Health, Dassault Systemes SE, Parexel International Corporation (Phoenix Parentco, Inc.), Clario, BSI Life Sciences (Business Systems Integration AG) and MedNet Solutions.
The CDMS/EDC Solutions market is leading the Global eClinical Solutions Market by Product in 2021, thereby, achieving a market value of $6.9 billion by 2028.
The Web-based (on-demand) Model market acquired the maximum revenue share in the Global eClinical Solutions Market by Delivery Mode in 2021, thereby, achieving a market value of $10.7 billion by 2028.
The Asia Pacific market dominated the Global eClinical Solutions Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5.0 billion by 2028.
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 