The global eClinical market size was worth USD 5.6 Billion in 2019 and is expected to grow with a CAGR of 13.2% from 2020 to 2025.
eClinical in clinical research is a word used to refer to electronic applications; they are used to remove manual, ad hoc, or paper-driven methods. eClinical technologies are a combination of technology, products, and services that work together as solutions to simplify the management or conduct of clinical trials. There are various types of eClinical technologies, such as Clinical Data Management Systems (CDMS), CTMS (Clinical Trials Management System), Randomization and Trial Supply Management Systems, e-PRO (Electronic Patient-Reported Outcome System), Electronic Trial Master File (eTMF), and other common forms of electronic solutions typically used in clinical trials.
The amount of clinical trial data is expanding rapidly as clinical trials continue to grow in complexity and global reach. It is important to handle these data requirements. Implementing eClincal technology in a study helps us in several ways, such as real-time data access, clean data at any given point of time, an immediate resolution to queries, locking patient data when clean. It is also possible to substantially reduce the Last Patient Last Visit - Database Lock timelines (i.e.) from normal 8 to 10 weeks for paper studies to three to four weeks for an EDC.
MARKET DRIVERS:
The growing demand by pharma and biopharmaceutical companies for software solutions for clinical trials, the expansion of research and development, the growth in government funding to fund clinical trials, and the increase in the number of e-clinical solution customers are expected to fuel the growth of the global eClinical solutions market during the forecast period.
Moreover, factors such as the presence of a large population, increasing customer base, low operating costs, and transfer of resources are further adding a significant boost to the growth rate of the market. The growth of the CRO companies is expected to favor the eClinical solutions market, especially in the Asia Pacific countries. Because of the presence of a large population and low service prices, emerging markets, including Korea, China, Taiwan, and India, have become pleasing destinations for outsourcing clinical trials. With the growing number of CROs and life sciences organizations, the increasing trend of outsourcing clinical trials to contract research organizations (CROs) is poised to help the industry gain considerable momentum in the coming years is expected to drive the eClinical solutions market.
MARKET RESTRAINTS
Various factors such as increased competition, high drug development costs, and more restrictive regulatory environment, etc., affect clinical trials. As a consequence, pharmaceutical businesses are faced with the tremendous challenge of performing clinical trials. However, factors such as the high cost of implementation, the lack of knowledge of the research community's clinical data science software, and the shortage of trained research professionals are expected to impede market development. These are the restricting factors for the eClinical solutions market.
The COVID-19 pandemic created an inflection point for the eClinical solutions market. Most pharmaceutical and biotechnology companies have based their R&D activities on helping to improve the COVID-19 vaccine. In the battle against COVID-19, several businesses have invested a significant number of resources in the use of analytics. Historically, clinical trial tasks used to be carried out by traditional approaches such as 'face-to-face', physical form filings, and so on, including recruitment, retention, implementation of treatments, and data collection.
Dramatic improvement has been observed in the covid-19 pandemic in terms of clinical trials being carried out with the implementation of e-technologies. Researchers are now using electronic methods for various clinical trial tasks, such as designing protocols, engaging with research workers, randomizing participants, collecting data, and reviewing outcomes, among others. The pandemic of COVID-19 is predicted to have a major impact on the region's production of eClinical Solutions. As a result of its high population and better control of the COVID-19 pandemic, the benefits of investing in eClinical solutions have been earned by countries across the region.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2019 to 2025 |
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Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Segments Covered |
By Product, Delivery Mode, Development Phase, End-User, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the global eClinical solutions market has been segmented and sub-segmented based on the product, delivery mode, development phase, end-user, and region.
eClinical Solutions Market – By Product:
Based on the product type, the Electronic Clinical Outcome Assessment (eCOA) segment is expected to grow faster during the forecast period. This sub-segment helps maintain quality and is now being incorporated with patient-reported, clinician-reported, and observer-reported outcomes. This method also helps in effective data analysis and thus is boosting the growth of the market. The increase in the number of patients suffering from various diseases is a major driving factor for this market. The need to integrate patient care with clinical research studies is the need for today’s healthcare system and will boost this segment.
The Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS) had the largest market share in 2019 and is expected to grow at a reasonable rate during the forecast period. The rise in the prevalence of diseases and the increasing geriatric population, and improving healthcare service standards will improve the segment growth.
eClinical Solutions Market – By Delivery Mode:
Based on the delivery mode, the web-hosted sub-segment had the largest revenue share in 2019. The main factor contributing to this sub-segment is easy accessibility, usability, and lower investments required for the service. The facility to customize the reports based on different groups is another feature with a positive impact.
The cloud-based sub-segment is expected to grow with the highest CAGR during the forecast period. The main reason responsible for the growth is flexibility and increased accessibility, along with negligible additional costs. The development of internet technology will drive the growth of the market. They also provide high-quality information for risk-based monitoring and thus are very helpful.
eClinical Solutions Market – By Development Phase:
Based on the development phase, the Phase III segment dominated the market in 2019 in terms of revenue and is expected to retain its position during the forecast period. Reducing costs and improving process efficiency are the major factors driving the growth of this sub-segment. Phase III involves studying the efficacy of a drug by using more than 1,000 patients, which increases the complexity of the process and thus increases the demand for ECloud Solutions.
Phase I is expected to grow at the fastest rate in the future. The main reason is the system's ability to predict the future of potential, along with eliminating the drugs with low success, is the primary factor. A large number of trials, along with the need to manage and monitor the data, will increase the revenue of these sub-segments.
eClinical Solutions Market – By End-User:
Based on the end-user, the CROs segment had the largest market share in 2019 and is expected to grow fastest during the forecast period. The growing interest of pharma companies to reduce the cost is a major responsible factor. The rising usage of eClinical solutions is further supporting the segment growth. Increased efficiency of services and enhanced productivity will positively impact the market.
Pharmaceutical and biotechnology companies are expected to grow at a reasonable rate. The companies use Eclinical solutions during clinical trials. The increasing demand for drugs due to the growing population will increase clinical trials and positively impact the global market.
eClinical Solutions Market – By Region:
Geographically, it has been estimated that the North American market dominates the global eClinical solutions market, followed by Europe. The rising number of clinical trials being carried out in the area is one of the main factors attributable to the growth of the North American market. Intensive R&D activities resulting in the production and launch of new drugs, growing government grants for clinical trials, and the increasing prevalence of clinical trials are some other factors affecting the growth of the industry, diseases, of lifestyles. Furthermore, increased healthcare facilities supported by increased investments from government and private companies will grow the market. The rise in population and the development of technology will help in expanding the market.
The European market had the second largest market share due to the increasing geriatric population with the prevalence of diseases. Rising government initiatives and high standards of healthcare have positively impacted the market growth.
The Asia Pacific market is expected to see rapid growth in the global market in terms of growth rate. These factors rising involvement of emerging economies in clinical trials is expected to drive market growth. The increase in population in India and China had increased the demand for more drugs to treat more people, and it has led to a more significant number of trials and thus improving the growth of the market.
KEY MARKET PARTICIPANTS AND SHARE INSIGHTS:
Key companies dominating the global eClinical Solutions Market profiled in this report are Oracle Corporation, Medidata Solutions, Inc., Parexel International Corporation, Bioclinica, Inc., Datatrak International, Inc., CRF Health, ERT Clinical, Merge Healthcare Incorporated, Omnicomm Systems, Inc., Maxisit Inc., Bio-Optronics, Inc., and Eclinical Solutions, LLC.
To attain a competitive edge in the industry, the major players are actively involved in organic and inorganic growth strategies. Etc.
On September 25, 2020, EClinical Solutions revealed the stimulated acquisition of its flagship Elluminate Clinical Data Platform and its latest launch of Ascend Clinical Data Services.
On December 26, 2019, Sofpromed offered TrialMaster, advanced clinical data management services with electronic data capture (EDC) system. Pharma and biotech companies are organizing phase I-IV clinical trials on oncology in assisting clinical data management services.
On August 08, 2019, TrialMax, an eClinical outcome assessment (eCOA) used for trial promoted by a U.S. biotech company, partnered with CRF Health Phase-III prostate cancer. The partnership is to serve as support in gathering clinical and endpoint data electronically.
On October 22, 2019, Datatrak International, Inc. announced their deliberation and appointments of E-Clinical Platform discussions, as it will be showcasing the Datatrak Enterprise Cloud at the 16th DIA Japan.
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