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Global eClinical Solutions Market – Business Growth, Size, Development Status, Key Players Analysis and Research Study Forecast to 2022

 

The report \“eClinical Solutions Market by Product (CDMS, EDC, CTMS, eCOA, Analytics, RTMS, eTMF, Safety), Delivery Mode (On-Demand, On-premise, Cloud-based), Clinical Trial Phases, End User (Pharma/Biopharma Companies, CROs, Hospitals) – Global Forecast to 2022\“, analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
[163 Pages Report] eClinical solutions market is estimated to reach 7.61 Billion by 2022, at a CAGR of 12.4% during the forecast period (2017-2022). Increasing operational costs and regulatory requirements associated with clinical research studies, government grants to support clinical trials, and increasing R&D expenditure by pharma-biotech companies with augmented IT budgets for drug development are some of the major driving factors for the global market. However, the low adoption rate in certain geographies due to a lack of awareness related to the benefits of eClinical solutions is the major factor restraining the growth of this market.
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Market Dynamics
Drivers
• Increasing operational costs and regulatory requirements associated with clinical research studies
• Growing adoption of novel software solutions in clinical research
• Rising government funding & grants to support clinical trials
• Growing adoption of eClinical solutions for improved data standardization
• Increasing R&D expenditure by pharma-biotech companies with augmented it expenditure allocations for drug development pipeline
• Growing customer base for eClinical solutions
Restraints
• High implementation costs associated with eClinical solutions
• Dearth of skilled professionals for operating eClinical solutions
• Limited awareness among researchers related to advantages of eClinical solutions
Opportunities
• Increasing clinical research activities in emerging Asian countries
• Increased outsourcing of clinical trial processes by industrial researchers to CROs
• Rising number of clinical trials, especially across emerging countries
• Shift from manual data interpretation to real-time data analysis during clinical studies
Challenges
• Limited adoption of eClinical solutions in developing nations
• Software reliability
• Patient privacy
Target Audience
• Healthcare IT Service Providers
• eClinical Solution Vendors
• Clinical Research Organizations
• Pharmaceutical/Biopharmaceutical Companies
• Research and Development (R&D) Companies
• Business Research and Consulting Service Providers
• Medical Research Laboratories
• Academic Medical Centers/Universities/Hospitals
• Venture capitalists and other government funding organizations
• Market research and consulting firms
From 2013 to 2016, key players in the eClinical solutions market focused on strategies such as partnerships, agreements, and collaborations; expansions; product launches and enhancements; and mergers and acquisitions in order to strengthen their global position.
As of 2016, Oracle Corporation (U.S.) held the leadership position in the eClinical solutions market. Over the past three years, the company has adopted partnerships, agreements, and collaborations and product launches, enhancements, and deployments as key business strategies to ensure its dominance. Medidata Solutions, Inc. (U.S.) PAREXEL International Corporation (U.S.), BioClinica, Inc. (U.S.), CRF Health (U.S.), DATATRAK International, Inc. (U.S.), ERT (U.S.), MaxisIT Inc. (U.S.), Bio-Optronics, Inc. (U.S.), eClinical Solutions, Inc. (U.S.), Merge Healthcare Incorporated (U.S.), and OmniComm Systems, Inc. (U.S.) are some of the other key players in this market.
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Scope of the Report
This report categorizes the eClinical solutions market into the following segments:
By Product
• Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS)
• Clinical Trial Management Systems (CTMS)
• Clinical Analytics Platform
• Randomization and Trial Supply Management (RTMS)
• Clinical Data Integration Platform
• Electronic Clinical Outcome Assessment (eCOA)
• Safety Solutions
• Electronic Trail Master Files (eTMF)
• Regulatory Information Management Solutions (RIMS)
• Others (Coding Systems, Institutional Review Board Systems, and Core Lab Integration Solutions)
By Delivery Mode
• Web-hosted (On-demand)
• Licensed Enterprise (On-premise)
• Cloud-based (SaaS)
By Clinical Trial Phase
• Phase I
• Phase II
• Phase III
• Phase IV
By End User
• Pharmaceutical and Biopharmaceutical Companies
• Contract Research Organizations
• Consulting Service Companies
• Medical Device Manufacturers
• Hospitals
• Academic Research Institutions
Key Questions
• Technological advancements such as ‘cloud computing’ and ‘real-time data analysis’ are expected to fuel the market demand for eClinical solutions among end users. What would be other factors impacting the growth of eClinical solution market?
• eClinical solutions market is a highly competitive market with presence of several tier 1, 2, and 3 companies. What are key challenges faced by emerging market players to enter eClinical solutions market?
• Cloud-based (SAAS) solutions are fast growing segment in the eClinical solution market. What revenue impact will it have on the overall eClinical solutions industry during the forecast period?
• What are the major revenue impacting eClinical solutions offering high growth potential to the industry players? Where will these solutions lead the eClinical solutions market in upcoming 4-5 years?
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Posted by on 24. April 2019.

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