USD 6.93 billion
Report ID: SQMIG35G2097 | Region: Global | Published Date: February, 2023 | Pages: 242 | Tables: 124 | Figures: 77
Global E-Clinical Trials Solutions or Suite or Technologies Market size was valued at USD 6.93 billion in 2021 and is poised to grow from USD 7.89 billion in 2022 to USD 21.8 billion by 2030, growing at a CAGR of 13.9% in the forecast period (2023-2030).
In the biopharmaceutical sector, the phrase “e-Clinical” refers to an electronic system for automating management that aims to take the place of manual, ad hoc, or paper-driven procedures. In the past, the term “eClinical” referred to any technological application employed during a clinical trial. E-Clinical solutions are used to manage the complete clinical trial process as well as the enormous amounts of data involved at different phases and from different sites. They support competent and exact clinical trial design, preparation, execution, and reporting, including participant information, trial and filing deadlines, and other crucial milestones.
In developed nations like the U.S., where clinical trials are subject to strict regulations, the market for eClinical solutions is expanding due in large part to the increased requirement for safety monitoring. For instance, the National Institutes of Health and the U.S. Department of Health and Human Services are encouraging the sharing of clinical data and tightening the criteria for registering clinical trials. One of the key factors driving the market for eClinical solutions is the soaring demand from pharmaceutical and biopharmaceutical businesses for software solutions for clinical trials. Additionally, expanding the end-user base for eClinical solutions and increased government funds to support trials are predicted to drive the market for these products throughout the study period.
Global Market Size
USD 6.93 billion
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Global E-Clinical Trials Solutions or Suite or Technologies Market is segmented based on Product, delivery mode, development phase, end-use and region. Based on product, the Market is segmented into Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS), Clinical Trial Management Systems (CTMS), Clinical Analytics Platforms, Randomization and Trial Supply Management (RTSM), Clinical Data Integration Platforms, Electronic Clinical Outcome Assessment (eCOA), Safety Solutions, Electronic Trial Master File (eTMF). Based on the delivery mode, the market has been segmented into on demand, on premises and Cloud-base. Based on the development phase, the market has been segmented into Phase I, Phase II, Phase III, Phase IV. Based on end users the market is segmented into Hospitals/Healthcare providers, CROs, Academic Institutes, Pharma & Biotech Organizations, Medical Device Manufacturers. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Delivery Mode
The web-hosted (on demand) segment dominated the market for eClinical solutions and accounted for the largest revenue share of over 74.1% in 2021. The segment’s prominence can be attributed to advantages including simplicity of use, usability, and minimal initial investment. Due to the ease with which web-hosted goods can be customised, providers are able to alter how information is presented to different user groups. These goods are more interoperable than others in their class. Throughout the predicted period, the category is positioned to hold its position.
The cloud-based segment is the fastest growing segment and anticipated to exhibit an exponential CAGR of 15.2% during the forecast period. A result of built-in capabilities including adaptability, high accessibility, low 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. The demand for cloud-based solutions is expected to increase as a result of these related benefits.
Analysis by Development Phase
The phase III segment dominated the eClinical solutions market and accounted for the largest revenue share of over 53.1% in 2021. 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. Phase III entails evaluating a drug’s effectiveness on a group of more than 1,000 patients. The complexity of the study rises as the number of participants does, which fuels the demand for computer-based data management systems and accelerates the use of eClinical solutions.
The phase I segment is the fastest-growing segment and estimated to be the highest CAGR during the forecast period. Due to the great importance of these systems in predicting future results and excluding medication candidates with the lowest likelihood of success. The creation of novel medications is booming as a result of advancements in personalised medicine and biological modelling systems. The segment’s expansion is anticipated to be fueled by a significant number of phase I trials and a complicated management and analysis of data gathered during various research.
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North America dominated the market for eClinical solutions and accounted for the largest revenue share of over 51% in 2021. A growing target population and the incidence of lifestyle-related illnesses like diabetes and heart problems are expected to boost market expansion. The region’s market is also being driven by the introduction of new products by suppliers of eClinical solutions and an increase in government incentives. Additionally, it is projected that the residence of notable players and the accessibility of sophisticated infrastructure will both amplify the growth of the regional market.
Asia Pacific, the market for eClinical solutions is fastest growing with highest CAGR at 15.45% over the forecast period. The demand for software solutions in the region is being fueled by the region’s high unmet medical requirements and the increased prevalence of key chronic diseases like cancer, cardiovascular problems, and infectious diseases. Due to their enormous patient populations and inexpensive costs, nations like China, India, Korea, and Japan are receiving an increasing number of trials. The adoption of eClinical solutions in these areas has therefore increased as a result of this outsourcing. Government funding for drug development and research, which is expected to increase throughout the forecast period, is one of the main drivers of the APAC market’s growth as an emerging country.
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Increasing Operational Costs and Regulatory requirements associated with Clinical Research Studies
High Implementation Costs associated with EClinical Solutions
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E-Clinical Trials Solutions/Suite/Technologies Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Player's Company Profiles
Medidata Solutions, Inc.
OmniComm Systems, Inc.
Merge Healthcare Incorporated
eResearch Technology, Inc.
DATATRAK International, Inc.
Bioclinica (Bioclinica Acuity)
Dassault Systèmes SE
MedNet Solutions, Inc.
IBM Watson Health
Anju Software, Inc.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our E-Clinical Trials Solutions/Suite/Technologies Market analysis, among regions North America is expected to capture higher market share, the growth of the region is attributed to growing target population and the incidence of lifestyle-related illnesses like diabetes and heart problems are expected to boost market expansion. The US has emerged as a significant contributor to market growth in North America. In terms of deployment mode, the web-hosted segment dominates the marine hybrid propulsion market. This segment's leading position can be attributed to its advantages including simplicity of use, usability, and minimal initial investment. In terms of development mode, phase III led the market and is predicted to grow at the fastest rate.
|Market size value in 2021||USD 6.93 billion|
|Market size value in 2030||USD 7.89 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
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For the Global E-Clinical Trials Solutions or Suite or Technologies Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global E-Clinical Trials Solutions or Suite or Technologies Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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