Overview:
The Global eClinical Solutions Market is slated to climb a valuation of USD 9434.57 million with a CAGR of 12% between 2021 and 2027. Market Research Future (MRFR) in their new report on the market has mentioned the possibilities of triggering significant market growth during the same time frame, which can be considered forecast period.
eClinical solutions are known for their ability to combine clinical technology with expertise of the system. This system gets significant application in the improvement procedure of various clinical development by using data management and data analysis. The global market for eClinical solutions is getting significant growth from the increasing research and development sector, and significant market contribution by various biopharmaceutical and pharmaceutical companies. Among the other factors, hike in investment to spur development of clinical trials, increasing number of chronic diseases patients in sectors like cancer, diabetes, cardiovascular diseases, and chronic respiratory diseases, and surge in smart device adoption for healthcare management are points that can be used to assess the movement of the global eClinical solutions market.
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Market Drivers and Restraints:
Rapid increase in patient population and high prevalence of chronic diseases are inducing high demand for optimization of healthcare services. Incorporation of automation, recent development in artificial intelligence and machine learning technologies are some of the major factors that are propelling the growth of the global eClinical solutions market. Increased government funding for the development of healthcare services in the developed and developing regions and high demand for a sophisticated platform to manage a large amount of data from clinical research, and clinical trials are also fueling the growth of the global eClinical solutions market. However, poor economic conditions and low penetration of advanced technology in the underdeveloped regions are restraining the growth of the global eClinical solutions market during the assessment period.
Segmentation:
MRFR’s report has a better grip over the global eClinical solutions market as it tries to understand by segmenting it on the basis of type, delivery mode, clinical trial phase, and end-user. This segmentation allows better market understanding with a close reading of the global trends that can transform the market in the coming years.
Based on the type, the eClinical solutions market comprises clinical data management system (CDMS), randomization & trial supply management (RTSM), electronic trial master files (eTMF), electronic clinical outcome assessment (eCOA), clinical trial management system (CTMS), and trial safety & regulatory. The Clinical Data Management System (CDMS) segment had the highest market share in 2017, and can take the market lead to USD 2579million valuation by the end of 2023. The Electronic Clinical Outcome Assessment (eCOA) segment, is projected to be the fastest growing segment with the Clinical Data Management System (CDMS) segment segmenting it closely.
Based on the Delivery Mode, the eClinical solutions market comprises web-based, cloud-based, and enterprise-based.
By Clinical Trial Phase, the eClinical solutions market consists Phase I, Phase II, Phase III, Phase IV. The Phase IV segment had the largest market share among all the other in the eClinical solutions market.
Based on the end-user segment, the eClinical solutions market comprises contract research organizations (CROs), pharma/biotech companies, and others. The Contract Research Organizations (CROs) segment has the dominance in the rising clinical trials outsourcing.
Regional Analysis:
The Americas had a market coverage of around 47.99% in 2017, with the regional market showing immense possibilities of scoring a CAGR of 12.41 % over the review period. The regional market can be segmented into North America and South America. North America includes the US that has the largest market coverage and Canada that has the potential to showcase the highest growth rate of 9.98% during the forecast period.
The Asia-Pacific market has the potential to scale significant height during the forecast period owing to the huge population that resides in the region. Also, significant amount of clinical trials for diverse patient population and the growth in the geriatric population can be taken into consideration to get hold of the prospects of the market. Japan and China are major market contributors for the regional market.
Competitive Landscape:
Several companies in the global eClinical solutions market has revealed their intention to take the global market to the next level. This is expected to happen with the increasing strategic moves employed by them. MRFR enlisted these companies to have a better profiling of the market and understand trends that can change the global market in the coming years. These companies are PAREXEL International Corporation, ERT Clinical, CRF Health, BioClinica, Inc., Omnicomm Systems, Inc., DATATRAK International, Inc., Oracle Corporation, Medidata Solutions, Inc., Merge Healthcare Inc, and MaxisIT. Various methods like merger, acquisition, collaboration, partnership, product launch, and others have been included in the global market study.
In August 2019, HCL Technologies and Oracle Health Sciences announced their collaboration for mHealth in clinical trials. This partnership is also expected to improve the eClinical solution market.
Key Players:
The major players profiled by MRFR that are operating in the global eClinical solutions market are Oracle Corporation, Parexel International Corporation, eClinical Solutions Inc, Medidata Solutions Inc, Bioclinica Inc, CRF Health, Datatrak International, Merge Healthcare Inc, Omnicomm Systems Inc, Maxisit Inc, and ERT Clinical. The innovative initiatives such as advanced solution launch, strategic mergers and acquisitions, and increased research and development expenditure are aiding the players to sustain the competition and expand their businesses in the global eClinical solutions market.
1 Executive Summary
1.1 Market Attractiveness Analysis 15
2 Market Introduction
2.1 Definition 19
2.2 Scope Of Study 19
2.3 Assumptions 19
2.4 Market Structure 19
3 Research Methodology
3.1 Research Process 20
3.2 Primary Research 21
3.3 Secondary Research 22
3.4 Market Size Estimation 23
3.5 Forecast Model 23
4 Market Dynamics
4.1 Introduction 24
4.2 Drivers 25
4.2.1 Increasing R&D Activities By Biopharmaceutical And Pharmaceutical Companies 25
4.2.2 Growing Expenditure In The Development Of Clinical Trials 25
4.2.3 Rising Burden Of Chronic Diseases 25
4.2.4 Increased Use Of Smart Devices For Healthcare Management 26
4.3 Restraints 26
4.3.1 Shortage Of Healthcare Professionals And Patients For Clinical Trials 26
4.3.2 Security And Confidentiality Of Data 26
4.4 Opportunities 27
4.4.1 Increasing R&D For Precision Medicine Will Strengthen The Market For EClinical Solutions 27
4.5 Mega Trends 27
5 Market Factor Analysis
5.1 Value Chain Analysis 28
5.1.1 Inputs 28
5.1.2 Software Development Process 29
5.1.3 Output 29
5.1.4 Marketing And Distribution 29
5.1.5 Post-Selling Services 29
5.2 Porter’s Five Forces Model 30
5.2.1 Threat Of New Entrants 30
5.2.2 Bargaining Power Of Suppliers 31
5.2.3 Bargaining Power Of Buyers 31
5.2.4 Threat Of Substitutes 31
5.2.5 Intensity Of Rivalry 31
5.3 Regulatory Framework 32
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half- Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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Downstream analysis:The global glycinates market is segmented into type, form, and application.On the basis of the type, it is segmented into zinc, copper, manganese, magnesium, calcium, sodium, and others.
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Additionally, restriction on the use of antibiotics in food & feed formulations in the North American & European region is adding fuel to the market growth.
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Analysts have also studied the market to understand potential threats and challenges the market companies could face.
Although the market is poised to grow at a fast pace across product, disease indication, and manufacturing segments, factors such as restrictions in access to capacity could slow down the market's growth worldwide.Market Segmentation The Market Research Future report offers a complete segmental analysis of the biologics market based on manufacturing, disease indication, and product.
Regional AnalysisBy region, the biologics market report covers the latest trends and growth opportunities across the Americas, the Asia Pacific, Europe, and the Middle East and Africa.
Various factors are propelling the growth of the biologics market in the region, such as investments in new facilities for producing drugs for clinical trials, strong economic growth of Canada and the US, and rapid adoption of manufacturing technologies.
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