Growth of eClinical solutions market driven by need for improved data standardization and an in creasein R&D expenditure by pharma-biotech companies with significant IT budgets for drug development.
The global eClinical solutions market is estimated to reach 7.61 Billion by 2022, at a CAGR of 12.4% during the forecast period (2017-2022). Adoption of novel software solutions during clinical research and rising government funding to support clinical trials are key factors fueling the growth of the market. Geographically, North America commanded largest share of eClinical solutions market, followed by Europe. In addition, rising number of clinical trials, especially across emerging countries in Asia-Pacific region, offers growth opportunities for vendors of eClinical solutions.
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The global eClinical solutions market is divided into phase I, phase II, phase III, and phase IV. The phase III clinical trials segment accounted for the largest share of the global eClinical solutions market in 2016. In addition, phase III clinical trials segment is expected to grow at the highest CAGR during the forecast period. Report on eClinical solutions market covers software solutions used across all phases in clinical trial process.
“Increasing R&D Expenditure By Pharma-Biotech Companies With Augmented It Expenditure Allocations for Drug Development Pipeline.”
eClinical solutions market is highly competitive, with a large number of global and local players. Oracle Corporation (U.S.) Medidata Solutions, Inc. (U.S.), and PAREXEL International Corporation (U.S.) were the top three players in the eClinical solutions market in 2018. A number of factors like increasing government grants to support clinical trials, continuous product development and launch by eClinical solution vendors, growth in number of partnerships for new drug development, high prevalence of lifestyle diseases, & an increasing aging population are further stimulating demand for eClinical solutions in North America.
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eClinical solutions market are focusing on partnerships, agreements, and collaborations as their key growth strategy, to maintain their position in the market and strengthen their revenue base. Companies also aim to differentiate themselves in the highly competitive eClinical solutions market by expanding their eClinical solutions portfolios in accordance with industry trends and client needs.
Key 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
It aims at estimating market size and future growth potential of this market across different segments such as product type, delivery mode, clinical trial phase, end user, and regions. 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.
More Details on “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” report @ http://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=187723 .
Key players in eClinical solutions market report are like Medidata Solutions, Inc. (US), PAREXEL International Corporation (US), and BioClinica, Inc. (US), OmniComm Systems, Inc. (US), DATATRAK International Inc. (US), ERT (US), Merge Healthcare Incorporated (US), CRF Health (US), and eClinical Solutions, Inc. (US) among others
2 Market Share Analysis
3 Competitive Situation and Trends
4 Agreements, Partnerships, and Collaborations
5 Product Deployments
6 Product Launches & Product Enhancements
7 Mergers & Acquisitions
The web-based delivery mode segment commanded the largest share of the global market. A number of factors such as easy user access, reductions in cost, and faster retrieval of data are responsible for its prominent market share. The cloud-based delivery mode segment is estimated to register the highest growth rate during the forecast period. The ease of integration, quicker deployment, and flexible scalability with a fixed monthly fee offered by cloud-based models are expected to drive the demand for these solutions.