eClinical Solutions Market Size Projected To Reach $12,985 Million By 2026: Polaris Market Research
According to a new study published by Polaris Market Research, the global eClinical solutions market is anticipated to reach over USD 12,985 million by 2026. In 2017, the CTMS segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global eClinical solutions market. The report ‘eClinical Solutions Market [By Product & Solutions (ECOA, EDC & CDMS, Clinical Analytics Platforms, Clinical Data Integration Platforms, Safety Solutions, CTMS, RTSM, eTMF, Other Solutions); By Deployment Type (On-Premise, Cloud Based); By Clinical Trial (Phase I, Phase II, Phase III, Phase IV); By End User (Pharma and Biopharma Companies, Hospitals, CROs, Others); By Region]: Market Size & Forecast, 2017 – 2026’ provides insights on the current market scenario and the prospects.
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Government organizations across the globe have implemented stringent guidelines to obtain error-free authentic clinical data due to the burgeoning number of clinical data research. EClinical data software facilitates processing of real-time data entries. Moreover, the need to process massive amount of data in the least possible time increases the adoption of these solutions.
The governments of various countries across the globe have sanctioned funds to promote clinical research of novels drugs. Increase in incidence of diseases across the globe has enforced government agencies to expedite the process of drug approval. The adoption of clinical data management systems has increased in the recent years to process the queueing molecules in the development phase of clinical research.
Technological advancements in eClinical software such as use of cloud computing to secure the data and improve accessibility across remote locations are expected to boost the market growth. Cloud based solution software dominated the global market in 2017, owing to the ease of delivery and convenience of upgrading to advanced versions. This segment has been gaining traction in the recent years, and is expected to grow at the fastest rate during the forecast period.
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Several pharmaceutical organizations have deployed eClinical solution software to comply with the norms of the regulatory bodies for processing clinical data without errors and without any scope for manipulation. According to the ALCOA standard, the use of electronic clinical outcome assessments (eCOA) is essential in clinical trials, as these use smartphones, tablets, and personal computers to allow patients, clinicians, and their caregivers to directly report outcomes, which ensure highly productive data for better understanding of patient experience and faster approval process.
Among end users, the CROs segment is expected to grow at the fastest rate due to the ongoing trend of outsourcing clinical research operations to these third party organizations to save time and cost. As most of the drugs that have cleared Phase III clinical trials can be marketed under FDA norms with proper recommendations and guidelines through a new drug application (NDA), a majority of the drugs across the globe are in this phase of clinical research. Hence, most of the clinical data management systems were used for conducting phase III clinical trials.
The key players profiled in the report are Oracle Corporation, Parexel International Corporation, Medidata Solution, Inc., DataTrak International, Inc., CRF Health, OmniComm Systems, BioClinica Inc., eResearch Technology, eClinical Solutions, Inc., and PHT Corporation. The prominent players operating in the industry have adopted various strategies such as mergers and acquisition, product innovation and expansion, and R&D of innovative products.
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Polaris Market Research has segmented the global eClinical Solutions market on the basis of Product & Solutions, Deployment Type, Clinical Trial, End User and region:
eClinical Solutions Market Size and Forecast, 2017-2026 by Product & Solutions
- Electronic Clinical Outcome Assessment (ECOA)
- Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS)
- Clinical Analytics Platforms
- Clinical Data Integration Platforms
- Safety Solutions
- Clinical Trial Management Systems (CTMS)
- Randomization and Trial Supply Management (RTSM)
- Electronic Trial Master File (eTMF)
- Other Solutions
eClinical Solutions Market Size and Forecast, 2017-2026 by Deployment Type
- On-Premise
- Cloud-Based
eClinical Solutions Market Size and Forecast, 2017-2026 by Clinical Trial
- Phase I
- Phase II
- Phase III
- Phase IV
eClinical Solutions Market Size and Forecast, 2017-2026 by End User
- Pharma and Biopharma Companies
- Hospitals
- CROs
- Others
eClinical Solutions Market Size and Forecast, 2017-2026 by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Rest of Europe
- Asia-Pacific
- China
- India
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
Key players in global eClinical Solutions Market:
- Oracle Corporation
- Parexel International Corporation
- Medidata Solution, Inc.
- DataTrak International, Inc.
- CRF Health
- OmniComm Systems
- BioClinica Inc.
- eResearch Technology
- PHT Corporation
- eClinical Solutions, Inc.
About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to our customers.
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