eClinical Solutions Market Size to Reach USD 12.76 Billion by 2026 at a CAGR of 12.5% | Valuates Reports
BANGALORE, India, June 28, 2021 /PRNewswire/ -- The eClinical Solutions Market is Segmented by Type by Product (CDMS, EDC, CTMS, RTMS, Clinical Data Integration Platform, eCOA, Safety Solutions, eTMF, RIMS, and Others), Clinical Trial (Phase I, PhaseII, Phase III, Phase IV), Delivery Mode (Web-hosted, Licensed Enterprise, and Cloud-based), Geography (Asia Pacific, Europe, North America and Rest of the World) Industry Forecast to 2026. It is published on Valuates Reports in the Hospitals & Treatment Centers Category.
Globally, the eClinical Solutions Market is growing at a CAGR of 12.5% during the forecast period of 2020-2026, with a base value of USD 6.27 Billion in 2020 to USD 12.76 Billion in 2026.
Major factors driving the growth of the eClinical solution market are:
- Increasing R&D activities by biopharmaceutical and pharmaceutical companies.
- Rising number of chronic diseases, soaring expenditure on the development of clinical trials.
- Increased adoption of smart devices for healthcare service management.
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TRENDS INFLUENCING THE GROWTH OF eCLINICAL SOLUTION MARKET
The expanding trend of outsourcing clinical trials to contract research organizations (CROs), as well as the increasing number of CROs and life sciences companies, are expected to propel the eClinical solution market forward. Furthermore, the growing number of research programs in Asian countries are expected to boost the eClinical solutions market growth.
One of the key growth drivers for the market is a surge in demand for software solutions for clinical trials from pharma and biopharma organizations. Apart from that, rising government funding to support clinical trials and a growing end-user base for eClinical solutions are expected to enhance the market throughout the forecast period.
Increasing adoption of eClinical solutions by Pharmaceutical and biopharmaceutical companies is expected to drive the eClinical solutions market size. Pharmaceutical and biopharmaceutical businesses use software solutions largely during clinical trials to obtain regulatory approval for newly discovered medications. The use of eClinical solutions improves the efficiency of clinical trials and reduces the overall cost and time associated with drug development. As a result of these advantages, pharmaceutical and biopharmaceutical businesses have increased their use of software technology for drug development.
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eCLINICAL SOLUTION MARKET SHARE ANALYSIS
Based on the product, the Electronic Clinical Outcome Assessment (eCOA) is expected to be the rapidly growing segment in the forecast period 2020-2026.
eCOA aids in the preservation of overall quality and is becoming more widely used in the measurement of patient-, clinician-, and observer reported outcomes. The use of eCOA platforms to record data improves the quality of data captured, streamlines data-collecting operations, and allows for better data analysis.
Based on delivery mode, Web-hosted solutions have been dominating the eClinical solutions market share in 2019.
Since web-hosted goods are highly configurable, providers can tailor information displays for different user groups. These products also have a higher level of compatibility. Throughout the projected period, the category is expected to hold its position.
Based on end-users, Contract research organizations are expected to hold the largest eClinical solutions market share.
Based on region, North America was the leading revenue contributor in 2019. The growing target population, together with the increased prevalence of lifestyle-related ailments including diabetes and heart disease, is expected to propel the regional market for eClinical solutions forward. Furthermore, the presence of major competitors and the availability of advanced infrastructure are expected to boost the regional market's growth.
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eCLINICAL SOLUTION MARKET SEGMENTS
Based on Product
- Clinical Data Management Systems (CDMS) and Electronic Data Capture (EDC)
- 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 Trial Master Files (eTMF)
- Regulatory Information Management Solutions (RIMS)
- Others (Institutional Review Board Systems, Coding Systems, and Core Lab Integration Solutions).
Based on Clinical Trial
- Phase I
- Phase II
- Phase III
- Phase IV.
Based on Delivery Mode
- Web-Hosted
- Licensed Enterprise
- Cloud-Based.
Key Companies:
- Crf Health,
- Oracle Corporation,
- Medidata Solutions, Inc,
- Bioclinica, Inc,
- Parexel International Corporation,
- Thermo Fisher Scientific, Inc,
- Merge Healthcare Incorporated,
- Omnicomm Systems Inc,
- ERT CLINICAL,
- Maxisit Inc.
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SIMILAR REPORTS
- The global E Clinical Solution Software market size is projected to reach USD 8225.2 Million by 2026, from USD 3787 Million in 2020, at a CAGR of 13.8% during 2021-2026.
- The global Clinical Data Management System (CDMS) market size is projected to reach USD 3748.3 Million by 2026, from USD 1319 Million in 2019, at a CAGR of 16.1% during 2021-2026. North America is the largest consumption place, with a consumption market share nearly 56.8% in 2019. Following North America, Europe is the second largest consumption place with the consumption market share of 21.9%.
- The global Electronic Data Capture (EDC) market size is projected to reach USD 442.3 Million by 2026, from USD 255.7 Million in 2019, at a CAGR of 8.1% during 2021-2026.
- The global Clinical Trial Management System (CTMS) market size is projected to reach USD 1693.1 Million by 2026, from USD 950.5 Million in 2020, at a CAGR of 10.1% during 2021-2026. North America is the largest consumption place, with a consumption market share over 50% in 2017. Following North America, Europe is the second largest consumption place with the consumption market share.
- The global Electronic Clinical Outcome Assessment (eCOA) Solutions market size is projected to reach USD 2137.5 Million by 2027, from USD 1406.5 Million in 2020, at a CAGR of 5.7% during 2021-2027.
- Electronic Trial Master File (eTMF) Systems Market is segmented by Type Cloud based, On premise, by Application Pharmaceutical Company, Biotechnology Company Contract research organization, Contract Research Organization and by various regions.
- Regulatory Compliance Management Software Market is segmented by Type Cloud based, On premise, by Application Large Enterprises, SMEs and by various regions.
- The global Healthcare Clinical Analytics market size is projected to reach USD 12790 Million by 2027, from USD 7396.2 Million in 2020, at a CAGR of 8.1% during 2021-2027.
- Healthcare Clinical Trial Management Systems Market is segmented by Type Cloud based, On premise, by Application Pharmaceutical and Biopharmaceutical Companies, Medical Device Companies, Contract Research Organizations and by various regions.
- Clinical EHR Market is segmented by Type Hardware, Software, Services & Consulting, b Application Pharmacies, Hospitals, Clinics and by various regions.
- The Telehealth Market is estimated to reach USD 70.19 Billion by 2026, from USD 26.4 Billion in 2020, and register a CAGR of 17.7% during the forecast period.
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