The Global eClinical Solution Market is expected to register an exceptional growth at an admirable 11% CAGR over the predicted years (2018-2022). eClinical solutions are used for performing electronic data capturing as well as processing through automation. It offers customized data management solutions and services including analytical capabilities, data standardization, clinical reporting, data management and EDC.
There are many factors that is fueling the growth of the eClinical Solution Market. The different market trends and factors in this market according to an analysis performed by Market Research Future (MRFR) include rising regulatory needs associated to clinical research studies, rising operational costs, increasing acceptance of software solutions while performing clinical trials, rise in research and development expenditure, increase in the number of clinical trials and increasing support for clinical trials from the government through funding and grants. On the contrary factors such as scarcity of skilled research professionals, concern for patient data privacy, high operational costs related to e-clinical solutions and lack of high-speed internet facilities are likely to constraint the growth of the eClinical Solution Market.
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Competitive Analysis
The eClinical Solution Market is price-sensitive, growing and highly competitive owing to rising adoption of mid-sized and smaller sponsors. The firm concentration is likely to boost up in the emerging markets. The companies are immersed dynamically in partnerships and collaborations for building innovative approach to provide advanced tools for managing clinical trials and drug studies. The majority of the collaborations and partnerships are focused on streamlining and accelerating the clinical trial data collection (CTDC) and management process. This ensures standardizing processes and regulatory compliances to offer services to pharmaceutical companies and hospitals and augmenting business intelligence. Hence the rising number of partnerships and collaborations is a key trend in the global eClinical Solution Market.
Key Players
Leading players profiled in the eClinical Solution Market include ERT Clinical, Maxisit Inc, Omnicomm Systems Inc, Datatrak International, Merge Healthcare Inc, CRF Health, Bioclinica Inc, Medidata Solutions Inc, eClinical Solutions Inc, Parexel International Corporation and Oracle Corporation.
Nov 2018- Renowned software provider of service solution for clinical trials, Medidata has joined hands with one of the biggest biotech companies in China, Hengrui Pharma to offer innovative therapies and quicken global drug research. This expansion will help in expanding drug therapies to worldwide patients.
In November 2018, Medidata, a leading provider of software as a service solution for clinical trials, announced a partnership with Hengrui Pharma, one of China’s largest biotech companies, to deliver innovative therapies and accelerate global drug research. Hengrui has adopted the Medidata cloud platform clinical trial management system which would support Hengrui to expand its drug therapies to patients around the world.
In September 2018, Veeva Systems, a provider of cloud-based solutions for the global life sciences industry, announced the launch of an advanced cloud-based clinical data management application to streamline and accelerate clinical study execution. The application can single-handedly manage all trial data and also includes Vault CTMS, Vault eTMF, and Vault Study Startup which helps unify all operations.
April 03, 2018 – MedNet Solutions (US), a leading cloud-based eClinical technology company launched its latest eClinical solution – iMedNet, a proven SaaS (Software-as-a-Service) clinical research technology platform that delivers an entire suite of eClinical tools to support clinical trial thoroughly (from start to finish).
February 9, 2018 – Oracle Corporation (US), technology giant launched its new Cloud-Based eClinical Solution – Clinical One Platform. The solution allows unified clinical development operations and information in a single environment with shared functions along with an easy-to-use interface for sites, clinical coordinators, and their counterparts.
Segmentation
In the Market Research Future (MRFR) report, the eClinical Solution Market has been segmented on the basis of product, delivery mode and end-user.
Based on product, it is segmented into electronic trial master files (ETMF), safety solutions, electronic clinical outcome assessment (ECOA), clinical data integration platforms, clinical data management systems (CDMS), electronic data capture (EDC), clinical trial management systems (CTMS), randomization and trial supply management systems (RTMS) and clinical analytics platform. Of these, CTMS will rule the market during the predicted years.
Based on delivery mode, the eClinical Solution Market is segmented into cloud-based (SaaS), licensed enterprise (on-premise) and web-hosted (on demand). Of these, on-premise eClinical solutions will dominate the market.
Based on end-user, it is segmented into academic research organizations, pharmaceutical companies, hospitals, consulting service companies, medical device manufacturers and contract research organizations. Of these, pharmaceutical companies will have the maximum share in the eClinical Solution Market.
eClinical Solution Market – Regional Analysis
Based on region, the eClinical Solution Market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World. Of these, North America will retain its dominance in the market owing to soaring demand for products that are technologically advanced, increasing ongoing clinical trials along with rising financial support from the government. The eClinical Solution Market in the APAC region is anticipated to grow at the highest CAGR owing to government funding for supporting clinical research coupled with increasing outsourcing of clinical trials by the top biopharmaceutical companies in the region’s developing countries. The market in Europe is anticipated to touch the highest CAGR owing to increasing investment in research and development. On the other hand, the eClinical Solution Market in the Middle East and Africa will have a small share during the predicted years owing to poor economies, stringent policies laid down by the government and existence of a huge patient base.
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