Global eClinical solution market is expected to witness a lucrative growth over the forecast period. The key factors enhancing market growth are increase in number of potential customers, growth in government funding to support clinical trials, increase in R&D expenditure by biopharmaceutical and pharmaceutical companies, increasing adoption of software solutions during research activities,and rise in the number of life sciences companies. In addition, development of cost-effective modules and increase in the amount of clinical trials related outsourcing activities to CROs are other drivers propelling market growth.
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The global eClinical solution market is segmented on the basis of type of products, Clinical Trial Management System (CTMS), Randomization &Trial Supply Management Systems (RTMS), Electronic Data Capture (EDC), clinical analytics platform, Clinical Data Management System (CDMS), electronic Clinical Outcome Assessment (eCOA), clinical data integration platform, electronic Trial Master Files (eTMF), safety solution, and others (coding system, regulatory information management solutions and core laboratory integration solutions). EDC and CDMS segments are collectively estimated to dominate market. However, eCOA is expected to grow at the fastest growth rate over the forecast period.
Randomization helps pharmaceuticals to achieve group balance, limit the predictability of treatment, and eliminate selection bias.Trial management system on the other hand reduces wastage of time and improves the efficiency of data.
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Clinical trial management system helps pharmaceutical companies to track and record a complex array of financial, administrative and site-related data for efficient monitoring, and management of clinical trials.Electronic Data Capture (EDC) uses electronic Case Report Forms (CRFs) instead of paper for recording clinical data. It helps in increasing the efficiency of data collection and cleaning the data.
The market is also segmented on the basis of mode of delivery of these solutions. These are- web based (on demand), licensed enterprise (on-premise), and cloud based (SaaS-software as a service). Cloud-based solution is expected to be the fastest growing segment owing to its growing adoption rate and is also expected to help many organizationsto grow by increasing the efficiency and capability of their services.
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