Global E-Clinical Trials Solutions or Suite or Technologies Market

E-Clinical Trials Solutions or Suite or Technologies Market Size, Share, Growth Analysis, By Product(Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS), Clinical Trial Management Systems (CTMS), Clinical Analytics Platforms, Randomization and Trial Supply Management (RTSM)), By Delivery mode(On demand, on premises and Cloud-based), By Development phase(Phase I, Phase II, Phase III, Phase IV), By End-use(Hospitals/Healthcare providers, CROs, Academic Institutes, Pharma & Biotech Organizations), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35G2097 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 124 | Figures: 77

E-Clinical Trials Solutions or Suite or Technologies Market News

  • In June 2021, Bayer AG announced the acquisition of Noria Therapeutics Inc. And PSMA Therapeutics Inc. Both radiotherapy companies are developing targeted therapeutic and imaging radiopharmaceuticals.
  • In August 2021, GE Healthcare and NorthStar Medical Radioisotopes, LLC, a global innovator of radiopharmaceuticals, announced an exclusive agreement to manufacture and distribute iodine-123 (1 123) capsules in the U.S.
  • In March 2021, GE Healthcare introduced StarGuide, a nuclear medicine system to improve patient outcomes in bone procedures, neurology, cardiology, oncology, and other medical specialties.
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E-Clinical Trials Solutions or Suite or Technologies Market size was valued at USD 6.93 billion in 2019 and is poised to grow from USD 7.89 billion in 2023 to USD 21.8 billion by 2031, growing at a CAGR of 13.9% in the forecast period (2024-2031).

E-Clinical Trials Solutions/Suite/Technologies Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Oracle', 'Parexel International Corporation', ' Medidata Solutions, Inc. ', ' BioClinica, Inc. ', ' CRF Health ', ' OmniComm Systems, Inc. ', ' Merge Healthcare Incorporated ', ' eResearch Technology, Inc. ', ' DATATRAK International, Inc. ', ' Bioclinica (Bioclinica Acuity) ', ' Clinical Ink ', ' Dassault Systèmes SE ', ' MedNet Solutions, Inc. ', ' ERT Clinical ', ' ICON plc ', ' ArisLLC ', ' IBM Watson Health ', ' PHT Corporation ', ' Anju Software, Inc. ', ' OpenClinica, LLC '

Personalized or gene-based disease management is becoming more and more popular in the field of medical research and novel drug therapy. In comparison to already available alternative therapies or medications, government reimbursement organisations, commercial insurers, and payers frequently demand novel drugs that have a better therapeutic value and greater efficacy. Additionally, by controlling the standard pricing of innovative pharmaceuticals, these payers are reducing manufacturing businesses’ profit margins. The eClinical solutions sector is concentrating on the development and marketing of software solutions that help speed up and efficiently complete clinical studies. Major pharmaceutical and biotech firms are implementing new business models to lower their overall research expenditures, which is anticipated to fuel demand for sophisticated and cutting-edge eClinical solutions.

A number of market participants launched new goods in this industry. The development of strong diagnostic radiopharmaceutical pipelines and the introduction of new products are results of the increasing demand for nuclear imaging. Additionally, a big population of people with chronic illnesses encourages companies to introduce innovative goods to the market worldwide. Several key market leaders have entered into agreements and partnerships for the development and commercial launches of diagnostic radiopharmaceuticals.

North America dominated the market for eClinical solutions and accounted for the largest revenue share of over 51% in 2021. A growing target population and the incidence of lifestyle-related illnesses like diabetes and heart problems are expected to boost market expansion. The region’s market is also being driven by the introduction of new products by suppliers of eClinical solutions and an increase in government incentives. Additionally, it is projected that the residence of notable players and the accessibility of sophisticated infrastructure will both amplify the growth of the regional market.

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Global E-Clinical Trials Solutions or Suite or Technologies Market

Report ID: SQMIG35G2097

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