USD 7.18 billion
eClinical Solutions Market Size, Share, Growth Analysis, By Product(EDC & CDMS, CTMS, Clinical Analytics Platforms, RTSM), By Delivery mode(Web-hosted Models, On-Premises, Licensed Enterprise Models, and Cloud-based Solutions), By End Use(Pharmaceutical & Biopharmaceutical Companies, Contract Research Organizations, Consultancy Service Companies, Medical Device Manufacturers), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35G2095 |
Region:
Global |
Published Date: July, 2024
Pages:
265
|Tables:
123
|Figures:
77
eClinical Solutions Market Insights
Global eClinical Solutions Market size was valued at USD 7.18 Billion in 2022 and is poised to grow from USD 8.15 Billion in 2023 to USD 22.35 Billion by 2031, growing at a CAGR of 13.4 % in the forecast period (2024-2031).
The eClinical solutions market is experiencing tremendous growth owing to the incorporation of software solutions in clinical trials. Furthermore, the increasing trend of clinical trial outsourcing to contract research organization (CRO) is also boosting the market growth. The rising number of life science organizations and CROs is helping the market to gain immense traction. Recent growth of research activities related to the development of cost-efficient solutions or modules, especially in the developing economies is also propelling the market growth. Moreover, the presence of stringent regulations for clinical trials along with increasing requirement for safety monitoring is also playing a vital part in fueling the adoption of eClinical solutions in various regions. The demand for eClinical solutions is also increasing among biopharma and pharma companies due to the high requirement for software solutions for clinical trials. Many government facilities are also implementing favorable policies to increase the end-users of eClinical solutions. They are also offering grants or incentives to conduct more medical trials, resulting in further progression of the market.
US eClinical Solutions Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Phase-I
Fastest Growth
Phase-I
Growth Rate
13.4% CAGR
Global eClinical Solutions Market ($ Bn)
Country Share for North America Region (%)
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eClinical Solutions Market Segmental Analysis
Global eClinical Solutions Market is segmented based on the Product, Delivery Mode, End-user, And Region. Based on Product, the market is segmented into EDC & CDMS, CTMS, Clinical Analytics Platforms, RTSM, RIMS, eCOA Solutions, eTMF System, and Others. Based on Delivery Mode, the market is segmented into Web-hosted Models, Licensed Enterprise Models, and Cloud-based Solutions. Based on End-use, the market is segmented into Pharmaceutical & Biopharmaceutical Companies, Contract Research Organizations, Consultancy Service Companies, Medical Device Manufacturers, Hospitals, And Academic & Research Institutes. Based on Region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Analysis by Delivery Mode
Based on delivery mode, the cloud-based solution is dominating the eClinical solutions market with maximum market revenue. The growth of this segment is mainly due to its various benefits like cost-efficiency, easy access to data, and scalability. With the help of cloud-based solutions, clinical trials will become easy to access from anywhere and it is particularly useful for remote clinical trials. These solutions also provide better flexibility in pricing models compared to others, enabling medical organizations to pay only for the services they need. Another factor boosting the adoption of the cloud-based eClinical solutions is the necessity for better collaboration and data sharing among the stakeholders connected to the clinical trials. Cloud-based solutions also offer a centralized platform for stakeholders like investors, sponsors, and regulators. This helps to get access and share data in real time, resulting in efficient clinical trial management.
On-premises delivery mode is the fastest growing segment in the eClinical solutions market. This on-premises delivery mode involves installing services and solutions on the computer available in the organization. Even though the software must be installed on the company’s premises, it can be easily accessed from remote locations. This offers the benefit of minimized expense due to low power consumption and system maintenance. The on premises eClinical solutions is the most used solution among organizations because of its better security and ease of use. The demand for these services is increasing rapidly as they provide complete access to information and full control within premises.
Analysis by End User
Based on end user, contract research organization (CROs) segment is dominating the market with the largest revenue share. The segment is growing rapidly due to the increasing inclination of pharmaceutical firms to minimize their overall expenses. The growing use of eClinical solutions in research is also increasing opportunities for the segment to grow. The demand of this segment is also increasing due to the benefits related to outsourcing clinical trials to CROs. These advantages include minimized expense, increased efficiency of services, improved productivity, and better emphasis on care areas of development that are vital for the company’s growth.
The pharmaceutical and biopharmaceutical segment is growing at the fastest rate in the eClinical solutions market. Pharmaceutical and biopharmaceutical organizations must deal with various problems related to the scrutiny of their clinical trials, which can lead to a massive loss of time and money. The requirement for data management has encouraged these organizations to heavily adopt eClinical solutions like CTMS. Many prominent market players have also entered longstanding partnerships and collaborations with many medical companies to improve clinical trial experiences with the help of eClinical solutions. Moreover, many researchers are also adopting eClinical solutions that offer enhanced clinical trials and streamline research workload. Such software enables pharmaceutical and biopharmaceutical companies to detect procedural bottlenecks in clinical trials. This is boosting the demand for the market among researchers in the pharmaceutical and biopharmaceutical organizations for clinical research programs.
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eClinical Solutions Market Regional Insights
North America is dominating the eClinical solutions market and will continue to grow in the near future. Factors like easy regulatory procedure, extended number of pharmaceutical and biotech organizations along with presence of CRO in the region is boosting the demand for eClinical solutions in the region. Furthermore, the increasing prevalence of chronic diseases in the region has also resulted in high expenditure in medical trials, which is positively influencing the market. The increasing target population along with the increasing prevalence of lifestyle diseases like diabetes and cardiac disorder is also stimulating the growth of the market. eClinical solution companies are also launching new products into the market in this region, propelling the growth.
The Asia-Pacific region is experiencing the fastest growth in the eClinical solutions market. This is mainly due to the unmet medical requirements and increasing prevalence of target chronic diseases like cancer, cardiovascular conditions, and infectious disease. These are increasing the demand for eClinical software solutions in the region. In recent times, most of the clinical trials are outsourced to countries like China, India, Korea, and Japan due to a large patient population and low expense. This outsourcing has driven the adoption of eClinical solutions in these regions. As developing economies, the growth of the APAC market is primarily boosted by government funding because of research and drug discovery, which is increasing its growth.
Global eClinical Solutions Market By Geography
- Largest
- Fastest
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eClinical Solutions Market Dynamics
eClinical Solutions Market Driver
Increasing Adoption of Novel Software Solutions in Clinical Research
- Clinical research has to face immense difficulties related to patient recruitment, data access, and manual data generation. This has resulted in an extension of timelines and increased expenses. Researchers are now using innovative eClinical solutions to address these challenges and enhance the efficiency of clinical trials. These solutions provide advantages like enhanced site performance, streamlined workload, and cost-efficiency compared to conventional methods.
Increasing Outsourcing of CROs
- Pharmaceutical and biotechnology organizations are mostly outsourcing clinical trial activities to CROs. This transformation offers new revenue opportunities for eClinical solutions providers as CROs take on a more vital role in clinical research. The growing number of CROs across emerging economies further contributes to this trend. This is positively influencing the growth of the eClinical solutions market.
Restraints
High Implementation Expenses
- eClinical solutions provides substantial benefits, but they also come with a massive price tag. The installation and maintenance expenses of these solutions can be significant, particularly for cloud-based options. This high expense can restrict price-sensitive and small-sized end users from adopting advanced eClinical software solutions. These factors are restricting the growth of the eClinical solutions market.
Limited Adoption in Emerging Economies
- Emerging economies frequently deal with limited adoption of eClinical solutions due to budget constraints and low technology awareness. While many regions show higher utilization in comparison to others, overall adoption remains less in emerging and underdeveloped markets. Financial constraints, technical difficulties, and absence of IT infrastructure are restraining the incorporation of eClinical software solutions in these regions.
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eClinical Solutions Market Competitive Landscape
The global eClinical solutions market is immensely competitive. This is because the prominent market players are constantly competing to increase their presence in the market and capture the untapped market opportunities. These market leaders are also adopting various growth tactics like mergers & acquisitions, new product development, and collaborations to expand their organizations in the global market. These are also increasing the growth of the eClinical solutions market.
eClinical Solutions Market Top Player's Company Profiles
- Oracle Corporation
- Medidata Solutions, Inc.
- Parexel International Corporation
- Bioclinica, Inc.
- OpenClinica (US)
- DATATRAK International, Inc. (US)
- CRF Health (UK)
- Advarra (US)
- MedNet Solutions, Inc. (US)
- Bio-Optronics, Inc. (US)
- eClinicalWorks LLC (US)
- ArisGlobal LLC (US)
eClinical Solutions Market Recent Developments
- In December 2023, ObvioHealth introduced an innovative eCOA solution. This solution can integrate scientific and clinical services with advanced study design technology for better trial results.
- In June 2023, ICON plc launched their Digital Platform. It supports smooth incorporation of site, sponsor, and patient services with better data delivery. The platform can be customized for different therapeutic areas and study designs.
- In June 2023, Syneos Health partnered with uMotif Limited. The objective of the collaboration was to accelerate the pace of clinical trials, expediting the delivery of groundbreaking medications to patients more efficiently.
eClinical Solutions Key Market Trends
- Advancements in Data Management Tools: With the growing complexity and volume of data in clinical trials, there is a massive shift towards more advanced data management tools. These tools are designed to efficiently control diverse data sources, offering a robust structure for managing vast amounts of information. The incorporation of sophisticated data management solutions is vital for accomplishing timely and accurate trial outcomes, enabling researchers to make informed decisions quickly and effectively.
- Improving Data Security and Privacy: As clinical trials become more data-intensive, the significance of data security and privacy is huge. The market is applying efficient measures to ensure the security of patient data, complying with increasingly stringent regulatory requirements. Enhancing data security involves sophisticated encryption methods, secure data storage solutions, and comprehensive data governance frameworks. This trend is critical for maintaining trust and integrity within clinical trials.
eClinical Solutions Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global eClinical solutions market is growing exponentially due to the development of advanced and dependable eClinical solutions. Furthermore, the rising demand for data integration systems and better healthcare services are also propelling the growth of the market. The eClinical solutions market has immense potential owing to innovative concepts and expertise who demand new technological advancements for creating eClinical solutions. Increase in use of eClinical solutions techniques by researchers have also improved the eClinical solutions leading to the growth of the market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.18 Billion |
| Market size value in 2031 | USD 22.35 Billion |
| Growth Rate | 13.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on eClinical Solutions Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on eClinical Solutions Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the eClinical Solutions Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the eClinical Solutions Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the eClinical Solutions Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the eClinical Solutions Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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