The eClinical Solutions Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s eClinical Solutions Global Market Report 2024, The eclinical solutions market size has grown rapidly in recent years. It will grow from $7.59 billion in 2023 to $8.47 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to growth in healthcare digitalization, electronic health records (ehr), increasing regulatory compliance, increased need for efficiency and productivity, and increased healthcare integration.
The eclinical solutions market size is expected to see rapid growth in the next few years. It will grow to $13.48 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to increasing interoperability and data exchange, telehealth and remote care, value-based care models, growing demand for population health management, and increasing adoption of precision medicine. Major trends in the forecast period include artificial intelligence (ai) in healthcare, technological advancements, innovative solutions, strategic collaborations, and healthcare integration solutions
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An increase in research and development activities is expected to propel the growth of the eclinical solutions market going forward. Research and development activities refer to activities that companies undertake to innovate and introduce new clinical products and services. Electronic clinical outcome assessment solutions help research and development activities by capturing outcomes data electronically in clinical trials. For instance, according to the Research and Development Survey 2021 conducted by Statistics NZ, a New Zealand-based public service department, the research and development (R&D) expenditure in the business sector reached $2.8 billion in 2021. This represents a 5% increase from 2020 and an 18% increase from 2019. Therefore, an increase in research and development activities is driving the eclinical solutions market during forecast period.
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The eclinical solutions market covered in this report is segmented –
1) 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), Clinical Data Integration Platforms, Electronic Clinical Outcome Assessment (eCOA), Safety Solutions, Electronic Trial Master File (eTMF)
2) By Development Phase: Phase I, Phase II, Phase III, Phase IV
3) By Delivery Mode: Web-Based and Cloud-Based, Enterprise-Based
4) By End User: Pharmaceutical and Biopharmaceutical Companies, Contract Research Organizations, Consulting Service Companies, Medical Device Manufacturers, Hospitals, Academic Research Institutions
Technological advancements have emerged as the key trend gaining popularity in the eClinical solutions market. Key players operating in the eClinical solutions sector are focusing on the use of advanced technologies to meet consumer demand. For instance, in July 2021, eClinical Solutions LLC, an India-based provider of cloud-based enterprise software and software-driven clinical data services, released the Elluminate Clinical Data Cloud, based on cloud computing and real-time data analysis technologies. This has unique capabilities that help to improve the automation of both clinical and operational data streams across the platform, and it’s useful for automating the clinical operations data pipeline for speedier decision making.
The eclinical solutions market report table of contents includes:
1. Executive Summary
2. eClinical Solutions Market Characteristics
3. eClinical Solutions Market Trends And Strategies
4. eClinical Solutions Market – Macro Economic Scenario
5. Global eClinical Solutions Market Size and Growth
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31. Global eClinical Solutions Market Competitive Benchmarking
32. Global eClinical Solutions Market Competitive Dashboard
33. Key Mergers And Acquisitions In The eClinical Solutions Market
34. eClinical Solutions Market Future Outlook and Potential Analysis
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