Global E-Clinical Solutions Market to Witness 11.9% CAGR During 2018 – 2024, Attaining the Market Size of USD 10.4 billion by 2024

The global e-clinical solutions market is predicted to grow at 11.9% CAGR during the forecast period with the market size reaching USD 10.4 billion by 2024.

The global e-clinical solutions market is driven by the factors such as intensifying number of clinical trials, mounting implementation of software solution during clinical trials, increasing need for improved data standardization, the mounting requirement for analyzing and tracking data and intensifying research, and development expenditure by pharmaceutical and biotechnology companies.

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Among all types, electronic data capture and clinical data management system hold the largest share in the e-clinical solutions market, globally. The electronic clinical outcome assessment (eCOA) solutions segment is witnessing the highest growth in the market globally, owing to mounting need for electronic diaries in clinical studies, and the usage of mobile and digital technologies.

Based on end user the e-clinical solutions market is segmented into pharmaceutical and biopharmaceutical companies, contract research organizations, consulting services companies, medical device manufacturers, hospitals, and academic research institute. Of all the end users, contract research organizations are expected to grow at the fastest rate during the forecast period, globally. Mounting clinical trial outsourcing, stringent regulations to ensure patient safety, and mounting demand for analyzing and tracking data are some of the factors facilitating the growth of the contract research organizations segment in the e-clinical solutions market.

North America accounted for the major share in the e-clinical solutions industry in 2017, globally as the players in the region are continuously investing spends in research and development by pharmaceutical and biotechnology companies.

Asia-Pacific is observed to witness the fastest growth in the e-clinical solutions market, owing to mounting government sponsoring to strengthen clinical trials, existence of less strict regulatory strategies, and less operational cost for clinical trials.

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Key players in the e-clinical solutions industry are investing in the development of advanced, which is strengthening their position in the market., Oracle Corporation, PAREXEL International Corporation Medidata Solutions, Inc., DATATRAK International, Inc., eClinical Solutions, Inc., Bio-Optronics, Inc., ERT, MaxisIT Inc., and OmniComm Systems, Inc. are some of the key players offering e-clinical solutions.

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