Press release
eClinical Solutions Market To Perceive Exponential Growth at 11% CAGR along with Merge Healthcare Inc, CRF Health, Bioclinica Inc, Medidata Solutions Inc, eClinical Solutions Inc., etc
eClinical Solutions Market
Key Players
Leading players profiled in the eClinical Solution Market include ERT Clinical, Maxisit Inc, Omnicomm Systems Inc, Datatrak International, Merge Healthcare Inc, CRF Health, Bioclinica Inc, Medidata Solutions Inc, eClinical Solutions Inc, Parexel International Corporation and Oracle Corporation.
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eClinical Solutions Market - Overview
The Global eClinical Solution Market is expected to register an exceptional growth at an admirable 11% CAGR over the predicted years (2018-2022). eClinical solutions are used for performing electronic data capturing as well as processing through automation. It offers customized data management solutions and services including analytical capabilities, data standardization, clinical reporting, data management and EDC.
There are many factors that is fueling the growth of the eClinical Solution Market. The different market trends and factors in this market according to an analysis performed by Market Research Future (MRFR) include rising regulatory needs associated to clinical research studies, rising operational costs, increasing acceptance of software solutions while performing clinical trials, rise in research and development expenditure, increase in the number of clinical trials and increasing support for clinical trials from the government through funding and grants. On the contrary factors such as scarcity of skilled research professionals, concern for patient data privacy, high operational costs related to e-clinical solutions and lack of high-speed internet facilities are likely to constraint the growth of the eClinical Solution Market.
Competitive Analysis
The eClinical Solution Market is price-sensitive, growing and highly competitive owing to rising adoption of mid-sized and smaller sponsors. The firm concentration is likely to boost up in the emerging markets. The companies are immersed dynamically in partnerships and collaborations for building innovative approach to provide advanced tools for managing clinical trials and drug studies. The majority of the collaborations and partnerships are focused on streamlining and accelerating the clinical trial data collection (CTDC) and management process. This ensures standardizing processes and regulatory compliances to offer services to pharmaceutical companies and hospitals and augmenting business intelligence. Hence the rising number of partnerships and collaborations is a key trend in the global eClinical Solution Market.
Nov 2018- Renowned software provider of service solution for clinical trials, Medidata has joined hands with one of the biggest biotech companies in China, Hengrui Pharma to offer innovative therapies and quicken global drug research. This expansion will help in expanding drug therapies to worldwide patients.
In November 2018, Medidata, a leading provider of software as a service solution for clinical trials, announced a partnership with Hengrui Pharma, one of China's largest biotech companies, to deliver innovative therapies and accelerate global drug research. Hengrui has adopted the Medidata cloud platform clinical trial management system which would support Hengrui to expand its drug therapies to patients around the world.
In September 2018, Veeva Systems, a provider of cloud-based solutions for the global life sciences industry, announced the launch of an advanced cloud-based clinical data management application to streamline and accelerate clinical study execution. The application can single-handedly manage all trial data and also includes Vault CTMS, Vault eTMF, and Vault Study Startup which helps unify all operations.
April 03, 2018 – MedNet Solutions (US), a leading cloud-based eClinical technology company launched its latest eClinical solution - iMedNet, a proven SaaS (Software-as-a-Service) clinical research technology platform that delivers an entire suite of eClinical tools to support clinical trial thoroughly (from start to finish).
February 9, 2018 - Oracle Corporation (US), technology giant launched its new Cloud-Based eClinical Solution - Clinical One Platform. The solution allows unified clinical development operations and information in a single environment with shared functions along with an easy-to-use interface for sites, clinical coordinators, and their counterparts.
Segmentation
The Global eClinical solution market has been segmented based product, delivery mode, and end-users.
Product-wise segmentation of the global eClinical solution market includes clinical data management systems (CDMS), randomization & trial supply management systems (RTMS), clinical analytics platform, electronic clinical outcome assessment (ECOA), clinical trial management systems (CTMS), clinical data integration platforms, safety solutions and electronic trial master files (ETMF), and electronic data capture (EDC).
By delivery mode, the global eClinical solution market has been segmented into web-hosted (on demand), licensed enterprise (on-premise) and cloud-based (SaaS).
By end users, the global eClinical solution market has been segmented into academic research organizations, consulting service companies, medical device manufacturers, hospitals, contract research organizations, and pharmaceutical companies.
eClinical Solution Market – Regional Analysis
The eClinical solutions market is spanned across the regions of the Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas is the largest market for eClinical solutions driven by a rise in a number of clinical trials in the region, increasing financial support from the government and presence of major players in the region.
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Europe too is a significant market. High investment in R&D activities and the development of emerging economies which hold strong growth potential propel the growth of the eClinical solution market in Europe.
Asia Pacific market for eClinical solutions is expected to grow at the fastest rate over the forecast period. Increasing funding from the government to support clinical research and growth in a number of outsourcing of clinical trials in the developing economies of Asia Pacific boost the growth of the market. The Middle East & Africa market is expected to exhibit the least growth over the forecast period.
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