eClinical Solutions Market Extensive research and development by Top Players BioClinica, CRF Health, DATATRAK International, eClinical Solutions

Market Overview:

eClinical solutions help improve the clinical process through data management and analysis. It allows users to integrate, manage, analyze, and standardize clinical and operational data with integrated advanced visualization and analytical capabilities. eClinical solutions also manage clinical technologies and expertise to facilitate the acceleration of the clinical development process. Moreover, eClinical solutions are used to manage clinical trials and clinical research. eClinical solutions/software also help maintain, manage, track, and record data/information. Clinical trial management system, clinical data management system, and randomization and trial supply management are various eClinical solutions. Moreover, eClinical solutions help researchers to efficiently organize, standardize, and manage their clinical research data and metadata during their research lifecycle.

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Key Players in This Report Include BioClinica Inc., CRF Health, DATATRAK International Inc., eClinical Solutions Inc., MaxisIT Inc., Medidata Solutions Inc., Merge Healthcare Inc., OmniComm Systems Inc., Oracle Co., and PAREXEL International Co.

Key Market Drivers:

Increasing number of clinical trials and growing R&D expenditure on drug development is expected to augment the growth of the eClinical solutions market during the forecast period. For instance, in February 2021, eClinical Solutions announced the launch of the elluminate clinical trial management system (CTMS). Built on the elluminate platform, which accelerates digitization and reduces clinical data review cycle times, elluminate CTMS provides one source of truth for clinical operations data for faster and more informed decision making.

Moreover, outbreak of COVID-19, increasing prevalence of chronic diseases, and high unmet medical needs are expected to boost the growth of the eClinical solutions market. For better management of the COVID-19 pandemic, countries around the world have been reaping the benefits of eClinical solutions. For instance, in May 2021, Tasmanian Government and Oracle Corporations partnered to use its health management system to manage its state-wide COVID-19 vaccination program. Tasmania was the first Australian jurisdiction to use the Oracle health management system for its vaccine rollout.

COVID-19 Impact Analysis:

The pandemic has created an inflection point for the eClinical solutions market. Most pharma and biopharma companies have focused their research and development efforts to help develop a vaccine against COVID-19. Moreover, both pharma and biopharma companies have invested significantly to utilize analytics to fight COVID-19. If virtual and remote working modes prove to be sustainable methods of conducting a trial, it can be a great opportunity for all eClinical solutions providers. eClinical Solutions develop a cloud-based data and analytics platform that automates several aspects of running a clinical trial. This in turn is expected to aid in the growth of the eClinical solutions market.

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Key Takeaways:

• The eClinical solutions market is expected to exhibit a CAGR of 11.2 % during the forecast period owing to the growing adoption of novel eClinical solutions in clinical research. For instance, in June 2020, Oracle Health Sciences launched a new holistic, unified cloud-based eClinical solution intended to bring new drugs to the market in a timely manner, while maintaining quality and safety.

• Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the facial essence market due to increase in government funding and grants to support clinical trials, increasing prevalence of chronic diseases, outbreak of COVID-19, and growing adoption of novel software solutions in clinical research.
For instance, in January 2021, Parexel International Corporation and Signify Health teamed up to provide customers with new solutions to enable access to a more diverse and traditionally underrepresented population for their clinical trials.

Moreover, in October 2020, the U.S. Food and Drug Administration (FDA) announced that it has awarded six new clinical trial research grants to principal investigators from academia and industry totaling over US$ 16 million over the next four years.

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