eClinical Solutions Market by 2026 - Global Trends, Share Analysis, Leading Players, Business Opportunities

The global eClinical Solutions market is projected to reach USD 15.4 billion by 2026, at a CAGR of 13.3%.

Increasing operational costs and regulatory requirements associated with clinical research studies;

The medical research and novel drug therapy industry is witnessing a shift from traditional drug-based treatment towards personalized or gene-based disease management. Government reimbursement bodies and private insurers & and payers often demand better therapeutic value and higher efficacy for novel drugs as compared to existing alternative therapies or medications. Moreover, these payer regulate standard pricing of novel medications, thereby lowering profit margins for manufacturing companies.

The eClinical solutions industry is focusing on the enhancement & commercialization of software solutions that can facilitate early execution and completion of clinical trials in a cost-effective manner. Major pharmaceutical and biotechnology companies are adopting new business models to reduce their overall research cost, which is expected to drive the market demand for advanced and innovative eClinical solutions.

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Cloud-based (SaaS) segment is projected to record the highest CAGR

Based on delivery mode, the global eClinical solutions market is segmented into web-hosted (on-demand), licensed enterprise (on-premises), and cloud-based (SaaS) solutions. In 2020, the web-hosted (on-demand) segment commanded the largest share of the global eClinical solutions market. The increasing number of cloud-based clinical trial solutions in the market and the rising adoption of these solutions in clinical research studies (owing to advantages such as ease of integration, quicker deployment, and flexible scalability with a fixed monthly fee) are fueling the growth of the cloud-based eClinical solutions market.

Phase III clinical trials is expected to register the highest growth during the forecast period

Based on clinical trial phase, the eClinical solutions market has been segmented into phase I, phase II, phase III, and phase IV trials. The phase III clinical trials segment accounted for the largest share of the eClinical solutions market in 2020. The large share of this segment is attributed to the high demand for eClinical solutions for phase III trials due to the involvement of thousands of patients in this phase

CROs segment is estimated to record the highest CAGR in the forecast period.

Based on end user, the global eClinical solutions market is segmented into pharmaceutical and biopharmaceutical companies, contract research organizations, consulting service companies, medical device manufacturers, hospitals, and academic research institutions. The pharmaceutical and biopharmaceutical companies segment accounted for the largest share of the eClinical solutions market in 2020. However, the CROs segment is estimated to record the highest CAGR (15.5%) in the next five years. The increasing number of CROs in developed as well as developing countries, and the rising instances of clinical trial outsourcing to specialized clinical research organizations are responsible for the high growth rate of this segment.

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North America To Witness Significant Growth From 2021 To 2026

In 2020, North America commanded the largest share of the eClinical solutions market. Increasing government grants to support clinical trials, continuous product development and new product launches by eClinical solution vendors, and growth in the number of partnerships for new drug development are further stimulating the demand for eClinical solutions in this region.

Some of the prominent players in this market are Oracle Corporation (US), Medidata Solutions, Inc. (US), Parexel International Corporation (US), BioClinica, Inc. (US), Signant Health (US), Datatrak International, Inc. (US), ERT (US), eClinical Solutions, Inc. (US), MaxisIT Inc. (US), Bio-Optronics, Inc. (US), Merge Healthcare Incorporated (US), and OmniComm Systems, Inc. (US)

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