The recent research report of ‘Global eClinical Solutions Market’ offers a complete analysis of the industry sphere during 2022-2028. It highlights the growth opportunities and key trends that are augmenting the market development.
Pune, India, May 19, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, that global eclinical solutions market size is anticipated to record 13.2% CAGR during 2022-2028 to amass a valuation of USD 11659 million by the year 2028.
Moving ahead, the document provides full fledged insights of the COVID-19 crisis, to convey a better understanding of this business landscape to all stakeholders. It then continues with the growth potential of various market segments present in the industry, in consort with regional information, and competitive background of this business sphere.
The industry is primarily driven by rising number of clinical trials in the pharmaceutical and biotechnology industries, shifting focus towards R&D activities, and government grants to substantiate clinical trials.
For the unversed, eclinical systems enable customers to integrate, standardize, manage, and analyze both clinical and operational data via analytical capabilities and enhanced visualization.
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Lowering cost of operation and large patient pool are expected to bolster the market trends during the forecast years.
However, high cost of implementation, along with a scarcity of trained personnel could pose as major impediments to the market expansion in the coming years.
Notably, the COVID-19 pandemic has positively affected the market scenario in the recent past, because of shifting trend of working in a digitalized manner. With virtual & remote working modes, conducting clinical trials will be sustainable, providing lucrative opportunities for the eclinical solutions providers.
Market segment overview:
Based on product terrain, worldwide eclinical solutions marketplace is divided into remote patient monitoring, electronic sourcing & clinical data management systems, and clinical trial operations management.
In terms of phase, the industry is branched into phase IV, phase III, phase II, and Phase I. On the basis of end user, the market is classified into pharmaceutical & biotechnology companies, academia & research institutions, contract research organization (CROs), hospitals, and others.
Asia pacific industry is slated to grow significantly over the analysis timeframe, due to growing prevalence of chronic diseases, readily available low-cost outsourcing services, and a large & genetically diverse population in the region.
According to a survey, China conducted over 1,000 clinical trials in 2019, compared to 339 trials in 2015. Each year, phase I trials top the list, with 486 studies in 2019. In the next 5 to 10 years, funding support from governments, business companies, and other non-profit organizations in the region is projected to aid market expansion.
Meanwhile, North America eclinical solutions industry size is reckoned to grow through 2028, owing to supportive government policies for clinical trials, constant innovations & launches, and presence of major players & profitable partnerships in the region.
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Veeva Systems Inc., PAREXEL International Corporation, Oracle Corporation, Medidata Solutions Inc., Laboratory Corporation of America Holdings, IQVIA Holdings Inc., ICON plc, DataTRAK International Inc., Clario, and ArisGlobal LLC are the major players in global eclinical solutions marketplace.
Global eClinical Solutions Market, by Product (Revenue, USD, 2018-2028)
Remote Patient Monitoring (RPM)
Electronic Sourcing & Clinical Data Management Systems (CDMS)
Clinical Trial Operations Management
Global eClinical Solutions Market, by Phase (Revenue, USD, 2018-2028)
Global eClinical Solutions Market, by End-User (Revenue, USD, 2018-2028)
Pharmaceutical & Biotechnology Companies
Academia & Research Institutions
Contract Research Organizations (CROs)
Global eClinical Solutions Market, Geographical Fragmentation (Revenue, USD, 2018-2028)
Rest of the World (RoW)
Global eClinical Solutions Market, Company Profiles (Revenue, USD, 2018-2028)
Veeva Systems Inc.
PAREXEL International Corporation
Medidata Solutions Inc.
Laboratory Corporation of America Holdings
IQVIA Holdings Inc.
DataTRAK International Inc.
Table of Content:
PART 1. INTRODUCTION
Objectives of the study
Years considered for the report
Key target audience
PART 2. METHODOLOGY
PART 3. EXECUTIVE SUMMARY
PART 4. MARKET OVERVIEW
Impact of COVID-19 pandemic
PART 5. MARKET BREAKDOWN BY PRODUCT
Clinical trial operations management
Electronic sourcing & clinical data management systems (CDMS)
Remote patient monitoring (RPM)
PART 6. MARKET BREAKDOWN BY PHASE
PART 7. MARKET BREAKDOWN BY END USER
Contract research organization (CROs)
Academia and research institutions
Pharmaceutical & biotechnology companies
PART 8. MARKET BREAKDOWN BY REGION
Rest of the World (ROW)
PART 9. KEY COMPANIES
eClinical solutions Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2028
The global eClinical solutions market is expected to grow at a significant rate through 2028 driven by increasing investment in clinical research. Additionally, robust adoption of new technologies is set to further propel industry expansion over the forecast timeline. Recently, leading companies have been collaborating with global businesses to conduct clinical trials on a larger scale. As a result, surging focus on the development of novel products has been favorable for the growth of the eClinical solutions market. In the regional landscape, the Latin America eClinical solutions industry recorded a market share of more than 8.6% in 2021 and is speculated to witness notable growth by 2028. Meanwhile, the Middle East & Africa eClinical solutions market is poised to experience steady growth at a rate of around 12.6% through the forecast timeframe. In terms of end-use, the sector is categorized into medical device companies, contract research organizations (CROs), hospitals & clinics, pharma/biotech companies, and others. The hospitals & clinics sub-segment is anticipated to be valued at about USD 2,065.6 million by 2028.
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