Seattle, WA -- (SBWIRE) -- 10/07/2019 -- eClinical Solutions Market, by Deployment (Web-based, Cloud-based, and Licensed Enterprise), by Product (Electronic Data Capture, Electronic Clinical Outcome Assessment, Clinical Data Management System, Clinical Trial Management System, Clinical Analytics Platform, Randomization and Trial Supply Management, Electronic Trial Master File, and Others), by End User (Pharmaceutical and Biopharmaceutical companies, Hospitals, Consulting Servicing Companies, Research Organizations, and Medical device Manufacturers), and by Region - Global Forecast to 2026

eClinical solutions are used to accelerate the process of the clinical development process through data management and analysis. It provides total utilization and transparency of the clinical and operational data by offering data management software and services which include electronic data capture (EDC), clinical reporting, clinical data repository platform, and data standardization and management. eClinical solutions offer user to manage, analyze, integrate and standardize all their clinical and operational data with the help of integrated advanced analytical and visualization capabilities. Software such as clinical trial management system (CTMS) offer users to comply with government rules and regulations, investigator management, patient management, budgeting, and adverse event reporting system.

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The global eClinical solutions market was valued at US$ 3.5 billion in 2017 and is expected to witness a robust CAGR of 11.2% over the forecast period (2018 – 2026).

Ongoing research and development in the clinical field by biotechnology and pharmaceutical industries is projected to fuel the growth of the eClinical solution market

Rising adoption of the various software application of clinical solutions is the prime factor fueling market growth. Moreover, growing government funding and rising R &D programs by biopharma and pharmaceutical organizations are expected to produce new products in the years to come, which will further, propel the market growth. According to the U.S. National Library of Medicine, in the last 20 years, there has been a significant increase in the several new clinical trials registered every year.

The rising number of R &D programs has compelled the companies to outsource R&D activities from other cheaper avenues. The independent service providers such as CROs are committed to offering high quality and timely data, by following regulatory guidelines and post-approval regulatory requirements, which in turn, reduce the overall cost. For instance, in 2011, Pfizer agreed with Parexel and Icon. Under this agreement, Parexel provided Pfizer with a range of clinical development services for five years.

Growing private and public funding to support clinical trials

Pharmaceutical companies and government funding agencies are increasingly investing in various clinical trials. According to the Journal of the American Medical Association 2015, the number of clinical trials sponsored by companies was 6,550 and 1,048 by the NIH. In the U.K., the government funds health-related research through organizations such as the National Institute for Health Research (NIHR) and the Medical Research Council (MRC). They also help to coordinate cancer research nationally through the National Cancer Research Institute (NCRI). NCI funds around half of all cancer trials in the U.S. According to Research America, in the U.S., investment in health and medical R&D grew by 13.3% from 2013 to 2015. On the other hand, high cost of installation, data privacy issues, lack of skilled professionals, and low awareness regarding the software are expected to restrict market growth.

Key players operating in the eClinical solutions market 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.

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Detailed Segmentation:

Global eClinical Solutions Market, By Deployment Type:
Web-based
Cloud-based
Licensed Enterprise

Global eClinical Solutions Market, By Product Type:
Electronic Data Capture
Electronic Clinical Outcome Assessment
Clinical Data Management System
Clinical Trial Management System
Clinical Analytics Platform
Randomization and Trial Supply Management
Electronic Trial Master File
Others

Global eClinical Solutions Market, By End User:
Pharmaceutical and Biopharmaceutical Companies
Hospitals
Consulting Servicing Companies
Research Organizations
Medical Device Manufacturers

Global eClinical Solutions Market, By Region:
North America
Europe
Asia Pacific
Latin America
Middle East
Africa

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