About eClinical Solutions
eClinical Solutions is a company focused on helping life sciences organizations, like pharmaceutical and biotechnology companies, streamline and accelerate their clinical development processes. Over the past few decades, clinical trials have become the bedrock of healthcare, medical and pharmaceutical studies. In addition to this, these clinical studies require significant operational costs. Thus regulatory requirements associated with clinical research studies are being assisted by the governments. They have also granted the supports to clinical trials, Furthermore, increasing R&D expenditures bu the pharmaceutical companies will generate significant opportunities over the forecasted period. However, the lack of awareness from the underdeveloped countries might stagnate the demand for eClinical solutions.
Attributes | Details |
---|
Study Period | 2018-2029 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 12.12% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Players having a strong hold in the market are Oracle Corporation, Medidata Solutions, PAREXEL, BioClinica, and DATATRAK. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global eClinical Solutions market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Oracle Corporation (United States), Medidata Solutions (United States), PAREXEL International Corporation (United States), BioClinica (United States), DATATRAK International (United States), CRF Health (United States), ERT Clinical (United States), Merge Healthcare (United States) and OmniComm Systems (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are eClinical Solutions (India), Merge Health Incorporated (United States) and ERT Clinical (United States).
Segmentation Overview
AMA Research has segmented the market of Global eClinical Solutions market by Type (Web-hosted (On-demand), Licensed Enterprise (On-premise) and Cloud-based (SaaS)), Application (Pharmaceutical and Biopharmaceutical Companies, Contract Research Organizations and Consulting Service Companies) and Region.
On the basis of geography, the market of eClinical Solutions has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North Amercia region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement.
Influencing Trend:
Increasing Adoption of Clinical Data Repository Systems Integrated with eClinical Solutions and Introduction to Onsite and Offsite Training Which includes Minimal Healthcare Practices
Market Growth Drivers:
Offers Controlled and Organized with Improved Reporting and Analysis Capabilities and Growing Operational Cost and R&D Investments in Healthcare Studies
Challenges:
Skilled Workforce is required for Development and Integration Complexities with the Existing Systems
Restraints:
Increasing Prevalence of Lead to False Claims, Noticeable Favoritism and Many Other Concerns and Continues Technological Advancements Required Significant Post Purchase Developments
Opportunities:
Introduction to IoT enabled and Artificially Intelligent eClinical Solutions and Favorable Government Regulations on Developing R7D Systems in Healthcare
Market Leaders and their expansionary development strategies
In November 2023, Oracle and Accenture Collaborated to provide cloud-based eClinical solutions for clinical trials, leveraging Oracle's Health Sciences Cloud and Accenture's life sciences expertise.
In October 2023, Real-time Analytics and Reporting Tools a New analytics and reporting tools were launched to provide real-time insights into clinical trial data. This allowed sponsors and CROs to make data-driven decisions and optimize trial performance throughout the research process.
Key Target Audience
eClinical Solutions Providers, eClinical Solutions Vendors, Healthcare Technology Developers, Healthcare Industry Associations, Government Agencies, Research and Development Institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.