Revolutionizing Healthcare: E-Clinical Solutions Market Predicted to Attain USD 20.47 Billion by 2030 with a Steady CAGR of 7.58% – Industry Size, Share, Key Drivers, Demand, Future Growth and Opportunity Analysis

NEW YORK, July 26, 2023 (GLOBE NEWSWIRE) — As per Zion Market Research study, the global E-Clinical Solutions market size was worth around USD 7.9 billion in 2022 and is predicted to grow to around USD 20.47 billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.58% between 2023 and 2030.

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E-Clinical Solutions Market: Overview

Clinical research is a subset of the medical field. It involves researching and determining the efficacy of healthcare devices, medications, and diagnostic instruments. All of these products must undertake clinical trials and research, making clinical research one of the largest investments and activities carried out by companies in the pharmaceutical, healthcare, and medical device manufacturing industries.

Upon obtaining the necessary approvals from regional agencies that regulate these products, the products can be made commercially available if the results of the trial are favourable. Clinical trials and research are not only expensive, but also time- and labour-intensive, posing a significant challenge for market participants. E-clinical solutions are a collection of technologies designed to streamline all clinical trial processes. It uses sophisticated systems to optimise, by integrating and automating, a number of clinical research-related aspects.

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Key Industry Insights & Findings of the E-Clinical Solutions Market Reports:

• As per the analysis, the E-Clinical Solutions market share is likely to grow above a CAGR of around 7.58% between 2023 and 2030.
• The E-Clinical Solutions market size was worth around USD 7.9 billion in 2022 and is estimated to hit approximately USD 20.47 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• The E-clinical solutions market is projected to grow at a significant rate due to the growing complexities in drug development procedures
• Based on end-user segmentation, CROs were predicted to show maximum market share in the year 2022
• Based on product segmentation, Clinical Trial Management Systems (CTMS) were the leading product in 2022
• On the basis of region, North America was the leading revenue generator in 2022.

Zion Market Research published the latest report titled “E-Clinical Solutions Market By End-User (Medical Device Manufacturers, CROs, Hospitals / Healthcare Providers, Pharma & Biotech Organizations, Academic Institutes, And Others), By Development Phase (Phase IV, Phase III, Phase II, And Phase I), By Delivery Mode (Licensed Enterprise, Web-Hosted, And Others), By Product (Clinical Analytics Platforms, Electronic Data Capture (EDC) And Clinical Data Management Systems (CDMS), Electronic Trial Master File (ETMF), Electronic Clinical Outcome Assessment (ECOA), Randomization And Trial Supply Management (RTSM), Clinical Trial Management Systems (CTMS), Safety Solutions, And Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” into their research database.

E-Clinical Solutions Market: Growth Drivers & Restraints

• Growing complexities in drug development procedures to drive market growth

The global E-clinical solutions market is projected to grow due to the increasing complexities in drug development procedures. Regional governments and healthcare regulatory agencies have become more stringent about drug approval protocols for commercial use. Pharmaceutical and medical device manufacturers have adopted an agile development strategy in which sub-segments, such as clinical teams, work independently to improve output.

As the demand for higher-quality patient care has increased over the years, these businesses are under a great deal of pressure to ensure that they are able to meet evolving consumer expectations. In addition, drug developers are searching for asset optimization and risk management strategies.

• High implementation cost to restrict market expansion

E-clinical solutions can be expensive, particularly for organisations with limited resources and funds. Moreover, the associated cost is not limited to product purchase alone, but also includes the time-consuming and cost-adding integration of new systems into existing technologies. Phase IV clinical trials and research can cost between USD 50,000 and USD 150 million, and smaller companies may not be able to afford additional technologies such as E-clinical solutions. Although it is possible to leverage the benefits of these solutions using software-as-a-service (SaaS) models, drug developers would be forced to rely significantly on third-party services and have less control over their systems.

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E-Clinical Solutions Market: Segmentation

The global E-clinical solutions market is segmented based on end-user, development phase, delivery mode, product, and region.

Based on end-user, the global market divisions are medical device manufacturers, CROs, hospitals / healthcare providers, pharma & biotech organizations, academic institutes, and others. The highest CAGR was observed in the contract research organizations (CROs) segment in 2022 with a contribution across 36.9% of the market share. During the forecast period, it is likely to grow at a CAGR of 14.1% as many companies are showing an inclination toward effective cost management.

Based on the development phase, the E-clinical solutions industry is divided into phase IV, phase III, phase II, and phase I. In 2022, around 51.02% of the market share was led by the phase III segment.

Based on delivery mode, the global market is divided into licensed enterprises, web-hosted, and others. In 2022, the web-hosted segment dominated industry growth with a market share of over 73%.

Based on product, the E-clinical solutions industry segments are clinical analytics platforms, electronic data capture (EDC), clinical data management system (CDMS), electronic trial master file (eTMF), electronic clinical outcome assessment (eCOA), randomization and trial supply management (RTSM), clinical trial management systems (CTMS), safety solutions, and others.

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List of Key Players in E-Clinical Solutions Market:

Some of the main players in the global E-Clinical Solutions market include;

• Oracle Corporation
• Medidata Solutions Inc.
• ArisGlobal LLC
• MedNet Solutions
• DSG Inc.
• Parexel International Corporation
• IBM Corporation
• Bioclinica
• CRF Health
• Veeva Systems Inc.
• Datatrak International Inc.
• Bio-Optronics Inc.
• Forte Research Systems Inc.
• ERT Clinical
• eClinical Solutions LLC
• OmniComm Systems Inc.
• OpenClinica LLC
• PRA Health Sciences Inc.
• Medable Inc.
• Merge Healthcare

Key questions answered in this report:

• What is the growth rate forecast and market size for E-Clinical Solutions Market?
• What are the key driving factors propelling the E-Clinical Solutions Market forward?
• What are the most important companies in the E-Clinical Solutions Market Industry?
• What segments does the E-Clinical Solutions Market cover?
• How can I receive a free copy of the E-Clinical Solutions Market sample report and company profiles?

Report Scope:

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Regional Dominance:

• North America will hold more than 50% of the market share

The global market for E-clinical solutions is anticipated to be led by North America, which is anticipated to account for close to 51.1% of the global revenue, as a result of rising R&D expenditures and product launches. Recently, the U.S. government has announced a number of enticing offers, including grants, for the segment’s participants, which could aid in their continued expansion. In October 2021, the Food and Drug Administration (FDA) of the United States awarded eleven grants to be used in clinical trials for the development of treatments for rare diseases. The total value of grants was approximately USD 25 million.

In addition, the increasing number of patients diagnosed with life-threatening conditions and the presence of key actors offering highly innovative E-solutions services will contribute to North America’s continued expansion. Medidata’s November 2022 introduction of the Rave companion is one example. It is the first scalable solution that automates electronic health record (EHR) insertion into Rave electronic data capture (EDC). In addition, in February 2021, US-based companies NeoGenomics and Parexel announced a partnership that will aid in the improvement of precision medicine applications in oncology clinical trials.

Global E-Clinical Solutions Market is segmented as follows:

By End-User

• Medical Device Manufacturers
• CROs
• Hospitals / Healthcare Providers
• Pharma & Biotech Organizations
• Academic Institutes
• Others

By Development Phase

• Phase IV
• Phase III
• Phase II
• Phase I

By Delivery Mode

• Licensed Enterprise
• Web-Hosted
• Others

By Product

• Clinical Analytics Platforms
• Electronic Data Capture (EDC)
• Clinical Data Management Systems (CDMS)
• Electronic Trial Master File (eTMF)
• Electronic Clinical Outcome Assessment (eCOA)
• Randomization and Trial Supply Management (RTSM)
• Clinical Trial Management Systems (CTMS)
• Safety Solutions
• Others

By Region

• North America
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
  • Rest of Southeast Asia
• The Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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