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eClinical Solutions Market to Witness Lucrative Growth Potential by 2024, North America Dominates the Regional Landscape

Author : Ronak Bora | Published Date : 2019-04-02 

A comprehensive research study on eClinical solutions market introduced by Global Market Insights, Inc. provides insights into the market size and growth trends of this industry over the forecast timeline. The study evaluates key aspects of market in terms of the demand landscape, driving factors and growth strategies adopted by market players.

There is a rising demand for clinical trials by pharma and biopharma companies, which boost the industry demand. They provide services for a large customer base at low operating costs, which further drive the eClinical solutions market. EClinical solutions also assist in tracking, organizing, and executing this data from different geographical locations and also accelerate the process of clinical development. They monitor the data at an individual patient level or cross trial level, fueling the industry growth.

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The end-user segment includes contract research organizations, medical device manufacturers, consulting service companies, hospitals, pharmaceutical companies, and academic research organizations. The pharmaceutical industry is leading the eClinical solutions market as it assists in carrying out day-to-day operations such as conducting study feasibility, providing a centralized place to carry out trial related information, and improved clinical data management by equipping staff and data administers.

eClinical solutions market can be segmented on the basis of product, delivery mode, and end user. The product can be sub-segmented into clinical data integration platforms, safety solution, Randomization and Trial Supply Management (RTSM), eCOA, Electronic Trial Master Files (ETMF), Clinical Analytics Platform, Electronic Data Capture (EDC,) and Clinical Data Management System (CDMS). The EDC and CDMS are leading the eClinical solutions market and electronics Clinical Outcome Assessment (eCOA) segment has the highest growth rate.

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Based on delivery mode, the eClinical solutions market is segmented into web-hosted (on demand), licensed enterprise (on-premise), and cloud-based (SaaS). The cloud-based solutions are growing at a fast rate owing to advantages such as real-time study management, access to data from any device, standard and ad-hoc reporting, and shift from time-based to the activity-based unit of measurement.

North America dominates the eClinical solutions market owing to the rise in the number of clinical trials in this region. Technological advancements, huge funding in R&D activities, rising government grants for clinical trials, and an increase in the lifestyle-related diseases are factors driving the industry growth in this region. Continuous product development and new product launches by eClinical solution vendors also result in a rise of the eClinical solutions market in this region.

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The main players operating in the eClinical solutions market include Oracle Corporation, ERT, Parexel International Corporation, BioClinica, CRF Health, eClinical Solutions, OmniComm Systems, Datatrak International, Merge Health Incorporated, and PHT Corporation.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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