The global eClinical solutions market was valued at USD 3.3 billion in 2015. The increasing demand for software solutions for clinical trials by the pharma and biopharma companies, expanding research and development, increase in the government grants to substantiate the clinical trials, and the rise in the number of customers for eClinical solutions are expected to boost the market during the review period. Moreover, factors such as the presence of a large population, growing customer base, low operating costs, and shift of resources from AMCs to CROs are propelling the growth of this market, especially in the Asia Pacific countries. The emerging markets, including Korea, China, Taiwan, and India, have become pleasing destinations for the outsourcing of clinical trials due to the presence of a large population& low service costs.
However, factors such as the high implementation cost, lack of awareness of clinical data sciences software in the research community, and scarcity of skilled research professionals are expected to hinder market growth.
Global eClinical solutions market, 2013 - 2024 (USD Million)
The eClinical solutions market is segmented on the basis of product (clinical analytics platforms, Electronic Clinical Outcome Assessment (ECOA), Electronic Data Capture (EDC),Clinical Data Management Systems (CDMS), clinical data integration platforms, safety solutions, Clinical Trial Management Systems (CTMS), Randomization and Trial Supply Management (RTSM), and electronic Trial Master File (eTMF)),delivery mode (web-hosted, licensed enterprise, and cloud-based), clinical trial phases (phase I, phase II, phase III, and phase IV), and end-user application (consulting service companies, medical device manufacturers, hospitals, contract research organizations, and pharmaceutical & biopharmaceutical companies).
As of 2016, the industry is estimated to be led by the EDC and CDMS segments, whereas the eCOA segment is anticipated to witness the highest growth rate during the forecast period.
On the basis of geography, the eClinical solutions industry is categorized into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. As of 2015, North America was estimated to dominate the market followed by Europe. One of the key factors attributing to the growth of the North American market is the increasing number of clinical trials being conducted in the region.
Some other factors influencing the growth of the market are intensive R&D activities resulting in the development and launch of new products, increasing government grants for clinical trials, and the rising prevalence of lifestyle diseases. In terms of growth rate, Asia Pacific is anticipated to witness a rapid growth in the global market. The increasing participation of emerging economies in the clinical trials is expected to fuel the growth of the market in the near future.
Competitive Market Share Insights
The key players in the market include Oracle Corporation, Parexel International Corporation, Medidata Solution, Inc., BioClinica, DataTrak International, Inc., CRF Health, ERT, eClinical Solutions, Merge Health Incorporated, and OmniComm Systems, Inc. In order to attain a competitive edge in the industry, the major players are actively involved in organic as well inorganic growth strategies. Agreements, collaborations, partnerships, and new product launches are some of the key strategies, which are implemented by the market players.
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