eClinical Solutions Market Size, Share & Trends Report

eClinical Solutions Market Size, Share & Trends Analysis Report By Product (Clinical Trial Management, Clinical Analytics Platforms), By Delivery Mode (Web & Cloud Based, On-premise), By Development Phase, By End-use, By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: 978-1-68038-874-9
  • Number of Pages: 190
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2022
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the eclinical solutions market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for eclinical solutions market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of eclinical solutions market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

eClinical Solutions Market Categorization:

The eclinical solutions market was categorized into five segments, namely product (Electronic Data Capture and Clinical Data Management Systems, Clinical Trial Management Systems, Clinical Analytics Platforms, Randomization and Trial Supply Management, Clinical Data Integration Platforms, Electronic Clinical Outcome Assessment, Safety Solutions, Electronic Trial Master File, Electronic Consent), delivery mode (Cloud and Web Based, On-Premise), development phase (Phase I, Phase II, Phase III, Phase IV), end-use (Hospitals/Healthcare providers, Contract Research, Organizations, Academic Institutes, Pharma & Biotech Organizations, Medical Device Manufacturers), and region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The eclinical solutions market was segmented into product, delivery mode, development phase, end-use and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The eclinical solutions market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into thirty-four countries, namely, the U.S.; Canada; Mexico; the UK.; Germany; France; Italy; Spain; Netherlands; Sweden; Denmark; Japan; China; India; South Korea; Australia; New Zealand; Taiwan; Hong Kong; Singapore; Thailand; Vietnam; Brazil; Argentina; Chile; South Africa; Saudi Arabia; UAE; Egypt; Qatar.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

eClinical solutions market companies & financials:

The eclinical solutions market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • eClinical Solutions LLC, Market leaders, such as eClinical Solutions LLC, are involved in extensive research for the development of cost-efficient and technologically advanced products. Subsequently, the introduction of such efficient products is expected to provide this market with lucrative growth opportunities.

  • eClinicalWorks, eClinicalWorks mainly serves physician practices and allows them to view & use as much or as little individual wellness data, with the patient's permission, as they want. The electronic health record (EHR) is also interoperable with hospital systems that use the Integrating the Healthcare Enterprise standards.

  • Oracle Corporation, Oracle Corporation is a hardware & software systems company operating through its three segments: Services, Cloud & License, and Hardware. Oracle manufactures, develops, markets, and maintains the Oracle database and middleware software, cloud infrastructure, application software, and hardware systems. Its portfolio includes software, such as enterprise performance management & analytic applications, data discovery, predictive analytics & self-learning decision optimization, and business intelligence.

  • Persistent Systems, Persistent Systems has served the life science and healthcare industry for over 25 years. The company’s robust technology centers of excellence provide solutions across the entire pharma value chain right from drug discovery to distribution. It helps manage compliance, clinical trials, supply chains, and operational excellence efficiently and with new levels of insights & collaboration.

  • PAREXEL International Corporation, PAREXEL International Corporation offers expertise in medical communication, commercialization, consulting, clinical research & logistics, and advanced technology services & solutions to the biotech, medical devices, and pharma industries. PAREXEL focuses on end-to-end integrated solutions for the management of product lifecycles for developing & commercializing new therapies. It has three segments, namely PAREXEL Consulting (PC), PAREXEL Informatics (PI), and Clinical Research Services (CRS).

  • Medidata Solutions, Medidata Solutions is involved in the development of new products. In addition, Medidata implemented cloud-based solutions, which allow customers to procure accurate information with their Electronic Data Capture (EDC) solutions

  • BioClinica, Inc., BioClinica, Inc. provides integrated clinical research services and technology-enhanced clinical trial management solutions. It offers integrated clinical research technology solutions to biotech, pharma, medical device companies, and contract research organizations (CROs).

  • CRF Health, CRF Health delivers electronic ​Clinical Outcome Assessments (eCOA) solutions for global clinical trials. Many major pharma and biotech firms partner with CRF Health to develop eCOA strategies, manage clinical outcome data, and transition from legacy paper instruments to gain immediate visibility to patient assessments. The company aims at bridging the barriers with its expertise & technologies to securely provide best practice eCOA solutions for the life sciences sector, enhancing patient compliance & data integrity and mitigating regulatory risks of paper-based COAs. eCOA solutions include Observer Reported Outcomes (ObsROs), Clinician or Rater Reported Outcomes (ClinROs), and electronic Patient Reported Outcomes (ePROs).

  • ERT Clinical, ERT Clinical is a global data & technology organization that minimizes risk & uncertainty in clinical trials and helps achieve a new level of day-to-day trial management efficiency across study teams with near real-time visibility into risk & performance indicators.

  • Medrio, Inc., Medrio, Inc. offers advanced e-clinical tools and electronic data capture (EDC) suitable for complex clinical trials. It provides a blockchain engagement technology platform, which delivers EDC, security, analysis, supply management, and compliance solutions for patients & clinicians as well as provides consulting services.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

eClinical Solutions Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2023, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

eClinical Solutions Market Report Assumptions:

  • The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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