Global eClinical Solutions Market is anticipated to grow at a 13.0% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “eClinical Solutions Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global eClinical Solutions Market is estimated to be over US$ 4.0 Bn in 2017. It is anticipated to grow at a CAGR of 13.0% from 2019 to 2030.
The continual growth of the eClinical Solutions Market can be attributed to increasing R&D expenditure in Pharmaceutical and Biotechnology companies, rising government funding and grants for clinical trials, growing adoption of eClinical Solutions to streamline R&D and clinical trial activity. Moreover, increasing government expenditure on clinical trials to provide better healthcare has been a major factor to contribute to the substantial growth of the global hospital eClinical Solutions system market between 2019 and 2030.
Growing R&D expenditure and focus on clinical trials
Pharmaceutical & Biotechnology companies are continuously investing in R&D and Contract research organization for conducting research. This has led them to adopt eClinical Solutions like Electronic data capture (EDC) and clinical trial management systems (CTMS) to capture data. Moreover, pharma-biotech have allocated budget for IT in drug discovery and development also government provide funds to support clinical trials.
High cost related to eClinical solutions implementation
Major concern related to the eclinical solutions market is the implementation cost involved. Any clinical trial data collection involves data collection that require infrastructure, legal and patient consent which adds to the incurred cost. Also skilled professionals are needed for data collection and handling of software. Moreover, growing security concerns and data breaches related to patients medical history and clinical trials data may hamper the growth of the eClinical solutions market to certain extent.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, eClinical Solutions Market by Product (CDMS, EDC, CTMS, eCOA, Analytics, RTMS, eTMF, Safety), Delivery Mode (Web-based, On-premise, Cloud-based), Clinical Trial Phases, End User (CROs, Hospitals, Medical Device Manufactures) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents: https://www.marketindustryreports.com/eclinical-solutions-market/33
Rapid Growth of the Asia Pacific Market
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing population, continuously growing economy, rising adoption of eClinical solutions and government and private institution support is anticipated to present a lucrative growth scenario for the eClinical solutions system market in this region. Moreover, growing favorable regulations and norms are supporting eClinical solutions are expected to present an attractive growth prospect for the market in the coming years.
Major Players in the eClinical Solutions Market
The prominent players in the global eclinical solutions Market are Oracle Corporation, EClinical Solutions, LLC, Parexel International Corporation, Bioclinica, Inc., Datatrak International Inc., ERT Clinical, Medidata solutions, Merger Healthcare Incorporated, Omnicomm Systems, Inc. and NextGen Healthcare among others.
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