The report “eClinical Solutions Market by Product (CDMS, EDC, CTMS, eCOA, RTSM, eTMF, Safety), Deployment (On premise, Cloud), Application (Collection, Operations, Analytics), Trial Phase, End user (Pharma, Biotech, Med Devices), & Region – Global Forecast to 2029”, is projected to reach USD 22.1 billion by 2029 from USD 11.6 billion in 2024, at a high CAGR of 13.7% during the forecast period.
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- 317 Market Data Tables
- 54 Figures
- 244 Pages and in-depth TOC on “eClinical Solutions Market – Global Forecast to 2029”
Some of the prominent key players are:
- Oracle Corporation (US),
- Parexel International Corporation (US),
- Dassault Systèmes (France),
- Clario (US),
- Datatrak International (US),
- Signant Health (US), and many more……
Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the eClinical Solutions Market.
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- In 2023, the electronic data capture & clinical data management solutions segment accounted for a sizable part of the eClinical solutions market by product. This segment is expected to have the fastest growth rate during the projection period. The considerable proportion can be ascribed to the increasing complexity and volume of clinical studies, which necessitate rapid and accurate data acquisition and management
- In 2023, the phase III segment accounted for the greatest proportion of the eClinical solutions market. This growth is caused by the participation of large patient populations (thousands) throughout this time period. Phase III studies are the most expensive, time-consuming, and difficult to complete, particularly for chronic medical conditions.
- The eClinical solutions market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2023, North America held the largest share of the market, followed by Europe and the Asia Pacific. This intensity in North America can be due to several factors such as owning to an advance and expensive healthcare infrastructure, investment in R&D, and the presence of major pharmaceutical and biotechnology companies.
The eClinical solutions market is primarily driven by several key factors, such as the use of technology, which helps remove repetitive tasks that individual team members have to do during the course of a clinical trial. Other drivers entail the increasing need to reduce time and cost burdens on clinical trials, stringent regulatory requirements makes it important for data management to follow all compliance measures which can easily be done by eClinical solutions; increasing adoption of cloud-based technologies offers scalability, flexibility, and cost-efficiency in managing large volumes of clinical trial data securely. However, factors such as integrating eClinical solutions with existing healthcare IT infrastructure can be challenging, requiring technical expertise and potentially causing compatibility issues, high upfront cost associated with implementing and maintaining these complex systems are expected to restrain market growth to some extent.
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