eClinical Solutions Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The eClinical Solutions Market is segmented by Product Type (Clinical Data Management Systems (CDMS), Clinical Trial Management Systems (CTMS), Randomization and Trial Supply Management, Electronic Data Capture (EDC), Electronic Clinical Outcome Assessments (eCOA) and Electronic Patient-reported Outcomes (ePRO), Clinical Analytics Platforms, Electronic Trial Master File (eTMF) and Other Product Types), Deployment Mode (Cloud-based eClinical Solutions and On-premise eClinical Solutions), End User (Pharmaceutical and Biotechnology Companies, Contract Research Organizations (CROs) and Other End Users) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.

eClinical Solutions Industry Overview

eClinical Solutions Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 12.5 %

Major Players

eClinical Solutions Market Major Players

*Disclaimer: Major Players sorted in no particular order

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eClinical Solutions Market Analysis

eClinical Solutions Market is poised to grow at a CAGR of 12.5% during the forecast period, 2022-2027.

The COVID-19 pandemic has created an inflection point for the eClinical solutions market. Most pharmaceutical and biotechnological companies have focused their R&D efforts to aid in developing a vaccine against COVID-19. Many companies have invested significant resources to utilize analytics in the fight against COVID-19. For instance, in June 2020, eClinical Solutions LLC, a leading cloud-based enterprise software provider, collaborated with Karyopharm Therapeutics on randomized clinical trials for low-dose Selinexor (a drug) among hospitalized patients with severe cases of COVID-19. Due to the large volume of clinical trials being conducted worldwide, there is an increase in demand for software that can be used to expedite the vaccine development process. Also, clinical trials for the COVID-19 vaccine involve studies undertaken simultaneously in different countries. Collating large amounts of data from various clinical trials in different nationalities requires advanced analytics software. This is expected to have a positive effect on market growth.

The major market drivers include enormous data mounting from the healthcare industry, a rising number of clinical trials, and government emphasis on clinical research. For instance, according to ClinicalTrials.gov, as of June 2022, 418,021 studies were listed in 220 countries, out of which 323,575 interventional studies and 92,782 observational studies. Moreover, as per the same source, the number of clinical trial studies is expected to increase from 399,528 in 2022 to 418,021 by the end of 2022. Thus, an increasing number of clinical trial studies is expected to increase the demand for clinical solutions anticipated to boost the market growth.

With the increasing prevalence of the Internet of Things (IoT) and digitization of healthcare, the amount of data produced is enormous and contains information that can be easily accessed with electronic data mining, which was earlier impossible with paper records. According to the National Supercomputing Centers (NSCC), in December 2021, hospitals will produce around 50 petabytes of data per year staggering 50 million GB of storage space. The information encompasses clinical notes, lab tests, medical images, sensor readings, genomics, and operational and financial data. eClinical solutions are expected to have a significant impact in this area.

Moreover, various strategies adopted by the key market players are anticipated to drive the market's growth over the forecast period. For instance, in November 2020, Signant Health acquired VirTrial, one of the leading software solutions providers for remote site startup and decentralized clinical trial conduct. Additionally, in August 2020, GI Partners, one of the leading private investment firms, acquired Clinical Ink, a clinical trial technology provider.

Also, the need to maintain transparency and eliminate redundancy and forgery of medical research-related data are the primary reasons for the widespread adoption of eClinical solutions in the market. However, lack of awareness about infrastructure development and high cost restrain the market over the forecast period.

eClinical Solutions Industry Segments

As per the scope of the report, eClinical is a term used within the biopharmaceutical domain. eClinical solutions manage the clinical technologies and expertise to accelerate clinical development. The market is segmented by product type into clinical data management systems (CDMS), clinical trial management systems (CTMS), randomization and trial supply management, electronic data capture (EDC), electronic clinical outcome assessments (eCOA), and electronic patient-reported outcomes (ePRO), clinical analytics platforms, electronic trial master file (eTMF), and Other Product Types. By deployment mode, the market is segmented into cloud-based eClinical solutions and on-premise eclinical solutions. By end user, the market is segmented into pharmaceutical and biotechnology companies, contract research organizations (CROs), and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle-East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across significant regions globally. The report offers the value (USD million) for the above segments.

By Product Type
Clinical Data Management Systems (CDMS)
Clinical Trial Management Systems (CTMS)
Randomization and Trial Supply Management
Electronic Data Capture (EDC)
Electronic Clinical Outcome Assessments (eCOA) and Electronic Patient-reported Outcomes (ePRO)
Clinical Analytics Platforms
Electronic Trial Master File (eTMF)
Other Product Types
By Deployment Mode
Cloud-based eClinical Solutions
On-premise eClinical Solutions
By End User
Pharmaceutical and Biotechnology Companies
Contract Research Organizations (CROs)
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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eClinical Solutions Market Trends

This section covers the major market trends shaping the eClinical Solutions Market according to our research experts:

Clinical Data Management Systems Segment is Expected to Dominate the Market Over the Forecast Period

Clinical Data Management (CDM) is a critical phase in clinical research, which leads to the generation of high-quality, reliable, and statistically sound data from clinical trials. This helps to reduce the time from drug development to marketing drastically.

A significant trend driving this segment is the integration of the CDMS with clinical randomization, supply management, trial, and patient recruitment solutions. Companies are also developing their existing eClinical tools to extend the capabilities and ease the whole clinical trial conduction. For instance, in June 2020, eClinical Solution LLC, a cloud-based enterprise software developer, added connectors to Formedix, Omnicomm, Box, and Elluminate, which would allow the users to integrate data from various clinical systems. The volume and variety of clinical data continue to grow, with most trials relying on five or more different data sources for their studies.

Furthermore, according to the study titled "A Clinical Data Management System for Diabetes Clinical Trials," published in the Journal of Healthcare Engineering in February 2022, The use of clinical data management systems in diabetes clinical trials appears inevitable, given the complexity of data management processes in diabetes clinical trials and the widespread use of information technologies in research. A clinical data management system is software that aids in the data management process during clinical trials and helps to eliminate errors that can occur when data is managed manually. Thus, the benefits of clinical data management in clinical trials are anticipated to drive the segment growth over the forecast period.

Thus, the clinical analytics platform is expected to play an essential role by providing services such as identifying missed visits and forecasting upcoming future visits, including those for dosing, which are more likely to be cut based on various data sources.

eClinical Solutions Market: Number of Clinical Trials, by WHO Region, 2021

Asia-Pacific is Expected to be the Fastest Growing Region Over the Forecast Period

Asia-Pacific is likely to register a promising CAGR over the forecast period due to the high unmet medical needs and rising prevalence of chronic diseases such as cancer, cardiovascular conditions, and infectious diseases. The COVID-19 pandemic is expected to affect the development of eClinical Solutions in the region significantly. Due to its high population and better management of the COVID-19 pandemic, countries across the region have been reaping the benefits of investing in eClinical solutions.

Increasing government research and development activities is also creating avenues for growth. According to the National Bureau of Statistics of China, in January 2022, the national total R&D expenditure reached CNY 2.79 billion, increasing by CNY 411.13 billion or 14.2% over the previous year. Thus, government funding growth related to research and drug discovery is triggering the overall market growth.

Several Indian companies are acquiring, partnering, and launching tools in eClinical solutions to strengthen their position on a global and regional level. For Instance, in August 2020, Quantzig launched a comprehensive portfolio of clinical data analytics solutions to strengthen its market position in the worldwide arena. Such strategies adopted by the key market players further bolster the growth of the market over the projecting period.

Additionally, in February 2022, Castor reported the launch of a new program to support clinical research organizations (CROs) and boost the adoption of decentralized clinical trials (DCT). A large urban population and an increase in diagnostic services are expected to sustain for some time in the Asia-Pacific region. This can drive the number of admissions into hospitals, which, in turn, is expected to increase the amount of data being generated. The presence of major regional companies is expected to affect market development positively.

Thus, all the aforementioned factors are anticipated to boost the market over the forecast period.

eClinical Solutions Market - Growth Rate by Region

eClinical Solutions Market Competitor Analysis

The eClinical solutions market is highly competitive and is growing due to greater technology adoption and more minor and mid-sized sponsors. The major players were Oracle Corporation, Veeva Systems, PAREXEL International Corporation, and Saama Technologies, Inc. The firm concentration ratio is expected to increase in emerging markets, like APAC and South America, offering growth opportunities for smaller enterprises. The players are also involved in various growth strategies, such as new product development, mergers and acquisitions, and collaborations, helping them consolidate their positions in the market.

eClinical Solutions Market Top Players

  1. Oracle Corporation

  2. Veeva Systems

  3. Mednet Solutions

  4. PAREXEL International (Calyx)

  5. Saama Technologies, Inc.

*Disclaimer: Major Players sorted in no particular order

eClinical Solutions Market Concentration

eClinical Solutions Market Recent Developments

In May 2022, eClinical Solutions reported the launch of its elluminate Statistical Computing Environment (SCE), expanding the Elluminate Clinical Data Cloud platform, which integrates and unifies clinical trial data.

In May 2022, Emmes introduced its third generation version of Advantage eClinical at the Society for Clinical Trials (SCT) in San Diego, May 15th – 18th. The cloud platform of Advantage eClinical will be available as a standalone software product after more than two years of development. The system has been specifically designed to provide fast study builds, greater flexibility, and insights to clinical trial sponsors of all sizes.

eClinical Solutions Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Enormous Data Mounting from the Healthcare Industry

      2. 4.2.2 Rising Number of Clinical Trials

      3. 4.2.3 Government Emphasis on Clinical Research

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Awareness and Infrastructure in Developing Countries

      2. 4.3.2 High Implementation Costs

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size By Value)

    1. 5.1 By Product Type

      1. 5.1.1 Clinical Data Management Systems (CDMS)

      2. 5.1.2 Clinical Trial Management Systems (CTMS)

      3. 5.1.3 Randomization and Trial Supply Management

      4. 5.1.4 Electronic Data Capture (EDC)

      5. 5.1.5 Electronic Clinical Outcome Assessments (eCOA) and Electronic Patient-reported Outcomes (ePRO)

      6. 5.1.6 Clinical Analytics Platforms

      7. 5.1.7 Electronic Trial Master File (eTMF)

      8. 5.1.8 Other Product Types

    2. 5.2 By Deployment Mode

      1. 5.2.1 Cloud-based eClinical Solutions

      2. 5.2.2 On-premise eClinical Solutions

    3. 5.3 By End User

      1. 5.3.1 Pharmaceutical and Biotechnology Companies

      2. 5.3.2 Contract Research Organizations (CROs)

      3. 5.3.3 Other End Users

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Oracle Corporation

      2. 6.1.2 Clario (BioClinicia Inc.)

      3. 6.1.3 PAREXEL International Corporation (Calyx)

      4. 6.1.4 Veeva Systems

      5. 6.1.5 ERT Clinical

      6. 6.1.6 Covance (LabCorp)

      7. 6.1.7 eClinical Solutions LLC

      8. 6.1.8 Dassault Systemes (Medidata Solutions Inc.)

      9. 6.1.9 IBM

      10. 6.1.10 CRF Health Inc.

      11. 6.1.11 Saama Technologies, Inc.

      12. 6.1.12 Datatrak International Inc.

      13. 6.1.13 Medrio, Inc.

      14. 6.1.14 Castor EDC

      15. 6.1.15 IQVIA Holdings Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments
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eClinical Solutions Market Research FAQs

The Global eClinical Solutions Market is studied from 2018 - 2028.

The Global eClinical Solutions Market is growing at a CAGR of 12.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

Oracle Corporation, Veeva Systems, Mednet Solutions, PAREXEL International (Calyx), Saama Technologies, Inc. are the major companies operating in Global eClinical Solutions Market.

Global eClinical Solutions Industry Reports

In-depth industry statistics and market share insights of the Global eClinical Solutions sector for 2020, 2021, and 2022. The Global eClinical Solutions research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Global eClinical Solutions report PDF.

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