Market Research Future (MRFR), can be anticipated to take 12.24% CAGR during the forecast period of 2015-2023. MRFR also claims a possibility of upscaling of the valuation till USD 9434.57 million by 2023.
Pune, India - September 10, 2019 /MarketersMedia/ —
The eClinical solutions market is known for the impact it has on the healthcare sector. The system has a blend of clinical technology and expertise and can be enhanced with the clinical development process by using data management and data analysis extensively. The global eClinical Solutions Market, as per the report on the same by Market Research Future (MRFR), can be anticipated to take 12.24% CAGR during the forecast period of 2015-2023. MRFR also claims a possibility of upscaling of the valuation till USD 9434.57 million by 2023.
The report mentions several factors that can impact the market growth in the coming years. Some of them are increasing R&D activities, increasing participation from the various biopharmaceutical and pharmaceutical companies, hike in expenditure for R&D funding, high integration of smart tools in the process, and others can improve the global market scenario.
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eClinical Solutions Market - Competitive Analysis
Several companies in the global eClinical solutions market has revealed their intention to take the global market to the next level. This is expected to happen with the increasing strategic moves employed by them. MRFR enlisted these companies to have a better profiling of the market and understand trends that can change the global market in the coming years.
These companies are
PAREXEL International Corporation,
ERT Clinical,
CRF Health,
BioClinica, Inc.,
Omnicomm Systems, Inc.,
DATATRAK International, Inc.,
Oracle Corporation,
Medidata Solutions, Inc.,
Merge Healthcare Inc, and
MaxisIT.
Various methods like merger, acquisition, collaboration, partnership, product launch, and others have been included in the global market study.
In August 2019, HCL Technologies and Oracle Health Sciences announced their collaboration for mHealth in clinical trials. This partnership is also expected to improve the eClinical solution market.
Segmentation - eClinical Solutions Market
MRFR’s report has a better grip over the global eClinical solutions market as it tries to understand by segmenting it on the basis of type, delivery mode, clinical trial phase, and end-user. This segmentation allows better market understanding with a close reading of the global trends that can transform the market in the coming years.
Based on the type, the eClinical solutions market comprises clinical data management system (CDMS), randomization & trial supply management (RTSM), electronic trial master files (eTMF), electronic clinical outcome assessment (eCOA), clinical trial management system (CTMS), and trial safety & regulatory. The Clinical Data Management System (CDMS) segment had the highest market share in 2017, and can take the market lead to USD 2579million valuation by the end of 2023. The Electronic Clinical Outcome Assessment (eCOA) segment, is projected to be the fastest growing segment with the Clinical Data Management System (CDMS) segment segmenting it closely.
Based on the Delivery Mode, the eClinical solutions market comprises web-based, cloud-based, and enterprise-based.
By Clinical Trial Phase, the eClinical solutions market consists Phase I, Phase II, Phase III, Phase IV. The Phase IV segment had the largest market share among all the other in the eClinical solutions market.
Based on the end-user segment, the eClinical solutions market comprises contract research organizations (CROs), pharma/biotech companies, and others. The Contract Research Organizations (CROs) segment has the dominance in the rising clinical trials outsourcing.
Regional Analysis - eClinical Solutions Market
North America, Europe, Asia-Pacific (APAC), and the Rest of the World (RoW) are four regions that have been taken into account for a region-specific study of the global market. This type of study reveals growth pockets that can be taken into account for a better market evaluation in terms of prospects.
The Americas had the lead in 2017 and its dominance is expected to continue in the coming years as well. The region has the U.S., Canada and other prominent countries that have been spending huge amount of money for a better intake of eClinical solutions. Europe’s growth is expected to be next only to that of the Americas. The region has similar features like that of the North America. Increasing expenditure in the research and development sector can also boost the regional market. The APAC market also has substantial market dominance. This regional growth can be attributed to the impact it is receiving from the transforming healthcare sector.
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