PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1418735
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1418735
Global EClinical Solutions Market is valued at approximately USD 8.06 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 14.1% over the forecast period 2023-2030. EClinical Solutions encompass a range of technology-driven tools, including electronic data capture and clinical data management systems, clinical trial management systems, and randomization and trial supply management. These solutions play a crucial role in the streamlined and enhanced management of clinical trial data. They provide a comprehensive set of tools for planning, overseeing, and monitoring clinical study portfolios by effectively organizing and integrating data generated during clinical trials. These solutions contribute to achieving favorable clinical research outcomes and ensuring compliance in submissions through the integration of contact management, calendars, monitoring, and document management. They facilitate efficient data entry, storage, and regulation, while also ensuring the authentication of data integrity and reliability. The implementation of eClinical Solutions contributes to expediting drug development timelines and enhancing the overall patient experience in the clinical research process. The rising externalization of clinical trial studies by large pharmaceutical and biopharmaceutical companies, the growing advantages of eClinical solutions, coupled with the presence of a strong range of products in the pipeline are the key driving factors for market growth across the globe.
In addition, the growing incorporation of software solutions in clinical trials is the most prominent factor that is propelling the market demand over the estimated period. The globalization of clinical trials, involving multiple sites and geographies, requires centralized and standardized data management systems. According to Statista, in 2019, there were approximately 325,776 clinical studies were registered worldwide, which is continuously rising and reaching 409,300 as of March 2022. eClinical Solutions enables seamless collaboration and data sharing across different locations, which is fueling the market demand globally. Moreover, the growing outsourcing of clinical trial processes to CROs, as well as the gradual shift from manual data interpretation to real-time data analysis presents various lucrative opportunities over the forecast years. However, the scarcity of skilled research professionals and lack of recognition are hindering the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global EClinical Solutions Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing target population and an increase in the prevalence of lifestyle-related conditions such as diabetes and cardiac disorders. The market is further propelled by the introduction of new products from eClinical solution providers and rising government grants within the region. Additionally, the presence of major industry players and access to advanced infrastructure are anticipated to contribute significantly to the regional market's expansion. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. Substantial unmet medical needs and a rising incidence of chronic diseases such as cancer, cardiovascular conditions, and infectious diseases are significantly propelling the market demand across the region. A growing trend involves outsourcing a considerable number of clinical trials to countries such as China, India, Korea, and Japan, given their substantial patient populations and cost advantages. This outsourcing practice has significantly fueled the adoption of eClinical solutions in these regions. The APAC market's growth is further propelled by its status as an emerging economy, with government funding directed toward research and drug discovery, expected to bolster its expansion in the foreseeable future.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable.