Market Research Report
eClinical Solutions Market Size, Share & Trends Analysis Report By Product (CTMS, ECOA, EDC, CDMS, RTSM, eTMF), By Delivery Mode, By Development Phase, By End Use, And Segment Forecasts, 2019 - 2026
|Published by||Grand View Research, Inc.||Product code||639943|
|Published||Content info||195 Pages
Delivery time: 2-3 business days
|eClinical Solutions Market Size, Share & Trends Analysis Report By Product (CTMS, ECOA, EDC, CDMS, RTSM, eTMF), By Delivery Mode, By Development Phase, By End Use, And Segment Forecasts, 2019 - 2026|
|Published: March 8, 2019||Content info: 195 Pages||
The global eClinical solutions market size is expected to reach USD 13.73 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to progress at a CAGR of 13.7% during the forecast period. Increasing R&D activities by biopharma and pharma companies, application of software solutions in clinical trials, and expanding customer base are anticipated to fuel the demand for eClinical solutions.
Technological advancements such as electronic data capture and Wi-Fi connectivity are projected to drive the market in the forthcoming years. As the demand for tracking and analyzing clinical data increases, the need for effective clinical solutions rises. Unmet needs to manage efficient clinical development process are poised to boost the eClinical solutions market over the forecast period.
Moreover, digital transformation in the field of clinical trials and preference for data centric approach are providing a tremendous push to the market. Demand for integrated clinical IT solutions is increasing due to massive volume of data generated during clinical development processes. eClinical solutions offer single source of information that helps optimize the cost by eliminating redundant data entry and by reducing on-site verification and source data verification. Rising awareness regarding these advantages is projected to propel the market.
Adoption of eClinical workflows in trials offer enormous potential in clinical development processes. These solutions can facilitate decision making in each stage of development. It also helps reduce cost and time between development phase by utilizing seamless designs and by identifying failing compounds. In addition, it offers rapid access to data and patient safety information, which is helpful in making quick decisions.
Market players engage in new product development and strategic alliances including partnership agreements, promotional activities, and acquisitions to keep market rivalry high. For instance, in October 2017, Oracle entered into a collaboration with Healthx Inc. to provide (SaaS) solution for core administration and digital engagement to healthcare payers.