Product Code: 57274
The eClinical solutions market was valued at USD 5.06 billion in 2018 and is expected to reach a value of USD 10.5 billion by 2024, recording a CAGR of 12.86% over the forecast period 2019-2024. Cloud-Based EDC for clinical study is in trend and the driving forces behind this surge are the need to optimize the drug development process through real-time data analysis and while cutting costs along the way. Once decided the clinical data outsourcing strategy, cloud-based technology can significantly improve the efficiency and accuracy of the next clinical study.
- With the advent of eClinical solutions, the amount of data produced is huge and contains information that can be easily accessed with electronic data mining, which was earlier impossible with paper records. It is reported that the typical tertiary care hospital generates about 100 terabytes (TB) of data per year, which helps in driving the market.
- Rising number of clinical trials is driving the market with increase number of design on biomedical or behavioral research studies on human participants to answer specific questions about biomedical or behavioral interventions, including new treatments or pre existing health treatments. Usually pilot experiments are conducted to gain insights for design of the clinical trial.
- Health systems in low- and middle-income nations continue to face many challenges in providing high-quality, affordable, and universally-accessible care due to lack of awareness and infrastructure.
Scope of the Report
eClinical solutions combines clinical technology and expertise to help accelerate the clinical development process by electronic data capture and clinical trial management systems. The market is driving by clinical research data acquisition and analytics, which has made easier using eClinical solutions.
Key Market Trends
Increasing Electronic Health Records (EHRs) is Driving the Adoption of Clinical Data Management Systems
- EHR increases productivity and efficiency while cutting down on paperwork. Patients and staff have fewer forms to fill out, leaving clinicians with more time to see patients. Referrals and prescriptions can be sent quickly, cutting wait times for appointments and pickups. With integrated patient tracking, billing and insurance claims can be filed in a timely manner where CDMS activity is particularly to measure certain aspects of data quality by cleaning and managing the data, which drives the eCinical solutions market.
- Moreover with trend in IoT, it will allow for electronic devices to capture or monitor data and connect them to a private or public cloud so that these devices can automatically trigger certain events. Given the numerous smart devices in healthcare, such as thermometers, blood-gas analyzers, glucose meters, smart beds, mobile X-ray machines, ultrasound units, etc., the IoT in healthcare can transform patient care. Cloud-based CDMS systems can provide near real-time access to data in a clinical trial. This insight enables faster decision making and can support adaptive trial designs.
- Veeva Vault Clinical Data Management Suite (Vault CDMS) unifies best-of-breed applications for clinical data management including EDC, coding, cleaning, and reporting. It is built on modern cloud platform with a flexible and intuitive user interface which allows to run complex multi-arm adaptive trials.
North America to Account for a Major Share
- North America increases its market share as this region has some of the most developed health systems in the world and with outbreak of new diseases and with growth over the advanced technologies, the demand for eclinical solution is increasing the market.
- Clinical trials assist in the development, registration, and eventually access of new drugs to patients. Imaging helps in the process of drug development by offering non-invasive evaluation of drug action and response of tumor to treatment. In June 2019, in United States, OnKure, Inc. and the University of Colorado Cancer Center announced enrollment of the first patient in a first-in-human phase 1 clinical trial testing investigational anti-cancer agent OKI-179 in patients with advanced solid tumors, which drives the eClinical market.
- Allscripts Healthcare Solutions, Inc. is a publicly traded American company that provides physician practices, hospitals, and other healthcare providers with practice management and electronic health record technology, including electronic prescribing, care management, and revenue cycle software, which drives the market in United States.
The eClinical solutions market is highly fragmented due to the presence of many large and small players. The firm concentration ratio is expected to increase in emerging markets, like Asia-Pacific region offering growth opportunities for smaller enterprises, which increases the rivalry in market. Key players are Oracle Corporation, BioClinica, Inc., PAREXEL International Corporation, etc. Recent developments in the market are -
- Feb 2019 - eClinical Solutions LLC, a leading global provider of cloud based products for clinical research and software driven clinical data services, announced an enhanced validation offering, the elluminate Validation Accelerator. it is a cloud-based platform used by Life Sciences companies to aggregate, standardize and analyze data from numerous systems and sources across trials providing clinical teams with rapid data insights, improved data quality and reduced cycle time.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Enormous Data Mounting from Healthcare Industry
- 4.2.2 Rising Number of Clinical Trials
- 4.2.3 Government Emphasis on Clinical Research
- 4.3 Market Restraints
- 4.3.1 Lack of Awareness and Infrastructure in Developing Countries
- 4.3.2 High Implementation Costs
- 4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Product Type
- 5.1.1 Clinical Data Management Systems (CDMS)
- 5.1.2 Clinical Trial Management Systems (CTMS)
- 5.1.3 Randomization & Trial Supply Management
- 5.1.4 Electronic Clinical Outcome Assessments (eCOA) & Electronic Patient-reported Outcomes (ePRO)
- 5.1.6 Other Product Types
- 5.2 Deployment Mode
- 5.2.1 Web-based hosted eClinical Solutions
- 5.2.2 Cloud-based eClinical Solutions
- 5.2.3 Licensed Enterprise (On-premise)
- 5.3 End User
- 5.3.1 Pharmaceutical
- 5.3.2 Contract Research Organizations (CROs)
- 5.3.3 Hospitals
- 5.3.4 Other End Users (Biopharma and Medical Device Companies)
- 5.4 Geography
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia-Pacific
- 5.4.4 Latin America
- 5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Oracle Corporation
- 6.1.2 BioClinicia Inc.
- 6.1.3 PAREXEL International Corporation
- 6.1.4 OmniComm Systems
- 6.1.5 ERT Clinical
- 6.1.6 Datatrak International Inc
- 6.1.7 HT Corporation
- 6.1.8 eClinical Solutions, Inc.
- 6.1.9 Medidata Solutions, Inc.
- 6.1.10 Merge Healthcare Incorporated
- 6.1.11 CRF Health, Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS