Increasing operational costs and regulatory requirements associated with clinical research studies, government grants to support clinical trials, and growing R&D expenditure on drug development by pharma-biotech companies are some of the major driving factors for the global eClinical solutions market.
New York, Sept. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "eClinical Solutions Market by Clinical trial phases, Product, Delivery, End user - Global Forecasts to 2026" - https://www.reportlinker.com/p03607252/?utm_source=GNW
Cloud-based (SaaS) segment is projected to record the highest CAGR
Based on delivery mode, the global eClinical solutions market is segmented into web-hosted (on-demand), licensed enterprise (on-premises), and cloud-based (SaaS) solutions.In 2020, the web-hosted (on-demand) segment commanded the largest share of the global eClinical solutions market.
The increasing number of cloud-based clinical trial solutions in the market and the rising adoption of these solutions in clinical research studies (owing to advantages such as ease of integration, quicker deployment, and flexible scalability with a fixed monthly fee) are fueling the growth of the cloud-based eClinical solutions market.
Phase III clinical trials is expected to register the highest growth during the forecast period
Based on clinical trial phase, the eClinical solutions market has been segmented into phase I, phase II, phase III, and phase IV trials.The phase III clinical trials segment accounted for the largest share of the eClinical solutions market in 2020.
The large share of this segment is attributed to the high demand for eClinical solutions for phase III trials due to the involvement of thousands of patients in this phase.
CROs segment is estimated to record the highest CAGR in the forecast period.
Based on end user, the global eClinical solutions market is segmented into pharmaceutical and biopharmaceutical companies, contract research organizations, consulting service companies, medical device manufacturers, hospitals, and academic research institutions.The pharmaceutical and biopharmaceutical companies segment accounted for the largest share of the eClinical solutions market in 2020.
However, the CROs segment is estimated to record the highest CAGR (15.5%) in the next five years. The increasing number of CROs in developed as well as developing countries, and the rising instances of clinical trial outsourcing to specialized clinical research organizations are responsible for the high growth rate of this segment.
North America To Witness Significant Growth From 2021 To 2026
In 2020, North America commanded the largest share of the eClinical solutions market.Increasing government grants to support clinical trials, continuous product development and new product launches by eClinical solution vendors, and growth in the number of partnerships for new drug development are further stimulating the demand for eClinical solutions in this region.
Breakdown of supply-side primary interviews: • By Company Type: Tier 1 – 33%, Tier 2 – 42%, and Tier 3 – 18% • By Designation: C-level – 29%, Director-level – 23%, and Others – 48% • By Region: North America - 35%, Europe – 30%, APAC –26%, Rest of the World –9%
Some of the prominent players in this market are Oracle Corporation (US), Medidata Solutions, Inc. (US), Parexel International Corporation (US), BioClinica, Inc. (US), Signant Health (US), Datatrak International, Inc. (US), ERT (US), eClinical Solutions, Inc. (US), MaxisIT Inc. (US), Bio-Optronics, Inc. (US), Merge Healthcare Incorporated (US), and OmniComm Systems, Inc. (US)
This report describes and studies the eClinical Solutions market based on product, delivery mode, clinical trials phases, end users and region.It provides detailed information regarding the major factors influencing the growth of this market and the factors impacting market dynamics.
The report includes in-depth competitive analysis and the product matrix of the prominent players in this market, along with their company profiles, product portfolios, recent developments (mergers, acquisitions, partnerships, collaborations, etc.), and key business strategies.
Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
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