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| Global eClinical Solutions Market |
eClinicalsolution software is a combination of applications,
technology, and services that work together to aid in automated data
management and collection of clinical trials with the aim of
replacing paper-driven and manual methods. eClinical solution
software has gained significant traction as an industry tools to
reduce development costs, manage data requirements, support faster
decisions for potential new products, and increase efficiency
throughout the clinical trial process. The use of eClinical solutions
in clinical trials is required to comply with regulations and
regulatory guidance known as good clinical practices (GCPs) along
with guidance from the FDA, foreign governments, and non-governmental
organizations such as the International Conference on Harmonization
(ICH).
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Market
Dynamics:
Increasing
number of clinical trials in emerging economies due to lower
operational costs is expected to boost demand for eClinical solutions
software. For instance, data from ClinicalTrials.gov, showed that, in
2017, 36% of clinical trials were conducted in the U.S. and 47% in
non-U.S. countries. Clinical trial data is significant for the quick
development of new treatments in a cost-effective manner. It is the
most valuable asset for life sciences companies. Companies outsource
the intense administrative parts of research and regulatory and
ethics filings, to international countries for economical expenses
and reducing cost and time. Developing nations can often offer access
to a larger number of patients, with quicker enrollment, and in
general a shorter trial timeline from start to finish. Moreover,
increasing number of clinical trials for various chronic diseases
such as cancer is expected to fuel growth of the eClinical solutions
market.
Rapid
Research and Development in eClinical field by biotechnology and
pharmaceutical companies is expected to drive growth of the eClinical
solutions market
Various
software application of clinical solutions are gaining acceptability
in clinical trials, which is supposed to be the key factor driving
growth of the eClinical solutions market. The other factors such as
increasing government funding and rising R&D programs by
biopharma and pharmaceutical companies are expected to produce new
products, which will further boost growth in eClinical solutions
market. Innovations and technological advances in the field of
software solutions will help in fuelling growth in the market over
the forecast period. According to U.S. National Library of Medicine,
in last 20 years, there has been a significant increase in the number
of new clinical trials registered every year.
Extensive
research and development has led the companies to outsource R&D
activities from other cheaper avenues. The independent service
providers such as CROs are committed to provide high quality and
timely data, adhering to the regulatory guidleines and post-approval
regulatory requirements, which in turn facilitates in lowering the
overall cost. For instance, in 2011, Pfizer entered into an agreement
with Parexel and Icon. Under this agreement, Parexel provided Pfizer
with a range of clinical development services for five years.
Competitive
Analysis:
Key players operating in the eClinical solutions market include;
•
BioClinica Inc.
•
CRF Health
•
DATATRAK International Inc.
•
eClinical Solutions Inc.
•
MaxisIT Inc.
•
Medidata Solutions Inc.
•
Merge Healthcare Inc.
•
OmniComm Systems Inc.
•
Oracle Co.
•
PAREXEL International Co.
Market
Taxonomy:
Global
eClinical Solutions Market, By Deployment Type:
•
Web-based
•
Cloud-based
•
Licensed Enterprise
Global
eClinical Solutions Market, By Product Type:
•
Electronic Data Capture
•
Electronic Clinical Outcome Assessment
•
Clinical Data Management System
•
Clinical Trial Management System
•
Clinical Analytics Platform
•
Randomization and Trial Supply Management
•
Electronic Trial Master File
•
Others
Global
eClinical Solutions Market, By End User:
•
Pharmaceutical and Biopharmaceutical Companies
•
Hospitals
•
Consulting Servicing Companies
•
Research Organizations
•
Medical Device Manufacturers
Global
eClinical Solutions Market, By Region:
•
North America
•
Europe
•
Asia-Pacific
•
Latin America
•
Middle East
•
Africa
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