eClinical solutions market size is predicted to value at USD 12.05 million by 2025, during the forecast period. The market is subject to undergo a substantial growth due to the rise in the R&D activities by number of bio-pharma and healthcare organizations, growing use of automated solutions in medical trials, and rise in the customer-base. Various advanced technologies such as electronic data capture via Wi-Fi enabled devices in the field of clinical trials, has led to rapid development in eClinical solutions industry in recent years.
The
constant need for tracing and diagnosis of clinical data is influencing the
clinics and hospitals to adopt of efficient clinical solutions, thus escalating
market growth over forecast period. Additionally, the crucial need for highly
efficient clinical process is poised to influence the growth of the industry.
Globally, the eClinical solutions industry is predicted to grow at CAGR of
13.6% in the forecast period, thus providing numerous opportunity for market
players to invest for research and development in the eClinical solutions
market.
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Latest
trend associated with outsourcing of medical trials to the contract research
organizations (CROs), growing number of these organizations, and environmental
& life sciences are helping eClinical solutions industry to acquire immense
traction in the upcoming years. Also, numerous research programs across the
globe to implement low cost modules are responsible for stirring up the need
for eClinical systems. Furthermore, digital revolution in the healthcare sector
and ever-changing inclination towards the current data centric trends are expanding
the reach of the market.
The
constant need to embed clinical IT solutions is growing because of the large
sets of data produced between clinical development procedures. eClinical
systems provide a common source of data to allow cost optimization by removing
undesired data entry and limiting need for online verification technique and
data authentication rate. Growing awareness associated with the use of the
eClinical solutions is advancing market growth during forecast period.
eClinical
is commonly used to signify the automated electronic applications that are
implemented in clinical research. The use of eClinical is significantly growing
in the biopharmaceutical industry as well. Formerly, eClinical solutions is
typically adopted for engineering application in the clinical trials similar to
EDCs i.e. electronic data capture systems, electronic patient diaries,
interactive voice response (IVR) systems, interactive web recognition (IWR)
systems, e-PRO and other kinds automated systems that are commonly utilized in
clinical trials. eClinical solutions are mostly web-based toolkits to capture
real time data associated with the clinical trials to provide faster and
superior execution of clinical processes. eClinical solutions are implemented
with the help of software located on the server side, so it is not needed to
install it on the desktop. There are various eClinical forums allowing users to
share ideas via internet.
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The
conventional methodologies such as clinical trials were influenced by some of
the critical factors similar to the growing competition, rising prices of
medicines and strict governmental laws to limit adverse effects on the
environment. With advent of the eClinical solutions, such factors are
significantly diminished due numerous advantages provided with the use of the
eClinical technologies. Benefits associated with adoption of eClinical
solutions are superior performance, successful trials, reliability and short
timeframes for execution of clinical trial, and cost-effectiveness.
The
eClinical solutions market is divided into regional market segment such as
North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise adoption of modern
techniques in healthcare sector and presence of prominent industry players in
the region. Asia-Pacific region is predicted to hold major market share in the
eClinical solutions industry with massive growth in forecast period. Countries
such as India, China and Singapore are leading the Asia-Pacific market with
growing need for medical infrastructure and increasing occurrence of chronic
diseases like cancer and cardiovascular disorders. The key players in the
eClinical solutions market are IBM Inc., Oracle Co., Medidata Solutions
Incorporations, Bio Clinical Solutions, DATATRAK Incorporations, CRF Health
Solutions, ERT Inc., and eClinical Solutions.
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