From USD 5.7 billion in 2019, the global eClinical solutions market is predicted to grow to USD 13.4 billion by 2025, registering a CAGR of 14.0% during the forecast period (2020–2025). The market has witnessed huge demand for electronic data capture, and clinical data management system over the last few years, owing to the increasing demand for improved data standardization. Different types of solutions such as electronic data capture (EDC) and clinical data management system (CDMS), clinical trial management system (CTMS), clinical analytics platforms, and randomization and trial supply management are majorly contributing to the global eClinical solutions market size.
The key drivers driving the growth of the global eClinical solutions market are the increasing number of clinical trials, growing clinical trial outsourcing, rising implementation of software solution during clinical trials, budding demand for improved data standardization, expanding government grants to support clinical research, mounting demand for analyzing and tracking data and expanding research and development expenditure by pharma and biotech companies.
Around the globe, North America was the largest user of eClinical solutions in 2019, primarily due to a large number of industry players operating the North American market. Additionally, increasing demand for improved data standardization and increase in spends on research and development by pharmaceutical and biotechnology companies are also fueling the growth of the North American eClinical solutions market.
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Asia-Pacific market is predicted to witness fastest growth in the global eClinical solutions market during the forecast period (2020–2025). The major factors driving the growth of the market in the APAC region are huge population base, easy patient recruitment, and the existence of less strict regulatory standards. Additionally, growing government sponsoring to strengthen clinical trials, the less operational cost for clinical trials, increasing healthcare expenditure, increasing outsourcing of clinical trials, and growing number of pharmaceutical companies and CROs are also boosting the growth of the Asia-Pacific eClinical solutions industry.
Key market players in the global eClinical solutions industry are investing capital to develop technologically advanced systems. In February 2018, OmniComm Systems, Inc. acquired Algorics, to enhance its product portfolio in a clinical analytics solution.
The major players in the global eClinical solutions market are Oracle Corporation, PAREXEL International Corporation Medidata Solutions, Inc., DATATRAK International, Inc., eClinical Solutions, Inc., Bio-Optronics, Inc., ERT, MaxisIT Inc., and OmniComm Systems, Inc.
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