The Global 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.
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.
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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.
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.
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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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