New York, NY, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “E-Clinical Solution Software Market By Product (Electronic Trial Master Files, Electronic Data Capture and Clinical Data Management Systems, Clinical Outcome Assessment, Clinical Analytics Platform, Randomization, and Trial Supply Management, Clinical Data Integration Platform, Regulatory Information Management Solutions, Safety Solutions, and Others), By Delivery Mode (Licensed Enterprise, Web Hosted, and Cloud-Based), By Clinical Trials (Phase I, Phase II, Phase III, and Phase IV), By End-User (Contract Research Organizations, Medical Device Manufacturers, Academic Research Institutions, Pharmaceutical, and Biopharmaceutical Companies, Consulting Service Companies, and Hospitals): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
According to the research study, the global E-Clinical Solution Software Market was estimated at USD 2.4 billion in 2019 and is expected to reach USD 10.9 billion by 2026. The global E-Clinical Solution Software Market is expected to grow at a compound annual growth rate (CAGR) of 13% from 2019 to 2026.
The Global E-Clinical Solution Software Market Is Powered By Increase in clinical trials and higher investments in R&D activities in the fields of life science and pharmaceuticals.
The type of software which helps the researchers in tracking, analyzing o managing the data related to clinical is termed e-clinical solution software. This software is widely used by biotechnology, pharmaceutical companies, and research organizations for medical device designing to coagulate the data for clinical research by the use of modern cutting edge technology. There is a need for a clinical trial for judging the safety and efficiency of drugs, medical devices, and therapeutic products before their launch in the market. The high growth of the internet globally and the easy access availability will propel the market growth. Additionally, higher efficacy as well as credible data analysis as compared to the conventional process will enhance the players to adopt this e-clinical solution software for clinical-based trials.
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- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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The high rise in clinical trials, as well as research and development in life sciences and pharmaceutical sectors, is growing the market of e-clinical solution software globally. Also, there is a rise in diseases that support clinical trials in various regions. Lifestyle-related diseases, as well as genetic disorders in North African and the Middle East countries, have also enhanced the clinical trials. Moreover, the pharmaceutical industry is witnessing high pressure to improve the productivity of drugs and to also reduce the time required for clinical trials. E-clinical software is accepted by industry verticals such as pharmaceuticals, clinical research organizations among others.
Top Market Players:
- Medidata Solutions Inc
- Merge Healthcare Incorporated
- BioClinica Inc.
- Bio-Optronics Inc.
- DATATRAK International
- ERT
- MaxisIT Inc.
- CRF Health
- eClinical Solutions Inc.
- PAREXEL International Corporation
- OmniComm Systems Inc.
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E-Clinical Solution Software Market: Growth Drivers
The high demand for the production of new drugs by the use of clinical trials and research and development activities is expected to boost the demand for the e-clinical solution software market globally. The market is also growing because of the increase in the need for efficient data management and also standardization of the data. There are numerous benefits that are associated with e-clinical solution softwares such as reduction of time in clinical trials, improvement in the productivity of drugs due to which the end-use industries will adopt this latest technology. The topmost end-use industries in the e-clinical solution software are pharmaceutical companies, the healthcare sector, and clinical research organizations. Among these end-use industries, the pharmaceutical sector will be of high market share because most of the companies are focusing on the innovation of a new line of drugs.
E-Clinical Solution Software Market: Key Segments
The market for e-clinical solution software is segmented based on delivery mode, product, clinical trial phase, end-user, and region. Based on product the market is bifurcated into electronic trial master files, electronic data capture and clinical data management systems, clinical outcome assessment, clinical analytics platform, randomization, and trial supply management, clinical data integration platform, regulatory information management solutions, safety solutions, and others. On the basis of delivery mode, the market is segregated into the licensed enterprise, web-hosted, and cloud-based. Further in terms of clinical trials, the market is categorized into phase I, phase II phase III, phase IV.
Global E-Clinical Solution Software Market: Product Analysis
- Electronic Trail Master Files
- Electronic Data Capture and Clinical Data Management Systems
- Clinical Outcome Assessment
- Clinical Analytics Platform
- Randomization and Trial Supply Management
- Clinical Data Integration Platform
- Regulatory Information Management Solutions
- Safety Solutions
- Others
Global E-Clinical Solution Software Market: Delivery Mode Analysis
- Licensed Enterprise
- Web Hosted
- Cloud-Based
Global E-Clinical Solution Software Market: Clinical Trials Analysis
- Phase I
- Phase II
- Phase III
- Phase IV
Global E-Clinical Solution Software Market: End-User Analysis
- Contract Research Organizations
- Medical Device Manufacturers
- Academic Research Institutions
- Pharmaceutical and Biopharmaceutical Companies
- Consulting Service Companies
- Hospitals
Browse the full “E-Clinical Solution Software Market By Product (Electronic Trail Master Files, Electronic Data Capture and Clinical Data Management Systems, Clinical Outcome Assessment, Clinical Analytics Platform, Randomization, and Trial Supply Management, Clinical Data Integration Platform, Regulatory Information Management Solutions, Safety Solutions, and Others), By Delivery Mode (Licensed Enterprise, Web Hosted, and Cloud-Based), By Clinical Trials (Phase I, Phase II, Phase III, and Phase IV), By End-User (Contract Research Organizations, Medical Device Manufacturers, Academic Research Institutions, Pharmaceutical and Biopharmaceutical Companies, Consulting Service Companies, and Hospitals): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/e-clinical-solution-software-market
The global e-clinical solution software market is experiencing significant growth that is expected to continue over the upcoming years. Also, the high demand for the production of new drugs by the use of clinical trials and research and development activities is expected to boost the demand for the e-clinical solution software market globally. The market is also growing because of the increase in the need for efficient data management and also standardization of the data.
The e-clinical solution software market research report delivers an acute valuation and taxonomy of the e-clinical solution software industry by practically splitting the market on the basis of different products, delivery modes, clinical trials, end-users, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
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E-Clinical Solution Software Market: Regional Analysis
In terms of geography, North America will dominate the market due to the rise in preference for advancement in technology by organizations and institutes. Also, the increase in investments by the government, the number of clinical trials, and the growth of pharmaceutical companies are some of the major factors due to which there is a huge rise in the North American region.
Key Insights from Primary Research
- As per our primary respondents, the global e-clinical solution software market is set to grow annually at a rate of around 13%, and the revenue was valued at around USD 2.4 Billion in 2019.
- North America held the largest market share in 2019due to the rise in preference for advancement in technology by the organizations and institutes.
- On basis of the “Product” segment, the randomization and trial supply management segment dominated the global e-clinical solution software market due to the rise in pharmaceutical companies for clinical trials of drugs.
- On basis of the “End-User” segment, the clinical research organizations segment dominated the global e-clinical solution software market because it is widely used in this industry for the production of new drugs.
- The presence of well-established players has intensified the industry rivalry, due to which the degree of competition is considerably higher.
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