According to a new study published by Polaris Market Research, the global eClinical solutions market is anticipated to reach over USD 12,985 million by 2026. In 2017, the CTMS segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global eClinical solutions market.
Government organizations across the globe have implemented
stringent guidelines to obtain error-free authentic clinical data due to the
burgeoning number of clinical data research. EClinical data software
facilitates processing of real-time data entries. Moreover, the need to process
massive amount of data in the least possible time increases the adoption of
these solutions.
The governments of various countries across the globe have
sanctioned funds to promote clinical research of novels drugs. Increase in
incidence of diseases across the globe has enforced government agencies to
expedite the process of drug approval. The adoption of clinical data management
systems has increased in the recent years to process the queueing molecules in
the development phase of clinical research.
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Technological advancements in eClinical software such as use of
cloud computing to secure the data and improve accessibility across remote
locations are expected to boost the market growth. Cloud based solution
software dominated the global market in 2017, owing to the ease of delivery and
convenience of upgrading to advanced versions. This segment has been gaining
traction in the recent years, and is expected to grow at the fastest rate
during the forecast period.
Several pharmaceutical organizations have deployed eClinical
solution software to comply with the norms of the regulatory bodies for
processing clinical data without errors and without any scope for manipulation.
According to the ALCOA standard, the use of electronic clinical outcome
assessments (eCOA) is essential in clinical trials, as these use smartphones,
tablets, and personal computers to allow patients, clinicians, and their
caregivers to directly report outcomes, which ensure highly productive data for
better understanding of patient experience and faster approval process.
Among end users, the CROs segment is expected to grow at the
fastest rate due to the ongoing trend of outsourcing clinical research
operations to these third party organizations to save time and cost. As most of
the drugs that have cleared Phase III clinical trials can be marketed
under FDA norms with proper recommendations and guidelines through a new drug
application (NDA), a majority of the drugs across the globe are in this phase
of clinical research. Hence, most of the clinical data management systems were
used for conducting phase III clinical trials.
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The key players profiled in the report are Oracle Corporation,
Parexel International Corporation, Medidata Solution, Inc., DataTrak
International, Inc., CRF Health, OmniComm Systems, BioClinica Inc., eResearch
Technology, eClinical Solutions, Inc., and PHT Corporation. The prominent
players operating in the industry have adopted various strategies such as
mergers and acquisition, product innovation and expansion, and R&D of
innovative products.
