eClinical Solutions Market To Generate Revenue Worth $22.35 Billion by 2030

The global eClinical solutions market size is projected to reach $22.35 billion by 2030, advancing at a CAGR of 13.4% during 2021–2030. This will prominently be due to the increasing expenditure on research and development in the pharmaceutical and biotechnology industry, the rising number of trials, the surging need for improved data standardization, and the growing trial outsourcing.

A clinical trial is the most time-consuming phase of drug development. The eClinical solution is beneficial to reduce the time spent on analyzing and gathering data in trial phases. It helps to make the analysis faster than on paper and introduce those drugs more rapidly in the sector. Thus, the increasing need for enhanced data standardization and a decrease in the time spent during the drug trial is driving the market growth.

Clinical Trial Management Systems Dominate the Market

The CTMs category held the largest market share, of more than 20%, in 2021. This is attributed to several benefits offered by them such as effective data analysis, streamlined data collection procedures, and high-quality captured data.

Web-Based Delivery Mode Leads the Market

The web-based delivery mode accounted for the largest revenue size in 2021, driven by several benefits such as ease to use, better accessibility, and lower investment costs. The web-based eClinical solution is software that offers tools to capture medical data for faster and better execution. It can be securely accessed from any computer with an internet connection. The web-based applications have been attractive for drug developers, due to low maintenance and IT infrastructure requirements than locally operated software. It allows end-to-end clinical study management for sponsors, CROs, phase 1 centers, and academic research centers.

A web-based clinical trial management system is designed to support the R&D functions in the biotechnology, pharmaceutical, and medical device industries. It is also used to collect electronic patient-reported outcomes (ePRO); manage drug ordering and inventory; improve patient compliance through the use of reminders and alerts in tracking, modeling, and planning patient enrollment; and schedule and track patient visits.

Clinical Research Organizations Account for Highest Market Share

Among various end users, the CROs category accounted for the largest revenue share in 2021, on account of the increasing number of life sciences organizations and CROs, and augmenting trend of outsourcing clinical phases to CROs. These organizations use eClinical solutions to offer tools and services to assist research teams, provide standardized management for research studies, and improve research integrity and quality of trials by streamlining workflow processes. Moreover, these solutions improve the efficacy of data collection and validation, shorten the time taken between study completion and report publication, increase productivity by using single clinical trial information, and reduce the need for internal staff.

APAC Market To Record Highest CAGR

The APAC eClinical solutions market is expected to witness the highest CAGR, of more tjan 14%, in the forecast period. This can be on account of the surging prevalence of numerous chronic diseases like cardiovascular diseases, infectious diseases, and cancer. In addition, the increase in government R&D spending, less cost of performing trials in APAC, and easy patient recruitment are expected to offer lucrative opportunities to industry players operating in the region.

The major players in the eClinical solutions market are Datatrak International Inc., Oracle Corporation, Parexel International Corporation, Dassault Systèmes S.A., Bioclinica Inc., Medidata Solutions Inc., DATATRAK International Inc., eClinicalWorks, IBM Watson Health, and eClinical Solutions LLC.