eClinical Solutions Will be $22.35 Billion Market by 2030, Says P&S Intelligence
NEW YORK, Nov. 22, 2022 /PRNewswire/ -- According to the latest market research report published by P&S Intelligence, in 2021, the value of the eClinical solutions market was $7.18 billion, and it is predicted to advance at a 13.4% CAGR in the years to come, to reach $22.35 billion in 2030.
The major reason for the growth of this industry is the increasing number of government policies and grants for supporting clinical trials.
Clinical Research Activities Increasing in Developing Nations
In the developing countries, North American and European pharmaceutical companies are focusing on increasing the number of clinical trials, mainly because of the cost efficiency, faster recruitment, and presence of a large number of patients.
Moreover, fewer logistical difficulties and the standardization of guidelines are contributing to the increasing count of clinical trials in emerging economies.
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Web-Based Delivery Is Most Used
In 2021, web-based delivery dominated the industry with an over 70% share. Because these solutions are customizable, healthcare facilities are able to use the medical data for several user groups.
Furthermore, this mode has many benefits, such as user-friendliness, easy accessibility, and cost efficiency.
Solution Demand Highest for Phase III Clinical Trials
In 2021, the phase III clinical trials category had the largest share, of around 54%. This can be credited to the surging need for adopting data management software in phase III trials for the enhancement of efficiency and the reduction of the cost.
Furthermore, the growth of this category is owed to the increasing number of drugs successfully reaching the phase III of trials. In this phase of drug development, the candidate is used on around 1,000 patients, to analyze its effects. eClinical solutions are needed for studying the data generated during the study, in order to reduce the chances of human error.
eCOA Solution Demand To Skyrocket in Coming Years
On the bases of product, the eCOA category is expected to grow at the highest rate in the coming years. The acceptance of eCOA solutions is rising to understand and analyze patient-, clinician-, and observer-reported outcomes of therapy with under-development and marketed drugs and devices.
Browse detailed report on eClinical Solutions Market Size, Share, Trends and Growth Analysis 2022-2030
Moreover, in 2021, the CROs category held the largest share, ascribed to the increasing usage of eClinical solutions for research in the pharmaceutical industry. It is because outsourcing the trials to CROs brings benefits such as an increased service efficiency, better productivity, and lower cost for the drug or device manufacturer.
Several pharmaceutical establishments are shifting to Asia and Eastern Europe for saving money by conducting low-cost trials. Therefore, the number of CROs is snowballing in these regions, thus driving the demand for eClinical solutions here.
Global eClinical Solutions Market Report Coverage
By Type
- Products
- Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS)
- Clinical Trial Management Systems (CTMS)
- Clinical Analytics Platforms
- Randomization and Trial Supply Management (RTSM)
- Clinical Data Integration Platforms
- Electronic Clinical Outcome Assessment (eCOA)
- Safety Solutions
- Electronic Trial Master File (eTMF)
- Professional Services
By Delivery Mode
- Web Based
- Cloud Based
- On-premise
By Clinical Trial Phase
- Phase I
- Phase II
- Phase III
- Phase IV
By End User
- Pharmaceutical and Biotechnology Companies
- Clinical Research Organizations (CROs)
- Healthcare Providers
Regional Analysis
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- Saudi Arabia
- South Africa
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About P&S Intelligence
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
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SOURCE P&S Intelligence
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