DUBLIN, Dec. 16, 2020 /PRNewswire/ -- The "e-Clinical Trial Technologies - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for e-Clinical Trial Technologies estimated at US$5.4 Billion in the year 2020, is projected to reach a revised size of US$9.9 Billion by 2027, growing at a CAGR of 8.9% over the analysis period 2020-2027. EDC, one of the segments analyzed in the report, is projected to record a 8.8% CAGR and reach US$4.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the RTSM segment is readjusted to a revised 8.1% CAGR for the next 7-year period.
The U. S. Market is Estimated at $1.6 Billion, While China is Forecast to Grow at 8.3% CAGR
The e-Clinical Trial Technologies market in the U. S. is estimated at US$1.6 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2027 trailing a CAGR of 8.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.2% and 7.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.3% CAGR.
CTMS Segment to Record 10.4% CAGR
In the global CTMS segment, USA, Canada, Japan, China and Europe will drive the 10.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$971 Million in the year 2020 will reach a projected size of US$2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2027.
The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
- CRF Health
- Datatrak International
- e-Clinical solutions Inc.
- Medidata Solutions
- OmniComm Systems
- Oracle Corporation
- PAREXEL International Corporation
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 and a Looming Global Recession
- A Prelude
- Cost-Containment: An Important Factor Increasing the Uptake of e-Clinical Trial Technologies
- Global Market Overview
- Outsourcing of Clinical Studies to Developing Countries Benefits Market
- Globalization Boosts e-Clinical Trials Market
- Key Challenges for e-Clinical Trials
- Role of Contract Research Organizations (CROs) in Clinical Activity
- Global Competitor Market Shares
- e-Clinical Trial Technologies Competitor Market Share Scenario Worldwide (in %): 2018 & 2029
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Surging Global Population Offers Increased Growth Opportunities
- Pharmaceutical Firms and CROs to Drive Adoption Rate
- Rise in Clinical Trial Complexities Propels e-Clinical Trial Technologies Demand
- CROs - The Targeted Customers for e-Clinical Trial Technologies
- Increased Importance of e-Clinical Integration
- Big Data and Patient Centricity: Areas to Increase Focus Upon
- Esource Documentation Witnesses Increased Traction
- Increased Adoption of electronic Trial Master File (eTMFs)
- Risk-Based Monitoring Witnesses New Modifications
- Growing Implementation of e-Consent
- Increased Investments in Virtual Clinical Trials
- Open Source - Emerging Solutions in Clinical Trials Domain
- Mobile Technologies to Help Trial Operators in Tackling Challenges
- Smartphones & Tablets: The New Age ePRO Devices
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- Total Companies Profiled: 85
For more information about this report visit https://www.researchandmarkets.com/r/ezh3sb
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