The global market is expected to enjoy a valuation of USD 9.3 Billion by the end of the year 2023, and further expand at a CAGR of 12.1% to reach a valuation of USD 29.1 Billion by the year 2033.
According to the recent study by Future Market Insights, clinical data management systems (CDMS) are leading the market with an expected share of about 22.6% in the year 2023, within the global market.
Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2022 | USD 8.4 Billion |
| Market Value 2023 | USD 9.3 Billion |
| Market Value 2033 | USD 29.1 Billion |
| CAGR 2023 to 2033 | 12.1% |
| Market Share of Top 5 Countries | 59.5% |
| Key Market Players List | Oracle, Datatrak International, Inc., Dassault Systemes, CRF Health, eClinicalWorks, Parexel International Corporation, Bioclinica, eClinical Solutions, IBM Watson Health, Anju Life Sciences Software, and ERT Clinical |
Increased funding for clinical research and the life sciences will help insure that eClinical solutions software is widely used, supporting the expansion of the eClinical solutions market.
The market size for eClinical solutions and software is anticipated to soar as a result of biopharmaceutical and pharmaceutical businesses increasing their research and development efforts in line with the increased use of software solutions in clinical trials.
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The market value for eclinical solutions and software was around 2.9% of the overall ~USD 286.4 Billion of the global digital health market in 2022.
The sale of eclinical solutions and software expanded at a CAGR of 10.6% from 2017 to 2022.
The COVID-19 epidemic has caused the market to change. The bulk of biotech and pharmaceutical businesses have focused their research and development efforts on helping to develop a COVID-19 vaccine. Numerous businesses have made large investments in analytics to combat COVID-19.
The pandemic caused some clinical trials to transition to a fully virtual/hybrid paradigm, which sharply increased demand for eClinical products and software.
The COVID-19 outbreak is anticipated to hasten the move toward digital workplace practices in the clinical trial industry while also bringing about long-term modifications to trial management norms. It might be a significant gain for all eClinical software firms if virtual and remote working modes show to be practical ways to conduct studies.
To address the specific needs of contemporary eClinical trial management, they will need a comprehensive eClinical works portal and trial platforms that adapt to evolving unmet needs.
Thus, owing to the aforementioned factors, the global eclinical solutions and software market is expected to grow at a CAGR of 12.1% during the forecast period between 2023 and 2033.
| Market Statistics | Details |
|---|---|
| Jan - Jun (H1), 2021 (A) | 9.20% |
| Jul - Dec (H2), 2021 (A) | 11.88% |
| Jan - Jun (H1),2022 Projected (P) | 9.20% |
| Jan - Jun (H1),2022 Outlook (O) | 9.73% |
| Jul - Dec (H2), 2022 Outlook (O) | 12.08% |
| Jul - Dec (H2), 2022 Projected (P) | 11.45% |
| Jan - Jun (H1), 2023 Projected (P) | 9.81% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | 53↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | 52↑ |
| BPS Change: H2, 2022 (O) - H2, 2022 (P) | 63↑ |
| BPS Change: H2, 2022 (O) - H2, 2021 (A) | 20↑ |
Principal Consultant
The need for tracking and evaluating clinical data is anticipated to increase dramatically as the volume of data produced throughout clinical development processes rises. The size of the market for eClinical software and solutions in clinical trials grows as a result.
Clinical trial efficiency is increased, expenditures are decreased, and duplicated data entry is eliminated thanks to eClinical technologies. The aforementioned factors are expected to cause the market for eClinical solutions and software to expand.
The market forecast for eClinical solutions and software is anticipated to be positively impacted by the rapid adoption of tools like RTSM for patient enrollment and randomization as well as effective trial drug supply management.
The outsourcing of clinical trials to contract research organizations (CROs) and the growth of CROs and life sciences firms are both expected to drive the industry ahead in the future years. Growing research initiatives in Asian nations and the development of affordable modules are also fueling the expansion of the global market.
The high initial cost mixed with ongoing maintenance expenditures is one of the primary barriers to the market trends and forecasts for eClinical systems and software.
The cost of eClinical Works is anticipated to increase further if eClinical Works software is adopted, which requires a sizeable investment. Given that some sponsors are concentrating on conducting multi-site clinical trials concurrently, the price of eClinical services is anticipated to increase even more swiftly.
There are several challenges in the way of providing high-quality, cheap, and accessible healthcare in low- and middle-income nations. Increasing regulatory hurdles are made worse by increasing clinical trial complexity and data volumes, which will limit the demand for eClinical solutions and software in the coming years.
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| Country | USA |
|---|---|
| Market Share 2023 | 36.7% |
| Market Share 2033 | 44.6% |
| BPS Analysis | 791 |
| Country | Germany |
|---|---|
| Market Share 2023 | 7.7% |
| Market Share 2033 | 8.7% |
| BPS Analysis | 95 |
| Country | United Kingdom |
|---|---|
| Market Share 2023 | 5.7% |
| Market Share 2033 | 9.2% |
| BPS Analysis | 349 |
| Country | China |
|---|---|
| Market Share 2023 | 4.6% |
| Market Share 2033 | 3.6% |
| BPS Analysis | -99 |
| Country | Canada |
|---|---|
| Market Share 2023 | 4.3% |
| Market Share 2033 | 3.9% |
| BPS Analysis | -32 |
The USA is set to hold a market share of about 39.3% in 2023, and is expected to continue to experience the same growth throughout the forecast period.
This is due to the expanding target population and rising rates of lifestyle-related disorders including diabetes and heart conditions, which are anticipated to drive future trends in the eClinical solutions and software industry.
The launch of new products by providers of eClinical solutions and a rise in government funds are further boosting the market in the nation.
Germany is set to hold a market share of nearly 7.3% in the global eclinical solutions and software market in 2022.
This is because of the existence of notable players and the accessibility of advanced infrastructure within the nation. The market for eClinical solutions is expanding because of a growing emphasis on research and development capabilities for medical devices and the adoption of advanced healthcare technology, as well as improved IT spending allocations for drug development and rising costs for the establishment of healthcare infrastructure.
China is set to expand at 8.7% CAGR over the forecast period.
The demand for eClinical solutions and software is being fueled by the significant unmet medical requirements in the nation as well as the increased prevalence of targeting chronic diseases including cancer, cardiovascular problems, and infectious diseases.
More studies are being outsourced to China because of the country's enormous patient population and inexpensive cost. Sales of eClinical software and solutions have peaked in China as a result of this outsourcing.
Government investment for research and drug development, which is a major driver of the region's growth as an emerging economy, is anticipated to bode well for key trends and prospects in the market for eClinical solutions and software.
Clinical data management systems (CDMS) are set to hold a share of around 22.6% in the global market, in 2023.
A technology used in clinical research to handle and maintain the data from a clinical trial is called a clinical data management system, or CDMS. Different techniques are employed by CDMS to evaluate clinical data and reduce errors brought on by human error during manual entry.
It is frequently integrated into current Clinical Trial Management Systems (CTMS) software; however, companies in the field more frequently sell these 2 components separately.
Web hosted (on-demand) solutions are set to hold a share of around 67.3% in the global market, in 2023.
The idea of on-demand services fits particularly well with cloud computing, which makes it simple and affordable to access server or virtual machine provision. The increased popularity for web-hosted solutions can be due to associated advantages including simplicity of use, usability, and far less financial outlay.
Phase III is set to hold a share of around 46.7% in the global market, in 2023.
Owed to the growing number of novel drug development activities, as well as the rising volumes of ongoing clinical trials, successful completion of initial assessment brings the drug product into the phase III of clinical trials.
With a large number of such discoveries in their phase III of trials, this segment is under focus. Rising prevalence of diseases has propelled the growth of this segment.
Contract research organizations are set to hold a market share of around 35.8% in the global market in 2023.
Clinical trial outsourcing has gained momentum in recent years due to the contract research organizations’ (CROs) expansion of their areas of expertise.
Clinical trial solutions that are effective, rapid, and dependable are now essential due to the demand for evolving medical technology and pharmaceutical treatments. Most of these trials take a lot of time, and they require medical knowledge to be successful.
The market is incredibly competitive and expanding as a result of rising technology adoption as well as smaller and mid-sized sponsors.
The firm concentration ratio is anticipated to increase due to rising tendencies in the eClinical solutions and software industry in regions like Asia Pacific and South America, creating possibilities for smaller enterprises to expand.
Further, it has been shown that eClinical software businesses are pursuing a number of growth approaches, such as partnerships, acquisitions and mergers and development of new products, all of which are helping them to increase their market share.
Similarly, recent developments have been tracked by the team at Future Market Insights related to companies in the eclinical solutions and software space, which are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania and Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, United Kingdom, Germany, Italy, Russia, Spain, France, BENELUX, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Türkiye, GCC Countries, North Africa, and South Africa |
| Key Market Segments Covered | Solution, Delivery Mode, Clinical Trial, End User, and Region |
| Key Companies Covered | Oracle; Datatrak International, Inc.; Dassault Systemes; CRF Health; eClinicalWorks; Parexel International Corporation; Bioclinica; eClinical Solutions; IBM Watson Health; Anju Life Sciences Software; ERT Clinical |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Pricing | Available upon Request |
The market is valued at USD 9.3 billion in 2023.
Dassault Systemes, CRF Health, and eClinicalWorks are prominent market players.
The market is forecast to register a CAGR of 12.1% through 2033.
The market will reach USD 29.1 billion by 2033.
From 2017 to 2022, the market registered a CAGR of 10.6%.
1. Executive Summary | eClinical Solutions and Software Market 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Market Background 6. Global Market Demand (in Value or Size in USD Million) Analysis 2017 to 2022 and Forecast, 2023 to 2033 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Solution 7.1. Randomization & Trial Management (RTSM) 7.2. Clinical Data Management System (CDSM) 7.3. Clinical Trial Management System (CLMS) 7.4. Electronic Clinical Outcome Assessment (eCOA) 7.5. Electronic Trial Master File (eTMF) 7.6. Electronic Data Capture 7.7. Others 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Delivery Mode 8.1. Licensed Enterprise (On-premise) Solution 8.2. Cloud-based (SAAS) Solution 8.3. Web-hosted (on-demand) Solution 9. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Clinical Trial 9.1. Phase I 9.2. Phase II 9.3. Phase III 9.4. Phase IV 10. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End User 10.1. Contract Research Organization 10.2. Medical Device Companies 10.3. Pharma/Biotech Companies 10.4. Hospitals & Clinics 10.5. Others 11. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. East Asia 11.5. South Asia 11.6. Oceania 11.7. Middle East and Africa (MEA) 12. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033 13. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033 14. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033 15. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033 16. South Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033 17. Oceania Market Analysis 2017 to 2022 and Forecast 2023 to 2033 18. Middle East and Africa (MEA) Market Analysis 2017 to 2022 and Forecast 2023 to 2033 19. Market Structure Analysis 20. Competition Analysis 20.1. Oracle 20.2. Datatrak International, Inc. 20.3. Dassault Systemes 20.4. CRF Health 20.5. eClinicalWorks 20.6. Parexel International Corporation 20.7. Bioclinica 20.8. eClinical Solutions 20.9. IBM Watson Health 20.10. Anju Life Sciences Software 20.11. ERT Clinical 21. Assumptions and Acronyms Used 22. Research Methodology
Healthcare
June 2024
REP-GB-14775
250 pages
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eClinical Solutions and Software Market
