E-Clinical Solutions Market Size, Share Report, Industry Analysis, Trends, Growth, 2030

E-Clinical Solutions Industry Prospective:

The global E-clinical solutions market size was worth around USD 7.9 billion in 2022 and is predicted to grow to around USD 20.47 billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.58% between 2023 and 2030.

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The report delves deeper into several crucial aspects of the global E-clinical solutions industry. It includes a detailed discussion of existing growth factors and restraints. Future growth opportunities and challenges that impact the E-clinical solutions market are comprehensively addressed in the report.

E-Clinical Solutions Market: Overview

Clinical research is a sub-segment of medicine. It deals with researching and determining the efficiency of devices, medications, and diagnostic tools that are used in the healthcare industry. Clinical research is one of the largest investments and activities carried out by companies operating in pharmaceutical, healthcare, and medical device manufacturing devices since all of these products have to undergo clinical trials and research.

When the outcome of the trial is positive, the products can be made available for commercial sale once they obtain the necessary approvals from regional agencies that regulate these products. Clinical trials and research are not only cost-intensive but also consumes a lot of time and effort which is a key challenge for the associated market players. E-clinical solutions are a set of technologies that work toward streamlining all the processes involved in clinical trials. It makes use of advanced systems to optimize, by integrating and automating, several aspects associated with clinical research.

Key Insights:

• As per the analysis shared by our research analyst, the global E-clinical solutions market is estimated to grow annually at a CAGR of around 7.58% over the forecast period (2023-2030)
• In terms of revenue, the global E-clinical solutions market size was valued at around USD 7.9 billion in 2022 and is predicted to grow to around USD 20.47 billion, by 2030.
• The E-clinical solutions market is projected to grow at a significant rate due to the growing complexities in drug development procedures
• Based on end-user segmentation, CROs were predicted to show maximum market share in the year 2022
• Based on product segmentation, Clinical Trial Management Systems (CTMS) were the leading product in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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E-Clinical Solutions Market: Growth Drivers

Growing complexities in drug development procedures to drive market growth

The global E-clinical solutions market is projected to grow due to the increasing complexities in drug development procedures. Regional governments and healthcare regulatory agencies have become strict with protocols surrounding drug approval for commercial purposes. Pharmaceutical companies and medical device makers have adopted an agile development approach where sub-segments such as clinical teams work independently for better output.

As the demand for higher-grade patient care has grown over the years, these companies are under tremendous pressure to ensure that they can keep up with changing consumer expectations. Moreover, drug developers are also looking for measures that allow asset optimization along with risk management.

E-clinical solutions are a means of offering a set of technologies that helps in automating certain processes and helps companies in managing resources more efficiently while saving time. Growing investments in clinical research for all types of medical conditions will contribute to higher adoption of E-clinical solutions. In December 2021, Pfizer inaugurated a state-of-the-art facility in Durham. It is a clinical manufacturing facility worth USD 68.5 million. Several other pharmaceutical companies have invested in building advanced clinical research facilities equipped with superior grad technology.

E-Clinical Solutions Market: Restraints

High implementation cost to restrict market expansion

E-clinical solutions can be costly, especially for companies with limited means and resources. Moreover, the associated cost is not only limited to product purchase but also deals with integration of the new systems in the existing technologies which can take time along with adding to the total cost. Phase IV clinical trials and research can cost anything between USD 50,000 to USD 150 million and smaller companies may be unable to spend more money on additional technologies such as E-clinical solutions. Although there is a scope to leverage the benefit of these solutions using software-as-a-service (SaaS) models, this would mean that drug developers have to rely heavily on third-party services and they will have less control over the systems.

E-Clinical Solutions Market: Opportunities

Increasing competition in the pharmaceutical industry to open growth avenues

The global E-clinical solutions market may come across higher growth opportunities led by the growing internal competition in the pharmaceutical industry across the globe. With changing expectations from drug producers along with the rising entry of new and domestic companies, pharmaceutical companies are currently seeking ways to stay ahead of their competitors.

For instance, in November 2022, CV6 Therapeutics, a leading drug development company, announced its plans to invest £8 toward first-stage clinical trials on CV6-168 which is the company’s first anti-cancer drug. Similarly in October 2022, the University of Texas MD Anderson Cancer Center, and the Focus Fund GP, LLC entered and launched an investment fund focused on advancement in cancer treatment therapies. Such initiatives are not limited to cancer research but can be witnessed for other diseases as well including rare autoimmune conditions and sexually transmitted diseases.

E-Clinical Solutions Market: Challenges

Limited adoption in emerging economies to challenge the market expansion

Since E-clinical solutions demand extensive application of key resources, the adoption rate of the technology has been limited in emerging economies. Although there is significant demand for these products in developed nations, it would be difficult for companies in the E-clinical solutions industry to understand the true performance efficiency and loopholes in the system unless they are adopted on a larger scale. However, budgetary restraints along with a lack of skilled labor to work with E-clinical solutions may add to the existing challenges in the global market.

E-Clinical Solutions Market: Report Scope

E-Clinical Solutions Market: Segmentation

The global E-clinical solutions market is segmented based on end-user, development phase, delivery mode, product, and region.

Based on end-user, the global market divisions are medical device manufacturers, CROs, hospitals / healthcare providers, pharma & biotech organizations, academic institutes, and others. The highest CAGR was observed in the contract research organizations (CROs) segment in 2022 with a contribution across 36.9% of the market share. During the forecast period, it is likely to grow at a CAGR of 14.1% as many companies are showing an inclination toward effective cost management.

The segmental growth may be driven by the growing demand and adoption of outsourced services which not only reflects in the cost parameters but also across productivity and focus on core competencies attributes. The pharma & biotech organization segment may also register substantial growth as pharma companies are currently witnessing intense competition from local and multinational players. 

Based on the development phase, the E-clinical solutions industry is divided into phase IV, phase III, phase II, and phase I. In 2022, around 51.02% of the market share was led by the phase III segment. In this phase, new drugs are compared on parameters such as effectiveness and safety against the existing medication in the market.

Phase III clinical trial is responsible for determining which drug is better against a certain treatment. As per studies, more than 58% of the drugs are unable to pass phase III trials which makes the use of E-clinical solutions in this segment more crucial. As per estimated, phase I segment may grow at a CAGR of 14.81% by 2030.

Based on delivery mode, the global market is divided into licensed enterprises, web-hosted, and others. In 2022, the web-hosted segment dominated industry growth with a market share of over 73%. Several attributes including ease of use along with the requirement of lower investments and access to a dedicated team of professionals are reasons for higher segmental growth. The majority of the web-hosted products offer customization along with showcasing a greater interoperability level. The cloud-based segment may grow at a CAGR of 15.01% driven by the flexibility offered and the availability of real-time data.

Based on product, the E-clinical solutions industry segments are clinical analytics platforms, electronic data capture (EDC), clinical data management system (CDMS), electronic trial master file (eTMF), electronic clinical outcome assessment (eCOA), randomization and trial supply management (RTSM), clinical trial management systems (CTMS), safety solutions, and others.

The CTMS segment accounted for nearly 22.1% of the market share thus acting as the key contributor. During the forecast period, eCOA is projected to become the fastest-growing segment with a CAGR of 15.21% as there is a growing demand for high-quality clinical data. The extensive application in clinician-reported, patient-reported, and observer-reported outcomes could trigger segmental dominance.

E-Clinical Solutions Market: Regional Analysis

North America to control more than 50% of the market share

The global E-clinical solutions market is expected to be led by North America as it may dominate close to 51.1% of the global revenue driven by the increasing research & development along with rising product launches in terms of E-clinical solutions. In recent times, the US government has announced multiple lucrative offers including grants for the players operating in the segment which could help in further growth. In October 2021, the US Food & Drugs Administration (FDA) awarded 11 grants that will be used in clinical trials for the development of medicines for treating rare diseases. The total grant value was around USD 25 million.

Additionally, a growing base of patients diagnosed with life-threatening conditions along with the presence of key players providing exceptionally advanced E-solutions services will help North America in further growth. An example is the November 2022 launch of the Rave companion introduced by Medidata. It is the first scalable solution that automates the entry of electronic health records (EHR) into Rave electronic data capture (EDC). Additionally, in February 2021, NeoGenomics and Parexel, both US-based companies, announced a partnership that will help in improving precision medicine applications in oncology clinical trials.

E-Clinical Solutions Market: Competitive Analysis

The global E-clinical solutions market is led by players like:

• Oracle Corporation
• Medidata Solutions Inc.
• ArisGlobal LLC
• MedNet Solutions
• DSG Inc.
• Parexel International Corporation
• IBM Corporation
• Bioclinica
• CRF Health
• Veeva Systems Inc.
• Datatrak International Inc.
• Bio-Optronics Inc.
• Forte Research Systems Inc.
• ERT Clinical
• eClinical Solutions LLC
• OmniComm Systems Inc.
• OpenClinica LLC
• PRA Health Sciences Inc.
• Medable Inc.
• Merge Healthcare

The global E-clinical solutions market is segmented as follows:

By End-User

• Medical Device Manufacturers
• CROs
• Hospitals / Healthcare Providers
• Pharma & Biotech Organizations
• Academic Institutes
• Others

By Development Phase

• Phase IV
• Phase III
• Phase II
• Phase I

By Delivery Mode

• Licensed Enterprise
• Web-Hosted
• Others

By Product

• Clinical Analytics Platforms
• Electronic Data Capture (EDC)
• Clinical Data Management Systems (CDMS)
• Electronic Trial Master File (eTMF)
• Electronic Clinical Outcome Assessment (eCOA)
• Randomization and Trial Supply Management (RTSM)
• Clinical Trial Management Systems (CTMS)
• Safety Solutions
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa