The outsourcing of clinical trials to clinical research organizations creates refined and effective modules, driving the eClinical solutions market growth

Sellbyville, DE -- (SBWire) -- 11/20/2018 --eClinical Solutions Market size is witnessing a huge growth owing to factors such as a rise in the number of customers opting for eClinical solutions, rising research and development in this domain, and increase in government grants to validate the clinical trials. eClinical solutions are used in clinical studies, where they use electronic applications enabled with web tools to capture real-time data from clinical trials, which provide better execution and accelerate the eClinical solutions market.

Factors, such as real-time tracking, real-time reporting, real-time notifications, and configurable report building, are augmenting the industry growth. Furthermore, eClinical solutions make tasks, such as clinical data management, electronic data capture, data conversion and standardization, statistical programming, and data reporting, extremely easy driving the eClinical solutions market.

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Eclinical solutions make use of technology, products, and services to provide clinical trials, which reduce human errors and manage a large amount of clinical data with real-time analysis. Technological advancements in the field of eClinical solutions, improvement in efficiency offered by eClinical solutions, globalization of clinical trials, and reduced costs are the main drivers of the eClinical solutions market.
The shift from manual data interpretation to real-time data analysis during clinical studies, rising clinical research activities, and shift from AMCs to CROs offer major growth opportunities to the eClinical solutions market. Furthermore, the collaboration of AMC and CRO provides greater access to specialized expertise for specific therapeutic areas, which help in saving time and costs thus accelerating the industry demand.
Increased acceptance of the eClinical solutions among healthcare and pharma sector provides a major opportunity for industry growth. The outsourcing of clinical trials to clinical research organizations creates refined and effective modules, driving the eClinical solutions market growth.

eClinical solutions market can be segmented on the basis of product, delivery mode, and end user. The product can be sub-segmented into clinical data integration platforms, safety solution, Randomization and Trial Supply Management (RTSM), eCOA, Electronic Trial Master Files (ETMF), Clinical Analytics Platform, Electronic Data Capture (EDC,) and Clinical Data Management System (CDMS). The EDC and CDMS are leading the eClinical solutions market and electronics Clinical Outcome Assessment (eCOA) segment has the highest growth rate.

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The end-user segment includes contract research organizations, medical device manufacturers, consulting service companies, hospitals, pharmaceutical companies, and academic research organizations. The pharmaceutical industry is leading the eClinical solutions market as it assists in carrying out day-to-day operations such as conducting study feasibility, providing a centralized place to carry out trial related information, and improved clinical data management by equipping staff and data administers.
North America dominates the eClinical solutions market owing to the rise in the number of clinical trials in this region. Technological advancements, huge funding in R&D activities, rising government grants for clinical trials, and an increase in the lifestyle-related diseases are factors driving the industry growth in this region. Continuous product development and new product launches by eClinical solution vendors also result in a rise of the eClinical solutions market in this region.

Asia Pacific is anticipated to grow at a rapid rate over the forecast timespan due to the rising investment in R&D and development of emerging economies. These emerging economies, such as India, China, and Korea, have become major destinations for the outsourcing of clinical trials owing to the huge populations and also the low-cost services they provide. Furthermore, the presence of a large patient base, lesser stringent laws as compared to developed countries, and faster patient recruitment for clinical trials shall augment the regional growth.

The main players operating in the eClinical solutions market include Oracle Corporation, ERT, Parexel International Corporation, BioClinica, CRF Health, eClinical Solutions, OmniComm Systems, Datatrak International, Merge Health Incorporated, and PHT Corporation. These major players are engaged in strategies such as agreements, partnerships, mergers and acquisitions, and new product launches, and collaborations to attain a competitive edge in the eClinical solutions market.

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