eClinical Solutions Market Expected to Reach $21.50 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “eClinical Solutions Market," The eClinical solutions market was valued at $6.82 billion in 2021, and is estimated to reach $21.50 billion by 2031, growing at a CAGR of 12.2% from 2022 to 2031.The global eClinical solutions market was valued at $6,816.17 million in 2021, and is estimated to reach $21,502.95 million by 2031, growing at a CAGR of 12.2% from 2022 to 2031.

eClinical solutions are software-based solutions used for effective management and integration of data generated during clinical trials. It is commonly used in clinical trials for drug development process in all phases and for medical device developments. In eClinical solutions, software is used for registration of patients, generation of clinical research outcomes, monitoring of adverse effects, and complaint submission. Thus, it narrows drug development procedure by integration of data, which is an upcoming eClinical solutions market trends. Increase in clinical trials, surge in demand for electronic data capture (EDC) & clinical data, management (CDMS), clinical trial management system (CTMS), and randomization & trial supply management (RTMS) majorly drives the market growth. In addition, it is an effective solution for hassel free management of the clinical trials. Moreover, higher adoption rate of eClinical software among clinical research organization, pharmaceutical companies, and contract research organizations flourishes the eClinical solutions market growth.

Furthermore, innovations, development of advanced technologies, key strategies adopted by key players, and increasing awareness for clinical software fuel the market growth. However, high capital cost is expected to hinder the market growth. Conversely, technological advancement and rise in drug and medical devices development increase the number of clinical trials. Thus, creating a great opportunity for key players to invest during the forecast period in eClinical solutions industry, especially in the developing economies.

Depending on product, the electronic data capture (EDC) & clinical data management systems (CDMS) segment dominated the market in 2021, with $1789.1 million owing to the quality of information captured, streamlines data collection procedures, and offers effective data analysis. The electronic clinical outcome assessment segment is expected to witness highest CAGR of 13.4% during the forecast period owing to rise in significance of high-quality clinical data.

Depending on delivery mode, the web-hosted segment dominated the market in 2021, with $2973.24 million owing to these products having a greater level of interoperability. The cloud-based segment is expected to witness highest CAGR of 13.4% during the forecast period owing to flexibility, high accessibility, negligible handling costs, and easy data backup.

Depending on clinical trials, the phase II segment dominated the eClinical solutions market share in 2021, with $2178.6 million owing to increasing number of drugs successfully reaching phase III. The phase I segment is expected to witness highest CAGR of 13.0% during the forecast period owing to high significance of these systems to predict future outcomes and eliminate drug candidates possessing the least probability of success.

Depending on end user, the contract research organization segment dominated the eClinical solutions market size and is expected to witness highest CAGR of 12.6% during the forecast period owing to inclination of pharmaceutical companies to reduce overall expenditure improved clinical trials and streamlined research workload.

 Key findings of the study
•    By type, the electronic data capture (EDC) & clinical data management systems (CDMS) segment was the highest contributor to the market in 2021.
•    By delivery mode, the web-hosted segment was the highest contributor to the market in 2021.
•    By clinical trial, the Phase II segment was the highest contributor to the market in 2021.
•    By end user, the contract research organization segment was highest contributor in 2021, and is expected to continue this trend during the forecast period.
•    Region-wise, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.