eClinical Solutions Market Size Poised To Reach USD 22.7 Billion By 2030


 San Francisco, 4 Dec 2023: The Report eClinical Solutions Market Size, Share & Trends Analysis Report By Product (Clinical Trial Management, Clinical Analytics Platforms), By Delivery Mode (Web & Cloud Based, On-premise), By Development Phase, By End-use, By Region, And Segment Forecasts, 2024 - 2030

The global eClinical solutions market size is expected to reach USD 22.7 billion by 2030, growing at a CAGR of 14.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing R&D activities by biopharma and pharma companies, application of software solutions in clinical trials, and expanding customer base are anticipated to fuel market growth. During COVID-19, clinical laboratories experienced high demand for COVID-19 tests. Clinical data management systems assisted these laboratories to seamlessly manage the huge influx of specimens daily. Technological advancements such as electronic data capture and Wi-Fi connectivity are projected to drive the market in the forthcoming years.

As the demand for tracking and analyzing clinical data increases, the need for effective clinical solutions rises. Unmet needs to manage efficient clinical development processes are poised to boost market growth over the forecast period. Moreover, digital transformation in the field of clinical trials and preference for data-centric approaches are providing a tremendous push to the market. Demand for integrated clinical IT solutions is increasing due to the massive volume of data generated during clinical development processes. eClinical solutions offer a single source of information that helps optimize the cost by eliminating redundant data entry and by reducing on-site verification and source data verification. Rising awareness regarding these advantages is projected to propel the market.

Increasing adoption of eClinical workflows in trials offers enormous potential in clinical development processes. These solutions can facilitate decision-making in each stage of development. It helps reduce cost and time between the development phase by utilizing seamless designs and identifying failing compounds. It offers rapid access to data and patient safety information, which helps make quick decisions. Market players engage in new product development and strategic alliances including partnership, agreement, promotional activities, etc. to keep market rivalry high. In August 2023, Sitero acquired Clarios eClinical technology suite to enhance clinical trial delivery. This acquisition demonstrates Sitero's dedication to remain at the forefront of innovation and offering its clients the best possible support and services.

Access Research Report of eClinical Solutions Market @ https://www.grandviewresearch.com/industry-analysis/eclinical-solutions-market

eClinical Solutions Market Report Highlights

  • Based on product, the CTMS segment led the market in 2023 and accounted for a revenue share of around 20.2% owing to benefits such as centralized end-to-end management of clinical trial activities, elimination of reliance on manual processes, real-time status tracking, and maintenance of multiple databases, which cumulatively improve the overall efficiency of clinical trials
  • Web and cloud-based systems are anticipated to exhibit an exponential CAGR during the forecast period owing to integrated features such as flexibility, high accessibility, negligible handling costs, and easy data backup. Real-time data is available through these systems, which enables users to take quick decisions and provide high-quality information for risk-based monitoring
  • Based on development phase, the phase III segment held the largest market share of 53.3% in 2023. Phase I segment is expected to grow at the fastest CAGR of 15.0% over the forecast period
  • Based on end-use, the CRO segment held the largest revenue share in 2023. The segment is projected to rise at a remarkable CAGR of 14.4% during the forecast period owing to the growing inclination of pharmaceutical companies to reduce overall expenditure

eClinical Solutions Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 10.3 billion

Revenue forecast in 2030

USD 22.7 billion

Growth rate

CAGR of 14.1% from 2024 to 2030

Base year for estimation

2023

Historical data

2018 - 2022

Forecast period

2024 - 2030

 List of Key Players in the eClinical Solutions Market

  • DATATRAK International, Inc
  • Oracle
  • Parexel International Corporation
  • Dassault Systemes
  • Bioclinica
  • CRF Health
  • ERT Clinical
  • eClinicalWorks
  • IBM Watson Health
  • Anju Life Sciences Software
  • eClinical Solutions

Access Press Release of eClinical Solutions Market @ https://www.grandviewresearch.com/press-release/global-eclinical-solutions-market

 

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