eClinical Solutions Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025

eClinical Solutions is used to enhance the clinical development process through data analysis and data management. It provides total transparency and utilization of the operational and clinical data. The solution provider does this by providing data management solutions and customized data management services, that includes clinical reporting, electronic data capture (EDC), data standardization, data management, and clinical data repository platform. The applications and advantages of eClinical solutions helps users to manage, analyze, standardize, and integrate all their operational and clinical data with the help of analytical capabilities and integrated advanced visualization. The software such as Clinical trial managements system (CTMS) in eClinical solutions helps user in patient management, compliance with government regulations, budgeting, investigator management, adverse event reporting system, and for some other functions.

Growing public and private funding for clinical research is contributing to the growth of eClinical solutions market globally

Increase in application of software solutions in clinical trials is the major driving factor for the growth of eClinical Solutions market. Additionally, other factors contributing in the  progress of eClinical solutions market includes growing research and development by various pharmaceuticals and biopharma companies and increase in investment by government to promote clinical research programs. According to data published by Australian Government Department of Health in 2017, the government is expected to invest US$5 million in new clinical trial activity for young adults and adolescents with cancer. Growing number of Contract Research Organizations, rising customer base, and growing public and private funding are also fuelling to the growth of eClinical solutions market. According to the data given by World Health Organization (WHO) bulletin 2012, in U.K. around 83.9% philanthropic and public fund goes to clinical research and basic research.

However, restraints which are likely to hamper the growth of eClinical solutions market includes high cost of eClinical solutions for implementation, lack of skilled labors, patient privacy issues, and low awareness about the software of clinical data analysis.

Increase in use of mobile and digital technologies is owing to growth in shares of EDC and CDMS segment in the eClinical Solutions market

The global eClinical solutions market is segmented by delivery mode, by product, by clinical trials, by end users, and by regions.

On the basis of delivery mode, the eClinical solutions market is segmented into:

  • Licensed enterprise
  • Cloud based
  • Web hosted

On the basis of product, the eClinical solutions market is segmented into:

  • Electronic data capture
  • Electronic clinical outcome assessment
  • Clinical data- management system
  • Clinical trial- management system
  • Clinical analytics platform
  • Randomization and Trial Supply Management
  • Electronic trial master file
  • others

On the basis of clinical trials, the eClinical solutions market is segmented into:

  • Phase 1
  • Phase 2
  • Phase 3
  • Phase 4

On the basis of end user, the eClinical solutions market is segmented into:

  • Pharmaceutical and Biopharmaceutical companies
  • Hospitals
  • Consulting servicing companies
  • Research Organizations
  • Medical device manufacturers

Increase in investment by government for clinical research area is helping North America to dominate in the eClinical solutions market

Regional segmentation of eClinical solutions market by Coherent Market Insights comprises of North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the eClinical solutions market due to increase in demand of technologically advanced products, rising financial support from government, and growing number of clinical trials.  For instance, the data given in Budget of the U.S. government for 2013 showed the investment of US$140.8 billion for research and development out of which US$30.7 billion was used for biomedical and clinical research. Asia Pacific is also expected to progress in the eClinical solutions market, owing to rising outsourcing of clinical trials study by biopharma and pharmaceutical companies and low operating cost for conducting clinical trials in this region.

The industry players are adopting the strategy of partnership and agreement for business expansion in eClinical solutions market

Key industry players operating the eClinical solutions market includes Medidata Solutions Incorporated, Oracle Co., DATATRAK International Inc., BioClinica Inc., PAREXEL International Co., CRF Health, MaxisIT Inc., eClinical Solutions Inc., Merge Healthcare Inc., and OmniComm Systems Inc. The major industry players are adopting the strategies such as product enhancement, partnerships and agreements for new product development, and deployment strategy to sustain and progress in the highly competitive eClinical solutions market. For instance, eClinicalWorks Company is in partnership with the many other companies such as with MIDMARK which is a manufacturer of medical devices and also with SureScript for ePrescribing to provide the service according to client specifications.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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