Press Release

eClinical is a term used in a clinical study for electronic applications that are web-based tools used to collect live data from clinical trials. eClinical Solutions brings together clinical technology and expertise to enhance the clinical development process. Regulatory requirements are also increasing the need for large amounts of data that must be collected, organized and analyzed. Efficient eClinical technologies are essential to aggregate and standardize these data take necessary decisions at different stages of clinical trial process. It aids efficient planning, execution and tracking of this data from different geographic locations. It has simplified the acquisition of clinical research and analytics data. A few important features include real time reporting, configurable report building, real time notifications as well as device and drug tracking.

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Market Dynamics:
The eClinical solutions market is forecasted to grow at a CAGR of 12.1 % to reach USD 7.61 billion by the end of 2022. Owing to the large population and thus patient pools, countries like India and China are hosting many clinical trials; Government spending in clinical research has also fueled the need for the product. Increased outsourcing of clinical trials to contract research organizations along with alliances collaborations and acquisition for the development of clinical research further provides huge scope for new entrants in the market. Increased operational costs associated with clinical research studies is another major driving factor for this market. However, concerns over lack of skilled research professionals, lack of awareness of infrastructure in developing countries and patient data privacy could be impediments to its growth.

Market Segmentation:
Based on product, it can be segmented into Electronic Data Capture and Client Data Management Systems, Clinical trial management systems, Clinical Analytics Platform, Randomization and Trial Management Systems, Clinical Data Integration Platforms, Electronic Clinical Outcome Assessment, Electronic Trial Master Files, Regulatory Information Management Systems and Safety Solutions. Based on delivery mode, it can be segmented into Web hosted or On demand, License enterprise or On premise and Cloud based or SaaS. By clinical trial phase, it can be segmented into Phase I to IV. Finally, on end users, it can be segmented into Pharmaceutical and Biopharmaceutical companies, Contract Research Organizations, Consulting Service Companies, Medical Device Manufacturers, Hospitals and Academic Research institutions.

Geographic Analysis:
Emerging markets like China, Taiwan, South Korea and China are the most attractive markets for eClinical Solutions due to presence of low operating costs. Less stringent regulatory guidelines and growth of life science research are key factors for pushing the need in these emerging markets. North America was however the largest segment as of now followed by Europe. The large market in North America is due to the huge number of trials ongoing in the region. However, Asia Pacific recorded the highest CAGR.

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Key Players:
Some of the key players in the Industry are Oracle Corporation, PHT Corporation, Parexel International Corporation, Bio-Optronics Inc., Medidata Solution, Inc., MaxisIT Inc., BioClinica, OmniComm Systems Inc., DataTrak International, Inc., eClinical Solutions, CRF Health, ERT and Merge Health Incorporated.

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