Uncategorized E-Clinical Solutions Market size worth $ 16.5 Billion, Globally, by 2028 at 12.4% CAGR: Verified Market Research® – Yahoo Finance
The increasing expenditure on clinical research and development in the pharmaceutical and biotechnology industry, the growing number of clinical trials, also rising need for improved data standardization, are the factors driving the market.
JERSEY CITY, N.J., Jan. 19, 2022 /PRNewswire/ — Verified Market Research recently published a report, "E-Clinical Solutions Market" By Type (Clinical Data Management System, Randomization and Trial Supply Management, Electronic Clinical Outcome Assessment), By Delivery Mode (Web-Based and Cloud-Based, Enterprise-Based), and By Geography. According to Verified Market Research, the Global E-Clinical Solutions Market size was valued at USD 6.5 Billion in 2020 and is projected to reach USD 16.5 Billion by 2028, growing at a CAGR of 12.4% from 2021 to 2028.
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202 – Pages
126 – Tables
37 – Figures
Global E-Clinical Solutions Market Overview
The attempts to invent treatments for numerous diseases, such as diabetes, cancer, and AIDS, are leading to increased spending by pharmaceutical, life sciences, clinical research, and biopharmaceutical firms, which is further driving the growth of the E-Clinical Solutions Market. The rising prevalence of chronic and lifestyle-related disorders, as well as the growing elderly population, are some factors propelling the E-Clinical Solutions Market forward.
As a result, the number of pharmaceuticals in development is increasing, which is leading to an increase in clinical trials. Countries such as China, India, and Poland have become popular locations for clinical trials among pharmaceutical companies in order to have a large pool of patients and reduce costs. However, the E-Clinical Solutions Market is being restrained by factors such as a long approval time for clinical trials, a lack of broadband facilities and IT specialists in rural locations, expensive implementation costs, and less-skilled manpower. Although e-clinical solutions are expensive, CROs, healthcare providers, and pharmaceutical and biotechnology companies are hesitant to utilize the technology.
The drug development process necessitates a significant financial investment, which is increased by the implementation of software, making it difficult for healthcare professionals to afford, restraining the growth of the E-Clinical Solutions Market. Furthermore, the increasing adoption of cloud technology for the development of e-clinical suits and the growing clinical research in emerging economies provide opportunities for players looking to invest in the E-Clinical Solutions Market.
Key Developments
In January 2021 – Bioclinica, a provider of integrated clinical life science and technology solutions, announced a collaboration with IKCON PHARMA to deliver best-in-class eClinical solutions to the pharmaceutical industry/sponsors.
In November 2020 – Signant Health acquired VirTrial, a leading provider of software solutions for remote site startup and decentralised clinical trial administration.
Key Players
The major players in the market are OmniComm Systems Inc, ERT, BioClinica, CRF Health Inc, DATATRAK International Inc, Medidata Solutions, Oracle Corporation, and PAREXEL International Corporation.
Verified Market Research has segmented the Global E-Clinical Solutions Market On the basis of Type, Delivery Mode, and Geography.
E-Clinical Solutions Market, By Type
E-Clinical Solutions Market, By Delivery Mode
E-Clinical Solutions Market by Geography
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