KennethResearch published a report titled eClinicalSolutions Market: Global Demand Analysis& Opportunity Outlook 2031” which delivers detailed overview of theglobal eclinical solutions market in terms of market segmentation by producttype, delivery mode, end users, and by region.
Further,for the in-depth analysis, the report encompasses the industry growth indicators,restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
Theglobal eclinical solutions market garnered an approximate revenue figure of USD7.5 billion in year 2021 and is expected to grow at a CAGR of ~15% over the forecast period, i.e., 2022 – 2031. On the basis of delivery mode, the market is segmented into web-based, on premise,and cloud. Among these, the cloud segment is anticipated to hold the largest market size in value by growing at a notable CAGR over the forecast period. The growth of the segment can be attributed to the multiple benefits of on demand solutions such as maintenance ofdata for clients on cloud server and easy access to client data through web.
eClinicis a term used in the biopharmaceutical industry to describe the branch ofmedical science that uses telemedicine. eClinical solutions are a combination of electronic data capture (EDC) and interactive voice response (IVR) systems in which common data is exchanged among the clinic and patient so that the same information can be entered or performed in the applications. The growth of the global eclinical solution market can be majorly associated with the increasing research & development activities within pharmaceutical companies, growing adoption of software solutions among pharma & biotech companies, andgovernment initiatives to support clinical trials.
On thebasis of region, the global eclinical solutions market is segmented into fivemajor regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. The market in North America held the largest market share in the year 2021 on the back of increasing government funding, and development as well as release of new products. Alternatively, since the population is rapidly increasing in the Asia Pacific, the market in this region projected to witness significant growth by growing at a higher CAGR over the forecast period.
Theresearch is global in nature and covers detailed analysis on the market inNorth America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
GrowingResearch & Development in the Field of Pharmaceuticals to Boost the Global eClinicalSolutions Market
Accordingto the data published by the World Bank Group, as of year 2018, the researchand development expenditure accounted to 2.203% of the world GDP. Research and development is an influential field since it provides in-depth knowledge and perspectives. Research and development is a crucial factor in determining the success of a firm or sector, and it is especially important in the healthcare industry as it clarifies the final outcome. Research & development is one of the majorfactors anticipated to boost the growth of the global eclinical solutions market.
However, highcost associated with the implementation of e-clinical solutions and concern forpatient privacy are expected to operate as key restraint to the growth of global eclinical solutions market over the forecast period.
Thisreport also provides the existing competitive scenario of some of the keyplayers of the global eclinical solutions market whichincludes company profiling DATATRAK International, Inc., Oracle Corporation, SignantHealth, DassaultSystèmes S.E., eClinical Solutions LLC, IBM Corporation, Veeva Systems Inc.,Mednet, Saama Technologies, Inc., and Parexel InternationalCorporation among others. The profiling enfolds key information of thecompanies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global eclinical solutions market that will help industry consultants, equipmentmanufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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