A rapid surge in the research and development activities by numerous pharma and biopharma companies is influencing the demand growth in eClinical solutions market. The increasing application areas of clinical trial software solutions and an upsurge in government funding to promote clinical research programs are opportunistic for the industry. Furthermore, the increasing outsourcing of clinical trials to CROs, escalating clinical research programs in Asian countries, and the development of cost-effective modules aid in expanding the market potential. However, the high implementation costs of eClinical solutions and the lack of awareness of clinical data sciences software in the research community are likely to hinder the growth of the industry.

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.

Trials and Phases:

Over the last two decades, ClinicalTrials.gov has held ~75% of the overall clinical trials at a global level, which showcases the steady increase in new clinical trials registered every year. In the past 10 years, ~17,000 new clinical trials were registered annually. Mentioned below are the different phases of clinical trials:

• Phase I trials are conducted on a small number of individuals (mostly less than 100); it costs less for investigators. These trials are performed to determine the tolerability, safety, pharmacodynamics, and pharmacokinetics of a drug.
• Phase II study enrolls 100–500 volunteers. This study is performed to assess the dosage response and efficacy of a drug and the short-term side effects of the drug treatment. Drugs that are identified safe and effective in both Phase I and II clinical testing are forwarded to Phase III study.
• The Phase III clinical study involves enrolling 1000–5000 patients across various clinical trial sites. This phase takes several years to complete. Regulatory authorities require positive data to justify market approval submission.
• Phase IV clinical trials are conducted to test the long-term effects of drugs and are required by regulatory authorities as a condition for approval.

Increasing research and development activities by biopharma and pharma companies are among the key factors escalating market growth. Besides, the growing incorporation of software solutions in clinical trials is also projected to provide a fillip to the market. The COVID-19 pandemic boosted the adoption of the market, as companies in the market were investing in better healthcare IT solutions to help in tackling the pandemic.

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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.

Technological Landscape and Trends:

Technological advancements, including easy Wi-Fi connectivity access and electronic data capture, are driving the market growth. With the surge in demand for analyzing and tracking clinical data, the demand for effective clinical solutions is also increasing.

• Digital transformation and shifting preferences toward a data-driven approach are anticipated to contribute significantly to market growth in the coming years. The demand for cohesive clinical IT solutions is increasing owing to the increasing veracity and volume of data generated during the clinical development process.
• Consistent software upgradation is expected to create opportunities for new market entrants. For instance, in November 2021, Oracle for Research introduced Oracle Open Data, a new cloud service to accelerate scientific innovation.
• eClinical solutions in clinical trial workflows deliver enormous growth opportunities in clinical development processes. These solutions enable enhanced decision-making in every stage of drug development. They also help reduce cost and time in the development phase by utilizing seamless designs and determining failing compounds.
• eClinical solutions provide rapid access to data and patient safety information, which facilitates quick decision-making. Easier and faster implementation of changes in the clinical development process helps sponsors save energy and time. Various development platforms are available in the market that are used in clinical trials. The EDC, ECOA, CDMS, Clinical Analytics Platforms, Clinical Data Integration Platforms, Safety solutions, CTMS, RTSM, and eTMF are the most commonly used platforms in clinical trials.

The Market at a Glimpse:

According to a study by Grand View Research, the global eClinical solutions market was estimated at USD 9.2 billion in 2023 and is projected to grow at a CAGR of 14.1% from 2024 to 2030. The eClinical solutions industry is highly competitive and a considerable number of companies possess a certain level of dominance over the global market revenue. The most remarkable market participants include Oracle Corporation and Medidata Solutions, which occupy a substantial share of the market owing to their exceptional portfolios. Market leaders are involved in wide-ranging research for the development of cost-efficient and technologically advanced eClinical solutions. Subsequently, the introduction of such cutting-edge technologies is expected to provide this market with lucrative growth opportunities.