eClinical Solutions Market to Grow at 13.4% CAGR by 2031, Driven by Personalized Medicine and Innovative Therapies

WESTFORD, MASSACHUSETTS, UNITED STATES, August 27, 2024 /EINPresswire.com/ -- eClinical Solutions Market size was valued at USD 7.18 billion in 2022 and is poised to grow from USD 8.15 billion in 2023 to USD 22.35 billion by 2031, growing at a CAGR of 13.4% in the forecast period (2024-2031).

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eClinical solutions, software, and apps allow clinical research and trials to be managed rapidly and effectively. The software programs that are included in the eClinical solutions category assist with deadline tracking, data administration, maintenance, and recording, among many other tasks. Innovative pharmaceutical treatments and medical research are witnessing an increase in the use of personalized or gene-based disease management. The market is expected to increase significantly due to regular requests made by government reimbursement organizations, commercial insurers, and payers for novel treatments that have a higher therapeutic value and efficacy than currently available alternative therapies or pharmaceuticals.

eClinical Solutions Market Top Player's Company Profiles

• Oracle Corporation
• Medidata Solutions, Inc.
• Parexel International Corporation
• Bioclinica, Inc.
• OpenClinica (US)
• DATATRAK International, Inc. (US)
• CRF Health (UK)
• Advarra (US)
• MedNet Solutions, Inc. (US)
• Bio-Optronics, Inc. (US)
• eClinicalWorks LLC (US)

Innovating Clinical Trials: Emmes Leads with Advantage eClinical

The following are the key eClinical Solutions Trends that will shape the growth of the market in the next 5 years

In May 2022, Emmes made its debut with their third-generation Advantage eClinical at the Society for Clinical Trials (SCT) in San Diego. After more than two years of development, Advantage eClinical's cloud platform will be available as a stand-alone software solution. The platform was developed specifically to provide sponsors with greater flexibility, insights, and faster study creation for clinical trials of all sizes. During the coming years, this innovation is predicted to streamline trial workflows, improve data quality, and reduce study timelines. Real-time visualization and advanced analytics of this platform would help sponsors for decision-making, leveraging participant safety. Advantage eClinical is an innovative technology that aims to develop novel therapies and improve patient’s results.

Smart Signals eConsent Evolution: Signant Health's Strategy for Growth and Adaptability

In April 2021, Signant Health expanded the selection of electronic informed consent choices and enhanced functionality with the introduction of the most recent version of Smart Signals eConsent. To meet the needs of teams, SmartSignals eConsent solutions are available in three functionality tiers: silver, gold, and platinum. This strategy has improved the company's present product range and increased sales revenue. With the adoption of these three tiers functionalities, the company is making its leading position to meet diverse clinical research needs. It allows teams to select the best fit for their trial requirements.

Segments covered in eClinical Solutions Market are as follows:

• Product
o Electronic Data Capture & Clinical Data Management Systems, Clinical Trial Management Systems, Clinical Analytics Platforms, Randomization & Trial Supply Management Systems, Clinical Data Integration Platforms, Electronic Clinical Outcome Assessment Solutions, Safety Solutions, Electronic Trial Master File Systems, Electronic Consent Solutions, Regulatory Information Management Systems, and Other

• Delivery mode
o Web-hosted Models, Licensed Enterprise Models, Cloud-based Solutions

• Clinical Trial Phase
o Phase I Clinical Trials, Phase II Clinical Trials, Phase III Clinical Trials, Phase IV Clinical Trials

• End-user
o Pharmaceutical & Biopharmaceutical Companies, Contract Research Organizations, Consultancy Service Companies, Medical Device Manufacturers, Hospitals, Academic & Research Institutes

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Latest Innovations by Players to Sustain Their Strong Foothold

• In June 2023, the release of the most recent iteration of ICON plc's Digital Platform, which enables the seamless integration of sponsor, site, and patient services with uniform data delivery. The platform provides comprehensive solutions for patient services in clinical trials and may be tailored to various therapeutic areas and study types. An intuitive mobile app, direct data collection for in-home treatments, telehealth visits, eCOA, eConsent, and digital health technology administration are among the features.

• In June 2023, Syneos Health and uMotif Limited teamed, making use of a state-of-the-art digital platform with robust Electronic Patient-reported Outcomes (ePRO) and Electronic Clinical Outcome Assessment (eCOA) functions. Clinical trials will go more swiftly due to this partnership, which will improve patient delivery of novel medications.

• In May 2023, the elluminate IQ solution's machine learning (ML) and artificial intelligence (AI) capabilities will be expanded, according to eClinical Solutions LLC. announcement. Data management teams may undertake scalability and more effective data evaluations with the help of modern ML/AL capabilities.

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Looking Ahead for Advancements in the eClinical Solutions Industry

The primary market drivers are abundance of data from the healthcare industry, growth of clinical trials, and government's increased focus on clinical research. The eClinical solutions market is highly competitive and highly fragmented globally. To maintain a competitive advantage, the market's top firms constantly implement new growth plans. To thrive in the competitive sector, these companies rely on partnerships, collaborations, mergers and acquisitions, and innovations. To provide the industry with the best and most affordable solutions, the major players in the market also constantly prioritize research and development.

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