eClinical solutions Market Analysis

eClinical solutions Market Analysis

eClinical solutions market share from the randomization and trial supply management (RTSM) solution segment was nearly USD 1.5 billion in 2022. Randomization and Trial Supply Management (RTSM) system is essential for randomizing participants, distributing medications, and maintaining site supplies. It offers several advantages, including removing selection bias, balancing the group in terms of numerous known and unknown prognostic or confounding variables, and serving as the foundation for statistical tests.
 

Based on the delivery mode, eClinical solutions market from the web-hosted (On-Demand) solutions segment is expected to reach over USD 11.5 billion by 2032. These solutions have gained acceptance owing to their several benefits such as simple usability, accessibility, and comparatively minimal investment requirements. Web-hosted solutions maintain client data on cloud server which can be accessible easily through the web and only requires computer hardware with internet connectivity. These solutions are also simple to customize, allowing them to be tailored as per the requirement of customer groups.
 

eClinical solutions market from the Phase IV clinical trials segment is projected to surpass USD 4.5 billion by 2032. Phase IV clinical trials primarily study the long-term benefits and risks of using a drug. It checks the drug’s performance in real-life scenarios and identifies rare side effects. Also known as post-marketing surveillance study, these trials are carried out after the drug has already received approval and is readily available to the general population. The inclusion of a large number of participants in such clinical trials over a longer period will drive the need for eClinical solutions to make large volumes of data easily accessible.
 

Europe eClinical solutions market is predicted to be worth USD 5.4 billion by 2032 attributed to the rising government support for new medical R&D. The region also holds the presence of well-known eClinical solution firms such as Medidata Solutions, Inc., Veeva Systems, and DATATRAK. These companies are forming alliances with other related firms to support the deployment of eClinical solutions.