Product Launch (Blog)

Jan, 25 2023

Increasing acceptance of E-Clinical Solutions for Enhanced Data Standardization is Boosting the Market Growth

 

As per the World Economic Forum estimates from 2019, hospitals produce approximately 50 petabytes of data per year. Clinical notes, medical imaging, lab tests, sensor readings, genomics, and operational and financial data are all included in the data. The amount of data that is produced by the Internet of Things (IoT) and the digitization of healthcare is huge, and it contains information that can be quickly regained through electronic data mining, which was previously not possible with paper records.

According to Data Bridge Market Research the Europe e-Clinical Solutions Market which was USD 7.2 billion in 2021, would rocket up to USD 20.54 billion by 2029, and is expected to undergo a CAGR of 14.0% during the forecast period 2022-2029.

“Increasing Growth in Biopharmaceutical Industries Surge the Market Growth”

Pharmaceutical companies widely use e-clinical solutions to obtain regulatory approval for newly launched medicines and drugs. Additionally, the increasing frequency of chronic medical conditions and the rising elderly population, both of which require huge medical attention, are boosting the market forward. With the onset of COVID-19, the demand for eClinical solutions to create and monitor vaccine administration and manage patient data has grown considerably. With regards to this, healthcare professionals increased embrace of smart medical devices for greater data standards is also boosting the market expansion. This factor is improving the growth of the market.  

What restraints the growth of Europe E- Clinical Solutions Market?

“High costs and risks associated with new therapeutics”

With the introduction of customized medications and the increase of virtual pharma corporations, and organizations without typical large-scale pharma capabilities, this trend is expected to gain much attention. The costs and risks of creating new treatments, which are mostly related to drug trials, continue to increase. Thus, it impedes the market growth.

Segmentation: Europe E- Clinical Solutions Market

The E-clinical solutions market is segmented on the basis of product, delivery mode, development phase and end-user.

  • Based on product, the E-clinical solutions market is segmented into electronic data capture (EDC) and clinical data management systems (CDMS), randomization and trial supply management (RTSM), clinical trial management systems (CTMS), electronic clinical outcome Assessment (ECOA), electronic trial master file systems, clinical analytics platforms, safety solutions, regulatory information management solutions, clinical data integration platforms and others.
  • Based on deployment mode, the market is segmented into web-hosted (On-Demand) solutions, cloud-based (SaaS) solutions and licensed enterprise (On-Premise) solutions.
  • Based on clinical trial phase, the market is segmented into phase I, phase II, phase III and phase IV.
  • Based on end user, the market is segmented into hospital/healthcare provider, contract research organizations (CROS), pharma and biotech organizations, medical device manufacturers, consulting service companies and academic institutes.  

Regional Insights: Germany is expected to dominate the Europe E-Clinical Solutions Market

Germany is expected to grow in the forecast period of 2022-2029 due to the increase in the research activities by the pharmaceutical and biotechnology companies for the developments in drugs. India is expected to observe major amount of growth in the e-Clinical solutions market because of the rise in the elderly population. It is also increasing due to the increasing prevalence of chronic and lifestyle disorders and huge existence of advanced and smart healthcare IT solutions during the forecast period 2022-2029.

To know more about the study visit, https://www.databridgemarketresearch.com/reports/europe-e-clinical-solutions-market

Recent Developments in Europe E- Clinical Solutions Market

  • In 2021, with the introduction of SmartSignalsTM e-consent, Signant Health has enlarged its electronic informed consent options and capabilities. Sponsors now have more control over getting electronic informed consent and re-consent for any research design thanks to changes to key products' functionality and tiered license options.
  • On 2021, e-clinical Solutions LLC launched the latest update of the illuminating Clinical Data CloudTM, which includes enhanced analytics, new visualizations, and increased automation of data review and mapping capabilities across the platform.

The Prominent Key Players Operating in the Europe E- Clinical Solutions Market Include:

  • Oracle (U.S.)
  • Medidata Solutions, Inc. (U.S.)
  • Veeva Systems (U.S.)
  • ERT Clinical (U.S.)
  • IBM Corporation (U.S.)
  • Clario (U.S.)
  • ArisGlobal (U.S.)
  • Anju Software, Inc’s (U.S.)
  • Bio-Optronics, Inc. (U.S.)
  • Datatrak Int. (U.S.)
  • ICON (U.S.)
  • MasterControl Solutions, Inc.(U.S.)
  • OmniComm Systems, Inc. (US)
  • Resonance Health Ltd (Australia)
  • Signant Health (U.S.)
  • Xybion Corporation (U.S.)

Above are the key players covered in the report, to know about more and exhaustive list of Europe E-clinical solutions market companies contact, https://www.databridgemarketresearch.com/contact

Research Methodology: Europe E- Clinical Solutions Market

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.


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