Kenneth Research published a report titled “E-Clinical Solutions Market: Global Demand Analysis Opportunity Outlook 2031” which delivers detailed overview of the e-clinical solutions in terms of market segmentation by product, mode of delivery, end user, 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.
The global e-clinical solutions market is anticipated to garner approximately USD 1300 million in revenue by 2031 by growing at a CAGR of nearly 13% over the forecast period, i.e., 2022 – 2031. Rising number of clinical trials and huge data generated online from healthcare industry are expected to drive the market growth. For instance, according to the World Economic Forum, as of 2019, hospitals produce around 50 petabytes of data per year. Furthermore, high adoption of e-technologies on the back of expanded healthcare systems are also propelling the growth of the global e-clinical solutions market.
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The global market is segmented by mode of delivery into web-based, on-premise, and cloud-based. Among these segments, the web-based segment is anticipated to hold the major share over the forecast period. The growth of the segment can be attributed to related benefits, such as easy accessibility, usability, and lower investments required. Further, web-hosted products are easily customizable, owing to which, providers can modify the presentation of information for different user groups.
Geographically, the global market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East Africa region. Among these regions, the market in North America region is estimated to hold the largest share of the market and witness significant growth over the forecast period. The factors driving the market growth in the region are new product launches by e-clinical solution traders, and growth in the number of partnerships for new drug development. Additionally, the market in Asia Pacific region is projected to be the fastest growing region in the global e-clinical solutions market owing to rising prevalence of chronic diseases, such as cancer, cardiovascular conditions, and infectious diseases.
The research is global in nature and covers detailed analysis on the market in North 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.
Government Emphasis on Clinical Research, and Growing RD Expenditure to Boost the Market Growth
Increasing government emphasis on clinical research, and growing RD expenditure on drug development by pharma-biotech companies are driving the growth of the market. Additionally, a variety of aspects, like clinical notes, lab tests, medical images, sensor readings, genomics, and operational and financial data are raising the demand for e-clinical solutions. Moreover, increasing number of pharmaceutical companies are predicted to propel the growth of the e-clinical solutions market further.
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However, high costs associated with advanced e-clinical software solutions, and lack of skilled professionals are expected to operate as key restraints to the growth of the global e-clinical solutions market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global e-clinical solutions market which includes company profiling of Parexel International Corporation, eClinical Solutions LLC., Signant Health, Datatrak Int., MaxisIT, Advarra, FHI Clinical Inc., Clinical Ink, Oracle, Clario, and others.
The profiling enfolds key information of the companies 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 e-clinical solutions market that will help industry consultants, equipment manufacturers, 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.
Kenneth Research is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.
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