According to the latest publication from Meticulous Research®, the eClinical solutions market is set to experience significant growth, projected to reach $23.32 billion by 2031 with a compound annual growth rate (CAGR) of 13.9% from 2024 to 2031. This growth is driven by the increasing volume of data in the healthcare and life sciences sectors, the expanding number of clinical trials, and the rise in funding for medical and pharmaceutical research and development.

The market expansion is further fueled by advancements in IT infrastructure within large hospital chains and the growing demand for precision medicine, which presents new opportunities for market players.

Key Players:
Leading companies in the eClinical solutions market include Dassault Systèmes S.E. (France), Fountayn (U.S.), Merative L.P. (U.S.), eClinical Solutions LLC (U.S.), Clario (U.S.), eClinicalWorks, LLC (U.S.), IQVIA Inc. (U.S.), Parexel International (MA) Corporation (U.S.), MaxisIT Inc. (U.S.), Signant Health (U.S.), Castor (U.S.), Veeva Systems Inc. (U.S.), and Oracle Corporation (U.S.).

Market Insights:
The eClinical solutions market is segmented by product, clinical trial phase, end user, and geography. Key product segments include Clinical Data Management Systems (CDMS), Clinical Trial Management Systems (CTMS), Electronic Data Capture (EDC), and Clinical Analytics Platforms, among others. Notably, the CTMS segment is projected to exhibit the highest growth rate of 13.5% during the forecast period. This growth is attributed to the increasing volume of clinical research and trials, the demand for streamlined clinical trial data, and the shift toward decentralized clinical trials.

End-user segmentation reveals that pharmaceutical and biopharmaceutical companies are expected to dominate the market in 2024, driven by a high number of clinical trials and a focus on accelerating drug development and approval processes. For example, the U.S. Food and Drug Administration (FDA) approved 55 novel drugs in 2023, up from 37 in 2022.