Press Release
Press Release
The increased government investments in clinical trials are driving the growth of the eClinical solutions industry. The global market for eCinical solutions is expected to witness a robust growth in the forecast years. The researchers are preferring innovative eClinical solutions because they offer improved efficiency in clinical trials. The technology driven solutions help enhance productivity and streamline research workload with higher cost efficiency compared to conventional methodologies. It further helps to boost the speed of clinical trials, which remained the key area of focus amid the COVID-19 crisis. Apart from being cost-effective, they provide accurate results in comparison to conventional methods for clinical tests.
The rapid advancements in technology and increasing innovations in the life sciences industry are expected to significantly drive the demand for eClinical solutions. They provide unique and high-quality solutions for the efficient collection, standardisation, reporting, and role-based utilisation of clinical research data. For instance, in September 2019, DATATRAK International, Inc (OTCMKTS: DTRK) announced to expand its presence in the Asia Pacific region by building upon a 10-year partnership with NTT Data. In another case, in February 2019, Oracle (NYSE: ORCL) announced to integrate with Quorum to speed up clinical trials through advanced solutions. Such developments are expected to contribute to the industry growth in the forecast period.
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The major players in the global eClinical solutions market are Oracle, PAREXEL International Corporation, Medidata Solution, Inc., Bioclinica, DATATRAK International, Inc., and CRF Health, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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