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3. Medidata (A Dassault Systèmes Company) (France), Veeva Systems (US) are Leading Players in the eClinical Solutions Market

The global eClinical solutions market is projected to reach USD 22.1 billion by 2029 from USD 11.6 billion in 2024, at a high CAGR of 13.7% during the forecast period. Increased operational costs and strict regulatory requirements for clinical research studies are the main reasons for the growth of this market, along with the adoption of new software solutions for clinical research, the favorable government funding for clinical trials, the need for better data standardization, and the growth of research and development of drugs through biotech-pharma companies further drives the market. However, several factors will likely be a drag on market growth such as excessively high implementation costs of eClinical solutions, a low supply of skilled professionals, and the insufficient level of awareness among the researchers are some of the factors that contribute to losing the market.

Prominent players in the eClinical solutions market include Medidata (A Dassault Systèmes Company) (France), Veeva Systems (US), IQVIA Inc. (US), ICON plc (Ireland), Oracle (US), Signant Health (US), Clario (US), eClinical Solutions (US), Clinion (US), MaxisIT (US), 4G Clinical (US), Fountayn (US), Saama (US), Mednet (US), Advarra (US), Caidya (US), OpenClinica (US), EvidentIQ (Germany), Research Manager (Netherlands), Anju Software, Inc. (US), Medrio (US), Castor (US), RealTime Software Solutions, LLC (US), Y-Prime, LLC (US), and Vial (US). These companies adopted strategies such as product launches, expansions, agreements, partnerships, collaborations, and acquisitions to strengthen their market presence in the eClinical solutions market.

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Medidata (A Dassault Systèmes Company) enable end-to-end global clinical data capture and management with vast functionality. This gives an additional variety of functionalities for a wide range of different clinical study needs, ensuring a strong market position and high industry competence. The company covers organic development through advanced creation and updating of solutions. In December 2022, the company released the myMedidata app, a native mobile app that provides a single sign-on to access a host of capabilities including, but not limited to, electronic diaries, patient-reported outcomes, and informed consent. This launch aims to improve patient experiences by giving them easy access to trial activities directly from their smartphones, potentially enhancing engagement and data quality. Medidata also uses other inorganic techniques, such as partnerships, collaborations, and acquisitions, to strengthen its market position.

Veeva Systems is a leading provider of industry cloud solutions to the global life sciences sector. The company's products include cloud software, data, and business consulting, all of which are targeted to customers' individual needs across their most strategic business areas, from R&D to commercialization. Veeva's solutions help life sciences organisations create and launch products more rapidly and efficiently, market and sell more successfully, and comply with regulatory requirements. The company's revenue is split between two product categories: Commercial Solutions and R&D Solutions. Commercial Solutions comprise income from Veeva Commercial Cloud and Veeva Claims Solutions, whereas R&D Solutions include revenue from Veeva Development Cloud, Veeva RegulatoryOne, and Veeva QualityOne Solutions. The Veeva Development Cloud includes application suites for clinical, regulatory, quality, and safety tasks in life sciences organisations, all built on Veeva's proprietary Veeva Vault platform.

IQVIA Inc. has a strong presence in the healthcare industry and is recognized as a leader in life sciences research and commercial outsourcing. The company focuses on extending eClinical solutions offerings which helps IQVIA achieve a differential advantage. This kind of model decentralizes the respective company's operation, which in turn increases the quality of the data, brings enhancement in the experience level maintained by the patients, and shortens clinical trials. IQVIA's leading position in the eClinical solutions marketplace was further defined by acquisitions and collaborations: the company further ramped up its needed R&D investment to furnish a service portfolio focused on expanding and launching in China, India, Russia Turkey, and Japan. For example, in May 2021, IQVIA announced more expansion of IQVIA Biotech in Japan and APAC to offer integrated clinical and commercial solutions and support to the biotech and emerging biopharma companies. More recent purchases include Q2 Solutions, which expands its service offerings within the Research & Development Solutions business segment.

Related Reports:

eClinical Solutions Market by Product (CDMS, EDC, CTMS, eCOA, RTSM, eTMF, Safety), Deployment (On premise, Cloud), Application (Collection, Operations, Analytics), Trial Phase, End user (Pharma, Biotech, Med Devices), & Region - Global Forecast to 2029

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