Global e-clinical solutions market to Grow by $12.77b through 2028

Thanks to the rise in clinical trials for drugs.

The global e-clinical solutions market size is projected to expand by $12.77b from 2024 to 2028, with an estimated compound annual growth rate of 15.26%, according to Technavio.

In a statement, Technavio said the expansion is driven by the increasing emphasis on clinical trials and vaccine development for various chronic diseases such as cancer, cardiovascular conditions, and infectious diseases.

“The enormous data generated during these trials requires advanced software solutions for clinical data management and clinical trial management systems,” Technavio said. “The rising number of clinical trials and observational studies, coupled with research funding, is driving the adoption of eClinical solutions.”

However, Technavio said the lack of awareness and high costs are key challenges facing smaller enterprises and underdeveloped markets.

The increasing digitization of healthcare, facilitated by the Internet of Things and information technologies, coupled with the growing adoption of eClinical solutions in clinical trials, is also driving market growth.