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Due to an increase in clinical trials of drugs.
According to Technavio forecasts, the global electronic clinical solutions market size is expected to expand by US$12.77b from 2024 to 2028, with a compound annual growth rate expected to be 15.26%.
Technavio said in a statement that the expansion is driven by an increasing focus on clinical trials and vaccine development for a variety of chronic diseases, including cancer, cardiovascular disease and infectious diseases.
“The large amounts of data generated during these trials require advanced software solutions for clinical data management and clinical trial management systems,” said Technavio. “The increasing number of clinical trials and observational studies, coupled with investment in research funding, is driving the adoption of e-clinical solutions.”
However, Technavio said a lack of awareness and high costs are major challenges faced by small businesses and less developed markets.
The increasing digitization of healthcare, driven by the Internet of Things and information technology, coupled with the increasing adoption of e-clinical solutions in clinical trials, is also driving market growth.
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