eClinical Solutions Market Key Players and growth strategy

The global eClinical solutions market is estimated to reach 7.61 Billion by 2022, at a CAGR of 12.4% during the forecast period (2017-2022).

From 2013 to 2016, key players in the eClinical solutions market focused on strategies such as partnerships, agreements, and collaborations; expansions; product launches and enhancements; and mergers and acquisitions in order to strengthen their global position.

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Partnerships, agreements, and collaborations was the key growth strategy adopted by a majority of the players to increase their share in the market. Companies such as Oracle Corporation (U.S.), Medidata Solutions, Inc. (U.S.), PAREXEL International Corporation (U.S.), BioClinica, Inc. (U.S.), OmniComm Systems, Inc. (U.S.), DATATRAK International Inc. (U.S.), ERT Clinical (U.S.), Merge Healthcare Incorporated (U.S.), CRF Health (U.S.), MaxisIT Inc. (U.S.), Bio-Optronics, Inc. (U.S.), and eClinical Solutions, Inc. (U.S.) adopted this strategy.

Apart from partnerships, agreements, and collaborations, a number of leading players adopted a strategy of product launches and enhancements to develop new innovative eClinical solutions, strengthen their product portfolios, upgrade existing products, and address unmet needs of end users.

As of 2016, Oracle Corporation was the leading player in the global eClinical solutions market. Over the past four years, the company primarily focused on product launches and enhancements as its key growth strategies to sustain its leading position. In the past four years, the company launched a number of eClinical solutions, including the Oracle Health Sciences Safety Suite 8.0 (April 2016), Oracle Healthcare Precision Medicine (January 2016), Health Sciences InForm Cloud Service 6.1 (June 2015), Exadata Database Machine X4-8 (July 2014), Oracle Health Sciences Data Management Workbench (June 2014), Oracle Health Sciences Empirica Healthcare Analysis (March 2014), Oracle Exadata Database Machine X4 (December 2013), and Oracle Enterprise Healthcare Analytics (March 2013).

Medidata Solutions, Inc. (U.S.), a leading provider of cloud (software-as-a-service) solutions, held the second position in the eClinical solutions market in 2016. The company adopted the strategy of partnerships and collaborations to expand its presence in the market. For instance, in January 2017, the company signed a strategic partnership agreement with Box (a U.S.-based provider of enterprise content management platforms). Through this agreement, the company added enterprise-grade content management capabilities to its content and data management platform. Likewise, in September 2016, the company signed a strategic commercial partnership with SHYFT Analytics (U.S.) for healthcare data analytics solutions. Through this partnership, Medidata provided real world evidence (RWE) data from electronic medical records (EMRs) and health claims to its customers.

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