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eClinical Solutions Market worth $22.1 billion by 2029 driven by Rising Chronic Illness Rates | MarketsandMarkets™

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CHICAGO, July 30, 2024 /PRNewswire/ — The global eClinical Solutions Market is expected to grow from USD 11.6 billion in 2024 to USD 22.1 billion by 2029, at a CAGR of 13.7%. eClinical solutions have significantly enhanced clinical trial efficiency, site performance, and cost-effectiveness compared to traditional methods, driving their market growth. These solutions, including electronic data capture (EDC) and clinical data management systems (CDMS), streamline operations and ensure regulatory compliance, benefiting contract research organizations (CROs), researchers, and pharmaceutical companies. Despite high implementation costs and concerns over patient privacy, the market is expanding due to increased adoption of novel software, rising clinical trials in developing countries, and the growing need for efficient data management. The electronic clinical outcome assessment (eCOA) solutions segment is expected to grow the fastest, driven by improved data accuracy and patient engagement. Web-hosted and cloud-based models currently dominate the market due to their flexibility and security features. North America led the market in 2023, while Asia Pacific is projected to experience the highest growth rate during the forecast period, driven by a burgeoning healthcare sector and increasing clinical trials. Key market players include Medidata, Veeva Systems, IQVIA, ICON plc, and Oracle.

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Browse in-depth TOC on “eClinical Solutions Market”317 – Tables54 – Figures244 – Pages
Medidata (A Dassault Systèmes Company): Leader in End-to-End Clinical Data Management
Medidata excels in global clinical data capture and management with extensive functionality tailored for diverse clinical study needs. The company’s robust market position is reinforced by its comprehensive organic development efforts, including the release of the myMedidata app in December 2022. This native mobile app enhances patient experience by offering features such as electronic diaries, patient-reported outcomes, and informed consent through a single sign-on. This innovation aims to improve patient engagement and data quality by providing easy access to trial activities from smartphones. Medidata also strengthens its market presence through strategic partnerships, collaborations, and acquisitions.
Veeva Systems: Premier Provider of Cloud Solutions for Life Sciences
Veeva Systems is a leading provider of cloud-based solutions tailored to the global life sciences sector, offering software, data, and consulting services across critical business areas from R&D to commercialization. The company’s revenue is derived from two main product categories: Commercial Solutions, including Veeva Commercial Cloud and Veeva Claims Solutions, and R&D Solutions, encompassing Veeva Development Cloud, Veeva RegulatoryOne, and Veeva QualityOne Solutions. Veeva’s solutions are built on the proprietary Veeva Vault platform, supporting clinical, regulatory, quality, and safety tasks within life sciences organizations.
IQVIA Inc.: Leader in eClinical Solutions and Research Outsourcing
IQVIA Inc. is a key player in life sciences research and commercial outsourcing, known for its advanced eClinical solutions that enhance data quality, patient experience, and clinical trial efficiency. The company’s market leadership is bolstered by strategic acquisitions and collaborations, including its expansion in China, India, Russia, Turkey, and Japan. Notable developments include the May 2021 expansion of IQVIA Biotech in Japan and APAC and the acquisition of Q2 Solutions, which broadens its Research & Development Solutions offerings. IQVIA’s efforts are focused on improving clinical and commercial solutions for biotech and emerging biopharma companies.
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Product Segmentation: EDC and CDMS Dominate the eClinical Solutions Market
The eClinical solutions market in 2023 is primarily driven by Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS). These segments are expected to hold the largest market share due to their ability to shorten clinical trial durations and costs, meet data standardization requirements, and accommodate increased R&D expenditures by pharmaceutical companies. EDC systems, for instance, have demonstrated significant cost savings in clinical trials. A notable example is Novartis, which used an open-source EDC platform across over 400 clinical trials, resulting in operational cost savings of USD 347,600 during a 12-month phase II trial conducted at 20 sites.
Regional Insights: North America Leads the Market
In 2023, North America is set to dominate the eClinical solutions market, followed by Europe and the Asia-Pacific region. Key drivers for North America’s leading position include increased government funding for clinical trials, a high volume of ongoing clinical studies, continuous product advancements by eClinical solution providers, and numerous partnerships for drug development. The region also benefits from a high incidence of lifestyle diseases and an expanding aging population.
Growth Forecast: Asia-Pacific to Experience Highest Growth
The Asia-Pacific region is anticipated to achieve the highest growth rate in the eClinical solutions market during the forecast period. This growth is supported by increased outsourcing of clinical trials, less stringent regulatory environments compared to developed markets, and a large patient base. Additionally, significant investments and reforms are focused on modernizing healthcare infrastructure in China, growing the health industry in India, and adopting IT programs in Australia and New Zealand.
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Related Reports:
Healthcare Analytics Market
Healthcare IT Market
Healthcare Cloud Computing Market
Bioinformatics Market
Clinical Trial Management System Market
Get access to the latest updates on eClinical Solutions Companies and eClinical Solutions Market Share
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MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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World’s 1st Flashlight Experience Store Kicks Off in Las Vegas

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LAS VEGAS, Sept. 15, 2024 /PRNewswire/ — Olight, a brand committed to becoming a global leader in mid-to-high-end flashlights, opened the world’s first flashlight experience store at Fashion Show Las Vegas. On the same day, it hosted a major new product launch event and a fan festival for its loyal customers.

A Retail Revolution
The store adopts an advanced digital retail model that seamlessly integrates online and offline channels. Leveraging cloud computing, big data, IoT, and other cutting-edge technologies, Olight has created a unified system for warehousing, logistics, supply chain management, and retail. This enhances operational efficiency and allows consumers to order online and pick up in-store, offering a more convenient and efficient shopping experience.
“Olight has consistently focused on the U.S. market and achieved outstanding results online. We want our first experience store to not only showcase our products but also serve as a bridge between the online and offline, connecting our brand with our customers,” said Mavis Xiao, CMO of Olight.
New Product Launches
Olight unveiled five new products at the event: Arkfeld Ultra, Baton Turbo, Perun 3, Sphere, and the Arkfeld Pro (Paw Edition). The Arkfeld Ultra uses a new aluminum material, making it one of the toughest and most scratch-resistant flashlights in the world. Olight also used this material to create a special gift for each audience member.
With the release of the Arkfeld Pro (Paw Edition), Olight announced an animal charity project in 13 countries, dedicated to supporting animal welfare for at least two years. For every Arkfeld Pro (Paw Edition) sold, Olight will donate $5 to local animal charities. This initiative aims to raise funds for animal protection and increase social awareness and action.
O-Fan Day: Celebrating the Community
O-Fan Day was a fan festival where Olight expressed its appreciation to the O-Fans, whom Olight believes are the driving force behind the brand’s growth. Olight held a fan award ceremony to recognize fans who have made outstanding contributions to supporting and promoting the brand. Over 200 O-Fans attended the festival, celebrating with Olight’s management, R&D teams, and more.
The Olight Fall Event 2024 was the brand’s most important event of the year. As a brand dedicated to establishing itself as a global leader in flashlights, Olight is bold in breaking the mold. This Fall Event demonstrated Olight’s determination to redefine the flashlight industry through innovation and to promote the development of the entire industry.
About Olight: 
Olight is committed to becoming a global leader in mid-to-high-end flashlights and driving the industry forward. Its diverse product range caters to various scenarios, from everyday carry to outdoor adventures, and is available across Europe, the Americas, and beyond.
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Global AI Summit Calls for Global Action to Guarantee AI Innovation is for the “Good of Humanity”

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RIYADH, Saudi Arabia, Sept. 14, 2024 /PRNewswire/ — The Global AI Summit (GAIN) in Riyadh concluded on a high, after the summit welcomed more than 30,000 delegates from across the globe over three days. The live stream of the summit, organized by the Saudi Data and AI Authority (SDAIA), received 3.7m views.

Building on the success of previous editions, GAIN 2024 featured more than 450 speakers from 100 countries, participating in 150 sessions. It also witnessed over 25 launches and announcements, and facilitated the signing of over 80 agreements and Memoranda of Understanding (MoUs).
The summit has grown exponentially since its inception in 2020. Its growing prominence reflects the Kingdom of Saudi Arabia’s role in advancing AI capabilities as it positions itself as a global leader in this space.
The key output from the summit was the need for governments and policy makers to take global action to ensure that AI technology evolves for the good of humanity. Central to responsible evolution is an ethical framework and robust governance.
To support the advancement of AI ethics and governance, SDAIA announced the Riyadh Charter of Artificial Intelligence for the Islamic World in collaboration with the Islamic World Educational, Scientific, and Cultural Organization (ICESCO). This promotes ethical AI grounded in Islamic values and principles, as well as sustainable development through international cooperation.
SDAIA has played a pivotal role in forging key collaborations to strengthen local and regional AI solutions, signing MoUs with Microsoft Arabia to develop Arabic language models, IBM for a Center of Excellence in Generative AI technologies, and NVIDIA to scale AI infrastructure across the Kingdom.
The summit also marked several major milestones. Alongside the unveiling of ALLaM, the world’s most advanced Arabic Language Model, other diverse initiatives such as the Global AI Community, the THAKAI Platform, and guidelines for addressing deepfake technology.
Furthermore, the launch of the Generative AI Center of Excellence by the Digital Cooperation Organization (DCO), the agreement to open an International Center for AI Research and Ethics (ICAIRE) as a UNESCO Category 2 Center, further underscored the impact of GAIN 2024.
The summit itself provided the platform for companies from all over the world to showcase the latest AI technologies and innovations, including AI generated avatars, AI generated artwork, and even Robotic bar staff serving beverages.
The summit closed with an inspirational speech from the Director of Saudi Arabia’s National Information Center, His Excellency Dr. Esam Alwagait, in which he thanked participants:
“Your candid perspectives have not only inspired us with the vision of what lies ahead, but have also grounded us in the realities we must face. Together, we have not only imagined the future of AI, but have also made it real by addressing the challenges and identifying the enablers needed to truly unlock its potential.”
He added:
“It has been incredibly inspiring to see the world come together here in Riyadh, united by momentum to make AI work for everyone. The commitment to collaborative action has been evident throughout the summit.” 
The success of GAIN 2024 ensures that the Kingdom’s AI infrastructure will be significantly strengthened and has cemented Saudi Arabia position at the center of global AI.
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Akuvox S567G Smart Indoor Monitor Has Received Google Mobile Service Certification

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XIAMEN, China, Sept. 13, 2024 /PRNewswire/ — Akuvox has announced its S567G, an indoor monitor powered by Android™, to have received Google GMS certification. This certification ensures full support for Google Services, allowing users to download and update apps directly from the Google Play Store, including smart home control apps. It also enhances system security, protecting against malware and unauthorized access.

GMS certification involves comprehensive testing and approval by Google or a designated 3PL lab, validating security and compatibility to ensure seamless integration within the Android ecosystem. Receiving GMS certification underscores Akuvox’s leadership in the smart intercom industry. Building on its legacy as the pioneer of Android smart intercoms, Akuvox continues to elevate its Android systems with Google’s rigorous certification, offering clients flexible and sophisticated smart intercom solutions. 
The S567G’s GMS certification ensures flawless operation with key Google apps like Chrome, Gmail, YouTube, Maps, and the Play Store. Edward Shi, Product Manager of the S567G, notes, “The positive feedback we’ve received from clients, even during testing, confirms that this device is transforming daily life. It’s more than just an intercom — it’s a versatile tool, even capable of functioning as a small TV. Our team has worked tirelessly to meet the highest standards, and I’m excited to see how it enhances smart living for our users.”
The S567G’s features extend beyond intercom functionality. With four HD speakers and a 1280 x 800 IPS LCD screen, it offers an exceptional audio-visual experience, redefining the concept of an indoor monitor. Whether for entertainment or smart home control, the S567G stands out as a versatile wall-mounted tablet, bringing innovation to every interaction.
About Akuvox
Akuvox is a global leading provider of smart intercom and smart home products and solutions. It is committed to unleashing the power of technology to improve people’s lives with better communication, greater security, and more convenience. Encompassing artificial intelligence, SIP, Android, cloud, security, and other advanced technologies, Akuvox continuously drives breakthrough changes in the industry and creatively delivers an unrivaled portfolio of smart intercom and smart home products and solutions. It has been deployed and used daily in more than 110 countries and regions, meeting customer needs in various vertical markets that range from residential to commercial, from healthcare to public safety.
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