NEW YORK, January 7, 2016 /PRNewswire/ --
The global e-clinical solution market was valued at $2,997.0 million in 2014, and it is expected to grow with a CAGR of 13.7% during 2015 - 2020. The global e-clinical solution market is growing, due to increasing number of clinical trials and increasing spends on clinical research and development in the pharmaceutical and biotechnology industry. In addition, the growing clinical trial outsourcing and increasing need for improved data standardization are also driving the growth of the global market.
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Among the various end users, the pharmaceutical and biotechnology segment is expected to be the largest market; while the clinical research organizations segment, with a CAGR of 16.1%, is expected to witness the fastest growth during the forecast period.
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The information and data in the publication "Global E-Clinical Solution Market Size, Share, Development, Growth and Demand Forecast to 2020" represent the research and analysis of data from various primary and secondary sources. The bottom-up approach has been used to calculate the global market size by type, delivery mode, products and end users. The market numbers for countries are obtained through top-down approach. P&S Market Research analysts and consultants interacted with the authorities from leading companies of the concerned domain, to substantiate every value of data presented in this report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
The increasing number of clinical trials and growing clinical trial outsourcing are playing a pivotal role in the growth of the global market. E-clinical solution in the study refer to software that is used to accelerate the clinical development process. It comprises of various professional services and products, such as clinical data management system (CDMS), clinical trial management system (CTMS), safety solution, electronic clinical outcome assessment (eCOA) solution, and randomization and trial supply management (RTSM) solution.
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However, the high cost of implementation and less skilled manpower, long approval time for clinical trials, and lack of high speed broadband facilities and IT professionals in remote area act as hindrance in the growth of the global market of e-clinical solution. The increasing numbers of collaborations and partnerships, product launches and merger and acquisitions are the latest trends observed in the global market.
In 2014, North America dominated the global market of e-clinical solution, whereas the Asia-Pacific market is expected to witness the fastest growth, with a CAGR of 17.9%, during the forecast period.
The key companies operating in the global e-clinical solution market include Oracle Corporation, PAREXEL International Corporation, OmniComm Systems Inc., ERT, BioClinica, CRF Health Inc., Medidata Solutions, and DATATRAK International Inc.
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GLOBAL E-CLINICAL SOLUTION MARKET SEGMENTATION
By Type
Product
Professional Services
By Product
Clinical Trial Management System
Clinical Data Management System/ Electronic Data Capture
Safety Solution
Electronic Clinical Outcome Assessment Solution
Randomization and Trial Supply Management Solution
Others
By Delivery Mode
Web based E-Clinical Solution
Cloud based E-Clinical Solution
On-Premise E-Clinical Solution
By End User
Healthcare Providers
Pharmaceutical and Biotechnology Companies
Clinical Research Organizations
By Geography
North America
Europe
Asia-Pacific
Rest of the World (RoW)
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