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.
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 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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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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