The global e-clinical solution software market is estimated at USD 3,005 million in 2016. It is likely to grow at a CAGR of 13.8% from 2017 to 2020 to reach USD 6,515.3 million in 2020.
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E-clinical solution is a software that helps researchers with new ways to manage and analyze clinical data. It helps clinical research organizations, pharmaceutical, biotechnology, medical device and research organizations to magnify their clinical research investment by the use of innovative technologies.
Globally, the rising availability of computers and internet has helped the clinical trial industry by creating e-clinical technologies.
It is used widely in the management of clinical trials due to its effectiveness over paper process. Increasing number of clinical trials and increasing spending on clinical research and development in the pharmaceutical industry are the key growth drivers for the e-clinical solution software market.
In addition, increasing clinical trial outsourcing would provide opportunities for new market entrants, which would further drive the growth of the e-clinical solution software market.
On the other hand, long approval time for clinical trials, high cost of implementation and less skilled manpower are major concerns for the industry. Pharmaceutical and biopharmaceutical companies require approval from competent regulatory authorities in every country before starting a clinical trial.
Another challenge faced by the e-clinical solution software market is the lack of high speed broadband facility in remote areas.
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This report provides in-depth analysis and estimation of the e-clinical solution software market for the period 2014 to 2020, considering 2013 as the base year for calculation. In addition, data pertaining to current market dynamics including market drivers, restraints, trends and strategic developments has been provided in the report.
The e-clinical solution software market is categorized on the basis of mode of delivery, end-users, products and geography. Based on mode of delivery, the e-clinical solution software market comprises web based e-clinical solution software, cloud based e-clinical solution software and licensed enterprise e-clinical solution software.
Based on product type, the market comprises clinical data management system, clinical trial management system, electronic clinical outcome assessment solution, randomization and trial supply, and safety solution.
In the geographical analysis, the report identifies and analyses market size and forecast of North America, Europe, Asia and Rest of the World (Row). North America is further segmented into the U.S and rest of North America.
Similarly, Europe is further segmented into Germany, France and Poland. Asia is further segmented into South Korea and China.
Some of the major players in the e-clinical solution software market are Oracle Corporation, Medidata Solutions, PAREXEL International Corporation, BioClinica, OmniComm Systems. These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability and financial overview.
Globally, the e-clinical solution software market is witnessing significant growth due to increasing clinical trials and R&D investments in pharmaceuticals and life science. Increasing prevalence of diseases supports clinical trials in different regions.
Various lifestyle associated diseases and genetic disorders in the Middle East and North African countries have also enhanced clinical trials in the respective regions. In addition, the pharmaceutical industry is facing immense pressure to reduce the time consumed during clinical trials and to raise the productivity of drugs.
Presence of various end users such as pharmaceuticals, clinical research organizations (CRO) and healthcare providers has increased the acceptance of e-clinical solution software. The global e-clinical solution software market is estimated at USD 3,005 million in 2014.
It is likely to grow at a CAGR of 13.8% from 2014 to 2020 to reach USD 6,515.3 million in 2020.
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North America is the largest market for the global e-clinical software solution market. Web based e-clinical software solution is the largest mode of delivery and the pharmaceutical industry is the largest end user of e-clinical solution software.
In terms of growth, Asia is the fastest growing region, cloud based e-clinical solution software is the fastest growing mode of delivery and CROs are the fastest growing end users of e-clinical solution software.
The global e-clinical solution software market is estimated at USD 3,005 million in 2014 and is expected to reach USD 6,515.3 million in 2020, growing at a CAGR of 13.8% from 2014 to 2020.
North America is estimated at USD 1,773.9 million in 2014 and is expected to reach USD 3,622.5 million in 2020, growing at a CAGR of 12.6% from 2014 to 2020.
Web based e-clinical solution software is estimated at USD 2,183.9 million in 2014 and is expected to reach USD 4,842 million in 2020, growing at a CAGR of 14.2% from 2014 to 2020.
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