Global E-Clinical Solution Software Market is estimated to reach $10.6 billion by 2024; growing at a CAGR of 13.4% from 2016 to 2024. E-clinical solution includes technologies that are vital in managing data, increase efficiency, and reduce development costs. E-clinical solution software automates the management of clinical trials and replaces the manually driven methods. They are highly used in research organizations, pharmaceutical sectors, and biotechnology companies. Challenges such as increasing competition and stringent government regulatory, have led to the development of e-clinical technologies. These software captures clinical trials data and aids in faster and better execution. It also provides effective planning, implementation, and tracking of clinical trials data from several environmental areas.
Global E-Clinical Solution Software Market Report, published by Variant Market Research, forecast that the global market was valued at $3.9 Billion in 2016 and expected to reach $10.6 Billion by 2024, growing at a CAGR of 13.4% from 2016 to 2024. In geographical segments, Asia-Pacific and Europe are expected to grow at a CAGR of 18.3% and 13.8%, respectively, over the forecast period 2016 - 2024.
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The global e-clinical solution software market is majorly driven by increasing commonness chronic disease, growing spending on R&D, rise in need for data standardization, surge in number of outsourcing of clinical trials. Though, high price of execution and lack of expertise may hamper the growth of the market.
The global e-clinical solution software market has been categorized into mode of delivery, product, end-user, and geography. Mode of delivery comprises into enterprise licensed, web based e-clinical solution software, and cloud based e-clinical solution software.
Product segment includes clinical trial management system, clinical data management, electronics clinical outcome assessment solution, safety solution, randomization and trail supply management, and other products. Furthermore, end-user consists clinical research organization, pharmaceuticals, and healthcare providers.
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Among product type segments, clinical data management held for the major share in 2016. In mode of delivery segment, web based e-clinical solution software dominated for the highest market share in 2016, followed by cloud based e-clinical solution software.
Moreover, clinical research organization is predicted to dominate the market with the fastest CAGR during forecast period 2016 – 2024.
North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major regions covered in the report. Among which, North America and Europe accounted for the maximum market share in 2016, with 57.6% and 26.7%, respectively.
In terms of growth, Asia-Pacific is anticipated to dominate the market with fastest CAGR during the forecast period 2016 – 2024., owing to, improving healthcare infrastructure, presence of large population base, and adoption of advanced technologies.
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The major key companies operating in the market comprise Medidata Solutions, Inc., Bio-Optronics, Inc., eClinical Solutions, Inc., PAREXEL International Corporation, Oracle Corporation, DATATRAK International, Inc., OmniComm Systems, ERT, CRF Health Inc., and BioClinica Inc., among others.
Scope of the Global E-Clinical Solution Software Market
- Clinical Data Management
- Clinical Trial Management System
- Electronics Clinical Outcome Assessment Solution
- Randomization and Trial Supply Management
- Safety Solution
- Other Products
Mode of delivery Segments
- Web Based E-Clinical Solution Software
- Enterprise Licensed
- Cloud Based E-Clinical Solution Software
- Clinical Research Organization
- Healthcare Providers
- North America
- South Korea
- South America
- Middle East
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