E Clinical Solution Market 2022
Global E-Clinical Solution Software Market Will Reach US$ 6.51 billion in 2022. According to a new market report published by Persistence Market Research “Global Market Study on E-Clinical Solution Software: Asia to Witness Highest Growth by 2022”, the global e-clinical solution software market was valued at US$ 3,005 Mn in 2014 and is expected to expand at a CAGR of 13.8% from 2014 to 2022, to reach US$ 6,515.3 Mn by 2022.
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The global e-clinical solution software market is witnessing significant growth due to increasing clinical trials and R&D investments in pharmaceuticals and life science sectors. Increasing prevalence of diseases across the world is leading to rise in number of clinical trials. Various lifestyle-associated diseases and genetic disorders in the Middle East and North Africa have also led to increase in clinical trials in the respective regions.
In addition, the pharmaceutical industry is facing immense pressure to reduce the time consumed to conduct clinical trials and increase effect of drugs. Presence of various end users such as pharmaceuticals, clinical research organizations (CROs), and healthcare providers has increased the demand for e-clinical solution software.
Company Profiles:
- Oracle Corporation.
- Merge Healthcare Incorporated.
- Medidata Solutions Inc.
- PAREXEL International Corporation.
- BioClinica.
- ERT.
- OmniComm Systems Inc.
- PHT Corporation.
- DATATRAK International Inc.
- CRF Health Inc.
- Other
In North America, the average cost of research and development for a successful pharmaceutical drug continues to increase from pre-clinical stage i.e. initial development stage of drug till FDA approval i.e. launch of the drug in the market. According to Oracle Corporation – an e-clinical software company – the share of global clinical trials conducted in North America has reduced from 30% in 2006 to 19% in 2010. This was due to complex regulatory and legal frameworks in North America, which led to shifting of the clinical trials market to developing countries such as India and China. This may lead to sluggish growth of clinical trials in the region.
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Countries in Central and Eastern Europe provide abundant opportunities to life science companies for clinical development. According to Oracle Corporation – the percentage of clinical trials conducted in Western Europe has decreased from 25% to 19% and in Eastern Europe; the percentage has increased from 10% to 13% during 2006-2010.
However, Asia has become one of the fastest-growing markets for pharmaceutical products. Improved industry regulatory laws and patent expiration laws in various countries such as Japan, China, and India, have led to the expansion of the clinical trials market in Asia. Cost of conducting clinical trials in Asia is lower compared to that in Europe and the U.S.
The e-clinical solution software market is segmented as follows:
By product
- Clinical Data Management
- Clinical Trial Management System
- Electronic Clinical Outcome Assessment Solution
- Randomization and Trial Supply Management
- Safety Solution
By mode of delivery
- Web based e-clinical solution software
- Licensed Enterprise e-clinical solution software
- Cloud based e-clinical solution software
By end user
- Pharmaceutical
- Clinical Research Organizations
- Healthcare Providers
Key geographies evaluated in this report are:
North America – U.S, Canada
Europe – France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC – China, India, Japan, Australia, Others
Latin America – Argentina, Brazil, Others
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Key Questions Answered in This Report.
- What will the Market growth rate in Future?
- What are the key factors driving the global Market?
- Who are the key manufacturers in Market space?
- What are the opportunities and threats faced by the vendors in the global industry?
- What are sales, revenue, and price analysis by regions of industry?
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