Health & Safety Industry Today
Global E-Clinical Solution Software Market expected to grow at a CAGR of 13.8% from 2014 to 2020
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.
Published 25 August 2015
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 2020”, 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 2020, to reach US$ 6,515.3 Mn by 2020.
Browse the full E-Clinical Solution Software Market report at http://www.persistencemarketresearch.com/market-research/e-clinical-solution-market.asp
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. 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 2020 to reach US$ 6,515.3 Mn by 2020.
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.
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.
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Oracle Corporation, Medidata Solutions, PAREXEL International Corporation, BioClinica, and OmniComm Systems are some of the major players of e-clinical solution software market.
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
By geography
- North America
- U.S
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Poland
- Russia
- Asia
- China
- South Korea
- Taiwan
- India
- Rest of the World (Row)
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