eClinical Solutions Market Worth $5 Billion by 2018
DALLAS, Texas, January 24, 2014 /PRNewswire/ --
The report "eClinical Solutions Market by Products (CDMS/EDC, CTMS, Ecoa, Randomization & Trial Supply Management, Safety),Services,Buyers (Pharma/Biopharma, CROS, Healthcare Providers) & Delivery Modes (Web Hosted, on-Premise, Cloud-Based) - Global Forecast to 2018", analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and Rest of the world (RoW).
Browse 56 market data tables and 48 figures spread through 244 pages and in-depth TOC on "eClinical Solutions Market"
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This report studies the global eclinical Solutions Market over the forecast period of 2013 to 2018. The market is expected to reach ~$5 billion by 2018, at a CAGR of 13.5% from 2013 to 2018.
The global eClinical Solutions Market is divided into two segments, namely, products market and professional services market. The products market has been further classified into clinical data management systems (CDMS)/electronic data capture (EDC), clinical trial management systems (CTMS), electronic clinical outcome assessment (eCOA), randomization and trial supply management (RTSM), safety solutions, and others. The others segment consists of core lab integration systems, regulatory information management services, and coding systems. The professional services segment includes implementation services, training, support services, and consulting.
Based on the type of buyer, the global eClinical Solutions Market is segmented into pharmaceutical/ biopharmaceutical/ medical device companies, clinical research organizations (CROs), and healthcare providers. Based on the type of delivery mode, the global eClinical Solutions Market is classified as web-based, on-premise, and cloud-based eClinical Solutions.
A number of factors such as the increasing pressure for reducing the cost and time consumed during clinical trial processes; rising need for improved data standardization in terms of improving and maintaining the quality of clinical trial procedures to meet regulatory requirements; government grants and initiatives to support drug development; increasing adoption of cloud-based Eclinical Solutions; and significant spending on clinical research and development by pharmaceutical and biopharmaceutical industries are driving the growth of the eClinical Solutions Market. On the other hand, factors such as the high capital requirement for implementation of eClinical Systems and the growing burden on clinical research teams in terms of skilled labor force and training are restricting the growth of this market. However, a number of factors such as, growth in the number of clinical researches in emerging regions, increasing adoption of cloud technology for the development of eClinical suits, and shifting trend of clinical resources from AMCs (Academic Medical Centers) to CROs are expected to offer high growth opportunities for eClinical solution vendors.
As of 2013, North America held the largest share of ~60.1% in the global eClinical Solutions Market, followed by Europe (26.4%). However, the Asia-Pacific market is expected to grow at the highest CAGR of ~19.5% from 2013 to 2018. A number of factors such as, presence of a large patient population, faster recruitment of patients in developing countries, availability of low cost CROs, increasing government support, shortage of trial volunteers in European and North American countries, and growth in the number of pharmaceutical companies are driving the growth of the eClinical Solutions Market in the Asia-Pacific region.
The major players in the global eClinical Solutions Market are PAREXEL International Corporation (U.S), BioClinica, Inc. (U.S), Oracle Corporation (U.S), CRF Health (U.S), DATATRAK International, Inc. (U.S), Medidata Solutions, Inc. (U.S), PHT Corporation (U.S), eResearch Technology (U.S), Merge Healthcare Incorporated (U.S), and OmniComm Systems, Inc. (U.S).
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