PUNE, India, February 4, 2016 /PRNewswire/ --
According to a new market research report "eClinical solutions Market by Product (CDMS, EDC, CTMS, eCOA, Analytics, RTMS, eTMF, Safety), Delivery Mode (Web Hosted, On-premise, Cloud-based), Clinical Trial Phases, End User (Pharma/Biopharma Companies, CROs, Hospitals) - Global Forecast to 2020", published by MarketsandMarkets, This report studies the market over the forecast period of 2015 to 2020. The market is expected to reach USD 5.98 Billion by 2020, at CAGR of 12.1% from 2015 to 2020.
Browse 70 market Tables and 49 Figures spread through 160 Pages and in-depth TOC on "eClinical solutions Market"
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Based on type of product, the global eClinical solutions Market is divided into nine segments, namely, electronic data capture (EDC) and clinical data management systems (CDMS), clinical trial management systems (CTMS), clinical analytics platform, randomization & trial supply management systems (RTMS), clinical data integration platforms, electronic clinical outcome assessment (eCOA), safety solutions, electronic trail master files (eTMF), and others (regulatory information management solutions, coding systems, and core laboratory integration solutions). The eClinical solutions Market has also been segmented on the basis of delivery mode-- into web-hosted (On-demand), licensed enterprise (On-premise), and cloud-based (SaaS) solutions. Bases on clinical trial phase, the market are divided into four segments phase I, phase II, phase II, and phase IV. On the basis of end user, the global eClinical solutions Market has been segmented into pharmaceutical and biopharmaceutical companies, contract research organizations, consulting service companies, medical device manufacturers, hospitals, and academic research institutions.
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A number of factors such as growing adoption of software solutions during clinical research and trials, increasing R&D expenditure by pharmaceutical and biopharmaceutical companies, growing government funding to support clinical trials, and rising number of life science companies and CROs are propelling the growth of the eClinical solutions Market. In addition, increasing clinical research in emerging Asian countries, increasing outsourcing of clinical trials to CROs, and developments of cost effective modules are offering high growth opportunities for market players. On the other hand, high implementation cost, dearth of skilled research professionals, and lack of awareness of clinical data sciences software in research community are restricting the growth of the global eClinical solutions Market.
North America is estimated to be the largest regional segment in the global eClinical solutions Market in 2015, followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR of 16.1% from 2015 to 2020. A number of factors, including increasing government funding to support clinical trials, presence of less stringent regulatory guidelines compare to developed nations to conduct clinical trials, availability of large patient base and faster patient recruitment for clinical trial, and growing number of pharmaceutical companies and CROs are stimulating the growth of the eClinical solutions Market in the Asia-Pacific region.
Oracle Corporation (U.S.), Medidata Solutions, Inc. (U.S.) PAREXEL International Corporation (U.S.), BioClinica, Inc. (U.S.), CRF Health (U.S.), DATATRAK International, Inc. (U.S.), ERT (U.S.), eClinical Solutions, Inc. (U.S.), Merge Healthcare Incorporated (U.S.), and OmniComm Systems, Inc. (U.S.) are some key players operating in the global eClinical solutions Market.
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