PUNE, India, April 19, 2017 /PRNewswire/ --
According to a new market research report "eClinical Solutions Market by Product (CDMS, EDC, CTMS, eCOA, Analytics, RTMS, eTMF, Safety), Delivery Mode (On-Demand, On-premise, Cloud-based), Clinical Trial Phases, End User (Pharma/Biopharma Companies, CROs, Hospitals) - Global Forecast to 2022", published by MarketsandMarkets™, this report studies the market over the forecast period of 2017 to 2022. The market is expected to grow to USD 7.61 Billion by 2022, at CAGR of 12.4% during the forecast period.
Browse 72 market data Tables and 40 Figures spread through 163 Pages and in-depth TOC on "eClinical Solutions Market"
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The report analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Increasing operational costs and regulatory requirements associated with clinical research studies, government grants to support clinical trials, and increasing R&D expenditure by pharma-biotech companies with augmented IT budgets for drug development are some of the major driving factors for the global eClinical solutions market.
The growing number of clinical research activities in emerging Asia-Pacific countries and a shift from manual data interpretation to real-time data analysis during clinical studies also offer high growth opportunities for market players. On the other hand, high implementation costs associated with eClinical solutions is restricting the growth of this market.
Based on the type of product, the global eClinical solutions market is divided into ten 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), regulatory information management solutions (RIMS), and others (coding systems, institutional review board (IRB) systems, and core lab integration solutions).
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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. Based on the clinical trial phase, the market is divided into four segments phase I, phase II, phase II, and phase IV. On the basis of end users, 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.
North America was the largest regional segment in the global eClinical solutions market in 2016, followed by Europe. The Asia-Pacific market is expected to grow at the highest CAGR from 2017 to 2022. A number of factors, including increasing government funding to support clinical trials, presence of less stringent regulatory guidelines compared to developed nations, availability of a large patient base and faster patient recruitment for clinical trials, and growing number of pharmaceutical companies and CROs are stimulating the growth of the eClinical solutions market in the Asia-Pacific region.
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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.), Merge Healthcare Incorporated (U.S.), OmniComm Systems, Inc. (U.S.), MaxisIT Inc. (U.S.), Bio-Optronics, Inc. (U.S.), and eClinical Solutions, Inc. (U.S.) are some key players operating in the global eClinical solutions market.
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