Global Eclinical Solutions Market to Reach $7.61 Billion by 2022 - Increasing R&D Expenditure by Pharma-biotech Companies with Augmented IT Budgets for Drug Development - Research and Markets

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May 05, 2017, 05:30 ET

DUBLIN, May 05, 2017 /PRNewswire/ --

Research and Markets has announced the addition of the "eClinical Solutions Market - Global Forecast to 2022" report to their offering.

The global eClinical solutions market is estimated to reach 7.61 Billion by 2022, at a CAGR of 12.4% within the forecast period of 2017 to 2022. 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. However, the low adoption rate in certain geographies due to a lack of awareness related to the benefits of eClinical solutions is the major factor restraining the growth of this market.

The web-based delivery mode segment commanded the largest share of the global eClinical solutions market. A number of factors such as easy user access, reductions in cost, and faster retrieval of data are responsible for its prominent market share. The cloud-based delivery mode segment is estimated to register the highest growth rate during the forecast period. The ease of integration, quicker deployment, and flexible scalability with a fixed monthly fee offered by cloud-based models are expected to drive the demand for these solutions.

On the basis of geography, this market is classified into four regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World. In 2016, North America dominated the global eClinical solutions market; the market in Asia-Pacific is expected to grow at the highest CAGR. This is primarily attributed to the increasing outsourcing of clinical trials by large pharmaceutical and biopharmaceutical organizations to developing Asia-Pacific countries, growth in government funding to support clinical research, presence of less stringent regulatory guidelines compared to developed nations to conduct clinical trials, presence of a large patient base, and faster patient recruitment for clinical trials in the region.

Companies Mentioned

Bio-Optronics, Inc.
Bioclinica, Inc. (A Subsidiary of Cinven)
CRF Health
Datatrak International, Inc.
Eclinical Solutions, LLC.
ERT Clinical
Maxisit Inc.
Medidata Solutions, Inc.
Merge Healthcare Incorporated
Omnicomm Systems, Inc.
Oracle Corporation
Parexel International Corporation

Key Topics Covered:

1 Introduction

2 Research Methodology

4 Premium Insights

5 Market Overview

6 Global Eclinical Solutions Market, By Product

7 Eclinical Solutions Market, By Delivery Mode

8 Global Eclinical Solutions Market, By Clinical Trial Phase

9 Eclinical Solutions Market, By End User

10 Eclinical Solutions Market, By Region

11 Competitive Landscape

12 Company Profiles

For more information about this report visit http://www.researchandmarkets.com/research/r9c7kg/eclinical

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SOURCE Research and Markets