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.
E-clinical solution is software that helps researchers to analyze new ways to manage and analyze clinical data. Globally, the e-clinical solution software market is witnessing significant growth due to increasing clinical trials and R&D investments in pharmaceuticals and life science. Prevalence of diseases such as AIDS, diabetics and cancer are increasing in different regions of the world. It has resulted in an increase in pipeline drugs, which require clinical trials before getting approved. Various lifestyle associated diseases and genetic disorders in the Middle East and North African countries have also enhanced clinical trials in the respective regions. In addition, the pharmaceutical industry is facing immense pressure to reduce the time consumed during clinical trials and to raise the productivity of drugs. Presence of various end users such as pharmaceuticals, clinical research organizations (CRO) and healthcare providers has increased the acceptance of e-clinical solution software. However, unavailability of high-speed internet facility in remote areas negatively impacts the growth of the e-clinical solution software market. The global e-clinical solution software market is estimated at USD 3,005 million in 2014. It is likely to grow at a CAGR of 13.8% from 2014 to 2020 to reach USD 6,515.3 million in 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.
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North America is estimated at USD 1,773.9 million in 2014 and is expected to reach USD 3,622.5 million in 2020, growing at a CAGR of 12.6% from 2014 to 2020.
The global randomization and trial supply management in e-clinical solution software market is estimated at USD 231.1 million in 2014 and is expected to reach USD 416.5 million in 2020, growing at a CAGR of 9.2% from 2014 to 2020.
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