Factors for increasing growth of global eClinical solutions market such as increasing outsourcing of clinical trial studies, presence of large patient population, and low operating cost in conducting clinical trials are propelling the growth of the eClinical solutions market.
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The growth of the global eClinical solutions market is driven by factors such as rising adoption of software solutions during clinical trials, increasing R&D expenditure by pharmaceutical companies, growing government grants to support clinical research, and rising customer base. Increasing clinical research in emerging Asian countries, shift of clinical trials and resources from AMCs to CROs, and developments of cost effective modules are offering new growth opportunities for the eClinical solutions vendors.
“North America is estimated to command the largest share of 59.6% of the global eClinical solutions market.”
Nonetheless, the high implementation cost, dearth of skilled research professionals, and lack of awareness of clinical data sciences software in research community are the key reasons hampering the growth of the eClinical solutions market.
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“The EDC and CDMS segment is estimated to account for the largest share of the global eClinical solutions market in 2015”
Regions like North America, Europe and Asia-Pacific shows highest growth in eClinical solutions market. The EDC and CDMS segment is estimated to account for the largest share of the global eClinical solutions market in 2015. However, the eCOA segment is expected to grow at the highest CAGR during the forecast period. Increasing demand for eDiaries in clinical studies to collect patient self-reports by major pharmaceutical companies and rising adoption of mobile and digital technologies are driving the growth of this market segment.
“Asia-Pacific region is poised to grow at the highest CAGR of 16.1% in the next five years.”
The eClinical solutions market is highly competitive, with a large number of global and local providers of eClinical solutions market, such as:
- Oracle Corporation (U.S.)
- Medidata Solutions, Inc. (U.S.)
- PAREXEL International Corporation (U.S.)
These companies together accounted for 44.9% of the global market.
Partnerships, agreements, and collaborations; product launches and product enhancements; product deployments; mergers and acquisitions; and geographic expansions are the major strategies adopted by most of the market players to achieve growth in the eClinical solutions market.
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The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on eClinical solutions offered by the top 10 players in the eClinical solutions market. The report analyzes the eClinical solutions market by product, delivery mode, clinical trial phase, and end users across four geographies
• Product Development/Innovation: Detailed insights on current technologies, research and development activities, and new product launches in the eClinical solutions market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various eClinical solutions across four geographies North America, Europe, Asia-Pacific, and Rest of the World
• Competitive Assessment: Assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the eClinical solutions market
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