E-Clinical Solution Software Market
E-Clinical Solution Software Market - Global Industry Analysis, Size, Share, Trends, Growth and Forecast 2014 - 2020
Press Release :
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. Increasing prevalence of diseases supports clinical trials in different regions. 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. 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.
The global e-clinical solution software market is estimated at USD 3,005 million in 2014 and is expected to reach USD 6,515.3 million in 2020, growing at a CAGR of 13.8% from 2014 to 2020.
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.
Web based e-clinical solution software is estimated at USD 2,183.9 million in 2014 and is expected to reach USD 4,842 million in 2020, growing at a CAGR of 14.2% from 2014 to 2020.
E-Clinical Solution Software Market: Overview
The present-day healthcare industry, with an increasingly connected and technology advanced operational infrastructure, has become one of the largest producers of private and sensitive information about the millions of patients it caters to on an everyday basis. The overwhelming volume patient data produced from hospitals, clinics, medical networks, diagnostic laboratories, insurance companies, and the several other parties and sources to an internal network requires highly effective ways of managing it.
With just the data from paperwork and medical records contributing to a mammoth share of the vast data volume it produces, additional data being poured in from sources such as clinical trials, remote monitoring devices, and research makes data management in healthcare sector a huge issue requiring proper digital intervention. This report on the global e-clinical solution market presents a detailed overview of the present growth dynamics of this immensely high-growth potential market. The report also includes vast predictions about the growth prospects of the market and its segments over the period between 2014 and 2020.
The report analyzes the variety of software products specifically designed to cater to the data management, processing, and transfer needs of the global healthcare industry. The report examines the key aspects expected to have a significant influence on the overall growth dynamics of the market over the said period. As such, factors such as growth drivers, opportunities, trends, challenges, competitive landscape, and regulatory aspects governing the market across key regional markets are examined.
E-Clinical Solution Software Market: Drivers and Restraints
The vast rise in availability of highly reliable and high-speed internet connectivity and easy access to advanced computer systems have made industries such as clinical trial and research industries extremely sophisticated and connected. The healthcare infrastructure across the globe is also becoming increasingly connected and digitized, making easy the convergence of data from a variety of healthcare platforms at a central node. The healthcare industry is increasingly realizing the need for effective and sophisticated e-clinical solutions to manage all this data.
E-clinical solutions are also being favored more than manually operated and paper-based data management and storage systems owing to the obvious benefits of computerized systems over manual ones in terms of effectiveness, speed, cost, and productivity. The rising competition in the market has led to the entry of a large number of companies in the scene, allowing the availability of an increasing number of products and solutions and reduction in cost. Cost reductions in e-clinical solutions are considered to be beneficial for targeting consumers in developing economies, which make for one of the high-growth consumer sectors owing to vast untapped opportunities.
E-Clinical Solution Software Market: Segmentation
The report segments the market on the basis of aspects such as mode of delivery, product, end-user, and geography.
On the basis of mode of delivery, the global e-clinical solution market has been segmented into licensed enterprise, cloud-based, and web -based e-clinical solution software. From the perspective of type of product, the market is segmented into electronic clinical outcome assessment, clinical data management, trial supply management, clinical trial management, randomization, and safety software solutions.
The key end-use sectors of e-clinical software solution examined in the report are chemical research organizations, healthcare providers, and pharmaceutical. Geographically, the market is examined for Asia Pacific, North America, Europe, and the Rest of the World (RoW).
E-Clinical Solution Software Market: Competitive Landscape
Some of the notable vendors operating in the global e-clinical software solution market profiled in the report are Oracle Corporation, PAREXEL International Corporation, Medidata Solutions, OmniComm Systems, and BioClinica.
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments