The
global eClinical solutions market is anticipated to exceed USD 13
billion by 2024. The major growth driving factors include a rise in the R&D
activities by various pharma and biopharma companies, growing application of
software solutions in medical trials, rising government funding for promoting
clinical research programs, increasing consumer base, and so on. In addition to
this, rising outsourcing of medical trials to Contract Research Organization
(CROs), growing medical research programs in various Asian countries along with
the development of low-cost modules are also projected to boost the market
growth.
However, high
implementation prices, the lack of skilled labor & awareness about clinical
data sciences software are likely to hinder the growth of the market in the
near future. The global market is divided into products and regions.
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The products sector
includes Electronic Data Capture (EDC), Electronic Clinical Outcome Assessment
(ECOA), Clinical Data Management Systems (CDMS), Randomization and Trial Supply
Management (RTSM), Safety Solutions, Clinical Data Integration Platforms,
Clinical Trial Management Systems (CTMS), and Electronic Trial Master File
(e-TMF). The ECOA sector is projected to experience the maximum growth rate
over the forecast period (from 2016 to 2024), while the CDMS and EDC sectors
are anticipated to dominate the market through the year 2016.
Regionally, the
global eClinical solutions market is segregated as Latin America, North
America, Asia-Pacific, Europe, and the Middle East & Africa. As of 2016,
the North American market is expected to dominate the global market occupying
the largest industry share. The major factor for this growth is the growing
number of ongoing medical trials in the region. Some other factors include the
rising government support for clinical trials, extensive Research &
Development activities resulting in the production and launch of innovative
products, and the increasing occurrences of lifestyle diseases. The APAC region
is also likely to witness a rapid growth over the next few years. The rising
participation of developing countries in the clinical trials is said to augment
the market growth during the estimated years.
The key companies
operating in the global eClinical solutions market are Parexel International
Corp.; ERT inc.; Oracle Corp.; BioClinica; DataTrak International Inc.;
Medidata Solution Inc.; Merge Health Inc.; CRF Health Inc.; OmniComm Systems
Inc.; and eClinical Solutions LLC.
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