|By PR Newswire||
|April 3, 2014 07:01 PM EDT||
DUBLIN, April 4, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/ndmgw7/eclinical) has announced the addition of the "eClinical Solutions Market by Products, Services, Buyers & Delivery Modes - Global Forecast to 2018" report to their offering.
The global eClinical solutions market is estimated to grow at a CAGR of 13.5% and is expected to reach -$5 billion by 2018. Compared to matured markets, the Asia-Pacific region is expected to grow at the highest CAGR of 19.5%.
The growth of the eClinical solutions market is primarily triggered by factors such as, growth in the number of clinical trials, increasing government pressure to reduce the cost and time spent on clinical trials, government funding for conducting clinical research, and significant investment on research and development by pharmaceutical and biopharmaceutical companies for drug development. However, factors such as high cost of implementation of eClinical systems and scarcity of a skilled workforce for conducting clinical trials are restraining the growth of the eClinical solutions market.
In this market, various factors such as the increasing adoption of cloud computing technology for delivering eClinical solutions and rapid growth in clinical trial outsourcing to CROs (clinical research organizations) based in developing countries such as China, South Korea, and India are presenting new growth opportunities for eClinical solution vendors. Moreover, companies are increasingly adopting the strategy of integrating two or more eClinical systems, to strengthen their footprint in the global eClinical solutions market.
In this report, the global eClinical solutions market is broadly segmented into two categories, namely, products and professional services. The products market is further classified into clinical data management systems (CDMS)/electronic data capture (EDC), clinical trial management systems (CTMS), electronic clinical outcome assessment (eCOA), randomization and trial supply management (RTSM), safety solutions, and others. The others segment includes core lab integration systems, regulatory information management services, and coding systems.
The professional services segment includes implementation services, training, support services, and consulting. The products market held the largest share of the global eClinical solutions market and is poised to grow at a CAGR of 13.8% in the forecast period. Factors such as the growing need for data standardization to meet regulatory requirements, rising demand for site and data collection solutions, launch of new eClinical systems, and increasing acceptance of ePRO (electronic patient reported outcome) solutions (due to better work efficiency) are stimulating the growth of the eClinical products market.
North America (comprising the U.S., Canada, and Mexico) commanded the largest share of -60.1% of the global eClinical solutions market, followed by Europe (26.4%). A number of factors such as the presence of a well-developed infrastructure, large number of eClinical solution vendors as well as pharmaceutical and biopharmaceutical companies, and favorable reimbursement scenario are driving the growth of the eClinical solutions market in North America.
Key Topics Covered:
2 Executive Summary
3 Market Overview
4 eClincal Solutions Market, By Product
5 eClincal Solutions Market, By Professional Services
6 Global eClincal Solutions Market, By Type Of Buyer
7 eClincal Solutions Market, By Delivery Mode
8 Geographic Analysis
9 Competitive Landscape
10 Company Profiles
- Bioclinica, Inc.
- CRF Health
- Datatrak International, Inc.
- Eresearch Technology, Inc.
- Medidata Solutions, Inc.
- Merge Healthcare Incorporated
- Omnicomm Systems, Inc.
- Oracle Corporation
- PHT Corporation
- Parexel International Corp.
For more information visit http://www.researchandmarkets.com/research/ndmgw7/eclinical
Media Contact: Laura Wood, +353-1-481-1716, [email protected]
SOURCE Research and Markets