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.
Albany, NY -- (SBWIRE) -- 09/25/2015 -- E-clinical solution is software that helps researchers easily manage and analyze clinical data. It helps clinical research organizations, pharmaceutical, biotechnology, medical device, and research organizations to magnify their clinical research investment through the use of innovative technologies. Clinical trials are research studies to inspect safety and efficacy of drugs, medical devices, and therapeutic products for humans before they are launched in the market. Growing penetration of computers and the Internet worldwide is driving the application of e-clinical solution software in the clinical trials industry. E-clinical solution software is used widely in the management of clinical trials due to its effectiveness over paper process.
North America dominates the global market for e-clinical solution software due to increasing number of clinical trials in the region. The market in Asia is expected to show high growth rates over the next five years. China and India are expected to be the fastest growing e-clinical solution software markets in Asia. Major key driving forces for the e-clinical solution software market in emerging countries are large pool of patients, increasing healthcare awareness, and increasing clinical trial outsourcing in these regions.
Increasing number of clinical trials, rising need for improved data standardization and reducing the time consumed during clinical trial process, and increasing spending on clinical research and development in the pharmaceutical industry are key growth drivers for the e-clinical solution software market. In addition, increasing clinical trial outsourcing is expected to provide opportunities for new market entrants, which would further drive growth of the e-clinical solution software market. On the other hand, long approval times for clinical trials, high costs of implementation, and lack of skilled manpower are major concerns for the industry. Pharmaceutical and biopharmaceutical companies require approval from competent regulatory authorities in every country before starting a clinical trial. Another challenge faced by the e-clinical solution software market is the lack of high-speed broadband facilities in remote areas. Rising number of mergers, acquisitions, collaborations, and partnerships are major trends in the global e-clinical solution software market.
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This report provides in-depth analysis and estimation of the e-clinical solution software market for the period 2014–2020, considering 2013 as the base year for calculation. In addition, data pertaining to current market dynamics, including market drivers, restraints, trends, and strategic developments has been provided in the report. The e-clinical solution software market is categorized on the basis of mode of delivery, end user, product, and geography. Based on mode of delivery, the e-clinical solution software market comprises web-based e-clinical solution software, cloud-based e-clinical solution software, and licensed enterprise e-clinical solution software. Based on product type, the market comprises clinical data management system, clinical trial management system, electronic clinical outcome assessment solution, randomization and trial supply, and safety solution.
In the geographical analysis, the report identifies and analyzes market size and forecast of North America, Europe, Asia and Rest of the World (RoW). North America is further segmented into the U.S and rest of North America. Similarly, Europe is further segmented into Germany, France and Poland. Asia is further segmented into South Korea and China. Major major players in the e-clinical solution software market are Oracle Corporation, Medidata Solutions, PAREXEL International Corporation, BioClinica, OmniComm Systems. These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability and financial overview.
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