Albany, NY -- (SBWIRE) -- 09/11/2017 -- Transparency Market Research (TMR) has recently published a market study on the global E-clinical solution software market, estimating the market to expand at a CAGR of 13.80% during the period from 2014 to 2020 and reach a market value of US$6.8 bn by the end of the forecast period.The research report, titled "E-Clinical Solution Software Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020", states that the worldwide E-clinical solution software market stood at US$3 bn in 2014. The rising number of clinical trials has been considered as the key driving force behind the growth of this market.
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The research report analyzes the worldwide E-clinical solution software market on the basis of product, mode of delivery, and end-use industry. By product type, the global market for E-clinical solution software is classified into the solutions markets for clinical trial management, clinical data management, electronic clinical outcome assessment, trial supply management, and safety solutions.
Based on the mode of delivery, it is categorized into the markets for web-based solution software, cloud-based solution software, and licensed enterprise solution software. The web-based e-clinical software solution market has been reporting the highest growth, whereas the cloud-based e-clinical solution software market is likely to report the fastest development among all the segments based on mode of delivery. The web-based e-clinical solution software market stood at US$2.1 bn in 2014. Analysts project it to reach a value of US$4.8 bn by the end of 2020, expanding at an estimated CAGR of 14.20% between 2014 and 2020.
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The pharmaceutical industry, the healthcare sector, and chemical research organizations (CROs) are the key end users of E-clinical solution software across the globe. The pharmaceutical industry is reporting the highest demand for E-clinical solution software, owing to which this segment is likely to be the leading end user over the forecast period. On the other hand, the CROs segment is projected to post the fastest growth among all the end users in the coming years, says the report.
As per the report, the global market for E-clinical solution software is divided into North America, Asia Pacific, Europe, and the Rest of the World. Among these, North America has emerged as the leading market for E-clinical solution software in the global arena. The North America E-clinical solution software market stood at US$1.7 bn in 2014. Analysts expect it to expand at a CAGR of 12.60% between 2014 and 2020 and reach a value of US$3.6 bn by the end of the forecast period. The Asia Pacific market for E-clinical solution software, however, is reported to witness the fastest growth over the forthcoming years, notes the study.
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The research report also presents the competitive landscape prevalent in the global E-clinical software market by analyzing the company profile of key market players. Oracle Corp., Medidata Solutions Inc., Merge Healthcare Inc., PAREXEL International Corp., ERT, BioClinica, OmniComm Systems Inc., DATATRAK International Inc., PHT Corp., and CRF Health Inc. are the major E-clinical solution software providers in the global arena, states the market study.