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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