Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Health

New market study, "eClinical Solutions Market - Global Forecast to 2018", has been published


Print article Print article
2014-02-22 15:40:51 - Fast Market Research recommends "eClinical Solutions Market - Global Forecast to 2018" from Markets and Markets, now available

eClinical Solutions Market by Products (CDMS/EDC, CTMS, Ecoa , Randomization & Trial Supply Management, Safety), Services, Buyers (Pharma/Biopharma, CROS, Healthcare Providers) & Delivery Modes (Web Hosted, on-Premise, Cloud-Based) - Global Forecast to 2018

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. However, high operating cost of conducting clinical trials, and stringent and lengthy regulatory requirements are the major restraining factors for the growth of the eClinical solutions market in North America. The Asia-Pacific region is poised to grow at the highest CAGR of 19.5% in the next five years. The growth of eClinical solutions in the Asia-Pacific market is propelled by factors such as lower cost of conducting clinical trials, increasing clinical trial outsourcing to CROs based in developing economies, and presence of a large patient population in the Asia-Pacific region.
The global eClinical solutions market is highly competitive with a large number of global as well as local market players. As of 2012, the global eClinical solutions market was dominated by Oracle Corporation (U.S.), PAREXEL International Corporation (U.S.), BioClinica, Inc. (U.S.), DATATRAK International, Inc. (U.S.), Medidata Solutions, Inc. (U.S.), PHT Corporation (U.S.), eResearch Technology (U.S.), Merge Healthcare Incorporated (U.S.), and OmniComm Systems, Inc. (U.S). Partnerships, agreements, collaborations, and joint ventures were the key strategies adopted by market players, to strengthen their presence in the market. Along with these strategies, companies in this market also adopted new product launches, product development, and mergers and acquisitions, to strengthen their product portfolio and expand their geographic presence.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis such as, market share analysis, market segmentation on the basis of products, professional services, type of buyer, delivery mode, geographic analysis, and company profiles, which together comprise and discuss basic views on competitive landscape, emerging and high growth segments of the eClinical solutions market, high growth regions and their respective regulatory policies, government initiatives, restraints, drivers, and opportunities. The above mentioned market research data, current market size, and forecast of future trends will help existing players and new entrants to make necessary decisions regarding product offerings, geographic focus, change in strategic approach, R&D investment for innovation in products and technologies, and levels of output, in order to remain successful.

Full Report Details at
- www.fastmr.com/prod/777406_eclinical_solutions_market_global_for ..

About MarketsandMarkets

MarketsandMarkets (M&M) is a global market research and consulting company based in the U.S. The company publishes high-level strategically analyzed reports for over ten industry verticals and serves as a business intelligence partner to Fortune 500 companies across the world. View more research from Markets and Markets at www.fastmr.com/catalog/publishers.aspx?pubid=1014

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at www.fastmr.com or call us at 1.800.844.8156.


Author:
Bill Thompson
e-mail
Web: www.fastmr.com
Phone: 18008448156

Disclaimer: If you have any questions regarding information in these press releases please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims contents contained in this release.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com