Global e-clinical solution software market is expected to show significant growth over the forecast period as a consequence of rising number of clinical research activities. This rise in number of clinical research activities chipped in the need for sophisticated data management and standardization of data.
Additionally, it is mandatory for every organization to maintain error free documentation without manipulations as compliance to regulatory bodies. E-clinical software offers real time documentation hence give no scope for any further manipulations in data thereby, prompting the use of e-clinical software worldwide. Furthermore, these computer applications reduce data entry as well as data processing time substantially; this is an important factor boosting the growth of e-clinical solution software market.
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The market is divided on the basis of end-use, product and mode of delivery. The market based on end-use is divided into healthcare providers, pharmaceuticals and clinical research organizations. Pharmaceutical segment under end-use held lucrative share in 2014 as a result of immense investments made by pharmaceutical organizations in clinical research and development.
However, clinical research organization segment is expected to witness lucrative growth in coming seven years as a consequence of enduring trend of outsourcing, especially outsourcing clinical research operations which substantially saves time of companies and gives high compliance to the good clinical practices.
E-clinical solution software market on basis of product is divided into clinical data management system, clinical trial management system, trail supply management & safety solutions and randomization. Clinical data management systems had the largest share in 2014 as they have wide applications in pharmaceutical industry.
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Market on the basis of mode of delivery is segmented into web based, cloud based and licensed enterprise. Web based software held the largest share in 2014 owing to their easy deliverability and upgradation. However, cloud based e-clinical solution software are expected to show significant growth in coming seven years due to benefits associated with them like remote access to data and safe & secure data management.
Global e-clinical solution software market is divided into North America, Europe, Asia Pacific, Latin America and MEA. North America held the largest market share in 2014 owing to developed infrastructure which provide high speed internet connection and highly configured computer systems. Additionally, multinational organizations in North America are mainly focused on new drug development hence, leading to high demand of these computer applications.
Asia Pacific is expected to witness significant growth over the forecast period as result of factors such as improvisation in healthcare policies with government initiatives and high demand of sophisticated technologies.
The key players contributing to e-clinical solution software market includes PAREXEL International, Medidata Solutions, BioClinica Inc., PHT Corporation, OmniComm Systems, DATATRAK International, Oracle Corporation and eResearch Technology. The strategies adopted by these market players include investment in developing regions such as Asia Pacific to meet the increasing demand and mergers & acquisitions to strengthen product portfolio to increase geographical reach.
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