Executive Summary
Global e clinical solutions market was valued approximately USD 3.4 billion in 2016, is anticipated to grow at a CAGR of 15.4% by 2025. The market growth is attributed to the rising government funding and R&D investments from pharma-biotech companies. Moreover, clinical research studies incur higher cost and are highly regulated, thus there is a rapid increase in adoption of cost effective e clinical solution. Additionally, with the advent of big data and healthcare IT, the global healthcare industry is moving towards centralization of data for faster and better execution of healthcare, anywhere across the globe. The e clinical solutions will enable the effective planning, tracking and execution of the healthcare data base across different countries.
By Product:
- Electronic Data Capture and Clinical Data Management Systems
- Clinical Trial Management Systems
- Clinical Analytics Platforms
- Randomization and Trial Supply Management
- Clinical Data Integration Platforms
- Electronic Clinical Outcome Assessment Solutions
- Safety Solutions
- Electronic Trial Master File Systems
- Regulatory Information Management Solutions
- Other e Clinical Solutions
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Delivery Mode:
- Web-Hosted Solutions
- On-Premise Solutions
- Cloud-based(SaaS) Solutions
End User:
- E-Clinical Solutions Market, Sub Segment Analysis
- Contract Research Organizations
- Medical Device Manufacturers
- Hospitals
- Academic Research Institutes
On the basis of delivery mode, currently the market is dominated by web hosted delivery model. The web hosted delivery model aids faster and easy accessibility of data and incurs lower cost than on premise delivery. However, in coming years, cloud hosted models are expected to grow at highest CAGR. The market growth is primarily driven by the ability of cloud to flexibly integrate with multiple platforms and the pay as you go model.
In 2016, North America dominates the global e clinical solutions market with more than 35% revenue share. The market growth is driven by the presence of large number of pharmaceutical and biotechnology firms in the region. Moreover, there is a significant rise in number of clinical trials in the region due to increasing support from government funds. However, during the forecast period, Asia Pacific market is expected to grow at an accelerating rate. Due to less stringent regulations in many Asian countries, the biotechnology and pharmaceuticals companies across the world are outsourcing clinical trials to the developing countries in Asia Pacific.
The report highlights the top market players in the industry and their key strategies to operate in the market place. Some of the key companies discussed in the report include, Bio-Optronics, Inc., CRF Health, Datatrak International, Inc., Eclinical Solutions, LLC., ERT Clinical, Maxisit Inc., Medidata Solutions, Inc., Merge Healthcare Incorporated, Systems, Inc., Oracle Corporation, Parexel International Corporations and others. These companies are primarily engaged in partnerships and agreement, specially partnerships between biotechnology and pharmaceutical firms has been the most followed strategies in recent years.
Continuous…
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