The E Clinical Solution Market to Get Digitally Distilled

The E Clinical Solution Market is expected to grow on a healthy note in the subsequent decade. With value-based care picking up, close to 15% of the entire population is under its umbrella as of now. Programs like “Online Bachelor’s Degree in General Studies with a Concentration in Healthcare” is being floated, which could aid professionals to lead in the value-based care strategies. In other words, the future belongs to professionals bringing conventional skills in communication, care, and leadership with new-fangled skills in analytics and technology. So, “being value-based” would hold value in the healthcare vertical in the future.

The E Clinical Solution Market is estimated to stand tall amidst digitization in the forecast period. Healthcare IT would be the one creating ripples all through. As of now, it’s merely 60% of the hospitals all across have a mobile device policy. With MDM (mobile device management), asset management/maintenance, remote device wiping, and data encryption to be incorporated in the future, the healthcare vertical is likely to go great guns in the forthcoming period.

According to a new market report published by Persistence Market Research “Global Market Study on E-Clinical Solution Software: Asia to Witness Highest Growth by 2020”, the global e-clinical solution software market was valued at US$ 3,005 Mn in 2014 and is expected to expand at a CAGR of 13.8% from 2014 to 2020, to reach US$ 6,515.3 Mn by 2020.

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The global e-clinical solution software market is witnessing significant growth due to increasing clinical trials and R&D investments in the pharmaceuticals and life science sectors. The increasing prevalence of diseases across the world is leading to rise in a number of clinical trials. Various lifestyle-associated diseases and genetic disorders in the Middle East and North Africa have also led to increasing in clinical trials in the respective regions.

In addition, the pharmaceutical industry is facing immense pressure to reduce the time consumed to conduct clinical trials and increase the effect of drugs. The presence of various end-users such as pharmaceuticals, clinical research organizations (CROs), and healthcare providers has increased the demand for e-clinical solution software.

Company Profiles:

Oracle Corporation.
Merge Healthcare Incorporated.
Medidata Solutions Inc.
PAREXEL International Corporation.
BioClinica.
ERT.
OmniComm Systems Inc.
PHT Corporation.
DATATRAK International Inc.
CRF Health Inc.
Other

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In North America, the average cost of research and development for a successful pharmaceutical drug continues to increase from pre-clinical stage i.e. initial development stage of drug till FDA approval i.e. launch of the drug in the market.

According to Oracle Corporation – an e-clinical software company – the share of global clinical trials conducted in North America has reduced from 30% in 2006 to 19% in 2010. This was due to complex regulatory and legal frameworks in North America, which led to shifting of the clinical trials market to developing countries such as India and China. This may lead to sluggish growth of clinical trials in the region.

Countries in Central and Eastern Europe provide abundant opportunities to life science companies for clinical development. According to Oracle Corporation – the percentage of clinical trials conducted in Western Europe has decreased from 25% to 19% and in Eastern Europe; the percentage has increased from 10% to 13% during 2006-2010.

However, Asia has become one of the fastest-growing markets for pharmaceutical products. Improved industry regulatory laws and patent expiration laws in various countries such as Japan, China, and India, have led to the expansion of the clinical trials market in Asia. Cost of conducting clinical trials in Asia is lower compared to that in Europe and the U.S.

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The e-clinical solution software market is segmented as follows:

By product

Clinical Data Management
Clinical Trial Management System
Electronic Clinical Outcome Assessment Solution
Randomization and Trial Supply Management
Safety Solution

By mode of delivery

Web-based e-clinical solution software
Licensed Enterprise e-clinical solution software
Cloud-based e-clinical solution software

By end-user

Pharmaceutical
Clinical Research Organizations
Healthcare Providers

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This release was published on openPR.