Press release
E Clinical Solution Market to reach US$ 6,515.3 Mn by 2030|Oracle Corporation, Merge Healthcare Incorporated and more
E Clinical Solution Market 2022-2031
The E Clinical Solution Market is bound to grow robustly in the years to come. With smart technology and 5G being increasingly adopted, the healthcare vertical is witnessing a paradigm shift. These technologies can thus increase the convenience quotient (CQ), as abysmal disruption happens in the patients' lives. This convenience quotient would be the trend running in the healthcare vertical shortly.
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 2030", the global e-clinical solution software market was valued at US$ 3,005 Mn in 2021 and is expected to expand at a CAGR of 13.8% from 2021 to 2030, to reach US$ 6,515.3 Mn by 2030.
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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 pharmaceuticals and life science sectors. Increasing prevalence of diseases across the world is leading to rise in number of clinical trials. Various lifestyle-associated diseases and genetic disorders in the Middle East and North Africa have also led to increase 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 effect of drugs. 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.
ARE.
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.
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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Key Questions Answered in the E Clinical Solution Market Report
How is the E Clinical Solution market expected to grow over the projected period?
What direction is the E Clinical Solution market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the E Clinical Solution market in future?
What are the key market drivers in the E Clinical Solution market?
What are significant opportunities and improvement areas for E Clinical Solution manufacturers?
What are the key developments and trends taking over the E Clinical Solution market?
Which are the emerging countries that are expected to create significant growth opportunities in the E Clinical Solution market?
Contact Us:
Persistence Market Research
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U.S. Ph. - +1-646-568-7751
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Sales - sales@persistencemarketresearch.com
About Us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers' experience by acting as the "missing" link between "customer relationships" and "business outcomes'. The best possible returns are assured therein.
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