Press release
Worldwide “Eclinical Solution Market” to Soar With Increased Demand Trends in the Forecast Period till 2022
Eclinical Solution Market
As user management of various clinical activities are simplified to a great extent by employing web or internet based tools and software services, the sector is witnessing renewed demand. Increased rates of adoption of software has been instrumental in the further development of the market. Substantial reduction in the cost of operations and regulations related to clinical research studies will significantly boost the market positively.
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Industry Segments
The global e-Clinical solution market is segmented on the basis of products and on the basis of delivery method. Based on products used the market is segmented into by product clinical data integration, Clinical Data Management System (CDMS), Clinical Trial Management System (CTMS), Randomization And Trial Supply Management (RTSM), safety solutions and others. CDMS segment has the largest market share in 2015 and is expected to show further growth in the forecasted period majorly due to rising demand for mobile and web based technology worldwide. Based on delivery methods the market is segmented into web based, Enterprise, and cloud based solutions. Cloud based solutions are projected to be the fastest growing sector during the forecasted period due to growing approval of these technologies worldwide and also due to the facilities such as access to data from any place provided by these softwares.
Detailed Regional Analysis
The e-clinical solutions market being extremely competitive comprises of a large number of global and local providers of e-clinical solutions. Developed regions including North America and Europe held large shares in the e-clinical solutions market in 2015, the developing countries of Asia-Pacific region is expected to grow at the highest CAGR in the next five years due to factors such as the increasing outsourcing of clinical trial studies by the large pharma and biopharma companies in Asia-Pacific region, presence of large patient population, and low operating cost in directing clinical trials are driving the growth of the e-clinical solutions market in this region.
Less stringent regulatory guidelines compared to developed nations in these countries, shortage of trial volunteers in Europe, North America, and other developed countries, growing number of life science and healthcare research companies and CROs are the key factors leading to the increased demand for e-clinical solutions in emerging markets.
Global Competitive Analysis
The sector is undergoing considerable transformation which has accelerated the growth pace of the sector. In order to leverage the high growth opportunities offered by these emerging economies, leading market players are expanding their presence in these countries. The best long-term growth opportunities for this sector can be harnessed by ensuring ongoing process improvements and maintaining financial flexibility to invest in the optimal strategies. However, with companies aiming to capture a considerable share of the market segment as early as possible, they implementing and experimenting with various advantage points.
Key players profiled in the report are ERT (U.S.), e-Clinical Solutions, Inc. (U.S.), Merge Healthcare Incorporated (U.S.), and OmniComm Systems, Inc. (U.S.), Medidata Solutions, Inc. (U.S.), DATATRAK International, Inc. (U.S.), and Oracle Corporation (U.S.).
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Latest Industry News:
Jan 2018 CompleWare and YPrime have announced a partnership agreement to deliver enhanced service offerings involving clinical trials, electronic clinical outcome assessment (eCOA) technology and interactive response technologies (IRT). Focusing on respiratory trials, CompleWare will pair the eClinical software with integrated service solutions to deliver successful outcomes. YPrime's eCOA application collects clinical data using a secure, regulatory-compliant platform while their IRT+ offering efficiently manages clinical supplies, site activities and patient interactions.
Oct 2017 eClinical Solutions LLC, an industry-leading provider of end-to-end data management services and cloud based products for clinical data optimization, announced that the elluminate Data Intelligence Hub was selected as the winner of the Society of Clinical Data Management (SCDM) NextGen Technology Innovation Award. The 2017 SCDM Next Gen Technology Awards looks to identify innovations that utilize novel technologies to improve clinical trials.
Oct 2017 MedNet Solutions, an innovative cloud-based eClinical technology company that supports the entire spectrum of clinical research, has announced the latest release of iMedNet, which is agile, efficient, and effective eClinical solution, is now available for all customers. iMedNet is a proven Software-as-a-Service (SaaS) clinical research technology platform that not only provides Electronic Data Capture (EDC), but also delivers an entire suite of eClinical tools to support any clinical trial from start to finish.
Dec 2017 eClinicalWorks has rolled out its voice-activated virtual assistant, dubbed "Eva," in December. The voice-activated assistant is meant to help clinicians find relevant patient information more quickly.
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