Welcome!

Government Cloud Authors: Elizabeth White, Pat Romanski, Dana Gardner, Liz McMillan, Gopala Krishna Behara

News Feed Item

eClinical Solutions Market Growth to 2018 Forecast at 13.5% CAGR

DALLAS, Feb. 18, 2014 /PRNewswire-iReach/ -- RnRMarketResearch.com adds "eClinical Solutions Market by Products (CDMS/EDC, CTMS, Ecoa , Randomization & Trial Supply Management, Safety), Services, Buyers (Pharma/Biopharma, CROS, Healthcare Providers) & Delivery Modes (Web Hosted, on-Premise, Cloud-Based) – Global Forecast to 2018" to its store.

(Photo: http://photos.prnewswire.com/prnh/20140218/MN66207)

The global eClinical solutions market is estimated to grow at a CAGR of 13.5% and is expected to reach ~$5 billion by 2018. Compared to matured markets, the Asia-Pacific region is expected to grow at the highest CAGR of 19.5%. The growth of the eClinical solutions market is primarily triggered by factors such as, growth in the number of clinical trials, increasing government pressure to reduce the cost and time spent on clinical trials, government funding for conducting clinical research, and significant investment on research and development by pharmaceutical and biopharmaceutical companies for drug development. However, factors such as high cost of implementation of eClinical systems and scarcity of a skilled workforce for conducting clinical trials are restraining the growth of the eClinical solutions market.

In this market, various factors such as the increasing adoption of cloud computing technology for delivering eClinical solutions and rapid growth in clinical trial outsourcing to CROs (clinical research organizations) based in developing countries such as China, South Korea, and India are presenting new growth opportunities for eClinical solution vendors. Moreover, companies are increasingly adopting the strategy of integrating two or more eClinical systems, to strengthen their footprint in the global eClinical solutions market.

In this report, the global eClinical solutions market is broadly segmented into two categories, namely, products and professional services. The products market is further classified into clinical data management systems (CDMS)/electronic data capture (EDC), clinical trial management systems (CTMS), electronic clinical outcome assessment (eCOA), randomization and trial supply management (RTSM), safety solutions, and others. The others segment includes core lab integration systems, regulatory information management services, and coding systems. The professional services segment includes implementation services, training, support services, and consulting. The products market held the largest share of the global eClinical solutions market and is poised to grow at a CAGR of 13.8% in the forecast period. Factors such as the growing need for data standardization to meet regulatory requirements, rising demand for site and data collection solutions, launch of new eClinical systems, and increasing acceptance of ePRO (electronic patient reported outcome) solutions (due to better work efficiency) are stimulating the growth of the eClinical products market.

Order a copy of this report at http://www.rnrmarketresearch.com/contacts/purchase?rname=57734 .

North America (comprising the U.S., Canada, and Mexico) commanded the largest share of ~60.1% of the global eClinical solutions market, followed by Europe (26.4%). A number of factors such as the presence of a well-developed infrastructure, large number of eClinical solution vendors as well as pharmaceutical and biopharmaceutical companies, and favorable reimbursement scenario are driving the growth of the eClinical solutions market in North America. However, high operating cost of conducting clinical trials, and stringent and lengthy regulatory requirements are the major restraining factors for the growth of the eClinical solutions market in North America. The Asia-Pacific region is poised to grow at the highest CAGR of 19.5% in the next five years. The growth of eClinical solutions in the Asia-Pacific market is propelled by factors such as lower cost of conducting clinical trials, increasing clinical trial outsourcing to CROs based in developing economies, and presence of a large patient population in the Asia-Pacific region.

The global eClinical solutions market is highly competitive with a large number of global as well as local market players. As of 2012, the global eClinical solutions market was dominated by Oracle Corporation (U.S.), PAREXEL International Corporation (U.S.), BioClinica, Inc. (U.S.), DATATRAK International, Inc. (U.S.), Medidata Solutions, Inc. (U.S.), PHT Corporation (U.S.), eResearch Technology (U.S.), Merge Healthcare Incorporated (U.S.), and OmniComm Systems, Inc. (U.S). Partnerships, agreements, collaborations, and joint ventures were the key strategies adopted by market players, to strengthen their presence in the market. Along with these strategies, companies in this market also adopted new product launches, product development, and mergers and acquisitions, to strengthen their product portfolio and expand their geographic presence.

Reasons to Buy the Report:

From an insight perspective, this research report has focused on various levels of analysis such as, market share analysis, market segmentation on the basis of products, professional services, type of buyer, delivery mode, geographic analysis, and company profiles, which together comprise and discuss basic views on competitive landscape, emerging and high growth segments of the eClinical solutions market, high growth regions and their respective regulatory policies, government initiatives, restraints, drivers, and opportunities. The above mentioned market research data, current market size, and forecast of future trends will help existing players and new entrants to make necessary decisions regarding product offerings, geographic focus, change in strategic approach, R&D investment for innovation in products and technologies, and levels of output, in order to remain successful.

Firms purchasing this report could use any one or combination of the following strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for reaping market share.

Comprehensive Table of Contents and more for the report "eClinical Solutions Market by Products (CDMS/EDC, CTMS, Ecoa , Randomization & Trial Supply Management, Safety), Services, Buyers (Pharma/Biopharma, CROS, Healthcare Providers) & Delivery Modes (Web Hosted, on-Premise, Cloud-Based) – Global Forecast to 2018" is available at http://www.rnrmarketresearch.com/eclinical-solutions-market-ctms-cdms-edc-ivrs-epro-irb-systems-global-trends-opportunities-forecasts-2012-2017-market-report.html .

Browse more reports on Clinical Information System Industry at http://www.rnrmarketresearch.com/reports/life-sciences/healthcare/information-technology/clinical-information-system .

About Us:

RnR Market Research is a database of selected syndicated market reports for global and China industries including but not limited to life sciences, information technology & telecommunications, consumer goods, food and beverages, energy and power, automotive and transportation, manufacturing and construction, materials and chemicals, public sector as well as business and financial services. We provide 24/7 online and offline support to our customers. Call +1 888 391 5441 with your research requirements or email the details on [email protected] This e-mail address is being protected from spambots. You need JavaScript enabled to view it and we would be happy to help you find the business intelligence that you need.

Media Contact: Priyank Tiwari, RnR Market Research, + 1 888 391 5441, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE RnRMarketResearch

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
Whenever a new technology hits the high points of hype, everyone starts talking about it like it will solve all their business problems. Blockchain is one of those technologies. According to Gartner's latest report on the hype cycle of emerging technologies, blockchain has just passed the peak of their hype cycle curve. If you read the news articles about it, one would think it has taken over the technology world. No disruptive technology is without its challenges and potential impediments t...
If a machine can invent, does this mean the end of the patent system as we know it? The patent system, both in the US and Europe, allows companies to protect their inventions and helps foster innovation. However, Artificial Intelligence (AI) could be set to disrupt the patent system as we know it. This talk will examine how AI may change the patent landscape in the years to come. Furthermore, ways in which companies can best protect their AI related inventions will be examined from both a US and...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Bill Schmarzo, Tech Chair of "Big Data | Analytics" of upcoming CloudEXPO | DXWorldEXPO New York (November 12-13, 2018, New York City) today announced the outline and schedule of the track. "The track has been designed in experience/degree order," said Schmarzo. "So, that folks who attend the entire track can leave the conference with some of the skills necessary to get their work done when they get back to their offices. It actually ties back to some work that I'm doing at the University of San...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...