Global E-Clinical Solution Software Market to Grow at 13.80% CAGR Through 2020

ALBANY, USA, 2018-May-14 — /EPR Network/ —Market Research Reports Search Engine (MRRSE) has announced that its repository now features a report titled “E-Clinical Solution Software Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.” The report, by Transparency Market Research, predicts that the global e-clinical solution software market was valued at US$3,005 mn in 2014 and is predicted to reach US$6,515.3 mn by 2020. The market will expand at a 13.80% CAGR from 2014 to 2020.

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The report states that the increasing spending on clinical research and development in the pharmaceutical sector and the rising number of clinical trials globally are the chief factors boosting the development of the e-clinical solution software market. Furthermore, the soaring need for improved data standardization and the increasing outsourcing of clinical trials are also amongst the major factors stimulating the growth of the market. However, the increasing cost of implementation and the lack of skilled professionals may inhibit the growth of the market. Furthermore, the dearth of high-speed broadband facilities and long duration of time taken for the approval of clinical trials may also pose a negative impact on the growth of the market, as stated in this study.

Moving further, on the basis of mode of delivery, the report segments the market into cloud-based e-clinical solution software, licensed enterprise e-clinical solution software, and web-based e-clinical solution software. Out of these, the web-based e-clinical solution software segment dominated the market in 2014 and held a share of US$2,183.9 mn. This segment is anticipated to touch US$4,842 mn by 2020, by rising at a CAGR of 14.60% from 2014 to 2020, while the cloud-based e-clinical solution software segment is poised to exhibit the highest growth rate in comparison to other segments.

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In terms of product, the report segments the market into electronic clinical outcome assessment solution, clinical data management, safety solution, clinical trial management system, and randomization and trial supply management. On the basis of end use, the market is segmented into pharmaceutical, healthcare providers, and clinical research organizations. Among these, the pharmaceutical industry highly demands e-clinical solution software and it thus stood as the most dominant end-use segment of the market, while clinical research organizations are expected to register the highest growth rate in the coming years.

Furthermore, on the basis of geography, the report segments the market for e-clinical solution software into Europe, Asia Pacific, North America, Europe, and Rest of the World (RoW). Amongst these, the region of Asia Pacific is poised to register the highest growth in the forecast period, while the market was led by North America in 2014.

As stated in the report, the key players in the market are BioClinica, OmniComm Systems, Oracle Corporation, and Medidata Solutions, among others.

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