Dublin, Feb. 11, 2016 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/nz7v6m/eclinical) has announced the addition of the "eClinical Solutions Market by Product, Delivery Mode, Clinical Trial Phases, End User - Global Forecast to 2020" report to their offering.
The market is expected to reach USD 5.98 Billion by 2020, at CAGR of 12.1% from 2015 to 2020.
A number of factors such as growing adoption of software solutions during clinical trials, increasing research and development expenditure by pharmaceutical companies, growing government grants to support clinical trials, and rising customer base are propelling the growth of the global market.
However, high implementation cost, dearth of skilled research professionals, and lack of awareness of clinical data sciences software in research community are some of the major factors restraining the growth of this market. In addition to this, challenges associated with this market such as low adoption rate in certain geographies and software reliability and patient privacy issues related with eClinical solutions are also limiting the demand for these solutions.
On the basis of geography, this market is classified into four regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World. In 2015, the global eClinical solutions market is estimated to be dominated by North America. A number of factors such as increasing government grants to support clinical trials, continuous product development and new product launches by eClinical solution vendors, growth in the number of partnerships for new drug development, and high prevalence of lifestyle diseases with increasing aging population are driving the growth of the market in the North American region.
The Asia-Pacific market is expected to grow at the highest CAGR from 2015 to 2020. This is primarily due to the increasing outsourcing of clinical trials by big pharmaceutical and biopharmaceutical organizations to developing Asian countries, growth in government funding to support clinical research, presence of less stringent regulatory guidelines compared to developed nations to conduct clinical trials, presence of a large patient base, and faster patient recruitment for clinical trials in this region.
Scope of the Report
By Product
- Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS)
- Clinical Trial Management Systems (CTMS)
- Clinical Analytics Platform
- Randomization and Trial Supply Management (RTMS)
- Clinical Data Integration Platform
- Electronic Clinical Outcome Assessment (eCOA)
- Safety Solutions
- Electronic Trail Master Files (eTMF)
- Others (Regulatory Information Management Solutions, Coding Systems, and Core Laboratory Integration Solutions)
By Delivery Mode
- Web-hosted (On-demand)
- Licensed Enterprise (On-premise)
- Cloud-based (SaaS)
By Clinical Trial Phase
- Phase I
- Phase II
- Phase III
- Phase IV
By End User
- Pharmaceutical and Biopharmaceutical Companies
- Contract Research Organizations
- Consulting Service Companies
- Medical Device Manufacturers
- Hospitals
- Academic Research Institutions
Companies Mentioned
- Bioclinica, Inc. (A Subsidiary of JLL Partners)
- CRF Health
- Datatrak International, Inc.
- ERT
- Medidata Solutions, Inc.
- Merge Healthcare Incorporated
- Omnicomm Systems, Inc.
- Oracle Corporation
- Parexel International Corporation
- eClinical Solutions, Inc.
For more information visit http://www.researchandmarkets.com/research/nz7v6m/eclinical
eClinical Solutions Market 2016 - Global Forecast to 2020 - Product, Delivery Mode, Clinical Trial Phases, End User Analysis of the $5.9 Billion Market
| Source: Research and Markets