Global E clinical solution software market is anticipated to show lucrative growth over the forecast period owing to increasing number of clinical research activities. Hike in the number of clinical research activities has led to the need for improved standardization of clinical data. In addition, as a part of stringent requirements of regulatory bodies, it’s mandatory for every company to maintain clinical data which should be error-free and without any manipulations. Since E clinical solution software is equipped with real-time data entry hence it allows error-free data entry and provides no scope for manipulations, thereby, propelling the use of E clinical solution software globally. Moreover, use of E clinical solution software reduces data entering and processing time significantly, this is another important factor boosting the growth of the e-clinical software solution market. Furthermore, the need for a more sophisticated data management technique led to adoption of E clinical solution software hence augmenting the E clinical solution software market. Moreover, technological advancements like cloud computing which allow secure data backup and global access are helping this market to grow.
Global E clinical solution software market is segmented on the basis of products, mode of delivery, and end-use. The market on basis of products is divided into the clinical trial management systems, clinical data management system, randomization, and trial supply management & safety solutions. The clinical data management system held the largest share in 2014 owing to its wide applications in the pharmaceutical industry. Furthermore, increasing pressure to reduce time and cost on clinical research has led to more use of clinical data management systems. Presences of large numbers of molecules in pipeline for clinical research in coming years is expected to result in the spurred use of clinical data management system. E clinical solution software market on the basis of products is divided into licensed enterprise, web-based and cloud-based E clinical solution software. Web-based E clinical solution software dominated the market in 2014 owing to their easy deliverability and easy upgradation. Cloud-based E clinical solution software are expected to show significant growth over the forecast period due to many benefits associated with them such as more secure data management and easy accessibility of data from any location. On the basis of end-use, the market is divided into clinical research organizations, pharmaceuticals, and health care providers. Pharmaceuticals had the largest share in 2014 owing to huge investments made by pharmaceutical companies in clinical research. Furthermore, many pharmaceutical companies adopted E clinical solution software as a result of increased scrutiny by regulatory bodies for data management. Clinical research organization segment is expected to show significant growth in the coming seven years as a consequence of prevailing trend of outsourcing of clinical operation which helps companies to comply with good clinical practices as well as to save time.
Geographically, the global E clinical solution software market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. North America dominated the market in 2014 as a result of the availability of developed infrastructure like high-speed broadband internet connection and advanced configured computer systems. Moreover, presence of numerous pharmaceutical companies in North America, which are primarily focused on new drug development, fueled the growth of E clinical solution software market. Asia Pacific is expected to show significant growth over the forecast period owing to factors such as improving healthcare infrastructure, and growing demand for sophisticated technologies. In addition, high population base available for clinical trials in Asia Pacific allowed clinical research origination to carry out a study in this region hence leading to extensive usage of such software in this region.
The key players contributing to E clinical solution software includes PAREXEL International Corporation, Oracle Corporation, Medidata Solutions, OmniComm Systems, BioClinica Inc., DATATRAK International, eResearch Technology and PHT Corporation. The key strategies adopted by these companies to gain substantial market share includes outsourcing the clinical operations. In addition, strategic acquisition and collaborative development are also important strategies adopted by these companies. Investing in emerging markets like India and China is prevailing trend observed in this market. Furthermore, need for efficient systems and rising competition amongst new market players are expected to provide growth potential to E clinical solution software market over the forecast period.
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