E-clinical Solution Software Market

Global E-clinical Solution Software Market to Experience High Demand with
Increasing Adoption of Cloud-based Solutions
The global e-clinical solution software market is witnessing a high degree of
competition as the companies are making constant efforts in research and
development activities, as analyzed by Transparency Market Research (TMR). The
companies are making high investments in clinical research made in pharmaceuticals
and life sciences industries. Furthermore, strategic acquisitions and collaborative
developments are largely adopted by the leading companies. Some of the key players
in the market are PHT Corp., OmniComm Systems Inc., Merge Healthcare Inc., ERT,
PAREXEL International Corp., CRF Health Inc., BioClinica, Medidata Solutions Inc.,
Oracle Corporation and DATATRAK International Inc. Companies are focusing in
investing in emerging economies especially in India and China to gain a substantial
share by outsourcing the clinical operations.
According to TMR, the global e-clinical solution software market is expected to reach
US$ 6.51 bn by the end of the forecast period in 2020. The market is estimated to
expand at a CAGR of 13.8% during the forecast period from 2014 to 2020. On the
basis of end user, the pharmaceuticals industry is expected to emerge as the leading
segment due to the rising adoption for e-clinical solutions software. In addition,
chemical research organizations (CROs) are also expected to rise at a dominating pace
during the same course of period. As per the regional study, North America is
leading the market and is expected to reach US$ 3.62 bn by the end of 2020.
Meanwhile, Asia Pacific is also considered as lucrative option because companies are
expanding their business for e-clinical solution software in that region.
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Centralization of Healthcare Data to increase the Demand for E-Clinical Solution
Software Market
The global market for e-clinical solution software is expected to witness high growth
due to high demand for e-clinical solution software on web-based model as a reason
for increasing popularity for cloud based solution. Increasing demand for data
standardization and reduced time taken in clinical trial process have also boosted the
market for e-clinical solution software. Moreover, the medical data and results can be
shared across the globe through a centralized healthcare platform, which is
considered as a major factor propelling the demand for e-clinical solution software
market. Rising expenditure on clinical research and development in pharmaceutical
industry and growing clinical trial outsourcing will also boost the market.
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Insufficiency of Appropriate Surrounding To Act as a Hindrance
The fierce competition among the players in e-clinical solution software market have
led in reduction of prices of several e-clinical solutions. The price reduction is
beneficial for the several players, as it will help them in tapping the growing
opportunity in the emerging nations. Moreover, high cost of implementation and less
availability of skilled manpower is projected to restrict the market from growing at
its full potential. Insufficiency of high-speed broadband and limited presence of IT
professional in remote areas is also predicted to restrict the growth of e-clinical
solution software market.
However, increasing efforts for clinical research
organizations and raising pressure on pharmaceutical companies to reduce operational
cost will boost the market.

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