E-clinical Solution Software Market

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.
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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