Published: January 2016
Report Code: LS10055
Category : Healthcare IT
The global e-clinical solution market accounted for $2,997.0 million value in 2014, and it is expected to grow with a CAGR of 13.7% during 2015-2020. Among the various delivery modes, the web based e-clinical solution segment dominated the global e-clinical solution market, with 72.7% share in 2014. Moreover, among the various end users, the pharmaceutical and biotechnology companies segment dominated the global e-clinical solution market, with 46.2% share in 2014.
The global market of e-clinical solution is up surging with a significant rate, due to increasing number of clinical trials and increasing spends on clinical research and development in the pharmaceutical and biotechnology industry. In addition, the growing clinical trial outsourcing and increasing need for improved data standardization are also driving the growth of the global e-clinical solution market. The increasing clinical research in the emerging market and increasing adoption of cloud technology for the development of e-clinical suits pose opportunities for the market.
Clinical trials are clinical research studies conducted to collect information related to safety and effectiveness of innovative medical devices and drugs development. Clinical trials are conducted for various diseases and conditions, such as infectious disease, cancer, Alzheimer’s disease, allergy and neurological disorders. All new drugs and medical devices have to go through four phases of clinical trials before they are prescribed to patients. It begins with extensive laboratory testing followed by human testing of experimental drugs in animals and human cells, typically conducted in four phases. Each phase is considered as a separate trial and after completion of a phase; the investigators are required to submit data for approval from the regulatory body, before continuing to the next phase. E-clinical solution refers to software that is used to accelerate the clinical development process. It comprises of various professional services and products, such as clinical data management system (CDMS), clinical trial management system (CTMS), safety solution, electronic clinical outcome assessment (eCOA) solution, and randomization and trial supply management (RTSM) solutions.
The restraints impacting the growth of the global market include high cost of implementation and less skilled manpower, long approval time for clinical trials, and lack of high speed broadband facilities and IT professionals in remote areas. The increasing number of partnerships and collaborations, increasing number of product launches and increasing number of mergers and acquisitions are the latest trends observed in the global market.
Geographically, the growth of the North American market is getting driven due to the increasing need for standardization of data and increase in spends on research and development by pharmaceutical and biotechnology companies. The U.S. accounted for the largest share in the North American e-clinical solution market. According to the U.S. National Institutes of Health (Clinical Trial government registry), about 89,528 clinical trials were conducted in the U.S., as of October 2015.
In Europe, according to eClinical Visions, a publication from Oracle Health Sciences, the percentage of clinical trials in Western Europe decreased from 25% in 2006 to 19% in 2010. Germany accounted for the largest share in the European market. However, the Asia-Pacific market is expected to witness the highest growth during the forecast period. This is mainly due to growing clinical trial outsourcing, easy patient recruitment, large pool of patient, and increasing prevalence of chronic and lifestyle associated diseases in the region.
The key companies operating in the global e-clinical solution market include Oracle Corporation, PAREXEL International Corporation, OmniComm Systems Inc., ERT, BioClinica, CRF Health Inc., Medidata Solutions, and DATATRAK International Inc.