eClinical Solutions Market by Product (CDMS, EDC, CTMS, eCOA, Analytics, RTMS, eTMF, Safety), Delivery Mode (Web Hosted, On-premise, Cloud-based), Clinical Trial Phases, End User (Pharma/Biopharma Companies, CROs, Hospitals) - Global Forecast to 2020
The global eClinical solutions market is estimated to grow at a high CAGR of 12.1% from 2015 to 2020. Although developed regions (such as North America and Europe) held large shares in the eClinical solutions market in 2015, the Asia-Pacific region is poised to grow at the highest CAGR of 16.1% in the next five years. Factors such as the increasing outsourcing of clinical trial studies by the large pharma and biopharma companies in Asia-Pacific countries, presence of large patient population, and low operating cost in conducting clinical trials are propelling the growth of the eClinical solutions market in this region.
The growth of the global eClinical solutions market is driven by factors such as rising adoption of software solutions during clinical trials, increasing R&D expenditure by pharmaceutical companies, growing government grants to support clinical research, and rising customer base. In addition, increasing clinical research in emerging Asian countries, shift of clinical trials and resources from AMCs to CROs, and developments of cost effective modules are offering new growth opportunities for the eClinical solutions vendors. Nonetheless, the high implementation cost, dearth of skilled research professionals, and lack of awareness of clinical data sciences software in research community are the key reasons hampering the growth of the eClinical solutions market. Besides, low software adoption rate in several geographic such as Middle East and Africa, and software reliability and patient privacy issues are also restricting the growth of the eClinical solutions market.
In this report, the eClinical solutions market has been segmented on the basis of product (covering electronic data capture (EDC) and clinical data management systems (CDMS), clinical trial management systems (CTMS), clinical analytics platform, randomization & trial supply management systems (RTMS), clinical data integration platforms, electronic clinical outcome assessment (eCOA), safety solutions, electronic trail master files (eTMF), and others (regulatory information management solutions, coding systems, and core laboratory integration solutions); delivery mode (including web-hosted (On-demand), licensed enterprise (On-premise), cloud-based (SaaS); clinical trial phase (phase I, phase II, phase III, and phase IV); end user (pharmaceutical and biopharmaceutical companies, contract research organizations, consulting service companies, medical device manufacturers, hospitals, and academic research institutions); and region (North America, Europe, Asia-Pacific, and the Rest of the World). The EDC and CDMS segment is estimated to account for the largest share of the global eClinical solutions market in 2015. However, the eCOA segment is expected to grow at the highest CAGR during the forecast period. Increasing demand for eDiaries in clinical studies to collect patient self-reports by major pharmaceutical companies and rising adoption of mobile and digital technologies are driving the growth of this market segment.
Geographically, North America is estimated to command the largest share of 59.6% of the global eClinical solutions market in 2015, followed by Europe. The large market share of the North American region is attributed to the significantly large number of ongoing clinical trials in this region. A number of factors such as the 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 further stimulating the demand for eClinical solutions in North America. However, strict and lengthy government requirements and high cost of conducting clinical trials in the North American region are negatively affecting the growth of the eClinical solutions market in this region.
The eClinical solutions market is highly competitive, with a large number of global and local providers of eClinical solutions. Oracle Corporation (U.S.) Medidata Solutions, Inc. (U.S.), and PAREXEL International Corporation (U.S.) were the top three players in the eClinical solutions market in 2014. These companies together accounted for 44.9% of the global market. Partnerships, agreements, and collaborations; product launches and product enhancements; product deployments; mergers and acquisitions; and geographic expansions are the major strategies adopted by most of the market players to achieve growth in the eClinical solutions market.
Reasons to Buy the Report:
From an insight perspective, this research report focuses on various levels of analysis —market share analysis of the top players and company profiles, which together comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the eClinical solutions market; and high-growth regions and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on eClinical solutions offered by the top 10 players in the eClinical solutions market. The report analyzes the eClinical solutions market by product, delivery mode, clinical trial phase, and end users across four geographies
Product Development/Innovation: Detailed insights on current technologies, research and development activities, and new product launches in the eClinical solutions market
Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various eClinical solutions across four geographies (North America, Europe, Asia-Pacific, and Rest of the World)
Competitive Assessment: Assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the eClinical solutions market
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