eClinical Solutions Market worth $5 billion by 2018: MarketsandMarkets
India, Feb 15, 2014: MarketsandMarkets has rolled out its report “eClinical Solutions Market (CDMS/EDC, CTMS, Ecoa , Randomization & Trial Supply Management, Safety), Services, Buyers (Pharma/Biopharma, CROS, Healthcare Providers), Delivery Modes (Web Hosted, On-Premise, Cloud-Based) – Global Forecast to 2018” analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and Rest of the world (RoW).
MarketsandMarkets report studies the global eClinical solutions market over the forecast period of 2013 to 2018. The market is expected to reach ~$5 billion by 2018, at a CAGR of 13.5% from 2013 to 2018.
The global eClinical solutions market is divided into two segments, namely, products market and professional services market. The products market has been further classified into clinical data management systems (CDMS)/electronic data capture (EDC), clinical trial management systems (CTMS), electronic clinical outcome assessment (eCOA), randomization and trial supply management (RTSM), safety solutions, and others. The others segment consists of core lab integration systems, regulatory information management services, and coding systems. The professional services segment includes implementation services, training, support services, and consulting.
Based on the type of buyer, the global eClinical solutions market is segmented into pharmaceutical/biopharmaceutical/medical device companies, clinical research organizations (CROs), and healthcare providers. Based on the type of delivery mode, the global eClinical solutions market is classified as web-based, on-premise, and cloud-based eClinical solutions.
As of 2013, North America held the largest share of ~60.1% in the global eClinical solutions market, followed by Europe (26.4%). However, the Asia-Pacific market is expected to grow at the highest CAGR of ~19.5% from 2013 to 2018. A number of factors such as, presence of a large patient population, faster recruitment of patients in developing countries, availability of low cost CROs, increasing government support, shortage of trial volunteers in European and North American countries, and growth in the number of pharmaceutical companies are driving the growth of the eClinical solutions market in the Asia-Pacific region.
The top most players in the global eClinical solutions market are PAREXEL International Corporation (U.S), BioClinica, Inc. (U.S), Oracle Corporation (U.S), CRF Health (U.S), DATATRAK International, Inc. (U.S), Medidata Solutions, Inc. (U.S), PHT Corporation (U.S), eResearch Technology (U.S), Merge Healthcare Incorporated (U.S), and OmniComm Systems, Inc. (U.S).
