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eClinical Trials Solutions Market will grow $5 Billion by 2018

The global eClinical solutions market is broadly categorized into two segments, namely, products and professional services. The products segment is further classified into clinical data management system/electronic data capture (CDMS/EDC), clinical trial management systems (CTMS), electronic clinical outcome assessment (eCOA), randomization and trial supply management (RTSM), safety solutions, and others. The professional services segment is classified into implementation services, training, support services, and consulting.

Moreover, the global market has also been classified on the basis of type of buyer and delivery mode. On the basis of type of buyer, the market is classified into pharmaceutical/biopharmaceutical/medical device companies, clinical research organizations (CROs), and healthcare providers. Based on the type of delivery mode, the global market has been categorized into web-hosted, licensed enterprise, and cloud-based eClinical solutions. Based on geography, the market is divided into North America, Europe, Asia-Pacific, and Rest of the world (RoW).

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 A number of factors such as the increasing pressure for reducing the cost and time consumed in the clinical trial process, growing need for improved data standardization in order to meet regulatory requirements, government funding for conducting clinical researches, and high expenditure on clinical R&D by pharmaceutical and biopharmaceutical companies are driving the growth of the global eClinical solutions market. However, factors such as, scarcity of a skilled labor force and high cost of eClinical systems are restraining the growth of the global market..

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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 major 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).

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