ALBANY, New York, July 30, 2015 - A recently released report from Transparency Market Research (TMR) forecasts that the global e-clinical solution software market will grow at a CAGR of 13.8% between 2014 and 2020. TMR, a market intelligence firm based in the U.S., states in its report that the global e-clinical solution software market will reach a market value of US$6,515.3 million by 2020, up from US$3,005 million in 2014. The report, titled ‘Global Market Study on E-clinical Solution Software: Asia to Witness Highest Growth by 2020’, is available for sale on the company website.

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According to this market research report, the growing popularity of e-clinical solution software can be attributed to its higher effectiveness in the management of clinical trials as against the conventional paper process. The analysis and management of clinical data is made easier by e-clinical solution software, which is supported by a growing base of internet users and greater use of computers all over the world.

Research studies that examine the efficacy and safety of drugs, therapeutic products, and medical devices are known as clinical trials. The growing need for better data standardization, greater number of clinical trials, and increasing expenditure on clinical R&D in the global pharmaceutical industry will stimulate the demand for e-clinical solution software in the years to come.

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Another noteworthy factor that will drive the global e-clinical solution software market in the forthcoming years is the growing trend of outsourcing clinical trials. This trend is anticipated to create several opportunities for new market players to expand and thrive in the global e-clinical solution software market. Furthermore, the emphasis on decreasing the time required for conducting clinical trials will also augment the demand for e-clinical solution software in the years to come. Insufficient supply of skilled personnel and high implementation costs are the glaring challenges to the global e-clinical solution software market.

This PMR research study segments the global e-clinical solution software market on the basis of mode of delivery, product, end user, and geography. On the basis of mode of delivery, this market is categorized into cloud-based, licensed enterprise, and web-based e-clinical solution software. Product-wise, the global e-clinical solution software market is segmented into safety solutions, randomization and trial supply management, electronic clinical outcome assessment solutions, clinical trial management systems, and clinical data management. The key end users of E-clinical solution software are healthcare providers, clinical research organizations, and the pharmaceutical industry.

Geographically, the research report segments the global e-clinical solution software market into Asia, North America, Europe, and Rest of the World. Owing to high incidence of clinical trials, North America holds the highest share in the overall market. With India and China exhibiting rapid expansion in the e-clinical solution software market, the Asia Pacific market will grow substantially over the next couple of years. Rising healthcare awareness, a large and growing pool of patients, and increased outsourcing of clinical trials are the key market drivers of e-clinical solution software in emerging economies.

The prominent companies in the global e-clinical solution software market mentioned in the report are OmniComm Systems, PAREXEL International Corporation, Medidata Solutions, BioClinica, and Oracle Corporation. The global e-clinical solution software market at present is characterized by frequent mergers and acquisitions and an increasing number of partnerships and collaborations.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.


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