Global E-Clinical Solution Software Market Report, published by Variant Market Research, forecast that the global market is expected to reach $10.6 Billion by 2024 from $3.9 Billion in 2016, growing at a CAGR of 13.4% from 2016 to 2024. By geography, Asia-Pacific and Europe are expected to grow at a CAGR of 18.3% and 13.8%, respectively, during the forecast period.
"E-Clinical Solution Software Market (Clinical Data Management, Clinical Trial Management System, Electronics Clinical Outcome Assessment Solution, Randomization & Trail Supply Management, Safety Solution;Web Based E-Clinical Solution Software, Enterprise Licensed,Cloud Based E-Clinical Solution Software; Pharmaceuticals, Clinical Research Organization, Healthcare Providers; By Geography: North America, Europe, Asia-Pacific, RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024"
Some of the factors boosting the growth of the e-clinical solution software market include growing necessity for data standardization, increasing R&D investments, and rising number of outsourcing of clinical trials. Additionally, technological advancements and market expansion would provide market opportunities during the forecast period. However, lack of professionals and high cost of execution could restrain the advancements of the market.
Product, mode of delivery, end-user, and geography are the segments considered in the global e-clinical solution software market. Product is categorized into clinical data management, clinical trial management system, electronics clinical outcome assessment solution, randomization and trail supply management, safety solution, and others. Mode of delivery is classified into web based e-clinical solution software, enterprise licensed, and cloud based e-clinical solution software. Furthermore, end-user is bifurcated into pharmaceuticals, clinical research organization, and healthcare providers.
Clinical data management dominated the product type market with largest market share in 2016. In mode of delivery segment, web based e-clinical solution software accounted the maximum share in 2016, followed by cloud based e-clinical solution software. Furthermore, clinical research organization is anticipated to dominate the market with the fastest CAGR during forecast period 2016 – 2024.
Geographically, global e-clinical solution software market is bifurcated into North America, Europe, Asia Pacific, and RoW. Among which, North America and Europe held the largest market share in 2016, with 57.6% and 26.7%, respectively. In terms of growth, Asia-Pacific is anticipated to dominate the market with fastest CAGR during the forecast period 2016 – 2024., driven by, presence of large population base, improving healthcare infrastructure, and adoption of advanced technologies.
Key players operating in the market include Bio-Optronics, Inc., Medidata Solutions, Inc., eClinical Solutions, Inc., Oracle Corporation, PAREXEL International Corporation, DATATRAK International, Inc., BioClinica Inc., OmniComm Systems, ERT, and CRF Health Inc., among others.