E-Clinical trial solution combines the clinical technology proficiency to assist and to accelerate the clinical-development process. It helps to increase the utilization of clinical & operational data. These innovative E-Clinical technologies are necessary to manage the clinical data requirements. They support quicker to keep patient & practice data safe & secure, organized and fully accessible despite of time and also helps in reducing the development costs. Some of the key benefits associated with adoption of E-Clinical solutions are successful trials, superior performance, reliability and short timeframes for execution of the clinical trial, and cost-effectiveness.
Technological advancements like Wi-Fi connectivity and electronic data capture are projected to propel the market throughout the forecast period. As the demand for collecting & storing, and analyzing the clinical data increases, the requirement for clinical solutions enhances. Rising awareness about these clinical solutions and entry of different solutions by major market companies is poised to drive the e-Clinical trial solutions market in the coming years.
Referring to study, “Global e-Clinical Trial Solutions Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” some of the renowned companies operating in the global e-clinical trial solutions market include Perceptive Informatics, BioClinica, EClinical Solutions, PAREXEL, Merge, DATATRAK, Medidata Solutions, Clincase, Oracle, Ecrfplus, Perceptive Informatics, NTT DATA, Clinpal, MedNet Solutions, Omnicomm, Nextrials, EClinForce, DigiGenomics, Almac, Pharma & Healthcare, ArisGlobal, DSG, and among others. Renowned players adopt various strategies for instance product innovations, research & development (R&D) investment for advancement in the E-Clinical solutions, merger & acquisition as their developmental strategies to maintain the viable environment of the market.
By type, e-clinical trial solutions market is bifurcated as Clinical trial management system (CTMS) solutions, Randomization and trial supply management (RTSM) solutions, Clinical data management system (CDMS), Electronic clinical outcomes assessment (eCOA) solutions and others. In addition, by application, market is bifurcated as hospitals, medical laboratory and pharmaceutical companies.
The e-clinical trial solutions market is driven by rise in number of clinical trials, followed by enormous data mounting from the healthcare industry, increase in government emphasis on clinical research, rise in burden of chronic diseases, growth in adoption of software solution in clinical trials, rise in demand for outsourcing clinical trials to CROs and growth in focus on improving & maintaining the quality of clinical trial procedures. Apart from this, lack of awareness and infrastructure in developing countries and shortage of healthcare professionals and patients for clinical trials are major hindering factors for global market. Moreover, increase in research & development for precision medicine is a leading opportunity for market.
By regional analysis, the North-America region holds major share in global e-clinical trial solutions market owing to presence of prominent industry players and rise in adoption of modern techniques in healthcare sector across the region. The Asia-Pacific and Europe regions are anticipated to witness higher growth rate due to increase in occurrence of chronic diseases like cancer and cardiovascular disorders over the forecast period. It is estimated that global e-clinical trial solutions market will be reached at rapid pace because of growth in need for medical infrastructure and growth in geriatric population during the forecast period.
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Global e-Clinical Trial Solutions Market
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