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Global E-Clinical Solution Software Market: Industry Players Shifting Focus towards Developing Econo Health Articles | February 7 New York Mets Hats , 2016
Global E-Clinical Solution Software Market is expected to grow at a CAGR of 13.8% from 2014 to 2020, to reach an estimated value of USD 6,515.3 million in 2020
According to a recent market study published by Transparency Market Research (TMR), the surge in clinical research activities in recent years and the subsequent need for standardization of data and sophisticated data management have greatly fueled the聽global e-clinical solution software market聽in recent times. With the use of innovative technologies, e-clinical software solutions aid medical device companies New York Mets T-Shirts , biotechnology firms, clinical research organizations, and pharmaceutical companies in effectively managing and analyzing large amounts of clinical data.聽
There are three major kinds of e-clinical solution software based on the mode of delivery: licensed enterprise, cloud-based, and web-based. Owing to its easy upgradation and deliverability New York Mets Hoodie , web-based software is the most widely used e-clinical solution software and also generates the most revenue. In 2014, the value of the web-based e-clinical solution software segment was pegged at US$2.1 bn and this will grow to US$4.8 bn by 2020 at a 14.20% CAGR therein. Cloud-based software, however, is projected to witness remarkable growth over the next few years owing to the benefits associated with it such as secure data management and remote access to data.聽
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E-clinical solution software is used by pharmaceuticals, healthcare providers Customized New York Mets Jersey , and clinical research organizations (CROs). Owing to massive investments made by prominent pharmaceutical companies in clinical research and development, the segment of pharmaceuticals holds the largest share in the e-clinical solution software market. However, healthcare entities across the globe are realizing the importance of clinical research organizations and outsourcing clinical research operations and as a result, the segment of CROs is anticipated to witness the highest growth by 2020.
Asia Makes the Most of North America’s Shortcomings聽
The global e-clinical solution software market comprises four key segments: Europe, North America Cheap New York Mets Jerseys , Asia, and Rest of the World. North America dominates the overall market owing to a number of factors such as the high number of large enterprises focused on the development of new drugs, availability of developed infrastructure, growing demand for computer applications for drug development, and availability of highly configured computer systems and high-speed internet. The value of the North America e-clinical solution software market was pegged at US$1.7 bn in 2014. Expanding at a strong CAGR of 12.60% Yoenis Cespedes Mets Jersey , this value is anticipated to rise to US$3.6 bn by 2020. However, the presence of strict regulatory norms in the region is projected to greatly reduce its share in the clinical trials market, thereby impacting the e-clinical solution software market as well.聽
This will result in a growing focus of market players on major developing economies in Asia. Support from government initiatives, the improvisation and modernization of healthcare policies and systems in the region, the rising demand for sophisticated technologies Jacob deGrom Mets Jersey , and surge in healthcare spending and developed infrastructure are anticipated to greatly boost the e-clinical solution software market in Asia. The growing investments by prominent players in countries such as China and India and the increasing number of mergers and acquisitions in the region are also projected to fuel the Asia e-clinical solution software market. This region is forecast to expand at the fastest pace from 2014 to 2020.聽
The most significant players operating in the e-clinical solution software market include DATATRAK International Inc., ERT, OmniComm Systems Inc., Merge Healthcare Incorporated, Medidata Solutions Inc. Wilson Ramos Mets Jersey , PAREXEL International Corporation, Oracle Corporation, PHT Corporation, CRF Health Inc., and BioClinica.
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