E-clinical software solutions help clinical research organizations, and medical device, pharmaceutical, and biotechnology organizations in managing and analyzing clinical data with the use of innovative technologies.
According to a report by Transparency Market Research, the worldwide market for e-clinical solution software is anticipated to rise from a value of just over US$3 bn in 2014 to US$6.5 bn by 2020. If these values hold true, analysts predict that this market will exhibit an impressive CAGR of 13.80% from 2014 to 2020.
Creation of e-Clinical Technologies Fueled by Increasing Internet Penetration
The rising availability of computers and surging internet penetration has aided the rapid development of e-clinical software solutions. The global market for e-clinical software solutions is also driven by many other factors:
· Growing need for enhanced data standardization
· Rise in spending on clinical research and development, especially in the pharmaceutical industry
· Surge in the number of clinical trials
· Growing incidence of lifestyle diseases and genetic disorders spurring demand for innovative and more effective diagnostic and treatment solutions
· Increasing need to reduce the time spent during clinical trial processes
· Rising number of collaborations, alliances, acquisitions, and other business activities in the e-clinical solutions market
· Higher acceptance rate of e-clinical solutions from end users such as healthcare providers, clinical research organizations, and the overall pharmaceutical sector
Expansions, Acquisitions, and Promotions Driving e-Clinical Solutions Market
Browse Research Report: http://www.transparencymarketresearch.com/e-clinical-solution-software-market.html
Given the growing importance of e-clinical software solutions in an evolving healthcare industry, many small and large companies have been investing in mergers, acquisitions, expansions, and promotional activities to strengthen their market position.
In June this year, BioClinica Inc., a specialty clinical trials technology and services provider, opened up two new offices in Europe, one in Munich and the other in London. By expanding its clinical trial services such as site training and support, medical imaging, and e-clinical product lines, BioClinica aims to further its e-clinical solutions business across Europe. Last month, the company acquired Miami-based Synowledge, which serves several leading biotechnology and pharmaceutical organizations around the world. BioClinica said that the acquisition of Synowledge will help extend the company’s e-clinical product and services portfolio across the life sciences landscape.
In October 2015, major cloud-based e-clinical software provider Clinovo organized and sponsored the 11th Silicon Valley BioTalks, a premier panel discussion that addresses the benefits and challenges of e-clinical systems. Featuring clinical trials industry experts from prime life science companies including Abbott, Roche, Johnson & Johnson, and Onyx Pharmaceuticals, Clinovo has managed to put itself on the map of the e-clinical software solutions market.
Browse Press Release: http://www.transparencymarketresearch.com/pressrelease/e-clinical-solution-software-market.htm
Some of the topmost companies competing in the global e-clinical solutions market are BioClinica, Medidata Solutions Inc., DATATRAK International Inc., CRF Health Inc., PHT Corporation, Oracle Corporation, OmniComm Systems Inc., PAREXEL International Corporation, ERT, and Merge Healthcare Incorporated.