Monday, October 15, 2012

eClinical Solutions Market worth $4.8 Billion by 2017


The eClinical Solutions Market - [CTMS, CDMS, EDC, IVRS, ePRO & IRB Systems] Global Trends, Opportunities & Forecasts (2012 - 2017)”, published by MarketsandMarkets (www.marketsandmarkets.com), analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and Rest of the World.

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This report studies the global eClinical Solutions Market over the forecast period 2012-2017.
eClinical solutions can be defined as a combination of technology, products, and services that work together as solutions to automate the management or conduct of clinical trials with the aim of replacing manual, ad hoc or paper-driven methods. eClinical solutions refer to a number of different technologies, such as EDC solutions (Electronic Data Capture), CTMS (Clinical Trials Management System), Randomization and Trial Supply Management systems, IVRS (Interactive Voice Response Systems), electronic patient diaries and other common types of electronic solutions widely used in clinical trials.

The eClinical solutions market can be analyzed with respect to the three main end-users, namely healthcare providers, clinical research organizations (CROs), and pharmaceutical companies. The outsourcing of clinical trials by drug companies to CROs has given a boost to the global CRO market. Hence, the market has witnessed a rise in the number of clinical research organizations in the past decade. Software, hardware, and services are the three main components of the eClinical solutions market. The market for eClinical solutions can be analyzed with respect to three delivery modes, i.e. licensed enterprise (on-premise), web hosted (on-demand), and cloud-based. 

Pharmaceutical/biopharmaceutical companies, CROs, and healthcare providers are seeking opportunities to reduce costs associated with drug development, by decreasing high costs related to increasingly complex clinical trials. This is driving the market demand for technology/solutions that can cope with the demands of present and future clinical trials.

A large number of investigator groups are still ignorant of the benefits offered by eClinical solutions and continue to depend on paper-based work or spreadsheets. Compliance benefits and user-friendly access of software are yet to penetrate the clinical trial community well. Clinicians and investigators need to realize the efficiency and prospect of these tools, which enhance the speed of clinical trials process and manage it efficiently.

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