E Clinical Trial Solutions Market Incredible Potential, Stagnant Progress According to New Research Report
The demand within the global e-clinical trial solutions market is rising at a sturdy pace in recent times. Improvements in biomedical research have necessitated the use of electronic services for studying and analysing research samples. Furthermore, medical researchers and scientists have turned the tables for vendors operating in the global e-clinical trial solutions market. The former has emphasized on the use of e-services and solutions within medical research and development. Furthermore, advancements in microbiology have underpinned the growth of the global e-clinical trial solutions market. It is safe to expect that the total volume of revenues within the e-clinical trial solutions market would increase in the coming times.
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- Biopharmaceutical research holds immense value for the medical fraternity. The development of effective drugs has helped in resolving the problems of multiple domains within medicine and healthcare. The use of e-clinical trial solutions in biopharmaceutical research has, therefore, been a prominent driver of market demand. Clinical trials are a necessary feat for medical researchers who intend to publish their research work in journals and other booklets.
- Availability of several premium technologies within healthcare complements the use of e-clinical trial solutions. Furthermore, these solutions help in reducing human error and optimizing the results of a test.
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E-clinical trial solutions are a combination of technology, products and services that work together to automate and manage clinical trials. This term is used to refer to electronic systems that are used for conducting or automating the management of clinical trials and minimizing human errors.Conducting clinical trials for a novel drug requires efficient management of large amount of essential data with real-time analysis.Such management solutions improve efficiency, enhance the speed of clinical trials process, reduce clinical trial costs, and enable better data management and integration of different trial data for efficient observation.
E-clinical trial solutions market is segmented on the basis of technologies employed such as clinical trials management systemsCTMS, electronic data capture (EDC) solutions, randomization and trial supply management system,electronic patient reported outcome (ePRO),interactive voice response systems (IVRS)and interactive response technology (IRT).These technologies are widely used in e-clinical trials solution systems. Similarly, geographically this market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW).
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This market can be further segmented on basis of the end-users, namely, healthcare providers, clinical research organizations (CROs) and pharmaceutical companies. Increasing trend in outsourcing of clinical trial processes to CROs by pharmaceutical companieshas led to an increase in the number of CROs globally. China and India are the major destinations for clinical trial outsourcing due to availability of highly skilled labor force at lower cost and overall low cost of operations. Also, on the basis of the delivery mode the global e-clinical trial solutions market can be categorized into web hosted (on-demand), licensed enterprise (on premise) and cloud-based markets.
The major factors responsible for driving the growth of this market include technological advances in the field of e-clinical solutions, globalization of clinical trials and various benefits such as reduced cost of trials and increased efficiency and accuracy offered by e-clinical solutions. In the future, better, user-friendly access of software and awareness of compliance benefits will aid in increasing the acceptance and penetration of e-clinical solutions in the global market.
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Some of the key players operating in this market include Oracle Health Sciences, BioClinica, eResearch Technology, Inc., Clinipace Worldwide,SAS Institute, Inc., MedidataSolutions, Datatrak International, Inc.and ParexelInternational Corporation.
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