SAN JOSE, CA (PRWEB) – February 4, 2015 – Demand for e-Clinical trial technologies is on the rise, spurred by the mounting pressure on biotech and pharmaceutical companies, medical device manufacturers, and contract research organizations (CROs) to accelerate the processes for clinical studies, regulatory approval, and commercialization of drugs. Stringent regulations mandating standardization of clinical study data and the acceptance of electronic submissions of clinical data by regulatory authorities are driving the need for advanced, user-friendly on-site data collection tools and eClinical systems. The growing trend towards globalization and outsourcing of the drug development process, coupled with the increasing complexity of Phase IV or post-marketing studies, are providing opportunities for clinical trial management solutions. Cloud computing is rapidly growing in popularity as a preferred model for delivery of e-clinical trial solutions. Cost advantages, flexibility, and functionality are key benefits driving customer acceptance of cloud solutions. Open source technologies are emerging into a preferred platform, given their cost advantages and interoperability benefits over proprietary platforms.
As stated by the new market research report on E-Clinical Trial Technologies, North America remains the most prominent market worldwide, supported by the strict legislative and regulatory atmosphere, and escalating clinical trial expenditure. Asia-Pacific ranks as the fastest growing market with a CAGR of 13.6% over the analysis period. Developing economies with large heterogeneous patient pools and high diseases prevalence are attractive locations for conducting clinical trials. Electronic Data Capture represents the largest technology sector, supported by the rapid replacement of the traditional paper based systems. Despite numerous time-saving and cost advantages, EDC adoption remains relatively low in Phase I clinical trials due to high purchase and implementation costs. Phase III clinical trials provide the bulk of sales revenue of EDC solutions. Tablet-based EDCs are gaining in popularity due to the portability benefits offered.
The research report titled “E-Clinical Trial Technologies: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, growth drivers, recent mergers and acquisitions, strategic industry activities, and profiles of major and niche companies worldwide. The research report provides market estimates and projections in US$ Million for major geographic markets including the United States, Canada, Europe, Asia-Pacific (including Japan), and Rest of World. The global market is analyzed by major E-Clinical Trial Technologies, namely Electronic Data Capture (EDC), Clinical Trial Management System (CTMS), Electronic Patient Reported Outcome (ePRO), and Randomization and Trial Supply Management (RTSM) Systems. The EDC segment is further analyzed by Clinical Trial Phase (Phase I to Phase IV), and CTMS segment by Delivery Mode (Web-based CTMS, Cloud-based CTMS, and On-Premise CTMS).