E-Clinical Solution Software Market is expected to reach USD 6,515.3 million in 2020

E-Clinical Solution Software Market is expected to reach USD 6,515.3 million in 2020

Globally, the e-clinical solution software market is witnessing significant growth due to increasing clinical trials and R&D investments in pharmaceuticals and life science. Increasing prevalence of diseases supports clinical trials in different regions. Various lifestyle associated diseases and genetic disorders in the Middle East and North African countries have also enhanced clinical trials in the respective regions. In addition, the pharmaceutical industry is facing immense pressure to reduce the time consumed during clinical trials and to raise the productivity of drugs. Presence of various end users such as pharmaceuticals, clinical research organizations (CRO) and healthcare providers has increased the acceptance of e-clinical solution software. The global e-clinical solution software market is estimated at USD 3,005 million in 2014. It is likely to grow at a CAGR of 13.8% from 2014 to 2020 to reach USD 6,515.3 million in 2020.

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North America is a traditional clinical trial region. The average cost of pharmaceutical research and development for a successful drug continues to increase from pre-clinical stage i.e. initial development stage of drug till FDA approval i.e. drug is launched in market. According to Oracle Corporation, an e-clinical software company, the percentage share of global clinical trials conducted in North America has reduced from 30% in 2006 to 19% in 2010. This was due to regulatory and legal considerations, which shifted the clinical trial market from North America to developing countries such as India and China. This may lead to sluggish growth of clinical trials in the region.

In Europe, Countries in Central and Eastern Europe provide abundant opportunities to life science companies for clinical development. According to Oracle Corporation, the percentage of...

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