Based on the Global Industry Analysts Inc., as they announced that the global market for E-Clinical Trial Technologies might reach over US$1.37 billion in 2018. The reasons of these development involves the expanding pressure on pharmaceutical firms to lower down the costs and enhance productivity, emerging the adoption of technological solutions in clinical challenges, maintaining of technological advancements in the field of clinical trial management solutions, comprehensive benefits of e-clinical technologies and growing globalization of clinical trials.
The pharmaceutical industry is seriously searching tools that can intensify the drug discovery process and improve productivity, because of the tightening drug pipeline, scarcity of anticipated drug launches and diminished patents of popular drugs. The progress in clinical resources could not be enough to fight the increasing amount of candidates that is anticipated to gain from the pre-clinical to the clinical trial stage, even though the current research is anticipated to help discover further drug candidates. E-clinical techniques can be used to make Go-No Go decisions much faster and it allows real-time data analysis that enhances the drug development process and lower down cost, this is trusted to nurture the employment of electronic clinical trial technologies.
Most of the company in the market is maintaining technology solutions to enable them to lessen projected times, improve capacities, distribute characterized services to clients and restrain in-house R&D expenses. The top markets for regulating clinical trials are Europe and the U.S.. But with comprehensive clinical research abilities deriving from low-cost countries like India, China, Latin America and Eastern Europe, conveying contract research organizations or CROs are increasing their geographical reach with plans that includes outsourcing, developing captive market and obtaining markets. The factors that drives the CRos and U.S. Pharma companies to search for better opportunities is the lifting costs of trials like clinical investigators and compensation to volunteers.
Utilizing of EDC or Electronic Data Capture has been increasing all over the world in the past. But user satisfaction is still a concern, as many users are of the opinion that EDC fostering improves workload. The usage level and satisfaction are assumed to enhance given the larger advantages of using EDC like in different data entry resources, cross-system standardization, availability of support and system response speed. Some benefits of using EDC are still rising and observing the development and enhancement of certain concerns such as higher duplication of data entry and expanding simultaneous paper case report usage. Vendors of CTMS or Clinical Trial Management Systems have been rewarding in enhancing comprehensive solutions that let management of various trials together.
Interactive Voice Response Systems or IVRS and Clinical Data Management Systems or CDMS is part of some top vendors that offer integrated solutions that consider potential in focusing information on different other solutions. Based on the latest market research report on E-Clinical Trial Technologies, the U.S. serves as the top regional market all over the world. The rest of the world market that involves Africa, Middle East, Eastern Europe and Asia-Pacific symbolizes the fastest developing regional market for e-clinical trial technologies across the globe with an annual rate of 16.6 percent.
REFERENCES:
http://www.prweb.com/releases/e_clinical_trial/technologies_CRO_EDC_CTMS/prweb9724322.htm
http://www.pharmatimes.com/article/12-07-24/eClinical_technologies_market_could_reach_US_1_37_billion_by_2018.aspx
http://www.scoop.it/t/clinical-communications/p/2230987525/global-e-clinical-trial-technologies-market-to-reach-us-1-37-billion-by-2018-according-to-new-report-by-global-industry-analysts-inc
