Why will Popularity of E-Clinical Solutions Surge Rapidly in Asia-Pacific in Future?

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E-Clinical Solution Market

E-Clinical Solution Market

E-Clinical Solution Market :-There has been a rapid rise in the popularity of e-clinical solutions over the last few years. This is attributed to the huge investments made by several clinical research, life sciences, biopharmaceutical, and pharmaceutical companies in research and development (R&D) activities over the last few years primarily for developing treatment programs for various diseases such as AIDS, cancer, and diabetes. For instance, the Australian medicine industry invests over $1.0 billion in pharmaceutical R&D activities every year. Besides this, the ballooning requirement of improved data standardization is also fueling the demand for e-clinical solutions across the world.

The other major factor contributing toward the surging popularity of e-clinical solutions is the increasing number of clinical trials being conducted all over the world, mainly because of the rising incidence of lifestyle-related disorders and chronic diseases and the surging geriatric population in several countries. Furthermore, many organizations and medical research firms are increasingly outsourcing clinical trials to other countries such as India, Poland, and China to curb the costs and increase the patient pool, which is, in turn, causing a sharp spike in the global demand for e-clinical solutions across the world.

In the future years

the adoption of the cloud-based delivery method will increase at a faster rate as compared to the other e-clinical solutions delivery modes, mainly on account of the rising popularity of cloud solutions across the world. Pharmaceutical and biotechnology firms, contract research organizations (CROs), and healthcare providers are the main end users of e-clinical solutions. Amongst these, the adoption of these solutions was observed to be the highest in the pharmaceutical and biotechnology firms in the past few years. However, in the coming years, the CROs will register the fastest growth in the adoption of these solutions.

Across the globe, the North American e-clinical solutions market exhibited the highest growth in the past and this trend will also continue in the upcoming years. This is credited to the increasing investments being made by the biotechnology and pharmaceutical companies in various research and development activities in the region. However, despite this factor, the usage of e-clinical solutions will grow at the fastest rate in the Asia-Pacific (APAC) region over the next few years, on account of the increasing outsourcing of clinical trials in various APAC countries such as India and China.

E-clinical solutions are used by healthcare providers

contract research organizations (CROs), and pharmaceutical and biotechnology companies, to acquire, manage, convert, and standardize data. Owing to such features, e-clinical solutions are widely used for clinical trials conducted by pharmaceutical and biotechnology companies. Furthermore, the CROs are using such solutions for supporting the pharmaceutical and medical device sectors, by offering research services, such as biopharmaceutical development, clinical trials management, preclinical research, clinical research, and biological assay management, on a contractual basis.

Adoption of e-clinical solutions has accelerated

due to rising attempts to invent treatments for diseases like cancer, acquired immunodeficiency syndrome (AIDS), and diabetes. These attempts have encouraged pharmaceutical, biopharmaceutical, clinical research, and life sciences firms to invest hefty amounts in the development of e-clinical solutions market. Furthermore, surging incidence of cancer and diabetes will increase the application of e-clinical solutions. For example, the World Health Organization (WHO) states that cancer accounts for nearly 9.6 million deaths, annually. Whereas, the International Diabetes Federation (IDF) estimates that around 629 million people will suffer with diabetes, globally, by 2045.

Additionally, booming ageing population will accelerate the requirement of e-clinical solutions, as the elderly are highly susceptible to chronic diseases like cancer, diabetes, and cardiovascular diseases (CVDs). According to the United Nations Department of Economic and Social Affairs (UNDSEA), the population size of individuals aged 65 years or above will reach 225.4 million in India, 356.6 million in China, 84.8 million in the U.S., and 52.0 million in Brazil, by 2050. They require better drugs due to the rising complexities in life-threatening diseases, on account of climatic abnormalities and changing lifestyle pattern.

Another factor driving the demand for such solutions

is the government efforts to digitally transform their medical infrastructure.

For instance, as part of its Health Information Technology for Economic and Clinical Health (HITECH) Act,

the U.S. government incentivizes healthcare professionals who use digital technologies.

Similarly, in 2015,

the European Union (EU) announced plans to invest $18.1 million for developing the digital health infrastructure in the region,

so that as many medical services as possible can be dispensed virtually,

thereby resulting in time and cost savings for patients as well as caregivers.

In recent years, key market players, such as:-

DATATRAK International Inc.,

OmniComm Systems Inc.,

PAREXEL International Corporation,

CRF Health Inc.,

Medidata Solutions,

BioClinica, and Oracle Corporation,

have been pursuing several development strategies,

like product launches,

mergers and acquisitions,

and partnerships and collaborations,

to expand their presence and stay ahead in the market.

For example

Boehringer Ingelheim selected Medidata Clinical Cloud to bring innovations in its drug development programs.

Medidata Clinical Cloud was also selected by Infinity Pharmaceuticals Inc. to aid its oncology research.

According to P&S Intelligence

North America dominates the e-clinical solutions market, due to the surging expenditure on research and development (R&D) by pharmaceutical and biotechnology companies. Whereas, the Asia-Pacific (APAC) market will exhibit the fastest growth in coming years, on account of growth in clinical trial outsourcing in emerging economies like India and China. Clinical trials in these countries are escalating, owing to cost-efficiency and availability of a large number of patients in these nations. Pharmaceutical companies in APAC are constantly focusing on clinical trials, thereby, amplifying the application of e-clinical solutions.

With the high penetration of chronic diseases and the vast population size of the elderly, coupled with rising number of R&D activities by pharmaceutical and biotechnology companies, the adoption of e-clinical solutions will escalate, globally.

The growing requirement for medical treatments for several diseases

such as cancer, AIDS, and diabetes is causing a sharp surge in investments made by clinical research,

biopharmaceutical, and life sciences companies,

which is, in turn, fueling the expansion of the e-clinical solutions market.

For example

the Australian medicine industry invests over $1.0 billion in pharmaceutical research and development every year.

The other major factors propelling the market expansion are the growing incidence of lifestyle-related

and chronic diseases and the surging geriatric population across the world.

The aforementioned factors have augmented the number of drugs in the pipeline,

thereby causing a massive rise in the demand for clinical trials. The burgeoning requirement for data standardization is also fueling the progress of the market. Clinical trials are the most time-consuming parts of the drug development process.

As e-clinical solutions reduce the time taken for analyzing and collecting the data produced during trails,

they are increasingly being adopted by drug developers around the world.

Additionally

the presence of a large patient pool in regional countries

such as India and China is driving the demand for drugs,

which is, in turn, augmenting the need for clinical trials in the region.

Major e-clinical solutions market players such as:-

Oracle Corporation,

CRF Health Inc.,

PAREXEL International Corporation,

BioClinica, Medidata Solutions,

DATATRAK International Inc.

are increasingly focusing on mergers and acquisitions in order to expand their customer base and gain a competitive edge in the industry.

Hence, the market will exhibit huge expansion in the coming years,

primarily because of the increasing number of clinical trials which are carried out in several countries

and the expansion of the pharmaceutical and biotechnology industry across the world.

Therefore, it can be said with surety that the demand for e-clinical solutions will surge tremendously all over the world in the forthcoming years, primarily due to the increasing outsourcing of clinical trials and the increasing investments being made in R&D activities in the healthcare industry across the globe.

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