eClinical Solutions Market is Expected to Reach USD 12.8 Billion by 2024

eClinical solutions market is expected to reach USD 12.8 billion by 2024, according to a new report published by Grand View Research Inc. The eClinical solutions market is anticipated to witness a lucrative growth during the period 2016 to 2024. The factors attributing towards the growth of the market are increase in the research and development activities by numerous biopharma and pharma companies, increasing application of software solutions in clinical trials, upsurge in the government funding to promote clinical research programs, rise in the number of Contract Research Organizations (CROs) and life sciences organizations, and increasing customer base. 

Additionally, factors such as increasing outsourcing of clinical trials to CROs, escalating clinical research programs in Asian countries, as well as, the development of cost-effective modules are expected to be opportunistic for the industry growth. However, the shortage of skilled labor force, high implementation costs of the eClinical solutions and the lack of awareness of clinical data sciences software in the research community are likely to hinder the growth of the market in the near future. 

The eClinical solutions market is segmented on the basis of product, delivery mode, clinical trial phase, end-user, and region. Based on the product, the industry is categorized into clinical analytics platforms, electronic Clinical Outcome Assessment (eCOA), Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS), clinical data integration platforms, safety solutions, Clinical Trial Management Systems (CTMS), Randomization and Trial Supply Management (RTSM), and electronic Trial Master File (eTMF). 

Global eClinical solutions market, 2013 - 2024 (USD Million)

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Further key findings from the study suggest:

• In 2016, North America is estimated to lead the market with the largest share in the eClinical solutions industry. The rising number of ongoing clinical trials, high demand for technologically advanced products, and increasing financial support from the government is anticipated to boost the industry growth.

• The eCOA segment is anticipated to witness the highest growth rate during the forecast period, whereas the EDC and CDMS segment is estimated to lead the market in the year 2016. Factors attributing to the growth of the industry are the increasing application of mobile and digital technologies, as well as, an upsurge in the demand for eDiaries in clinical trials for the collection of patient’s self-reports by pharmaceutical companies.

• The eClinical solutions industry comprises several local as well as global players. Some of the major players in this industry include Oracle Corporation, Medidata Solutions Inc., Parexel International, Inc., and Datatrak, among others. 

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Diabetes Devices Market is Expected to Reach USD 35.5 Billion by 2024

The global diabetes devices market is expected to reach USD 35.5 billion by the year 2024, according to a new report published by Grand View Research, Inc. Major drivers of the market include the growing number of diabetic patients owing to the sedentary lifestyles and unhealthy food habits. The growing demand for the advanced and minimally invasive, diagnostic as well as monitoring devices is expected to propel the market growth during the forecast period.

The rising awareness with regard to the technologically advanced monitoring tools, such as the continuous glucose monitor, is a crucial factor expected to spur the growth of the market. The demand for affordable monitoring devices in the developed as well as the less-developed countries is expected to propel the market growth of products, such as glucose test strips.

The existence of relatively smooth product approval procedures in most of the developed countries including the U.S and European countries are expected to boost the insulin devices market. The rising popularity of the compact, easy to carry monitoring devices, and the introduction of minimally invasive, highly efficient devices is expected to drive the market growth at a lucrative rate. However, the disparity in the reimbursement policies is primarily challenging the overall growth of this market.

China Diabetes Device Market, By monitoring and diagnostic devices type, 2014 - 2024 (USD Million)

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Further key findings from the study suggest:

• The demand for the diabetes devices is expected to surge owing to the factors such as the constantly increasing geriatric population prone to diabetes, the government initiatives taken to support better management of diabetes, and the growing awareness regarding diabetes devices

• In 2015, the test-strips sub-segment captured the largest market share in the blood glucose monitoring and diagnostic devices segment. The insulin pens accounted for the largest share of the insulin delivery devices segment. The global diabetes devices market is expected to reach USD 35.4 billion in 2024.

• The monitoring and diagnostic devices segment captured the largest market share of the overall market in 2015. The segment accounted for around 71% of the total market owing to repeat purchases.

• The monitoring and diagnostic devices segment is expected to maintain its dominance during the forecast period owing to the introduction of technologically advanced products coupled with the high adoption of these products in the near future

• North America captured the largest market share of around 32% in the year 2015. The domination of the market is expected to continue with a CAGR of 5.9%. The growing diabetic population, the availability of technologically advanced devices, and the presence of skilled professionals are the factors contributing to the growth of the market in North America.

• Asia Pacific is the fastest growing segment of the market. Countries, such as China and India are expected to show a swift growth owing to the high prevalence of diabetes, the rising awareness regarding commercially available devices, and the growing disposable income in these countries

• The key players in diabetes devices market include Abbott Laboratories, Inc., Bayer Healthcare AG, Johnson& Johnson, F. Hoffmann La-Roche Ltd., Becton Dickinson and Company, Medtronic, Inc., Novo Nordisk A/S, and Sanofi. 

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Idiopathic Thrombocytopenic Purpura (ITP) Therapeutics Market is Expected to Reach USD 566.4 Million by 2020

Global idiopathic thrombocytopenic purpura (ITP) therapeutics market is expected to reach USD 566.4 million by 2020. Rising R&D leading to the introduction of new drugs for IVIG and TPO-RA classes is expected to propel growth over the forecast period. In addition, government regulation such as the Orphan Drug Act in the United States with an aim to encourage new product development is projected to fuel growth.

The industry is characterized by rising demand for combination therapies as they exhibit higher efficiency as compared to other treatments. Moreover, they are cost efficient and help curb side effects associated with individual therapeutic classes. Some of the major combination therapies are dexamethasone and rituximab, dexamethasone and TPO-RA, IVIG and corticosteroids. Splenectomy, the procedure to remove spleen is aimed at reducing the amount of anti-platelet antibodies, is expected to fuel demand.

The global market for corticosteroid is valued at over USD 125.0 million in 2013. Corticosteroids are regularly used in idiopathic thrombocytopenic purpura treatment.

Global ITP therapeutics market, by product, 2012 – 2020 (USD Million)

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TPO-RA is likely to witness substantial growth, growing at a CAGR of over 9.0% from 2014 to 2020 owing to high response rates exhibited by patients administered with Eltrombopag and Romiplostim. Moreover, demand for TPO-RA is expected to increase due to the commercialization of Avatrombopag in 2015. In addition, the ability of TPO-RA to cater to splenectomized patients witnessing relapses is expected fuel demand over the next six years.

North America accounted for a majority share in 2013 due to rising occurrence of diseases coupled with the presence of high treatment rates, favorable government initiatives, and funding programs. North America had a share of over 40% of the global ITP market by revenue in 2013 and is expected to witness high demand over the forecast period.

Europe accounted for the second largest market share in 2013. This trend is projected to continue over the forecast period due to high usage rates of products along with government initiatives granting of special status to orphan drugs factors.

Asia Pacific is expected to experience substantial growth over the next six years, owing to the presence of favorable government initiatives, and sophisticated healthcare infrastructure in Australia and Japan. In addition, the presence of vast untapped opportunities in emerging markets such as China and India is expected to propel growth.

Some of the major players in the industry are and GlaxoSmithKline Plc., Hoffman-L Roche, Amgen Inc and Grifols Biologicals Inc. The companies make significant R&D investments aimed at new product development by taking advantage of incentives offered under the pertinent government regulations.

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