Overview and Scope
Electronic Clinical Outcome Assessment (eCOA) refers to the use of electronic methods and technologies to collect, manage, and analyze clinical outcome assessment data in clinical trials and other healthcare research settings. eSource refers to the use of electronic systems to capture, manage, and store data generated during clinical trials. A clinical trial is a research study that is conducted to evaluate the safety, efficacy, and effectiveness of a new medical intervention. eCOA and eSource are used to enhance the efficiency, accuracy, and reliability of data collection and management in clinical trials.
Sizing and Forecast
The ecoa, esource & clinical trials market size has grown strongly in recent years. It will grow from $44.85 billion in 2023 to $48.94 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to adoption of electronic data capture in clinical trials, evolution of regulatory standards for electronic clinical outcome assessments (ecoa), growth of mobile and wearable health technology, increase in complexity and scale of clinical trials, emphasis on patient-centric approaches in clinical research.
The ecoa, esource & clinical trials market size is expected to see strong growth in the next few years. It will grow to $67.33 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to expansion of global clinical trial networks, rise in demand for real-time data access and monitoring, development of cloud-based eclinical solutions, growth of remote and virtual patient monitoring solutions, increase in the use of electronic patient-reported outcomes, rise in demand for wearables for continuous patient monitoring, surge in adoption of mobile health apps for patient engagement, emphasis on user-friendly and patient-centric ecoa designs. Major trends in the forecast period include technological advancements in esource solutions, adoption of blockchain for secure and transparent clinical data management, adoption of artificial intelligence for data analysis in clinical research, integration of machine learning for predictive analytics in clinical trials, development of decentralized clinical trial ecosystems.
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Segmentation & Regional Insights
The ecoa, esource and clinical trials market covered in this report is segmented –
1) By Solution Type: eCOA (Electronic Clinical Outcome Assessment), eSource, Clinical Trial Solutions, Electronic Data Capture (EDC)
2) By Deployment: Licensed Enterprise (On-premise), Cloud-Based (SaaS)
3) By End User: Hospital, Healthcare Providers, CROs, Pharmaceutical Industry, Biotechnology Industry, Medical Device Industry, Other End Users
North America was the largest region in the eCOA, eSource and clinical trials market in 2023. The regions covered in the ecoa, esource and clinical trials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing demand for more clinical trials is expected to propel the growth of the eCOA, eSource and clinical trials market. Clinical trials refer to research studies conducted to evaluate the safety, efficacy, and effectiveness of new medical interventions or treatment approaches. The use of eSource and eCOA solutions helps pharmaceutical companies speed up trials and conduct more trials in less time. eCOA solutions replace traditional paper-based, patient-reported outcomes by using innovative technologies to collect clinical outcome data. For instance, in June 2023, according to a report published on ClinicalTrials.gov, a US-based registry of clinical trials run by the United States National Library of Medicine, the number of registered studies will be 457,100 in 2023, representing a significant increase from 362,479 in 2020. Therefore, the growing demand for more clinical trials is driving the growth of the eCOA, eSource and clinical trials market.
Key Industry Players
Major companies operating in the ecoa, esource and clinical trials market report are The International Business Machines Corporation, Oracle Corporation, Novo Nordisk A/S, Laboratory Corporation of America Holdings, IQVIA Inc., Icon PLC, PPD Inc., Syneos Health Inc., Parexel International Corporation, Medpace Holdings Inc., TransPerfect Life Sciences, Medidata Solutions Inc., Signant Health Private Limited, Clario, Advarra Inc., Medable Inc., ArisGlobal LLC, Kayentis SAS, YPrime LLC, Clinical Ink, Cloudbyz Inc., Medrio Inc., assisTek Inc., OpenClinica LLC, Castor EDC, Clinipace Inc., Hospira Inc.
The ecoa, esource and clinical trials market report table of contents includes:
1. Executive Summary
2. eCOA, eSource And Clinical Trials Market Characteristics
3. eCOA, eSource And Clinical Trials Market Trends And Strategies
4. eCOA, eSource And Clinical Trials Market – Macro Economic Scenario
5. Global eCOA, eSource And Clinical Trials Market Size and Growth
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31. eCOA, eSource And Clinical Trials Market Other Major And Innovative Companies
32. Global eCOA, eSource And Clinical Trials Market Competitive Benchmarking
33. Global eCOA, eSource And Clinical Trials Market Competitive Dashboard
34. Key Mergers And Acquisitions In The eCOA, eSource And Clinical Trials Market
35. eCOA, eSource And Clinical Trials Market Future Outlook and Potential Analysis
36.Appendix
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