Electronic Clinical Outcome Assessment (eCOA) Market Set For Rapid Growth, To Reach Value Around USD 5143.27 million by 2032
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Zion Market Research has published a new report titled “Electronic Clinical Outcome Assessment (eCOA) Market by Type (Web Hosted, Licensed Enterprise, and Cloud-Based) and by Platform (Hospitals, CROs, Academic Institutes, Pharma & Biotech Organizations, and Medical Device Manufacturers): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024 – 2032”.
According to the report, The global electronic clinical outcome assessment (eCOA) market size was worth around USD 1372.54 million in 2023 and is predicted to grow to around USD 5143.27 million by 2032 with a compound annual growth rate (CAGR) of roughly 15.81% between 2024 and 2032.
Market Analysis: Electronic Clinical Outcome Assessment (eCOA)
Introduction:
Overview of eCOA and its significance in clinical trials and healthcare research.Explanation of how eCOA solutions are transforming the collection of patient-reported outcomes (PROs) and clinical data.
Methodology:
Description of the methodology employed for market analysis.Sources utilized, including industry reports, market surveys, and expert interviews.
Global Market Size:
Total revenue generated by the global eCOA market.Historical growth trends and forecasts for future market expansion.
Electronic Clinical Outcome Assessments (eCOAs) determine a patient's condition as along with the effects and progression of a disease. The eCOAs provide real-time visibility that helps in improving the adherence to protocol execution, ensuring patient safety and engagement, and reducing trial risks. The growing penetration of advanced technologies, the rising adoption of software solutions during research studies, government initiatives to support clinical trials, and huge R&D expenditure by pharmaceutical companies are some key factors fueling the electronic clinical outcome assessment (eCOA) market over the forecast time period. However, the high implementation cost might hinder the future of electronic clinical outcome assessment (eCOA) market.
By type, the electronic clinical outcome assessment (eCOA) market is segmented into the licensed enterprise, web hosted, and cloud-based. Web-hosted held a major market share in 2017 and is anticipated to continue its dominance in the future. This growth can be due to the web-hosted eCOAs’ ability to provide access to patient’s health information from any remote location, facilitate data sharing, restrict its misuse, and address the issues at the critical point of the study. Furthermore, these services need a proper IT infrastructure facility that is likely to incur higher costs for small-scale firms. Moreover, companies offering these services are ERT Solutions and CRF Health.
By platform, the electronic clinical outcome assessment (eCOA) market is categorized into hospitals, academic institutes, CROs, pharma and biotech organizations, and medical device manufacturers. Contract Research Organizations (CROs) held a major revenue share in 2017 and is anticipated to maintain its dominance over the forecast time period. This can be attributed to the growing demand from major pharmaceutical companies and the rising need for enhancing the cost-efficiency of clinical development studies.
The regional segmentation includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for a major electronic clinical outcome assessment (eCOA) market share in 2017 and is expected to continue its dominance over the forecast time period. This regional growth can be attributed to the presence of technologically advanced research centers, universities, medical device manufacturers, and hospitals and the huge presence of enhanced healthcare establishments. The U.S. accounted for a major market share in the North American electronic clinical outcome assessment (eCOA) market in 2017, owing to a higher adoption rate of healthcare analytics services.
Electronic Clinical Outcome Assessment (eCOA) Market: Competitive Analysis
The global electronic clinical outcome assessment (eCOA) market is dominated by players like:
Oracle Corporation
Medidata Solutions, Inc.
Paraxel International Corporation
Merge Healthcare Incorporated
eClinical Solutions
OmniComm Systems, Inc.
CRF Health
ERT
BioClinica
This report segments the global electronic clinical outcome assessment (eCOA) market as follows:
Electronic Clinical Outcome Assessment (eCOA) Market: Type Analysis
Web Hosted
Licensed Enterprise
Cloud-Based
Electronic Clinical Outcome Assessment (eCOA) Market: Platform Analysis
Hospitals
CROs
Academic Institutes
Pharma & Biotech Organizations
Medical Device Manufacturers
Electronic Clinical Outcome Assessment (eCOA) Market: Regional Analysis
North AmericaThe U.S.
EuropeUKFranceGermany
Asia PacificChinaJapanIndia
Latin AmericaBrazil
The Middle East and Africa
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