ECOA Market Size shall reach a value of $xx Million in 2028, growing with a CAGR of 9.1% during the forecast period of 2021 to 2028.
eCOA Market Growth and Trends
The electronic clinical outcome assessment market or the eCOA market held a market value of US$ 0.69 billion in 2018 and is expected to grow at a CAGR of 14.9% to an estimated market value of US$ 2.52 billion by 2024. The increasing digitalization is the major driving factor behind the growth of the eCOA market.
The increasing urbanization has resulted in emerging economies with higher disposable incomes. The rising health awareness globally has to lead to the demand for highly efficient clinical handling in the healthcare sector. With the rising population and a rapidly changing shift towards destructive lifestyles, the number of morbid cases of diseases and disorders is at an all-time high. This has lead to a lucrative growth in the demand for research activities and clinical trials towards developing novel treatments and drugs in the healthcare sector. As the number of research studies carried out increases, the need for a centralized operating data-capture system such as eCOA has also expanded.
The progressing pharmaceutical industry is a major contributor to the eCOA market. The increasing cut-throat competition among the pharmaceutical producers has to lead them to slash the overall prices and costs for novel drug development processes. This ultimately results in the adoption of electronic-based data capturing over the paper-based methods. The technological advantages provided by the eCOA system has also made it more desirable among end-users based on reducing manual intervention, eliminating personnel error, high patient compliance, minimizing data variance, hastening the process, harmonizing the data collected, and extensive data analyses. The improved quality of data collection and organization provided by the eCOA system has significantly increased the demand for the eCOA market.
The highly received patient-centric pharmacotherapeutic approach has positively impacted the market growth. The surge in the number of Contract Research Organizations (CROs) has also been adding a vital market share to the eCOA market. CROs held the largest market share in the year 2016 and are expected to grow at a steady CAGR in the next decade. The increasing trend of BYOD in workplaces has found its way through to the hospitals as well. The eCOA system can efficiently capture data on all handheld devices such as smartphones while using security systems complying with the regulatory guidelines for data capturing.
The web-hosted eCOA segment has held the largest market share in 2020 and is expected to do so until 2025. The increasing cloud-based services are expected to drive the market growth positively, making the cloud-based eCOA segment the second contributor to the market share.
eCOA Industry Regional Analysis
eCOA Market Research Report Scope/Definition
eCOA Market Share and Competition Key companies operating in this industry are: Oracle, Parexel International Corporation, ERT Clinical, Bioclinica, IBM Corporation, eClinical Solutions LLC, ArisGlobal LLC, Signant Health, Medidata, Omnicomm Systems, Inc., YPrime, LLC, Clinical Ink, WIRB-Copernicus Group, Kayentis
eCOA Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Delivery Mode Analysis (Revenue, USD Million, 2021 - 2028)
• Web-hosted
• Licensed enterprises
• Cloud-based
End-use Analysis (Revenue, USD Million, 2021 - 2028)
• Hospitals
• CROs
• Academic Institutes
• Pharma & Biotech Companies
• Medical Device Manufacturers
Region Analasis (Revenue, USD Million, 2021 - 2028)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
eCOA Industry Companies
• Oracle,
• Parexel International Corporation,
• ERT Clinical,
• Bioclinica,
• IBM Corporation,
• eClinical Solutions LLC,
• ArisGlobal LLC,
• Signant Health,
• Medidata,
• Omnicomm Systems, Inc.,
• YPrime,
• LLC,
• Clinical Ink,
• WIRB-Copernicus Group,
• Kayentis
Available Versions of eCOA Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report
