Electronic Clinical Outcome Assessment (eCOA) Solution Market Size & Share, by Product (Web Based eCOA Solutions, On Premise Based eCOA Solutions, Cloud Platform Based eCOA Solutions); Approach (Patient Reported Outcome Assessment [PRO], Clinician Reported Outcome Assessment [ClinRO], Others); End-User (Pharmaceutical & Biopharmaceutical Companies, Contract Research Organizations, Others) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5473
  • Published Date: Dec 22, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

eCOA Solution Market size is projected to capture USD 15 billion by the end of 2036, growing at a CAGR of 15% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of electronic clinical outcome assessment solution was USD 1 billion. The major factor for the growth of the sector is a surge in the prevalence of COVID-19. For instance, around the world coronavirus (COVID-19) infections were close to 767 million as of June 13, 2023. The healthcare sector has been diligently working to quickly contain the COVID-19 outbreak.

However, the procedure of creating and testing novel vaccine candidates often takes years. But, owing to recent developments in scientific research, data gathering, and analytics tools, developers can expedite this process by several months without sacrificing the accuracy of the study and data. Hence, the importance for eCOA is growing since it could be used to collect patient-reported outcomes (PROs) and provide sponsors with nearly immediate access to study trends. Furthermore, there has been heavy investment made in research & development to update the current eCOA solution technology owing to the growth in outbreaks of various other disease after Covid19.


eCOA Solution Market
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eCOA Solution Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~15%

Base Year Market Size (2023)

~ USD 1 Billion

Forecast Year Market Size (2036)

~ USD 15 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Electronic Clinical Outcome Assessment Solution Market: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • Surge in Shift from Paper Based Clinical Trials to Electronic Data Collection Strategy - An online platform, electronic data capturing (EDC) is employed to gather and retain data from clinical studies. It is a substitute to the paper-based data capture (PDC) technique, in which the doctors distribute a paper-based questionnaire to trial participants, requesting them to fill it out. The comparison's findings show that both the paper-based data capture (PDC) and electronic data capture (EDC) systems yield greater benefits. However, it is further indicating that the practical shift towards electronic data capture (EDC) among clinicians and other researchers involved in clinical trials is a result of data capture through electronic means.
  • Rising Adoption of Cloud in Healthcare - Cloud has shown greater benefits in various industries and further, it has also paced its importance in the healthcare sector. Hence, its need is also growing in eCOA solution. Using a cloud-based eCOA system, it's possible to digitally gather high-quality data for the clinical trial in a decentralized, remote manner and analyze it immediately.
  • Growth in Adoption of Smartphones - Over 5 billion individuals use smartphones around the globe as of 2023, which corresponds to approximately 84% of people on the planet owning a smartphone. Therefore, the demand for eCOA solutions is also set to grow. As mobile technologies keep improving, smartphones are becoming more essential tools for collecting vital data from clinical trial participants. Bring-your-own-device (BYOD) trials, in which patients use their own cell phones to provide patient-reported outcomes data, have garnered a lot of attention in recent years due to their advantages. Furthermore, it reduces the direct contact with patients in case of viral infections. 

Challenges

  • Lack of Training Among Personnel - Getting respondents to fill out electronic questionnaires presents a number of challenges related to user engagement, data quality assurance, and technological unfamiliarity. Additionally, it's possible that some respondents lacked technological proficiency, which made using electronic platforms difficult. The equipment or software needed to complete electronic questionnaires may be challenging for some people to comprehend, especially elderly individuals or those with low levels of computer literacy. This may lead to mistakes, insufficient answers, or discomfort, which could have an effect on the precision and dependability of the information gathered. As a result, the eCOA solution market growth on account of this factor is set to impede.
  • Concern Regarding Data Security - Data security is an important issue for healthcare organizations. Any attempt on the part of a business to reduce expenses must not compromise safety. The expense of repairing the breach might quickly wipe out any savings, which could have a negative impact on an organization's finances and reputation. Hence, this factor could hinder the adoption of eCOA solution.
  • Lack of High Investment for the Adoption of eCOA solution in developing region 


eCOA Solution Segmentation

End-User (Pharmaceutical & Biopharmaceutical Companies, Contract Research Organizations, Medical Device Manufacturers, Consulting Service Companies, Hospitals, Researchers & Academia)

The contract research organizations segment is projected to hold 30% share of the global electronic clinical outcome assessment solution market during the forecast period. Since there are a lot of unmet medical needs in the current pharmaceutical market, sponsors have to contend with more challenges than just navigating the FDA's complicated application and communication process. They also have to focus on executing clinical trials well and quickly. Due to this, using a CRO has become much more essential to the research process than it was previously. Furthermore, even though the biopharma sector offers numerous chances for remote work, CROs have the ability to attract more contract and part-time workers since they frequently base hiring decisions on the duration of individual projects. Hence, large number of organizations is opting for CRO.

Product (Web Based eCOA Solutions, On Premise Based eCOA Solutions, Cloud Platform Based eCOA Solutions)

Electronic clinical outcome assessment solution market from the web based eCOA segment is set to gather the largest share of about 50% by 2036. This eCOA is projected to be utilized heavily in hospitals and healthcare facilities in order to handle patient data. Hence, with the growth in several hospitals is segment is expected to experience growth. For instance, in 2021, all around the world the number of hospitals totaled to about 164,000. Among the main features offered by these solutions are remote access to the patient's health information and sharing of the data to avoid potential data misuse or address challenges at a crucial point of research. Additional advantages encompass data centralization, scalability, cost reduction, and consistent uptime.

Our in-depth analysis of the global electronic clinical outcome assessment solution market includes the following segments:

Product

  • Web Based eCOA Solutions
  • On Premise Based eCOA Solutions
  • Cloud Platform Based eCOA Solutions

Approach

  • Patient Reported Outcome Assessment [PRO]
  • Clinician Reported Outcome Assessment [ClinRO]
  • Observer Reported Outcome Assessment [ObsRO]

 End-User

  • Pharmaceutical & Biopharmaceutical Companies
  • Contract Research Organizations, Medical Device Manufacturers
  • Consulting Service Companies
  • Hospitals, Researchers & Academia

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eCOA Solution Industry - Regional Synopsis

North American Market Analysis

The North America electronic clinical outcome assessment solution market is projected to gather the highest share of about 30% over the forecast period. The main factor behind the growth of the market in this region could be owing to the surge in the conduction of clinical trials research along with the availability of advanced research centers. Furthermore, approximately 39% of the US pharmaceutical research budget, or over USD 6 billion annually, is dedicated to clinical trials. Patient recruiting is projected to cost about USD 2 billion, or close to 39% of the overall budget. Hence, the eCOA solution market is also set to rise in this region. Furthermore, this region has excellent healthcare facilities owing to the high investment made by the government which is further predicted to drive the region’s market expansion.

APAC Market Analysis

The electronic clinical outcome assessment solution market is Asia Pacific is also projected to have significant growth during the forecast period. This region’s growth is set to be influenced by rising investment by MNCs and CROs to support discovery of new drugs. The APAC region is replete with potential for growth and development, and it has one of the world's quickest drug discovery innovation rates. As contrast to its Western equivalents in the US and the EU, the pharmaceutical market in Asia-Pacific is unique. The region's diverse regulatory landscape and the great disparities in the infrastructures supporting the pharmaceutical industry are key factors driving the dynamics of its industry. Since innovation differs so much between nations due to these complexities, each can carve out a unique niche for itself in the global eCOA solution market. As a result, the market in this region in booming.

Research Nester
eCOA Solution Market size
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Companies Dominating the Electronic Clinical Outcome Assessment (eCOA) Solution Market

top-features-companies
    • Assistek
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Oracle
    • Castor
    • Clario
    • Signant Health
    • Mednet
    • Veeva Systems
    • WCB Clinical
    • Cloudbyz
    • ClinCapture  

In-the-news

In The News

  • assisTek, a pioneer in providing eSource solutions for electronic data collection from clinicians and patients in clinical trials, today announced the launch of its innovative web-based electronic clinical outcome assessments (eCOA) solution. This will facilitate remote data collection for sites and patients during these difficult times brought on by the COVID-19 pandemic.
  • Trial sponsors were able to conduct hybrid studies incorporating multisource data from home, from sensors and wearables, and from doctors at sites thanks to ObvioHealth and Oracle Clinical One. The virtual site team at ObvioHealth was able to see patient symptoms during and between visits in almost real time because to the integration of all this data. The workload for patients and the sites was lessened because to the remote data collection and smooth workflow.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 5473
  • Published Date: Dec 22, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are the surge in shift from paper-based clinical trials to electronic data collection, the rising adoption of cloud in healthcare, and the growth in the adoption of smartphones.

The market size of eCOA solution is anticipated to attain a CAGR of 15% over the forecast period, i.e., 2024-2036.

The major players in the market are Assistek, Oracle, Castor, Clario and others.

The web based eCOA solution segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
eCOA Solution Market Report Scope
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