eCOA Solution Market Size

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.