eCOA eSource & Clinical Trials Market Growth Rate, Future Trends and Challenges,

Posted by Preet on October 30th, 2019

The Fact.MR study opines that though the deployment of clinical trial solutions overshadowed the use of Electronic Clinical Outcome Assessment (eCOA), eSource, and EDA in 2018, the market is envisaged to witness a range of changes during the foreseeable period. Growing penetration of Bring Your Own Device (BYOD) trend in clinical trials is highly likely to pace up the use of eCOAs, such as ePROS, ClinROs, ObsROs, and PerfORs across wide range of pharmaceutical companies and research facilities.

Read Report Summary: https://www.factmr.com/report/4042/ecoa-esource-clinical-trials-market

eCOAs is envisaged to hold ~45% of the overall spending share by the end of 2029, in line with the growing use of smartphones and tablets to seamlessly collect clinical data for analysis. Additionally, reduced cost and high scalability of eCOA are the primary determinants that continue to push its adoption during clinical trials, which is envisaged to contribute significantly to the growth of the eCOA, eSource & clinical trials market

As per the Fact.MR study, the increasing prevalence of various chronic infectious diseases has led to a dire unmet need for efficient clinical trials in developing countries. Moreover the rising medical expense in these regions, which can be attributed to the fact that private hospitals are the key healthcare providers herein, continue to fuel clinical trial participation in developing countries. This, coupled with the growing awareness about the cost and efficiency benefits of using eCOA, eSource & clinical trial solutions for conducting clinic trials, and comparatively lenient regulatory framework are likely to add to the lucrativeness of developing countries, such as China and India for market players.

Request for Report Methodology: https://www.factmr.com/connectus/sample?flag=RM&rep_id=4042

The rapidly advancing healthcare infrastructure, fast internet connectivity, and stringent regulatory product approval framework continue to make North America and Europe a hotbed of opportunities for stakeholders. With an increased number of companies getting cloud based (SaaS) deployment of clinical trial solutions in developed regions, owing to smooth internet connectivity, the market continues to accelerate at a steady pace. Cloud based deployment of digitized solutions accounted for 64% of the overall spending in Europe. 

As per the study North America eCOA, eSource & clinical trials spending has been witnessing a steady growth over the years, with the US spending expected to account for ~90% revenue share in the regional eCOA, eSource & clinical trials spending in 2018. In view of the manifold cost and processing benefits of digitization in clinical trials, a larger number of pharmaceutical companies, contract research organizations, and education & research institutions have shifted their focus on paperless approaches. Growing adoption of clinical trial solutions, which contributed ~40% revenue share in North America eCOA, eSource, and clinical trials market, continue to create a window of opportunities of growth for market players.