|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The major factors found propelling the growth of the market include the high demand for clinical trials in emerging markets, high R&D spending of the pharmaceutical industry, increasing prevalence of diseases, and inclination from manual data interpretation to real-time data analysis are expected to offer significant growth opportunities for global players during the study period.
Moreover, regulatory agencies have increasingly highlighted the significance of evaluating broader characteristics of patient well-being to define therapeutic gain in an enhanced manner. As a result, clinical outcome assessments (COAs) are increasingly used to estimate the impact of treatments for various chronic disorders, and in some instances, these have played a major role in the regulatory approval of drugs.
However, data privacy concerns and high implementation costs are acting as major restraints for the growth of the market.
Scope of the report
As per the scope of this report, electronic clinical outcome assessment (eCOA) uses the technology, such as smartphones, tablets, and computers, to allow the patients, caregivers, and doctors to directly report the outcomes of clinical trials. eCOA produces highly accurate data that allows for a better understanding of the patient experience in clinical trials, and ultimately helps simplify the path to approval.
|By Delivery Mode|
|Patient-reported outcome (PRO)|
|Clinician-reported outcome (ClinRO)|
|Observer-reported outcome (ObsRO)|
|Performance outcome (PerfO)|
|Pharmaceutical and Biopharmaceutical Companies|
|Contract Research Organizations|
Key Market Trends
web-hosted eCOA Segment expected to Grow at Significant Rate
With the increasing use of eCOA, additional modifications have provided a detailed understanding of the proper use of eCOA, for more benefits and improvisation of the data quality.
The web-hosted eCOA gives more compatibility to clinicians, as it is easy to operate and can keep the whole record throughout the clinical trials, from Phase I to IV.
Web-hosted eCOA solutions help reduce the development timeline and provide faster results. These solutions are helpful in the administration of clinical trials. For instance, the web-hosted eCOA helps in real-time management, instant alerts, and consistency check during clinical trials.nWith increasing use of tablets and smartphones, web-hosted eCOA has become easily accessible. The ease of access is one of the prime factors responsible for the increasing use of web-hosted eCOA, among clinicians and patients.
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North America Expected to have Significant Market Share
Electronic Clinical Outcome Assessment Solutions (eCOA) Market in North America is anticipated to grow significantly, due to rising clinical trials across the country. With the rising demand for drug development, the clinical trials are rapidly increasing in the United States and Canada.
In addition, constant advancements in eCOA modalities and strategic collaborations between major market players are contributing to the rising demand for these solutions in the country. For instance, In June 2018, OmniComm Systems Inc. and Kayentis entered a partnership, under the terms of the partnership, the two companies are expected to work together to provide life science clients with OmniComm’s TrialMaster electronic data capture (EDC) suite integrated with Clin’form, eCOA solution Suite from Kayentis, thereby, offering enhanced integration of the two platforms.
The clinicians across the region rely on novel technologies for data management. Owing to the significance of eCOA solutions in providing ease of access, clinicians are proffering these platforms for clinical trial management.
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Electronic Clinical Outcome Assessment Solutions (eCOA) market is moderately fragmented and competitive. Market players are focusing on new product launches and regional expansions to increase their market share. The key market players operating in the market include IQVIA Inc., Veeva Systems, Parexel International Corporation, Signant Health, WIRB-Copernicus Group amongst others.
Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Externalization of Clinical Trial Studies by Large Pharmaceutical and Biopharmaceutical Companies
4.2.2 Growing Demand for Cloud Based Services
4.2.3 Constant Advancements in eCOA Modalities
4.3 Market Restraints
4.3.1 Data Security and Privacy Concerns
4.3.2 High Cost of Implementation
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Delivery Mode
5.1.1 Web Hosted
5.1.2 Cloud Based
5.2 By Approach
5.2.1 Patient-reported outcome (PRO)
5.2.2 Clinician-reported outcome (ClinRO)
5.2.3 Observer-reported outcome (ObsRO)
5.2.4 Performance outcome (PerfO)
5.3.1 Pharmaceutical and Biopharmaceutical Companies
5.3.2 Contract Research Organizations
5.4.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.4.3 Asia Pacific
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-Eastst and Africa
5.4.5 South America
184.108.40.206 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Oracle Corporation
6.1.2 Castor EDC
6.1.3 Dassault Systmes (medidata)
6.1.4 ERT Clinical
6.1.5 IQVIA Inc.
6.1.7 Veeva Systems
6.1.8 Parexel International Corporation
6.1.9 Signant Health.
6.1.10 WIRB-Copernicus Group
6.1.11 Mednet Solutions
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Electronic Clinical Outcome Assessment Solutions Market market is studied from 2018 - 2026.
What is the growth rate of Electronic Clinical Outcome Assessment Solutions Market?
The Electronic Clinical Outcome Assessment Solutions Market is growing at a CAGR of 16.18% over the next 5 years.
Which region has highest growth rate in Electronic Clinical Outcome Assessment Solutions Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Electronic Clinical Outcome Assessment Solutions Market?
North America holds highest share in 2019.
Who are the key players in Electronic Clinical Outcome Assessment Solutions Market?
Kayentis, IQVIA Inc., Parexel International Corporation, Signant Health, WIRB-Copernicus Group are the major companies operating in Electronic Clinical Outcome Assessment Solutions Market.