Electronic Clinical Outcome Assessment (eCOA) Solutions Market To Reach USD 2.52 Billion By 2026 | Reports And Data

Growing adoption of cloud computing coupled with increasing outsourcing of clinical trials to CRO’s is likely to stimulate demand.

Market Size – USD 0.69 billion in 2018, Market Growth - CAGR of 17.6%, Market Trends – Increasing advancements in eCOA applications 

NEW YORK, March 28, 2019 (GLOBE NEWSWIRE) -- The global Electronic Clinical Outcome Assessment Solutions market is expected to reach USD 2.52 billion by 2026, according to a new report by Reports and Data. Strict regulatory norms being imposed on the pharmaceutical and biotech industry during the period 2016-2017 have forced the drug manufacturing companies to digitalize the process of their clinical trial outcomes, which would involuntarily allow software solution providers to increase their market share in this segment.

eCOA solutions enables clinical trials to proceed with distinguishable time savings which would allow outsourced companies handling clinical trials to accelerate their accommodation with new projects in hand.  eCOA solution allows clinical trials to proceed with distinguishable time savings which allow outsourced companies handling clinical trials to accelerate their accommodation with new projects in hand.

The Asia-Pacific market is expected to grow at the highest CAGR of 21.3% from 2018 to 2026. A number of factors, including increasing government funding to support clinical trials, presence of less stringent regulatory guidelines compared to developed nations, availability of a large patient base and faster patient recruitment for clinical trials, and growing number of pharmaceutical companies and CROs are stimulating the growth of the eCOA solutions market in the Asia-Pacific region.

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Further key findings from the report suggest

• Contract Research Organizations (CROs) held the largest revenue share in 2017 and are expected to witness significant growth in near future due to growing demand from the major pharmaceutical companies. The rapidly growing clinical research industry is expected to have a positive impact on market growth of eCOA solutions.
• Asia Pacific market is forecasted to grow at a CAGR of 21.3% in the coming years. Increase in the number of clinical trials conducted in countries including China and India is likely to create significant growth opportunities for the market. Presence of skilled investigators and assisting manpower in trials and IT management, the former being well-trained in good clinical practice (GCP) and other good practices norms in India is also anticipated to stimulate demand.
• Key participants include OmniComm Systems, eClinical solutions, CRF Health, Oracle Corporation, Paraxel International Corporation, Kayentis, Medidata Solution, Inc., Merge Healthcare Incorporated and ERT Clinical. CRF Health is a key player in the eCOA solution market. The company offers a range of solutions involved in developing and collecting eCOA data including TrialStudio, TrialMax and TrialManager.

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For the purpose of this report, Reports and Data have segmented global Electronic Clinical Outcome Assessment solution market on the basis of types, application and region:

• Product Outlook (Revenue, USD Billion, 2018-2026)
  • Web-based Solution
  • Licensed Industries
  • Cloud-based
• Application Outlook (Revenue, USD Million, 2015-2026)
  • Hospitals
  • Contract Research Organizations
  • Academic institutes
  • Pharma and biotech companies
  • Medical Device Manufacturers

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• Regional Outlook (Revenue, USD Billion, 2018-2026)
  • North America
    1. U.S.
  • Europe
    1. Germany
    2. UK
    3. France

• • Asia Pacific
    1. China
    2. India
    3. Japan

• • Latin America
    1. Brazil
  • MEA

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