North America Electronic Clinical Outcome Assessment (eCOA) Market, By Product (On-Premise Solutions, Cloud Based Solutions and Web Based Solutions), Approach (Clinician Reported Outcome Assessment (CLINRO), Patient Reported Outcome Assessment (PRO), Observer Reported Outcome Assessment (OBSRO) and Performance Outcome Assessment (PERFO)), End User (Commercial Service Providers, Hospitals and Transplant Centers, Research Laboratories and Academic Institutions), Platform (Contract Research Organizations, Pharmaceutical and Biopharmaceutical Companies, Medical Device Manufacturers, Hospitals and Clinical Laboratories, Consulting Service Companies, Research and Academia and Others) – Industry Trends and Forecast to 2030.
North America Electronic Clinical Outcome Assessment (eCOA) Market Analysis and Size
Rising number of clinical trials, are much needed to improve compliance, effectively capture and manage clinical information. The need to reduce costs, and an increase in R&D activities are anticipated to drive market growth. A French organization Kayentis have speciality of electronic clinical outcome assessment (eCOA) solutions receives funding of USD 8.3 million for project of eCOA solutions which will drive the market growth.
Data Bridge Market Research analyses that the electronic clinical outcome assessment (eCOA) market which is USD 194.00 billion in 2022, is expected to reach USD 676.58 billion by 2030, at a CAGR of 16.90% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
North America Electronic Clinical Outcome Assessment (eCOA) Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 – 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (On-Premise Solutions, Cloud Based Solutions and Web Based Solutions), Approach (Clinician Reported Outcome Assessment (CLINRO), Patient Reported Outcome Assessment (PRO), Observer Reported Outcome Assessment (OBSRO) and Performance Outcome Assessment (PERFO)), End User (Commercial Service Providers, Hospitals and Transplant Centers, Research Laboratories and Academic Institutions), Platform (Contract Research Organizations, Pharmaceutical and Biopharmaceutical Companies, Medical Device Manufacturers, Hospitals and Clinical Laboratories, Consulting Service Companies, Research and Academia and Others)
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Countries Covered
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U.S., Canada and Mexico in North America
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Market Players Covered
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IBM Corporation (U.S.), IQVIA (U.S.), Medidata Solutions, Inc. (U.S.), Clario (U.S), Signant Health (U.S.), TransPerfect (U.S.), Cloudbyz (U.S.), Climedo Health GmbH (Germany), ClinCapture (U.S.), Oracle Corporation (U.S.), Paraxel International Corporation (U.S.), eClinical Solutions LLC (U.S.), OmniComm Systems, Inc. (U.S.), CRF Health (U.S.)
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Market Opportunities
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Market Definition
Electronic Clinical Outcome Assessment (eCOA) is a method of electronically collecting outcomes data in clinical trials. eCOA uses technologies such as handheld devices, tablets, and the internet to enable trial participants, physicians, and carers to directly report information about healthcare outcomes.
North America Electronic Clinical Outcome Assessment (eCOA) Market Dynamics
Drivers
- Rising burden on pharmaceutical manufacturers
To reduce overall costs, new medication development techniques are gradually relying on electronic data capture rather than paper-based procedures. Data collection via electronic clinical outcome assessment platforms provides improved data quality, harmonises data collection practises, and delivers significant value to its users, in the form of data analysis. Electronic data collection and analysis services eliminate all of the drawbacks of paper-based records while growing patient compliance. They also lower the cost of site monitoring and eliminate the risk of data fluctuation. The above mentioned advantages of using electronic clinical outcome assessments are expected to drive product demand in the coming years.
- Rise in clinical outcome assessments
Clinical outcome assessments (COAs) are thus being used more frequently to evaluate the efficacy of various chronic illness therapies. These have frequently been critical in the regulatory approval of medicines. The addition of numerous services will also aid in its growth. For instance, in June 2021, Signant Health has launched a novel acceleration programme that cuts study setup timelines by 50% or more while maintaining clinical data quality. As a result, the increasing launch of novel programmes that assist companies in evaluating clinical trial studies is likely to boost demand for electronic clinical outcome assessment solutions, thereby boosting market growth.
Opportunities
- Rising demand for electronic clinical outcome assessment solutions
In a study that was published in the American Chemical Society Pharmacology and Translational Science, 2020, it was discovered that new potential therapeutics for COVID-19 were found using a combined virtual and experimental screening strategy and selected from a library of nearly 4,000 approved medications with hydroxychloroquine (HCQ) as a reference medication. As prospective clinical trial candidates against the early phases of SARS-CoV-2 infection, zuclopenthixol, nebivolol, and amodiaquine were suggested. Remdesivir and favipiravir treatments were also suggested as potential adjuvants in COVID-19 treatment. As more clinical trials are being conducted as a result of the repurposing of various medications, there is a greater demand for electronic clinical outcome assessment systems. There will likely be an increase in demand for electronic clinical outcome evaluation solutions.
Restraints/Challenges
- High implementation costs
Data privacy concerns and high implementation costs limit the market's growth. Moreover, over the projection period of 2023–2030, it is anticipated that the market will face challenges from a lack of favourable reimbursement scenarios in developing economies, high custom duty levied on medical equipment, and a lack of adequate infrastructure in low- and middle-income countries.
This electronic clinical outcome assessment (eCOA) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electronic clinical outcome assessment (eCOA) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Electronic Clinical Outcome Assessment (eCOA) Market
COVID-19 pandemic hampered the Clinical study management. Market participants adopted numerous initiatives, including the use of eClinical technology, to address these problems and guarantee the continuance of clinical research operations. Clinical trials were digitised as a result of the epidemic. In order to gather, organise, and extract valuable insights from data in a remote, cost-effective manner, a growing number of sponsors, biopharma firms, medical device companies, and contract research organisations (CROs) have started to employ eClinical systems. Patient data can be remotely obtained with the aid of electronic clinical outcome evaluation (eCOA).
Recent Development
- In 2020, Australia's Melbourne, Saudi Arabia's Jeddah, Japan's Osaka, Canada's Montreal, and the Netherlands are among the five new regions where Oracle has expanded its cloud system (Amsterdam) It is anticipated that the market expansion will benefit from greater consumer awareness of its cloud-based applications.
• In 2020, By integrating LifeSphere Medical Information and LifeSphere MultiVigilance into their service-oriented technology stack in 2020, Aris collaborated with Soterius, Inc. to broaden their product offering.
North America Electronic Clinical Outcome Assessment (eCOA) Market Scope
The electronic clinical outcome assessment (eCOA) market is segmented on the basis of product, delivery mode, approach, platform and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- On-Premise Solutions
- Cloud Based Solutions
- Web Based Solutions
Delivery Mode
- Web-hosted
- Cloud-based
Approach
- Patient-reported Outcome (PRO)
- Clinician-reported Outcome (ClinRO)
- Observer-reported Outcome (ObsRO)
- Performance Outcome (PerfO)
Platform
- Contract Research Organizations
- Pharmaceutical and Biopharmaceutical Companies
- Medical Device Manufacturers
- Hospitals and Clinical Laboratories
- Consulting Service Companies
- Research and Academia
- Others
End-User
- Commercial Service Providers
- Hospitals and Transplant Centers
- Research Laboratories and Academic Institutions
Electronic Clinical Outcome Assessment (eCOA) Market Regional Analysis/Insights
The electronic clinical outcome assessment (eCOA) market is analyzed and market size insights and trends are provided by country, product, delivery mode, approach, platform and end-user as referenced above.
The countries covered in the electronic clinical outcome assessment (eCOA) market report are U.S., Canada and Mexico in North America.
In the North America market, the U.S. is dominating the North America electronic clinical outcome assessment (eCOA) market because of the large number of companies, R&D capabilities, growing adoption of sequencing procedures and presence of major market players in that region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The electronic clinical outcome assessment (eCOA) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for electronic clinical outcome assessment (eCOA) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the electronic clinical outcome assessment (eCOA) market. The data is available for historic period 2011-2021.
Competitive Landscape and Electronic Clinical Outcome Assessment (eCOA) Market Share Analysis
The electronic clinical outcome assessment (eCOA) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to electronic clinical outcome assessment (eCOA) market.
Some of the major players operating in the electronic clinical outcome assessment (eCOA) market are:
- IBM Corporation (U.S.)
- IQVIA (U.S.)
- Medidata Solutions, Inc. (U.S.)
- Clario (U.S.)
- Signant Health (U.S.)
- TransPerfect (U.S.)
- Cloudbyz (U.S.)
- Climedo Health GmbH (Germany)
- ClinCapture (U.S.)
- Oracle Corporation (U.S.)
- Paraxel International Corporation (U.S.)
- eClinical Solutions LLC (U.S.)
- OmniComm Systems, Inc. (U.S.)
- CRF Health (U.S.)
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