New York, NY -- (SBWIRE) -- 06/15/2018 -- Owing to a significant number of compelling scientific, operational and regulatory reasons, the use of electronic data capture is becoming the most preferred means of collecting clinical outcome assessment. Electronic PRO data collection starts from consulting companies such as Oracle, Paraxel and others who have their core experience in designing software for the healthcare and the pharmaceutical industry. These companies in consult with the pharmaceutical or healthcare company who is willing to test severe outcomes of the new product, which is intended to launch in the mass market in the future, design a protocol, which would be integral in the study process.

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Electronic clinical outcome assessment has proven over the time to be cost effective and be benefited from saving costs by both the clinical trial sponsors. These clinical trial sponsors are usually pharma and biotechnology companies testing an orphan drug or trying a new variant of their product. Pharma industry spending on clinical trials has been witnessing a significant increase in spending on clinical trials, with clinical data management rapidly growing at an aggressive 12% YoY over the past three years. Strict regulatory norms being imposed over the industry during the period 2016-2017 are forcing drug manufacturing companies to digitalize the process of their clinical trial outcomes, which would involuntary allow software solution providers to increase their market share in this segment. Moreover, Cloud adaptations among pharmaceutical companies have witnessed a rise of 21% over the period 2011 to 2018. This shift in strategies is mainly observed due to outsourcing of clinical trials across the globe.

eCOA Market, By Type

The major types of eCOA solutions available in the market are web based, licensed and cloud based. The web-based solutions are dominating the market owing to ease of operations and availability of infrastructure. However, cloud based systems are expected to grow at a rapid rate owing to proven benefits due to adoption of cloud systems. The web-based solutions accrued for around 79.0% in 2017. The major advantages provided by the web based system are cost effective development, easy accessibility, easily customizable, improved interoperability, easy installation and maintenance, flexible core technology and adaptable to handle increasing work load.

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eCOA Market, By Application

The major applications of eCOA are hospitals, contract research organizations, academic institutes, pharma and biotech companies and medical device manufacturers. The high cost of clinical assessments has resulted in increasing demand for eCOA in contract research organizations. Hospitals are one of the major application segments within the market. The demand is driven by large number of population visiting the hospitals and the large amount of data being required to be stored in the hospitals for future access. Hospitals are incorporating electronic data capturing services to enhance and improve the patient engagement in research studies, as eCOA digitally collects the information from both patients and doctors.

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eCOA Market, By Region

North America is estimated to account for the largest share of the global ECOA Solutions market, in terms of value, in 2016. It accounted for around 51% of the overall market in 2017. Significant presence of large number of healthcare IT solution providers coupled with presence of favorable regulations in the region is benefiting market demand. However, Asia Pacific is expected to gain significant market share by 2025 owing to rise in demand in countries such as China and India. Presence of technologically advanced research centers, medical device manufacturers, universities, and hospitals coupled with improved healthcare establishments are expected to drive the new drug development activities in the coming years.

Competitive Landscape

Some of the major players in the market are IBM Watson Health; Oracle Corporation; Medidata Solutions Inc.; BioClinica; DATATRAK International, Inc.; PAREXEL International Corporation; CRF Health; ERT; eClinical Solutions; and OmniComm Systems Inc. In October 2017, Novum Pharmaceutical Research Services, a leading U.S. contract research organization, has selected TrialMaster electronic data capture (EDC) technology from OmniComm Systems, Inc., a leading global provider of clinical data management technology.

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