The global eCOA, eSource & Clinical Trials Market is projected to grow at a high CAGR. Electronic Clinical Outcome Assessment (eCOA) is a method of accumulating data electronically in clinical trials. It helps in significantly increasing the quality of study data while meeting regulatory requirements. Paper-based data collection faces various challenges for the accuracy of the data used for conducting clinical trials. As the entire clinical trial process is robust and does not allow for much flexibility, organizations are obliged to follow strict protocols and the changes are tedious to execute. This has encouraged many healthcare companies and governments to conduct clinical trials in a digital way to reduce overall cost and lengthy timelines.

Top Driver: Growing Concern of Pharmaceutical Companies on Efficiency and Stringent Regulations

Clinical trials are witnessing a disruptive change as an increased number of pharmaceutical companies focus on addressing the growing concerns about efficiency. With the emerging power of digitization through eCOA, eSource, and clinical trial solutions, companies have set their focus on enhancing R&D efficiency, streamlining clinical trials, and cutting costs of lengthy processes. Moreover, the growing demand for the timely launch of drugs, healthcare solutions, and devices, coupled with the growing stringency of regulations for product approval, the market is anticipated to grow at a significant pace.

eCOA to Make Crucial Contribution to Growth of Global eCOA, eSource and Clinical Trials Market

The global eCOA, eSource and clinical trials market can be segmented on the basis of solution type into eCOA (Electronic clinical Outcome assessment), eSource, Electronic Data Capture (EDC), Clinical Trials Solutions. The eCOA segment accounted for a larger market share owing to the increasing number of clinical trials across various domains in the medical science. On the basis of deployment the market can be segmented into Licensed Enterprise (On Premise), Cloud-based (SaaS). On the basis of end use the market is segmented into Contract Research Organizations Hospitals & Other Healthcare Facilities, Pharmaceutical/Biotechnology/Medical Devices Companies, Educational & Research Institutes.

Rising Investments in Technologies to Benefit North America Market

North American countries such as the US are predicted to maximize their spending on the investment in gathering the clinical trials which can be used for having better flexibility in availing the data whenever and wherever required. This is anticipated to help the industry flourish in the coming years. Furthermore, there is a steep increase in the research and development which requires the data related to the clinical trials to be stored, and hence is the need of the hour, which would help the industry propel in the coming years.

Players to Focus on eCOA, eSource & Clinical Trials Market

The global cognitive computing market is expected to stay fragmented with the increase in the number of new entrants in the coming years. OpenClinica, LLC, CRF Health, Inc., ArisGlobal LLC, ICON plc, PAREXEL International Corporation, OmniComm Systems, Inc., Oracle Corp, PAREXEL International Corporation, Medpace Holdings, Inc. among others could be at the forefront of the competition in the global cognitive computing market.

Athenahealth: In May 2018, EHR provider athenahealth reviewed $6.9Bn acquisition offer. The company did partnership to support clinical trials recruitment has received an unsolicited acquisition offer from Elliot Management, skyrocketing the EHR provider’s stock.

Genstar Capital: In July 2018, Genstar Capital, a leading investor in healthcare technology and services companies, is pleased to announce the acquisition of CRF Health, a global provider of eCOA and eConsent solutions for the life sciences industry. As part of the transaction, CRF will be combined with Bracket, a provider of software and technology-enabled solutions utilized in clinical trials. Bracket is a portfolio company of Genstar.

Scope of the Report

By Solution Type

• eCOA (Electronic clinical Outcome assessment)
• eSource
• Electronic Data Capture (EDC)
• Clinical Trials Solutions

By Deployment

• Licensed Enterprise (On Premise)
• Cloud-based (SaaS)

By End-User

• Contract Research Organizations
• Hospitals & Other Healthcare Facilities
• Pharmaceutical/Biotechnology/Medical Devices Companies
• Educational & Research Institutes

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.