The global electronic clinical outcome assessment (eCOA) solutions market
is expected to reach USD 2.16 billion by 2025, according to a new report by
Grand View Research, Inc. The complexity in healthcare information management
is anticipated to fuel the demand for eCOA solutions in coming years. These
solutions deliver accurate and timely health information and reduce burden of
patients enrolled in clinical trials.
 |
U.S. eCOA solutions market revenue by delivery mode, 2014 - 2025 (USD
million)
|
eCOA measures overall mental state, patient symptoms, and the progression
of a disease. Electronic diaries and electronic Patient Reported Outcomes
(ePRO) are a part of eCOA platforms. Electronic diaries help document patient
response. These are used as support systems for ePRO. In all the applications
of clinical outcome assessment systems, the compliance rates are more than 90%,
which helps accelerate research procedures.
In addition, assessment systems help detect probable adverse conditions
in advance for patients, which is crucial for taking preventive measures to
avoid adverse effects in future. The ePRO platforms transfer real-time data
from the patients to healthcare professionals for accurate decision-making and
better evaluation of a patient’s health. Thus, the adoption of these platforms
is expected to grow in near future.
Growing adoption of software solutions during research studies, high
R&D expenditure by pharmaceutical companies, favorable government grants to
support clinical trials, and widening base of potential customers are some of
the key contributing factors for market growth.
In depth research report on Electronic Clinical Outcome
Assessment (eCOA) Solutions Market
Further Key Findings From the Study Suggest:
·
Rising
adoption of technologically advanced wearable and handheld medical devices
helps capture clinical outcomes electronically, further making the medical
information assessment easier
·
The core
advantage of web-based services is ability to access information from remote
locations using only one computer or monitoring device in healthcare settings
·
Cloud-based
solutions are anticipated to grow at an exponential rate owing to integrated
features that include flexibility, high accessibility, negligible handling
costs, and easy data backup
·
Contract
research organizations dominated the market as major pharmaceutical companies
are focused on reducing expenditure on clinical trials
·
North America
held the largest market share owing to the local presence of well-established
market players coupled with large number of ongoing research in this region
·
Asia Pacific
market is expected to show fastest growth over the forecast period owing to the
availability of a large number of contract research firms offering eCOA
platforms to large pharmaceuticals
·
The companies
are making significant investments to implement eClinical solutions in order to
manage medical information, owing to the benefits it offers
Grand View Research has segmented the eCOA solutions market on the basis
of the delivery mode, end use, and region:
eCOA Solutions Delivery Mode Outlook (Revenue,
USD Million, 2014 - 2025)
·
Web hosted
·
Licensed
enterprise
·
Cloud based
eCOA Solutions End-use Outlook (Revenue, USD
Million, 2014 - 2025)
·
Hospitals
·
CROs
·
Academic
Institutes
·
Pharma &
Biotech Organizations
·
Medical Device
Manufacturers
eCOA Solutions Regional Outlook (Revenue, USD
Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Mexico
o
Brazil
·
MEA
o
South Africa
o
Saudi Arabia
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
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