Electronic Clinical Outcome Assessment Solutions Market
Electronic Clinical Outcome Assessment Solutions Market Forecasts to 2030 - Global Analysis By Type (Clinician Reported Outcome Assessment (CLINRO), Patient Reported Outcome Assessment (PRO), Observer Reported Outcome Assessment (OBSRO), Performance Outcome Assessment (PERFO) and Other Types), Delivery Mode, Component, Application, End User and By Geography
According to Stratistics MRC, the Global Electronic Clinical Outcome Assessment Solutions Market is accounted for $1.5 billion in 2023 and is expected to reach $4.8 billion by 2030 growing at a CAGR of 17.2% during the forecast period. Electronic Clinical Outcome Assessment (eCOA) solutions streamline data collection in clinical trials by digitizing patient-reported outcomes (PROs), clinician assessments, and observer-reported outcomes. These digital platforms, accessible via mobile devices or web portals, enhance data accuracy, patient engagement, and trial efficiency compared to traditional paper-based methods. eCOA solutions facilitate real-time data capture, remote monitoring, and customizable assessments tailored to specific trial protocols.
According to the 'U.S. Investments in Medical and Health Research and Development 2016-2020' report released in January 2022, federal government investment constituted one-quarter (25%) of all medical and health R&D in the U.S., totaling USD 61.5 billion, with the National Institutes of Health (NIH) accounting for 20% (USD 48.9 billion) of such investment in 2020.
Market Dynamics:
Driver:
Rising operational costs and regulatory requirements associated with clinical research studies
As operational costs associated with clinical research studies continue to rise due to factors such as increased complexity, longer study durations, and higher patient recruitment expenses, there is a growing demand for cost-efficient solutions. eCOA solutions offer a potential avenue for cost savings by streamlining data collection, reducing the need for manual data entry, minimizing site visits, and optimizing resource utilization. Organizations are increasingly adopting eCOA solutions to mitigate rising operational costs and improve overall study efficiency.
Restraint:
Lack of awareness about eCOA solutions
Electronic clinical outcome assessment solutions offer numerous advantages over traditional data collection methods, including real-time data capture, remote monitoring capabilities, and streamlined workflows. However, without awareness of these benefits, organizations may continue to operate with inefficient processes, leading to increased administrative burden, higher costs, and slower study timelines. Missed opportunities for efficiency can hinder progress in clinical research and healthcare delivery.
Opportunity:
Growing preference for digital data collection and analysis
Digital data collection and analysis streamline data management processes, leading to improved efficiency and productivity. Electronic clinical outcome assessment solutions automate tasks such as data entry, data cleaning, and data analysis, reducing administrative burden, minimizing turnaround times, and accelerating study timelines. Healthcare providers, researchers, and pharmaceutical companies can allocate resources more effectively and focus on core activities, leading to cost savings and faster research outcomes propelling the market growth.
Threat:
Cost of implementation and ongoing maintenance
Implementing and maintaining electronic clinical outcome assessment solutions requires dedicated resources, including IT infrastructure, personnel training, and ongoing support. Organizations with limited resources may struggle to allocate sufficient funds and personnel to implement and manage eCOA solutions effectively. As a result, they may face challenges in optimizing system performance, addressing technical issues, and keeping pace with evolving regulatory requirements and industry standards.
Covid-19 Impact
COVID-19 adversely impacted the conduction and management of clinical trials in 2020. However, market stakeholders implemented several measures such as the adoption of eClinical solutions to overcome these challenges and to ensure the continuity of clinical research activities. The pandemic thus helped catalyze the digitalization of clinical trials. Many sponsors, Biopharma companies, medical device firms, & CROs began adopting eClinical solutions to collect data, manage it, and draw useful insights effectively and remotely. Electronic clinical outcomes assessments (eCOAs) support the collection of patient data remotely.
The clinician reported outcome assessment (CLINRO) segment is expected to be the largest during the forecast period
The clinician reported outcome assessment (CLINRO) segment is estimated to have a lucrative growth, as clinicians play a crucial role in interpreting patient-reported outcomes and validating their clinical relevance. Clinician reported outcome assessment assessments help validate the data collected via eCOA solutions by providing clinical context and professional interpretation. This validation enhances the credibility of outcomes measured by eCOA solutions, making them more valuable to researchers, regulators, and healthcare providers.
The patient management & registries segment is expected to have the highest CAGR during the forecast period
The patient management & registries segment is anticipated to witness the highest CAGR growth during the forecast period, as they facilitate better communication between patients and healthcare providers. Through reminders, alerts, and personalized feedback, these systems encourage patient engagement and adherence to treatment plans or study protocols. Improved patient compliance leads to more reliable data collection in clinical trials, enhancing the validity of outcomes measured by electronic clinical outcome assessment solutions.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the large patient pools, outsourcing, and the flow of investment by MNCs and CROs to support clinical research and drug discovery. This is projected to enhance the market growth. India and China are the key markets for clinical research outsourcing for major pharma & biotech companies. Initiatives and acquisitions pertaining to the adoption of eClinical platforms undertaken by key end-users and market players are anticipated to boost usage in the coming years.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the presence of technologically advanced research centers, medical device manufacturers, universities, and hospitals coupled with improved healthcare establishments are expected to drive new drug development activities in the coming years. Moreover, U.S. accounted for the largest market share of North America in 2022, owing to the higher adoption levels of eClinical solutions. As a result, the EvidentIQ Group now has access to Dacima's broad service offering for end-to-end eClinical solutions which includes eCOA.
Key players in the market
Some of the key players in the Electronic Clinical Outcome Assessment Solutions Market include IBM, ArisGlobal, Clario, Clime do Health GmbH, ClinCapture, Cloudbyz, Curebase Inc, Healthentia, ICON Plc, IQVIA Inc., Kayentis, Medidata Solutions, Inc., Merative, ObvioHealth USA, Inc., Oracle Corporation, Parexel International (MA) Corporation, Signant Health, TransPerfect, WCG Clinical and YPrime, LLC
Key Developments:
In January 2024, Fortinet and IBM Cloud Collaborate to Help Clients Protect Their Workloads from Increased Cybersecurity Threats. With clients reporting that they are facing new network and application threats, it’s critical to have the right ecosystem of technology partners that can unite around a shared mission of protecting their clients from risk.
In January 2024, IBM and The Government of Spain Collaborate to Advance National AI Strategy and Build the World's Leading Spanish Language AI Models. That will allow the development of foundational models for Artificial Intelligence, native in Spanish and co-official languages.
In January 2024, ArisGlobal, an innovative life sciences technology company and creator of LifeSphere®, revealed details about its Advanced Intake powered by LifeSphere NavaX, the company’s next-generation advanced cognitive computing engine.
Types Covered:
• Clinician Reported Outcome Assessment (CLINRO)
• Patient Reported Outcome Assessment (PRO)
• Observer Reported Outcome Assessment (OBSRO)
• Performance Outcome Assessment (PERFO)
• Other Types
Delivery Modes Covered:
• On-Premise
• Web & Cloud Hosted
• Hybrid Model
Components Covered:
• Services
• Software
• Wearables
• Mobile Devices
• Other Components
Applications Covered:
• Clinical Trials
• Observational Studies & Real-World Evidence (RWE) Generation
• Patient Management & Registries
• Other Applications
End Users Covered:
• Hospitals & Healthcare Providers
• Consulting Service Companies
• Government Organizations
• Academic & Research Institutes
• Contract Research Organizations (CROs)
• Pharmaceutical & Biotechnology Companies
• Medtech Companies
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Electronic Clinical Outcome Assessment Solutions Market, By Type
5.1 Introduction
5.2 Clinician Reported Outcome Assessment (CLINRO)
5.3 Patient Reported Outcome Assessment (PRO)
5.4 Observer Reported Outcome Assessment (OBSRO)
5.5 Performance Outcome Assessment (PERFO)
5.6 Other Types
6 Global Electronic Clinical Outcome Assessment Solutions Market, By Delivery Mode
6.1 Introduction
6.2 On-Premise
6.3 Web & Cloud Hosted
6.4 Hybrid Model
7 Global Electronic Clinical Outcome Assessment Solutions Market, By Component
7.1 Introduction
7.2 Services
7.3 Software
7.4 Wearables
7.5 Mobile Devices
7.6 Other Components
8 Global Electronic Clinical Outcome Assessment Solutions Market, By Application
8.1 Introduction
8.2 Clinical Trials
8.3 Observational Studies & Real-World Evidence (RWE) Generation
8.4 Patient Management & Registeries
8.5 Other Applications
9 Global Electronic Clinical Outcome Assessment Solutions Market, By End User
9.1 Introduction
9.2 Hospitals & Healthcare Providers
9.3 Consulting Service Companies
9.4 Government Organizations
9.5 Academic & Research Institutes
9.6 Contract Research Organizations (CROs)
9.7 Pharmaceutical & Biotechnology Companies
9.8 Medtech Companies
9.9 Other End Users
10 Global Electronic Clinical Outcome Assessment Solutions Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 IBM
12.2 ArisGlobal
12.3 Clario
12.4 Clime do Health GmbH
12.5 ClinCapture
12.6 Cloudbyz
12.7 Curebase Inc.
12.8 Healthentia
12.9 ICON Plc
12.10 IQVIA Inc.
12.11 Kayentis
12.12 Medidata Solutions, Inc.
12.13 Merative
12.14 ObvioHealth USA, Inc.
12.15 Oracle Corporation
12.16 Parexel International (MA) Corporation
12.17 Signant Health
12.18 TransPerfect
12.19 WCG Clinical
12.20 YPrime, LLC
List of Tables
1 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Region (2021-2030) ($MN)
2 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Type (2021-2030) ($MN)
3 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Clinician Reported Outcome Assessment (CLINRO) (2021-2030) ($MN)
4 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Patient Reported Outcome Assessment (PRO) (2021-2030) ($MN)
5 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Observer Reported Outcome Assessment (OBSRO) (2021-2030) ($MN)
6 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Performance Outcome Assessment (PERFO) (2021-2030) ($MN)
7 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Other Types (2021-2030) ($MN)
8 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Delivery Mode (2021-2030) ($MN)
9 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By On-Premise (2021-2030) ($MN)
10 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Web & Cloud Hosted (2021-2030) ($MN)
11 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Hybrid Model (2021-2030) ($MN)
12 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Component (2021-2030) ($MN)
13 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Services (2021-2030) ($MN)
14 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Software (2021-2030) ($MN)
15 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Wearables (2021-2030) ($MN)
16 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Mobile Devices (2021-2030) ($MN)
17 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Other Components (2021-2030) ($MN)
18 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Application (2021-2030) ($MN)
19 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Clinical Trials (2021-2030) ($MN)
20 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Observational Studies & Real-World Evidence (RWE) Generation (2021-2030) ($MN)
21 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Patient Management & Registeries (2021-2030) ($MN)
22 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Other Applications (2021-2030) ($MN)
23 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By End User (2021-2030) ($MN)
24 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Hospitals & Healthcare Providers (2021-2030) ($MN)
25 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Consulting Service Companies (2021-2030) ($MN)
26 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Government Organizations (2021-2030) ($MN)
27 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Academic & Research Institutes (2021-2030) ($MN)
28 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Contract Research Organizations (CROs) (2021-2030) ($MN)
29 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Pharmaceutical & Biotechnology Companies (2021-2030) ($MN)
30 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Medtech Companies (2021-2030) ($MN)
31 Global Electronic Clinical Outcome Assessment Solutions Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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