Electronic Data Capture (EDC) Market Size Worth $1.6 Billion By 2025 | CAGR: 12.8%
Published Date : 15 / 12 / 17 | Report Format: PDF
The global EDC market is expected to grow at growth rate of 12.8% to reach USD 1,682 million by 2025.
Electronic data capture (EDC) system is web-based software which enable to store patient’s data, collected through clinical trials. This clinical data is recorded on paper source document and then saved in an electronic case report form (eCRF). EDC systems have been used to carry out both simple and complex trials in different phases of clinical research. Clinical studies has become more complex. Companies involved in clinical research require to do more in less stipulated time period. Further, budget, compliance and accuracy also affect to the quality and speed of the clinical process. Considering all these factors, many clinical research organizations have realized the advantage of electronic data capture technique.
Research organizations are increasingly adopting new techniques of data capture to support complex clinical studies. Electronic data capture (EDC) has become one of the preferred technique of managing clinical trial data which is expected to provide healthy platform for the market growth over the forecast period. However, funding/investment is projected to hamper the market growth during the forecast period. Investing in EDC system is considered to be the huge investment for small scale or emerging companies. For these companies, it is very important to choose systems that fit into their budget and provide appropriate solution. Also, availability of alternative option such as SaaS-based software which helps in supporting the entire spectrum of clinical research, enables the interoperability and real time storage as well as access to the data also pull back the market growth over the forecast period.
The market is studies in term of component, delivery mode, clinical trials, and end-use. Component segment is divided into Software, and Services. In 2016, services segment held the largest market share due to the increasing number of clinical research organization, offering eClinical solutions, which is anticipated to contribute toward the growing demand for EDC over the forecast period. Delivery Mode is categorized as Web hosted, Licensed enterprise, and Cloud Based. Among which, web hosted is largest revenue generating segment. In terms of clinical trials, the market is divided into Phase I, Phase II, Phase III, and Phase IV. End-use segment is bifurcated as Hospitals, Research Organizations, Pharma & Biotech Organizations and others.
Regionally, the market is categorized as North America, Europe, Asia Pacific and Rest of the World. Developed regions such as North America and Europe captured largest share of the global revenue. Advancement in technologies coupled with favourable government initiatives to new drug development supported the growth. . For instance, European government has conducted European Childhood Obesity Project using Electronic Data Capture (EDC) for clinical trials in order to minimize the need for after-trial data checks. Developing regions such as Asia Pacific, and Latin America exhibits strong potential for the EDC market. Increasing number of clinical studies coupled with technological advancement have stimulated the demand for EDC techniques in these regions.
Companies such as Medidata Solutions Inc., Oracle Corporation, Parexel International Corporation and BioClinica. Competition among key companies is expected to remain at higher level over the forecast period. Companies are adopting extensive strategies such as entering into strategic alliances, product differentiation and expansion of product portfolio, aiming to capture larger share of the market.
KEY BENEFITS OF THE REPORT:
- Understanding of the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the competitive landscape of this market
- In-depth analysis of the key factors are propelling the growth of the global market
- Detailed analysis of the geographic region that will witness the strongest growth
- Granular analysis of the current market scenario and the expected market grow
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY COMPONENT
MARKET, BY DELIVERY MODE
- Web hosted
- Licensed Enterprise
- Cloud Based
MARKET, BY CLINICAL TRIALS
- Phase I
- Phase II
- Phase III
- Phase IV
MARKET, BY END USE
- Research Organizations
- Pharma & Biotech Organizations
MARKET, BY REGION
- North America
- Asia Pacific
- Rest of the World
MARKET, BY COUNTRY
- Further Breakdown of The North America Market
- Further Breakdown of The Europe Market
- Rest of Europe
- Further Breakdown of The APAC Market
- Rest of APAC
- Further Breakdown of The Rest of the World Market
- Middle East and Africa
- Latin America
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