Electronic Data Capture EDC Market Opportunities with Key Players Analysis 2025 - Oracle Corporation, Medidata Solutions Inc., Parexel International Corporation and BioClinica

The Electronic data capture (EDC) market is estimated to represent a global market of USD 348.5 million by 2016 with growth rate of 12.8%. Electronic data capture (EDC) system is web-based software that stores participant data collected in clinical studies. Traditionally, before being transcribed into the system, clinical data was recorded on paper documents 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.

Request sample copy at: http://www.reportsweb.com/inquiry&RW00011433634/sample

Advancement in technologies is considered to be the most important driving factor for the growth of EDC market. Large number of vendors are constantly engaged in developing new EDC techniques to keep up with the changes in industry. For instance, in March 2017, PAREXEL International Corporation launched Patient Sensor Solution, which helps in capturing, transmitting, storing and visualizing clinical trial information. This technique enables an end to end technology and service solution which facilitate remote collection of subject data through medical devices. Such introduction would in turn help the market to grow at rapid pace, hence drives the market growth. However, lack of skilled professional is expected to hamper the market growth to some extent. Also, lack of awareness levels in developing countries coupled with lack of cyber security laws which may lead to information leak, hampering the market growth.

The market is studies in term of component, delivery mode, clinical trials, and end-use. Component segment is divided into Software, and Services. Services for the EDC systems held the largest market share as of 2016, owing to the availability of a large number of Contract Research Organizations (CROs) offering the eClinical solutions. Strict regulatory scenario to conduct clinical studies have made many end users to adopt novel techniques to meet complex regulatory requirements, which is anticipated to contribute toward the growing demand 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.

Have any query? Enquire about report at: http://www.reportsweb.com/inquiry&RW00011433634/buying

Companies such as Oracle Corporation, Medidata Solutions Inc., Parexel International Corporation and BioClinica. Competition among key companies is expected to remain at higher level over the forecast period. Companies are adopting strategies such as entering into strategic alliances, product differentiation and expansion of product portfolio in an attempt to capture larger share of the market. Introduction of new techniques is considered to be one of the strategy. For instance, in June 2015, Merge eClinical introduced Study Connect, a new mobile app that allows eClinicalOS users the facility of executing a wide array of clinical trial management from their iOS-based mobile devices. Such types of initiatives would in turn provide healthy platform for the market growth.

In terms of clinical trials, the market is divided into Phase I, II, III, and Phase IV. End-use segment is bifurcated as Hospitals, Research Organizations, Pharma & Biotech Organizations and others. In 2016, Clinical phase III held the significant share owing to high need for clinical data management software in order to curtail the overall cost and improve process efficiency. On the other hand, phase I is projected to grow at a decent growth rate as a consequence of high significance of this stage to predict the future outcomes and eliminate drug candidates, possessing low success and probability of clinical trials.
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. India and China has become an attractive destination among multinational companies to conduct clinical trials. This is because of its lower unit cost, availability of large patient pool for clinical trials, and government supports. According to the Institutes for Studies in Industrial Development (ISID) , the global share of clinical studies in India grew from 0.9% (2008) to 5% (2013) . The ration is projected to increase at rapid pace in countries such as India, and China, as mentioned by the ISID.

Get more information at: http://www.reportsweb.com/inquiry&RW00011433634/discount

About ReportsWeb:

ReportsWeb.com is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost effective research reports and solutions from various publishers. We provide best in class customer service and our customer support team is always available to help you on your research queries.

Contact Us:
Call: +1-646-491-9876
Email: sales@reportsweb.com

This release was published on openPR.