Electronic Data Capture (EDC) Market to Enjoy Explosive Growth of 12.8% during 2017-2025 | Top Vendors; Medidata Solutions Inc., Oracle Corporation, Parexel International Corporation and BioClinica

AnalystView Market Insights recently introduced in-depth study on Global Electronic Data Capture (EDC) Market, describing about its component, delivery modes, clinical trials and end-use industries which elaborates market outlook and status to 2025.

According to this study, by the end of 2025, global Electronic Data Capture (EDC) market is expected to reach USD 1.7 billion by 2025, expanding at CAGR of 12.8%. This proposed study provides comprehensive analysis on EDC market based on its growth potential, market drivers, barriers, future opportunities, key players’ market strategies and detailed qualitative analysis for industry segments. Strategic analyses such as Porter’s five forces, PEST analysis, leading companies’ market share (value %), and value chain analysis will also be included which will help you to take strategic decision with respect to this market.

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.

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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.

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Global Electronic Data Capture Market: Snapshot

Market, by Component
Software
Services
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
Hospitals
Research Organizations
Pharma & Biotech Organizations
Others

Market, by Region
North America (U.S. and Canada)
Europe (France and Germany)
Asia Pacific (India and China)
Middle East and Africa
Latin America
Rest of the World

Key players profiled in this report with special attention on competitive landscape includes, (can be further customized to include additional 10 profiles of companies):
Medidata Solutions Inc.
Oracle Corporation
Parexel International Corporation
BioClinica

USP of our key vendor analysis:
-Well-designed strategic framework design for these key players will help to understand the market movement including regional expansion, mergers & acquisitions, and new product developments
-Thorough SWOT i.e. Strength, Weakness, Opportunities and Threat for individual company profiling is analyzed in order to present a detailed market opportunity assessment.

Key benefits of the report:
• The report presents a macro and micro-level outlook regarding the industry. Thus, it becomes easy for our clients to perceive the business landscape and take a glimpse of their own standing in it.
• A thorough analysis of relevant statistical data to estimate the market paradigms
• Exceptional understanding of region and country-specific markets. The report will answer some of the toughest questions regarding the market shares, sizes, forecasts segmentations, and growth specific to the countries.
• Well-designed strategic framework analyzes the market movements including regional expansion, mergers & acquisitions, and new product developments

Research Methodology:
- Preliminary Data Mining: Secondary Research, Paid Databases, Primary Research
- Data Synthesis & Analysis: Top-Down Approach, Bottom-Up Approach, Supply Side and Demand Side
- Market Formulation: Market Dynamics, Total Addressable Market and Machine Learning Technique
- Data Verification: Quality Assurance and Reach a Conclusion

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