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Electronic Data Capture Systems Market Poised for 15.7 % Growth, Set to Hit 81.8 Billion by 2029
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The electronic data capture systems market will grow from $2.02 billion in 2024 to $2.34 billion in 2025, at a CAGR of 16.1%. The growth is attributed to regulatory compliance, cost reduction initiatives, increasing clinical trial complexity, and the globalization of clinical trials.
The electronic data capture systems market will grow to $4.21 billion by 2029 at a CAGR of 15.7%, due to aging populations, chronic diseases, and personalized medicine. Trends include AI/ML integration, wearable tech, and decentralized clinical trials.
What Are the Key Drivers Behind the Growth of the Electronic Data Capture Systems Market?
The growing demand for outsourcing clinical trials to contract research organizations is expected to drive the expansion of the electronic data capture systems market in the future. Clinical trial outsourcing involves hiring external organizations to handle various parts of clinical trials for pharmaceutical, biotechnology, or medical device companies. The outsourcing demand is fueled by the cost savings, access to specialized knowledge, global presence, flexibility, scalability, and focus on core competencies that CROs provide. Electronic data capture systems are used in clinical trials to digitally collect, manage, and analyze patient data, enhancing data collection efficiency, improving precision, and enabling real-time monitoring and reporting. For example, in October 2023, Applied Clinical Trials Online, a platform owned by MJH Life Sciences, reported that large biopharma companies are experiencing over 13% annual growth in utilizing functional service provider (FSP) outsourcing. Therefore, the growing trend of outsourcing clinical trials is propelling the growth of the electronic data capture systems market.
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Who Are the Major Industry Players Fueling Electronic Data Capture Systems Market Expansion?
Major companies operating in the electronic data capture systems market report are International Business Machines Corporation (IBM); Oracle Corporation; IQVIA Inc.; Parexel International Corporation; Veeva Systems Inc.; Clario Medical Imaging; Medidata Solutions Inc.; Signant Health; Calyx International; ArisGlobal LLC; Kinapse Ltd.; Merge Healthcare Inc.; OmniComm Systems Inc.; MedNet Solutions; eClinical Solutions; BioForum Group; Acceliant Corporation; DATATRAK International Inc.; OpenClinica LLC; Castor EDC; DatStat Inc.; eResearchTechnology Inc.; Cmed Technology Ltd.; Clinerion Ltd.; Arithmos Srl.
How Is the Segmentation of the Electronic Data Capture Systems Market Defined?
The electronic data capture systems market covered in this report is segmented -
1) By Component: Software, Services
2) By Clinical Trial Phase: Phase I, Phase II, Phase III, Phase IV
3) By Delivery Mode: Cloud-Based (SAAS) Solutions, Web-Hosted (On-Demand) Solutions, Licensed Enterprise (On-Premise) Solutions
4) By End-User: Hospitals Or Healthcare providers, Contract Research Organizations, Pharmaceutical And Biotechnology Firms, Medical Device Firms, Other End-Users
Subsegments:
1) By Software: EDC Software Platforms, Cloud-Based EDC Software, Mobile EDC Software
2) By Services: Implementation Services, Consulting Services, Support And Maintenance Services, Training Services
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What Is the Leading Region in the Electronic Data Capture Systems Market?
North America was the largest region in the electronic data capture systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic data capture systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Electronic Data Capture Systems Global Market Report?
- Market Size Analysis: Analyze the Electronic Data Capture Systems Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electronic Data Capture Systems Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Electronic Data Capture Systems Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electronic Data Capture Systems Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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