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Surging Demand For Clinical Trial Outsourcing Fuels Growth In The Electronic Data Capture Systems Market: Pivotal Factor Influencing Electronic Data Capture Systems Market Growth in 2025
Electronic Data Capture Systems Market Size
Electronic Data Capture Systems Market Size Growth Forecast: What to Expect by 2025?
In recent times, the market size for electronic data capture systems has seen quick expansion. By 2025, this market is projected to increase from $2.02 billion in 2024 to $2.34 billion, experiencing a compound annual growth rate (CAGR) of 16.1%. Factors such as regulatory compliance, initiatives to reduce costs, complexity in clinical trials, the need for real-time data access, and the worldwide spread of clinical trials have contributed to the growth experienced during the historic period.
How Will the Electronic Data Capture Systems Market Size Evolve and Grow by 2029?
Expectations are high for a rapid expansion in the electronic data capture systems market in the coming years, with a projected increase to $4.21 billion by the year 2029, which suggests a compound annual growth rate (CAGR) of 15.7%. Factors contributing to this growth over the forecast period can be linked to the increase in aging population and chronic illness, the rise in personalized medicine and precision healare, the adoption of risk-based monitoring, advancements in real-world evidence (RWE) studies, and burgeoning markets. Key trends during the forecast period encompass a greater focus on patient-centered care, the merging of artificial intelligence and machine learning, the broadening of decentralized clinical trials, the boom in wearable technology integration, and a strengthened concentration on data security and privacy.
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What Drivers Are Propelling the Growth of Electronic Data Capture Systems Market Forward?
The growth of the electronic data capture systems market is projected to be driven by the escalating demand for contract research organizations to handle clinical trials outsourcing. Essentially, clinical trial outsourcing involves enlisting third-party organizations or service providers to manage different facets of clinical trials for pharmaceutical, biotech, or medical device corporations. The need to outsource clinical trials is motivated by the cost-effectiveness, availability of expertise, global coverage, versatility, scalability, and the ability to concentrate on main competencies that contract research organizations offer. Electronic data capture systems are utilized in clinical trials to digitally gather, manage, and analyze patient data, thereby enhancing the data collection process, bolstering accuracy, and enabling real-time monitoring and assessment of trial results. For example, in October 2023, as reported by Applied Clinical Trials Online, an MJH Life Sciences company's digital platform, the usage of functional service provider outsourcing by extensive biopharma businesses is witnessing an annual growth rate of over 13%. Consequently, the burgeoning demand for clinical research organizations to handle clinical trials outsourcing is boosting the expansion of the electronic data capture systems market.
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Which Emerging Trends Are Transforming the Electronic Data Capture Systems Market in 2025?
Leading businesses in the electronic data capture systems market are prioritizing the creation of pioneering software answers like the electronic data capture (EDC) platform intended for clinical trials. Essentially, an EDC platform for clinical trials is a technological solution designed to accumulate and handle trial data proficiently, assuring data preciseness, immediate availability, and adhering to regulations. For example, in March 2023, Cloudbyz, an American cloud technology firm, rolled out its new product, Cloudbyz EDC 2.0, an evolved Electronic Data Capture platform, devised to refine clinical research procedures. The platform boosts operational efficacy, guarantees data integrity, aids regulatory compliance, and hastens the introduction of creative treatments for patients. Furthermore, Cloudbyz EDC 2.0 uncomplicates the process of data collection and management, mitigates manual inaccuracies, and aligns with global regulatory norms, including FDA 21 CFR Part 11 and GDPR.
What Are the Key Segments in the Electronic Data Capture Systems Market?
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 Healare 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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Who Are the Key Players Shaping the Electronic Data Capture Systems Market's Competitive Landscape?
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 Healare 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.
What Geographic Markets Are Powering Growth 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.
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