Electronic Data Capture (EDC) Market : Explores New Growth Opportunities By 2017 - 2025
Electronic Data Capture (EDC) leverages different systems, which slightly vary in terms of features and functionalities, to gather clinical trial data in electronic form. A software, it streamlines and stores patient data accumulated during clinical trials. Data is either procured electronically or first recorded on paper and then transcribed into the system and saved in an electronic case report form (eCRF). Some of the basic features of an electronic data capture (EDC) are eCRF designer, query management, data entry, and data export.
Contract research organizations (CROs), sponsors, and sites are increasingly making a transition to electronic data software (EDC) for clinical trials on account of the advantages it accords. Institutions can either choose to build their own systems in-house or leverage the services of an EDC vendor.
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Global Electronic Data Capture (EDC) Market: Key Trends
An electronic data capture (EDC) brings about quicker access to data, accuracy, and ensures data security with appropriate technical controls. Besides, it also brings about compliance with regulatory requirements – a factor that has majorly underpinned its demand as most clinical trials fall flat on their face because of being unable to satisfy regulatory needs that delay drugs in becoming commercially available.
Moreover, an electronic data capture (EDC) aids in upping efficiency of clinical trials because of its user-friendly navigation. It easy to locate and filter what is needed. To top it all off, an electronic data capture (EDC) comes in different price ranges to suit every budget. Plus, in the long run, it helps to save money notwithstanding the upfront investment. On account of the aforementioned unique perceived benefits, EDC systems are seeing significant uptake.
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Other factors lending support to the market are the growing complications in managing clinical information generated before, during, and after the trial and continued technological improvements in the systems.
Global Electronic Data Capture (EDC) Market: Market Potential
The global market for electronic data capture (EDC) is highly dynamic with new developments constantly reshaping the competitive contours. Some such recent developments to have rocked the market are the raising of $30 million by clinical trial software company Medrio from Questa Capital Management for building of new software programs and the extending of partnership between CROS NT and Medidata that would enable the former’s customers’ access to Medidata’s electronic data capture (EDC) solution.
The cloud-based delivery systems for electronic data capture (EDC) services are primed for healthy growth in the near future on account of soaring demand, which in turn would be stoked by the greater efficiency in different applications, namely the trial design, data collection, and monitoring and report generation such modes of delivery bring about.
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Global Telecom Managed Services Market: Regional Outlook
Geographically, the main segments of the market electronic data capture (EDC) are Europe, Asia Pacific, North America, and the Rest of the World. Of them, North America is a key region due to the high degree of awareness about the benefits of such systems and strict regulations relating to handling with clinical information. Presence of prominent pharmaceutical companies in the region is also said to be catalyzing market growth in the region.
Global Electronic Data Capture (EDC) Market: Competitive Analysis
In order to gauge the competition prevailing in the global market for electronic data capture (EDC), the report profiles companies such as Oracle Corporation; Medidata Solutions, Inc.; BioClinica; Parexel International Corporation; eClinicalSolutions; Merge Healthcare, Inc.; Openclinica, LLC., OmniComm Systems, Inc.; and Acceliant.
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