Electronic Data Capture Systems Market Growth To Be Driven By Increasing Technological Advancements In eClinical Solutions Till 2025:Grand View Research,inc.
The global electronic data capture (EDC) systems market is
expected to reach USD 1.16 billion by 2025, according to a new study by Grand
View Research, Inc. The rising demand for software solutions in clinical
trials, increasing R&D expenditure by companies in healthcare, supportive
government initiatives to boost trials, and increasing number of potential
customers implementing Electronic Data Capture (EDC) systems are some of the
key factors contributing to the market growth.
The market is growing rapidly
owing to the technological advancements in eClinical solutions and this is
anticipated to serve this industry with future growth opportunities. Furthermore,
increasing awareness pertaining to EDC solutions is predicted to fuel the
demand in near future. Moreover, government organizations such as Agency for
Healthcare Research and Quality and The Office of National Coordinator for
Health Information Technology are promoting the adoption of electronic systems
for data management. The aforementioned factors have resulted in the rising
adoption of electronic data collection by pharmaceutical companies.
Moreover, increasing adoption of
EDC systems by major pharmaceuticals to propagate clinical trials is predicted
to provide this market with lucrative growth. For instance, in May 2016,
Simbec-Orion Group selected Oracle's product, the Siebel Clinical Trial
Management System, to strengthen its development processes and to expand its
international operations & business. The system will provide efficient data
capture and speed up the trial timelines. The strategies like this are
anticipated to boost demand in coming years.
Browse full research report on Electronic Data Capture
Systems Market: http://www.grandviewresearch.com/industry-analysis/electronic-data-capture-edc-systems-market
Further Key Findings From
the Study Suggest:
- The software segment is predicted to witness
lucrative growth owing to growing adoption by large pharmaceutical companies
- The cloud-based segment is anticipated to experience
the fastest growth as it allows easy data access over remote locations and
provides larger storage space
- Phase I clinical trials segment is expected to
exhibit fastest CAGR over the forecast period as consequence of the rising
R&D expenditure on the development of novel drugs by pharmaceutical
companies
- CROs held the largest revenue share of EDC systems
owing to rising demand from major players in the medical device sector
- Asia Pacific market for EDC systems is anticipated to
witness highest growth rate owing to the presence of large number of
outsourcing firms in this region offering cost-efficient eClinical
solutions
- The market is facing intense competition as there are
many organizations that offer technologically efficient solutions for
clinical data management
- Companies are adopting strategies such as merger
& acquisition, new product development, and distribution channel
enhancement to gain competitive advantage
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/healthcare
Grand View Research has segmented the EDC systems market on
the basis of the component, delivery mode, development phase, end use, and
region:
Global EDC Systems Component Outlook (Revenue, USD
Million, 2014 - 2025)
- Software
- Services
Global EDC Systems Delivery Mode Outlook (Revenue, USD
Million, 2014 - 2025)
- Web
hosted
- Licensed
enterprise
- Cloud
based
Global EDC Systems Development Outlook (Revenue, USD
Million, 2014 - 2025)
- Phase
I
- Phase
II
- Phase
III
- Phase
IV
Global EDC Systems End-use Outlook (Revenue, USD
Million, 2014 - 2025)
- Hospitals
- CROs
- Academic
institutes
- Pharma
& Biotech Organizations
- Medical
Device Manufacturers
EDC Systems Regional Outlook (Revenue, USD Million, 2014
- 2025)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- Japan
- China
- India
- Latin
America
- Mexico
- Brazil
- MEA
- South
Africa
- Saudi
Arabia
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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