Asia Pacific Electronic Clinical Outcome Assessment (eCOA) Market By Delivery Mode (Web-hosted eCOA, Cloud-based eCOA, and Licensed enterprises eCOA), By End Use (Contract Research Organizations (CROs), Hospitals, Academic Institutes, Pharma & Biotech Companies and Medical Device Manufacturers), By Country, Industry Analysis and Forecast, 2020 - 2026
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The Asia Pacific Electronic Clinical Outcome Assessment Solution Market (eCOA)would witness market growth of 20.6% CAGR during the forecast period (2020-2026).
With an aim to gather patient data in a clinical trial, an eCOA solution is utilized. The global electronic clinical outcome assessment (eCOA) solutions market is anticipated to witness consistent & high growth over the forecast years. Some aspects including a wide consumer base globally, increasing public-private funding for clinical researchers, high regulatory compliance across industrial researchers, growing requirement for enhanced data centralization & collection for early regulatory approval are anticipated to open growth avenues for the eCOA market.
The leading players operating in the market are expected to witness various growth possibilities due to many factors such as increasing number of clinical research around developing economies, rising outsourcing of research activities by pharma companies, and changing preference from manual data interpretation to real-time data analysis. On the flip side, the growth of the eCOA market would be hampered due to the high cost of installation & scarcity of skilled professionals of accurate data interpretation.
The market growth is expected to be driven by some significant aspects including high R&D investments by the pharma giants, increasing demand for clinical trials in developing markets, and a rising number of diseases. Also, the paradigm shift from manual data interpretation to real-time data analysis would also support the growth of the eCOA market.
In addition to it, regulatory bodies are putting a high emphasis on assessing wider properties of patient well-being in order to enhance the overall well-being. Hence, clinical outcome assessments (COAs) are constantly utilized to evaluate the treatments’ influence on several chronic diseases, and in some cases, these have a considerable role in the regulatory approval of drugs. Although, the major restraints for the market growth are the huge cost of implementation & data privacy concerns.
Based on Delivery Mode, the market is segmented into Web-hosted eCOA, Cloud-based eCOA, and Licensed enterprises eCOA. Based on End Use, the market is segmented into Contract Research Organizations (CROs), Hospitals, Academic Institutes, Pharma & Biotech Companies and Medical Device Manufacturers. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The China market dominated the Asia Pacific Pharma & Biotech Companies Market by Country in 2019, thereby, achieving a market value of $17.1 Million by 2026. The Japan market is exhibiting a CAGR of 21.9% during (2020 - 2026). Additionally, The India market is anticipated to witness a CAGR of 22.7% during (2020 - 2026).
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, Dassault Systemes SE, IQVIA Holdings, Inc., Parexel International Corporation (Pamplona Capital Management), IBM Corporation (Merge Healthcare), Signant Health, ERT Clinical, eClinical Solutions LLC, Castor EDC and Anju Software, Inc. (OmniComm Systems).
Scope of the Study
Market Segments Covered in the Report:
By Delivery Mode
- Web-hosted eCOA
- Cloud-based eCOA
- Licensed enterprises eCOA
- Contract Research Organizations (CROs)
- Academic Institutes
- Pharma & Biotech Companies
- Medical Device Manufacturers
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Oracle Corporation
- Dassault Systemes SE
- IQVIA Holdings, Inc.
- Parexel International Corporation (Pamplona Capital Management)
- IBM Corporation (Merge Healthcare)
- Signant Health
- ERT Clinical
- eClinical Solutions LLC
- Castor EDC
- Anju Software, Inc. (OmniComm Systems)
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