The Asia Pacific Electronic Data Capture Systems Market would witness market growth of 14.8% CAGR during the forecast period (2022-2028).
EDC has the potential to both improve the precision of the data and shorten the amount of time needed to gather it for research on pharmaceuticals and medical equipment. When it comes to adopting an EDC system to assist their drug development, many drug researchers discover that there is a rather high start-up procedure, which is then followed by large advantages throughout the course of the trial.
This is the trade-off that they confront. Therefore, in order for an EDC to be cost-effective, the total amount of money saved throughout the course of the trial should be more than the initial investment required to set it up. The conventional and relatively tedious procedure of handling clinical trial data is being replaced with an electronic system as a result of electronic data capture (EDC) software.
The primary function of EDC software is to simplify the processes of data gathering, review, and processing for clinical trials. EDC software is an essential component of clinical trial management software; in fact, some CTMS packages even have integrated EDC capabilities. The use of EDC software may increase a company's capacity to maintain regulatory compliance, as well as the quality of the data collected and the speed with which studies are conducted.
China has one of the populations that is becoming older at one of the quickest rates in the world. It is anticipated that by the year 2040, the proportion of China's population that is over 60 years old will reach 28 percent, thanks to rising life expectancy and falling birth rates. This enormous demographic shift presents many new challenges and opportunities for public health and socioeconomic development; in particular, the advancement of an integrated system that appeals to the health and social requirements of older people, with comparable access to health care regardless of geographic area, is one of the most important of these new challenges and opportunities.
The China market dominated the Asia Pacific Electronic Data Capture Systems Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $183.1 million by 2028.The Japan market is estimated to grow a CAGR of 14.1% during (2022 - 2028). Additionally, The India market would experience a CAGR of 15.5% during (2022 - 2028).
Based on Component, the market is segmented into Services and Software. Based on End User, the market is segmented into CROs, Pharmaceutical & Biotechnology Firms, Hospitals/Healthcare providers, Medical Device Firms and Others. Based on Development Phase, the market is segmented into Phase III, Phase II, Phase I and Phase IV. Based on Delivery Mode, the market is segmented into Web & Cloud-based and On-premise. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Electronic Data Capture Systems Market is Projected to reach USD 2.7 Billion by 2028, at a CAGR of 13.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, IBM Corporation, Veeva Systems, Inc., IQVIA Holdings, Inc., Medidata Solutions, Inc. (Dassault Systems SE), OpenClinica, LLC, DATATRAK International, Inc., Clario, Castor EDC, and Calyx.
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