Electronic Data Capture Systems Market Size, Share & Trends Analysis Report By Component, By Delivery Mode (Web Based, Licensed Enterprise, Cloud Based), By Development Phase (Phase I, II, III, IV), By End-use, And Segment Forecasts, 2018 - 2025

Report Overview

The global electronic data capture systems market size to be valued at USD 1.16 billion by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 14.4% during the forecast period. The increasing complexity in the management of clinical information generated before, during, and after the trial is expected to propel the demand for EDC system over the forecast period. The statistics published by the Center for Study of Drug Development states that more than 80% of clinical trials failed as they are unable to meet regulatory requirements, which resulted in delayed drug commercialization. This resulted in a loss of revenue for manufacturers. EDC systems help curb this problem by capturing & managing clinical information simply.

The companies are investing to implement eClinical solutions to manage clinical data because of the benefits attached to it, such as ease of use, integration of multiple functions, remote access to information, and cost-saving. The aforementioned factors are anticipated to boost the adoption of EDC in the coming years.

Electronic Data Capture Systems Market Trends

The rising demand for low-cost eClinical Solutions and increasing development & advancement in data capture techniques are driving the market. eClinical solutions provide a wide range of workflow alternatives, offering the industry a significant growth potential for clinical testing, medical equipment, and electronic health records.

Other benefits of employing Electronic Data Capture technologies comprise enhanced statistical analysis and faster compilation of scientific and technical data required for regulatory approval of clinical studies. These factors help to improve the process and hence are expected to broaden the user base for the market during the forecast period.

Furthermore, the continuous advancements in cloud computing technologies, coupled with the development of new EDC procedures by a growing majority of market players, are expected to open new opportunities for the industry. On the other hand, EDC procedure relies highly on the traditional process and requires dedicated IT staff for its maintenance and support, which is expected to restrain market growth.

Component Insights

Services for the EDC systems held the largest market share as of 2016, owing to the availability of a large number of Contract Research Organizations (CROs) offering the eClinical solutions. This is due to the increasing scrutiny from regulatory bodies to meet the complex regulatory requirements of clinical trials, which is anticipated to contribute toward the growing demand over the forecast period.

The software segment is anticipated to witness lucrative growth soon due to rising adoption by manufacturers to curb growing expenditure on data management. The associated benefits of using EDC systems, such as timesaving and simpler regulatory processes, are presumed to boost the adoption in the coming years.

Delivery Mode Insights

Depending on the current level of implementation and future growth prospects, cloud-based delivery systems for EDC services are expected to register the highest demand in near future. This exponential growth rate is a consequence of increasingly being recognized to provide greater efficiency in numerous applications, such as the trial design stage, data collection processes, and monitoring & report generation.

On the other hand, the web-based portal holds the largest share in the delivery mode segment, owing to the high data maintenance cost involved in clinical trials, which has increased dramatically. These high costs are presumed to contribute to the high reluctance of pharmaceutical companies, thus restricting them to invest in expensive studies and focus on relatively inexpensive alternatives for information management, such as web-based portals.

Development Phase Insights

In the development phase segment, Phase III held a substantial share in 2016 owing to the high requirement for EDC software to curb the overall cost and improve the efficiency of processes. On the other hand, Phase I is presumed to grow with a lucrative growth rate soon as a consequence of the high significance of these systems in predicting future outcomes and eliminating drug candidates with a low probability of success in the clinical trials.

A large number of phase I trials and complex management and analysis processes of the information acquired during various studies have been boosting the demand for the computer-assisted solutions. The currently available tools have enabled minimization of manual errors and have increased the efficiency by cutting huge costs incurred through bypassing the processes of manual sourcing, transcribing, and double data entry. Direct data and remote information capturing are the factors aiding the rising popularity of these components during the forecast period. The integration of EDC systems is expected to result in a lowering of the prices for data management, which is anticipated to boost the market in the developing regions.

End-use Insights

CROs held the largest market share and are anticipated to exhibit the fastest growth as a consequence of the rising inclination of pharmaceutical companies toward reducing overall expenditure and involved benefits, which are anticipated to be responsible for the heightened growth.

The benefits primarily include cost-effectiveness, increased efficiency of services, enhanced compatibility, and a higher focus on the core areas of development that are critical to a company's growth. Clinical information management involves clinical data processing by using a range of computer applications and support services.

Regional Insights

North America held the largest market share as of 2016 owing to the presence of higher awareness levels and stringent regulatory norms about the handling of clinical information. Besides, the presence of major pharmaceutical companies in this region is anticipated to boost the adoption of EDC systems over the forecast period.

Asia Pacific market for EDC systems is presumed to witness lucrative growth soon due to the presence of a large number of CROs offering eClinical solutions to large pharmaceutical companies.

Key Companies & Market Share Insights

Some of the key players operating in this industry are Medidata Solutions, Inc.; Oracle Corporation; BioClinica; Parexel International Corporation; Datatrak International, Inc.; Medidata Solutions, Inc.; eClinical Solutions; Merge Healthcare, Inc.; OmniComm Systems, Inc.; Acceliant; Clinipace, Inc.; and Openclinica, LLC.

Oracle Corporation and Medidata solutions are the most notable market players accounting for a considerable share of the market owing to their product offerings. Market leaders are involved in extensive research for the development of cost-effective and highly technologically advanced products. Subsequently, the introduction of such efficient products is expected to provide this industry with potential growth opportunities.

Recent Developments

• In June 2022, Oracle acquired Cerner Corporation. This acquisition is expected to aid Oracle in providing its medical professionals an easy and convenient way to access the required information over a secure cloud application

• In June 2022, Medidata extended its partnership with Novotech. This collaboration is poised to extend their services to customers in the U.S. and APAC regions

• In April 2021, Datatrack Int. launched its app ‘Datatrak Direct’, which will provide COA, eConsent, and ePRO solutions. This project aims to help users in getting a better insight into all their data to make informed decisions

Electronic Data Capture Systems Market Report Scope

Global Electronic Data Capture Systems Market Segmentation

This report forecasts revenue growth and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the Electronic Data Capture Systems market based on the component, delivery mode, development phase, end-use, and region:

• Component Outlook (Revenue, USD Million, 2014 - 2025)

  • Software

  • Services

• Delivery Mode Outlook (Revenue, USD Million, 2014 - 2025)

  • Web-hosted

  • Licensed enterprise

  • Cloud-based

• Development Phase Outlook (Revenue, USD Million, 2014 - 2025)

  • Phase I

  • Phase II

  • Phase III

  • Phase IV

• End-use Outlook (Revenue, USD Million, 2014 - 2025)

  • Hospitals

  • CROs

  • Academic institutes

  • Pharma & Biotech Organizations

  • Medical Device Manufacturers

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • The Middle East and Africa

    • South Africa

    • Saudi Arabia