Rapidly expanding deployment of clinical trial solutions, which contributed to ~40% of the total spending on eCOA, eSource, and clinical trials in 2018, will continue to appeal a widening bandwidth of institutions through 2029, says the report.

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Spending on eCOA Set to Quadruple

The Fact.MR study opines that though the deployment of clinical trial solutions overshadowed the use of Electronic Clinical Outcome Assessment (eCOA), eSource, and EDA in 2018, the market is envisaged to witness a range of changes during the foreseeable period. Growing penetration of Bring Your Own Device (BYOD) trend in clinical trials is highly likely to pace up the use of eCOAs, such as ePROS, ClinROs, ObsROs, and PerfORs across wide range of pharmaceutical companies and research facilities.

eCOAs is envisaged to hold ~45% of the overall spending share by the end of 2029, in line with the growing use of smartphones and tablets to seamlessly collect clinical data for analysis. Additionally, reduced cost and high scalability of eCOA are the primary determinants that continue to push its adoption during clinical trials, which is envisaged to contribute significantly to the growth of the eCOA, eSource & clinical trials market.

Preview Analysis of Global eCOA, eSource & Clinical Trials Market research report Segmented By Solution Type (eCOA (ePROs, ClinROs, ObsROs, PerfOs), eSource, Clinical Trials Solutions, Electronic Data Capture), By Deployment (Licensed Enterprise, Cloud-based), By End User (Contract Research Organizations, Hospitals & Other Healthcare Facilities, Pharmaceutical/Biotechnology/Medical Devices Companies, Educational & Research Institutes), & by Region –

[URL]https://www.factmr.com/report/4042/ecoa-esource-clinical-trials-market[/URL]

Stakeholders Eyeing Opportunities through Collaborations

As the healthcare sector delves deeper into advanced technology, a large number of companies have formulated unique strategies to remain unaffected by the curve of change. Several pharmaceutical companies, research organizations and CROs have placed their focus on collaborations, while they embrace digitization to create patient-centric experiences. For instance, Signant Health has launched a partner program to collaborate with Clinical Research Organizations (CROs) that are dedicated towards improving clinical trials using patient-centric technology.

Additionally, Iqvia has recently launched a novel eCOA cloud based technology platform to quantify the patient experience, while increasing efficiency and reducing timelines at the same time.