Electronic Data Capture Systems Market Analysis

Electronic Data Capture Systems Market Analysis

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Based on delivery mode, the global EDC systems market is segmented into cloud-based (SAAS) solutions, web-hosted (on-demand) solutions, and licensed enterprise (on-premise) solutions. In the year 2022, cloud-based solutions dominated the market with a substantial share of 52.5%. The factors such as ease of accessibility, data security & compliance, and advanced feature makes cloud-based delivery mode the preferred choice for many organizations when deploying EDC systems.
 

• Also, cloud-based solutions offer the advantage of data accessibility at any given point of time and place. Furthermore, cloud-based server utilizes virtual technology and there are no capital expenses.
   
• The data can be backed up regularly, and companies only have to pay for the resources they use. Such advantage associated with cloud-based is projected to spur the segmental growth.
  
   

Based on clinical trial phase, the global EDC systems market is classified into phase I, phase II, phase III, and phase IV. The phase III segment is expected to reach USD 1.9 billion by the end of 2032. Phase 3 trials involve a significant number of participants and extensive data collection, ultimately creating demand for clinical data management solutions.
 

• EDC reduce the risk of data errors and inaccuracies that can occur with manual data entry. They employ data validation checks, range checks, and other automated features to ensure data accuracy and integrity.
   
• They also assist in the creation and management of essential regulatory documents, which is crucial in Phase 3 trials for regulatory submissions and approvals. Thus, owing to such factors, the phase III segment is expected to dominate the market throughout the forecast period.
   

Based on end-user, the global electronic data capture systems market is classified into contract research organizations (CROs), pharmaceutical & biotechnology companies, medical device companies, hospitals, and other end-users. The contract research organizations segment accounted for USD 654.7 million in 2022.
 

• The highest market share can be attributed to the growing demand for outsourcing clinical trials to various CROs, to minimize the R&D expenses by pharma & biotech companies. CROs are generally hired to accelerate the drug development process.
   
• Therefore, electronic data capture (EDC) are the most prominent eClinical solutions adopted by various CROs to manage growing data volumes. Thus, growing usage of EDC system by CROs companies is expected to boost the market growth.

North America EDC systems market is expected to grow at 9.4% during the analysis period.
 

• The strong foothold of major pharmaceutical and biotechnology companies, medical device companies and research and academic institutions boost the market growth. Also, availability of sophisticated infrastructure further drives the regional growth.
   
• Furthermore, launch of new product by eClinical solution vendors and rising funding from government is augmenting the market. Additionally, increasing clinical research activities in U.S. coupled with growing concern regarding efficient management of large and confidential data volume will increase the adoption of EDC system, thereby supplementing the market growth.