Europe Electronic Clinical Outcome Assessment (eCOA) Market – Industry Trends and Forecast to 2030

Europe Electronic Clinical Outcome Assessment (eCOA) Market, By Product (On-Premise Solutions, Cloud Based Solutions and Web Based Solutions), Approach (Clinician Reported Outcome Assessment (CLINRO), Patient Reported Outcome Assessment (PRO), Observer Reported Outcome Assessment (OBSRO) and Performance Outcome Assessment (PERFO)), End User (Commercial Service Providers, Hospitals and Transplant Centers, Research Laboratories and Academic Institutions), Platform (Contract Research Organizations, Pharmaceutical and Biopharmaceutical Companies, Medical Device Manufacturers, Hospitals and Clinical Laboratories, Consulting Service Companies, Research and Academia and Others) – Industry Trends and Forecast to 2030.

Europe Electronic Clinical Outcome Assessment (eCOA) Market Analysis and Size

An increasing number of clinical trials, the need to improve compliance, effectively capture and manage clinical information, reduce costs, and increase R&D activities are expected to drive market growth. Kayentis, a French company that specializes in electronic clinical outcome assessment (eCOA) solutions, will receive approximately USD 8.3 million in funding in December 2020. This aided its goals of regional expansion and product development.

Data Bridge Market Research analyses that the electronic clinical outcome assessment (eCOA) market which was USD 1.42 billion in 2022, is expected to reach USD 4.75 billion by 2030, at a CAGR of 16.30% during the forecast period 2022 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Europe Electronic Clinical Outcome Assessment (eCOA) Market Scope and Segmentation

Market Definition

Electronic clinical outcome assessment (eCOA) is a system capable of measuring mental state, patient symptoms, and disease prognosis. The electronic clinical outcome assessments enable real-time visibility, which helps in enhancing protocol adherence, assuring patient safety and participation, and lowering trial risks. The state of a patient, as well as the consequences and course of a disease, are determined via electronic clinical outcome assessments (eCOA). Electronic diaries and electronic Patient Reported Outcomes are important components of eCOA platforms. These components serve as ePRO support systems.

Europe Clinical Outcome Assessment (eCOA) Market Dynamics

Drivers

• Rising burden on pharmaceutical manufacturers

New medication development techniques are increasingly relying on electronic data capture rather than paper-based procedures to reduce total costs. Data collection using electronic clinical outcome assessment platforms improves data quality, harmonises data collection practises, and provides significant value to its users, such as data analysis. Electronic data collection and analysis services eliminate paper-based records' drawbacks while increasing patient compliance. They also reduce the cost of site monitoring and eliminate the risk of data fluctuation. These solutions provide streamlined information, which helps to improve data quality by gathering data in a structured manner. The above-mentioned benefits of using electronic clinical outcome assessments are expected to boost product demand.

• Rise in clinical outcome assessments

Clinical outcome assessments (COAs) are thus being used more frequently to assess the efficacy of various chronic illness therapies. These have frequently been crucial in the regulatory approval of medicines. The addition of numerous services will also help it grow. For instance, in June 2021, Signant Health launched a novel acceleration programme that reduces study setup timelines by 50% or more without compromising clinical data quality. Thus, the increasing launch of novel programmes that benefit companies in assessing clinical trial studies is likely to increase demand for electronic clinical outcome assessment solutions, thereby boosting market growth.

Opportunities

• Rising demand for electronic clinical outcome assessment solutions

According to a study published in the American Chemical Society Pharmacology and Translational Science, 2020, new potential therapeutics for COVID-19 identified with a combined virtual and experimental screening strategy and chosen from a library of nearly 4,000 approved drugs with hydroxychloroquine (HCQ) as a reference drug were studied to screen for structural similarity against a library of almost 4,000 approved drugs with hydroxychloroquine (HCQ) as a reference drug. The study proposed zuclopenthixol, nebivolol, and amodiaquine as potential clinical trial candidates against the early stage of SARS-CoV-2 infection and remdesivir and favipiravir therapeutics as potential adjuvants in COVID-19 treatment. As a result of the increased number of clinical trials due to the repurposing of several medicines, the demand for electronic clinical outcome assessment solutions is expected to rise.

Restraints/Challenges

• High implementation costs

Data privacy issues and expensive implementation costs limit the market's expansion. Furthermore, the market is expected to be challenged by a lack of favourable reimbursement scenarios in developing economies, high custom duty imposed on medical equipment, and a lack of sufficient infrastructure in low- and middle-income nations during the forecast period of 2023-2030.

This electronic clinical outcome assessment (eCOA) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electronic clinical outcome assessment (eCOA) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Electronic Clinical Outcome Assessment (eCOA) Market

The COVID-19 pandemic hampered clinical study conduct and management in 2020. To address these issues and ensure the continuity of clinical research activities, market participants implemented various initiatives, including eClinical technologies. As a result of the pandemic, clinical trials were digitized. Many sponsors, biopharma companies, medical device companies, and contract research organisations (CROs) have begun using eClinical systems to collect, manage, and derive meaningful insights from data cost-effectively and remotely. With the help of electronic clinical outcome assessment, patient data can be collected remotely (eCOA).

The ongoing COVID-19 pandemic is a historic health threat that is wreaking havoc on communities, industries, businesses, and people all over the world. The immediate and direct potential impact of COVID-19 has already resulted in the loss of millions of lives and a significant increase in healthcare costs. Medical monitoring and safety reporting are critical because multiple potential medicines were tested prior to the development of vaccines and are also being used to treat coronavirus-induced infection. As a result, the demand for electronic clinical outcome assessment solutions has increased and is expected to rise further in the near future.

Recent Development

• In 2020, Oracle expanded its cloud system to Australia (Melbourne), Japan (Osaka), Saudi Arabia (Jeddah), the Netherlands (Amsterdam), and Canada (Montreal). The market expansion is expected to benefit from increased consumer awareness of its cloud-based applications.

• In 2020, ArisGlobal partnered with Soterius, Inc. to expand its product offering by adding LifeSphere Medical Information and LifeSphere MultiVigilance to its service-oriented technology stack.

Europe Electronic Clinical Outcome Assessment (eCOA) Market Scope

The electronic clinical outcome assessment (eCOA) market is segmented on the basis of product, delivery mode, approach, platform and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• On-Premise Solutions
• Cloud Based Solutions
• Web Based Solutions

Delivery Mode

• Web-hosted
• Cloud-based

Approach

• Patient-reported Outcome (PRO)
• Clinician-reported Outcome (CLINRO)
• Observer-reported Outcome (OBSRO)
• Performance Outcome (PERFO)

Platform

• Contract Research Organizations
• Pharmaceutical and Biopharmaceutical Companies
• Medical Device Manufacturers
• Hospitals and Clinical Laboratories
• Consulting Service Companies
• Research and Academia
• Others

End-User

• Pharmaceutical and Biopharmaceutical Companies
• Contract Research Organizations
• Other End-Users

Electronic Clinical Outcome Assessment (eCOA) Market Regional Analysis/Insights

The electronic clinical outcome assessment (eCOA) market is analyzed and market size insights and trends are provided by country, product, delivery mode, approach, platform and end-user as referenced above.

The countries covered in the electronic clinical outcome assessment (eCOA) market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.

Germany electronic clinical outcome assessment (eCOA) market is growing in the market due to significant efforts to enhance clinical trials by authorities and associations across the countries in the region. 

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The electronic clinical outcome assessment (eCOA) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for electronic clinical outcome assessment (eCOA) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the electronic clinical outcome assessment (eCOA) market. The data is available for historic period 2011-2021.

Competitive Landscape and Electronic Clinical Outcome Assessment (eCOA) Market Share Analysis

The electronic clinical outcome assessment (eCOA) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to electronic clinical outcome assessment (eCOA) market.

Some of the major players operating in the electronic clinical outcome assessment (eCOA) market are:

• IBM Corporation (U.S.)
• IQVIA (U.S.)
• Medidata Solutions, Inc. (U.S.)
• Clario (U.S.)
• ArisGlobal (U.S.)
• Signant Health (U.S.)
• TransPerfect (U.S.)
• Cloudbyz (U.S.)
• Climedo Health GmbH (Germany)
• ClinCapture (U.S.)
• Oracle Corporation (U.S.)
• Paraxel International Corporation (U.S.)
• eClinical Solutions LLC (U.S.)
• OmniComm Systems, Inc. (U.S.)
• CRF Health (U.S.)
• European Round Table (U.S.)