Market Research Report
Electronic Data Capture (EDC) Systems Market Analysis 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, 2014 - 2025
|Published by||Grand View Research, Inc.||Product code||490544|
|Published||Content info||90 Pages
Delivery time: 2-3 business days
|Electronic Data Capture (EDC) Systems Market Analysis 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, 2014 - 2025|
|Published: March 9, 2017||Content info: 90 Pages||
The global electronic data capture (EDC) systems market is expected to reach USD 1.16 billion by 2025, according to a new study by Grand View Research, Inc. The rising demand for software solutions in clinical trials, increasing R&D expenditure by companies in healthcare, supportive government initiatives to boost trials, and increasing number of potential customers implementing Electronic Data Capture (EDC) systems are some of the key factors contributing to the market growth.
The market is growing rapidly owing to the technological advancements in eClinical solutions and this is anticipated to serve this industry with future growth opportunities. Furthermore, increasing awareness pertaining to EDC solutions is predicted to fuel the demand in near future. Moreover, government organizations such as Agency for Healthcare Research and Quality and The Office of National Coordinator for Health Information Technology are promoting the adoption of electronic systems for data management. The aforementioned factors have resulted in the rising adoption of electronic data collection by pharmaceutical companies.
Moreover, increasing adoption of EDC systems by major pharmaceuticals to propagate clinical trials is predicted to provide this market with lucrative growth. For instance, in May 2016, Simbec-Orion Group selected Oracle's product, the Siebel Clinical Trial Management System, to strengthen its development processes and to expand its international operations & business. The system will provide efficient data capture and speed up the trial timelines. The strategies like this are anticipated to boost demand in coming years.