Global ePRO, E-Patient Diaries and eCOA Market: Overview
Technological advancements in the healthcare sector have resulted in the adoption of new technologies for clinical trials. Some of these technologies include Electronic Clinical Outcome Assessments (eCOA) and Electronic Patient Diaries (E-Patient Diaries). eCOA uses advanced mobile technology such as smartphones, tablets, and personal computers to allow patients, clinicians, and their caregivers to directly report outcomes. eCOA generates highly accurate data that allows for a better understanding of the patient experience in clinical trials. Electronic patient diaries is an electronic diary or tool that is used in clinical trials or in disease treatment to either evaluate the patient’s condition or to measure treatment compliance. A new research report by Persistence Market Research provides an overview of the ePRO, e-patient diaries and eCOA market. The report is titled ‘ePRO, E-Patient Diaries and eCOA Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025’. According to the research forecast in the report, the global market is expected hold a value of just under US$ 958 Mn in 2017, and is expected to reach a value of about US$ 2,986 Mn in 2025, growing at an exponential CAGR of 15.3%.
Global ePRO, E-Patient Diaries and eCOA Market: Dynamics
There are a lot of factors that have helped boost revenue growth of the global ePRO, e-patient diaries and eCOA market. One of the main factors is the boom in technological advancements in the healthcare sector and adoption of mobile technologies. The use of electronic devices to collect clinical report outcomes has helped the market grow at a higher pace.
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However there are some restraints that are limiting the growth of the global market. As these technologies require internet connectivity to work perfectly, there are severe limitations in the scope of use. Also, in many places people are not much aware about these advanced technologies and clinics are faced with the issue of finding skilled professionals with the required technical know-how.
Global ePRO, E-Patient Diaries and eCOA Market: Segmental Highlights
This research report has systematically bifurcated the market into different segments thereby simplifying the analysis of the global ePRO, e-patient diaries and eCOA market. The segmentation is done on the basis of type of solution, end user, modality type, and region.
The regional markets analyzed in the report include North America, Latin America, Europe, APAC and MEA. Among these, North America is expected to dominate the global market in terms of value during the forecast period. However, Asia Pacific is projected to witness the highest CAGR of 16.6% during the study period.
In terms of solution type, the market is dominated by the eCOA segment with a market valuation of just under US$ 636 Mn in 2017. The e-patient diaries segment is expected to hold a market value of about US$ 323 Mn in 2017.
On the basis of modality type, the market is dominated by the mobile devices segment, which is expected to reach a market value of around US$ 1,578 Mn by the end of 2025.
Clinical trial sponsors segment dominates the segments on the basis of end user. This segment is expected to grow at a CAGR of 16.2% during the forecast period.
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Global ePRO, E-Patient Diaries and eCOA Market: Competitive Scenario
There are a lot of new entrants in the business as well as some top companies already ruling the global market for ePRO, e-patient diaries and eCOA. Some of the key players mentioned in the report are Bracket Global LLC, Parexel International Corporation, Kayentis, SAS, Medidata Solutions, Inc., ArisGlobal LLC, CRF Health, ERT Clinical, and ICON plc