Pharma Companies Refer eCOA for Cost-cutting

San Francisco, California, June 20, 2017: TMR Research has revealed details on the factors that currently influencing the state of demand and supply for electronic clinical outcome assessment solutions, in “Electronic Clinical Outcome Assessment (eCOA) Solutions Market – Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2017 – 2025.” eCOA solutions encompass all examinations that help assess a patient’s status in terms of their symptoms, mental state, patient functions during treatment, and the overall impact of a disease or ailment. These solutions can additionally help the medical staff evaluate whether a drug treatment is having a positive or negative impact on the patient. Electronic clinical outcome assessment solutions also comprise patient-reported outcome systems, observer-reported outcome systems, and clinician-reported outcome systems.

The primary driver propelling the global electronic clinical outcome assessment solutions market currently, is the increasing rate of adoption of these solutions by experts and companies in medical research. The Journal of Clinical Studies in 2015 stated that close to 7% of all clinical trials are making heavy use of eCOA solutions and this volume is expected to rise till 20% by the end of 2018. The growing demand for eCOA solutions in the healthcare industry key for the growth of market players over the coming years, as the number of clinical trials and drug studies intensify.

The global electronic clinical outcome assessment solutions market is also expected to be driven by the tremendous pressure big pharma players are experiencing when it comes to keeping the cost of drug trials and development to a minimum. This factor is coupled with the growing number of complications created by conventional paper-based processes and the advantages that electronic processes hold over them.

From a regional perspective, the global electronic clinical outcome assessment solutions market is currently being dominated by North America, thanks to a highly advanced healthcare infrastructure as well as the presence of some of the leading pharmaceutical companies in the world. This region holds a large number of medical devices manufacturers as well, as well as sophisticated technology and research organizations, linked together with medical universities and hospitals in the world.

The end users in the global electronic clinical outcome assessment solutions market include contact research organizations, healthcare centers, and hospitals as the leading segments. Pharmaceutical firms are pushing for the development of eCOA solutions due to the mounting pressure on them to manage and cut down on the overall costs of clinical developments and studies.

Some of the leading players in the global electronic clinical outcome assessment solutions market so far, have been OmniComm Systems, Inc., ERT Clinical, CRF Health, eClinical Solutions, BioClinica, Merge Healthcare Incorporated, Medidata Solution, Inc., Paraxel International Corporation, and Oracle Corporation.

Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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