The ePRO, ePatient Diaries, and eCOA market in Europe is expected to grow from US$ 447.8 million in 2021 to US$ 1,184.3 million by 2028; it is estimated to grow at a CAGR of 14.9% from 2021 to 2028. As per the data provided by Clinicaltrials.gov, 2016 has been a big one for clinical research. There were around 366 thousand clinical studies registered globally as of February 2021. Clinical studies are an essential part of drug development. The number of clinical studies has augmented significantly since there were just 2,119 reported in 2000. Of these, almost half are drug or biological trials (123,806), with 45,501 currently recruiting participants. At present, there are 43 therapeutics in Phase II for COVID-19. Companies engaged in the development are AstraZeneca plc; Arch Biopartners Inc.; Applied Therapeutics Inc.; Apeiron Biologics GmbH; 4D Pharma plc; and AB Science SA. Companies are collaborating with other firms to hasten the development of therapeutics and vaccines. For instance, Eli Lilly partnered with AbCellera to develop vaccines; GSK, Novartis, and MSD are working with the Bill and Melinda Gates Foundation. GSK and Sanofi are working together to develop an adjuvanted COVID-19 vaccine. However, with an increase in clinical trials and the need to be able to easily centralize data capture, as well as the need to drive down the overall cost of bringing a new drug to market, the adoption of ePRO, e-Patient Diaries, and eCOA platforms will be on rise as capturing data using eCOA solutions not only improves the quality of data, but also complements the data collection process across the study, leading to reduced risk and providing significant value. Additionally, majority of clinical trial stakeholders including sponsors, CROs and regulators consider eCOA as the most effective way to capture high-quality and more reliable data than traditional, paper-based methods. The market for ePRO, ePatient Diaries, and eCOA market is segmented into type of solution, modality, and end user.In 2020, the eCOA (Electronic Clinical Outcome Assessments) segment accounted for the Europe ePRO, ePatient diaries, and eCOA market’s largest market share.
This large share can be attributed to the advantages offered by eCOA, as eCOA uses technology such as smartphones, laptops, computers to enable patients, nurses, and doctors to consult directly about medical test results.ECOA provides highly accurate knowledge that better understands and simplifies the acceptance process for patient reviews in clinical trials.
In addition, the increasing cost for pharmaceutical manufacturers of modern overall drug development methodologies has led to their use of electronic information collection by way of paper-based processes. Data processing across eCOA networks improves the quality of the information gathered, harmonizes data systems, and gives users valuable benefits, such as data interpretation. Short-term impacts of the COVID-19 pandemic include demand changes, revision in the regulatory process, changes in the research and development process, and the shift towards telecommunication and telemedicine.Moreover, the slowdown in market growth, delay in product approval, adoption of the self-sufficient pharm-production supply chain, and changes in the trend in consumption of health-market products and ethical dilemmas could be anticipated as long-term impacts of the COVID-19 pandemic on the pharmaceutical sector in both global and local levels.
Market players in the market are launching new software platforms to boost electronic clinical trials to deal with a pandemic situation.For instance, In July 2020, Axiom Real-Time Metrics (“Axiom”), a leading provider of unified eClinical technologies and services, announced its collaboration with the University of Oxford on a large-scale clinical trial on COVID-19 preventative treatments.
These factors had a potential impact on the Europe ePRO, e-Patient Diaries, and eCOA market. The overall Europe ePRO, ePatient Diaries, and eCOA market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the Europe ePRO, ePatient Diaries, and eCOA market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe ePRO, ePatient Diaries, and eCOA market.ERT Clinical; ArisGlobal LLC; The Diary Pte.
Ltd; ICON PLC; PAREXEL INTERNATIONAL CORPORATION; Anju Software, Inc.; Kayentis; Bracket Global LLC; Dassault Systèmes SE; and CRF Health are among a few players operating in the Europe ePRO, ePatient Diaries, and eCOA market.
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