Electronic Data Capture Systems Market Size, Share, Industry, Forecast and Outlook 2024-2031

Global Electronic Data Capture Systems Market is segmented By Delivery Mode Type (On-premise, Web & Cloud-based) By Components (Software Solutions, Services, Hardware) By End User (Hospitals, Academic Institutes, Pharma & Biotech Organizations, Others) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Report Overview

The Global Electronic Data Capture Systems Market reached US$ YY million in 2022 and is expected to reach US$ YY million by 2030, growing with a CAGR of YY% during the forecast period  2024-2031.

Electronic Data Capture (EDC) systems are a vital component of clinical research and healthcare data management. These systems are made to electronically gather, validate, and manage clinical trial data. Traditional paper-based data gathering techniques have mostly been superseded by electronic data collection (EDC) systems, which have a number of benefits including better accuracy, better data quality, quicker data entry and query resolution, and increased overall efficiency in clinical trials and research studies.

The EDC technology has evolved as concerns over data integrity due to human error and connectivity problems brought on by less reliable IT systems have vanished. The use of EDC in clinical studies has grown in popularity over the past ten years. The amount of data gathered before, during, and after clinical trials keeps expanding as the medical profession adopts new technology and advances, such as electronic record management.

Market Scope

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Market Dynamics: Drivers and Restraints

The technological advancements of EDC

Clinical trials and other studies commonly use electronic data capture (EDC) systems, which streamline the data collection procedure and increase overall effectiveness. The market for EDC Systems is expanding and developing as a result of numerous driving forces. The possibilities of EDC systems are being improved by advances in technology such as cloud computing, smartphone apps, and IoT (Internet of Things). Real-time data entry and monitoring are made possible by mobile-based EDC solutions, which improves process effectiveness.

For instance, in November 2022, Using Veeva Systems For electronic data collection (EDC), data cleaning, and reporting in clinical trials, Excelya uses Vault EDC. Faster database build cycles and no downtime while changing study design midway will be advantageous to the full-service contract research organisation (CRO). Veeva's advance products and services have revolutionised the way we handle challenging clinical studies. 

EDC systems also contribute to ensuring data quality and accuracy by lowering the possibility of human error. Clinical trials and research studies cannot be successful without accurate and trustworthy data. Many pharmaceutical and biotechnology firms contract with Contract Research Organisations (CROs) to conduct their clinical studies. For effective data management, these CROs frequently use EDC systems, which helps the market expansion.

Market Dynamics: Restraint

Though there is a strong demand for electronic data capture systems, there are a number of factors that could limit the market's growth. For instance, the configuration of the infrastructure and costs associated with software licencing, customisation, training, and EDC system deployment can be high up front. These expenses could be exorbitant for smaller organisations and research institutions with tight finances. 

Additionally, some researchers and medical professionals might not be aware of the advantages of EDC systems or might not have the training required to use them properly. For the implementation of EDC to be successful, there must be adequate training and awareness programmes. So, the aforementioned obstacles limit market growth.

Segment Analysis

The global electronic data capture systems marketis segmented based on delivery mode type, components, end user  and region.

The web and cloud-based segment from the type segment accounted for approximately 41.7% of electronic data capture systems market

Due to connected benefits including few technical challenges and remote access to data, web and cloud-based technologies are the market competitors. Scalability, lower costs, data centralization, and uptime consistency are other advantages. Cloud-based delivery systems for EDC services are anticipated to generate the most demand in the near future, depending on the present level of deployment and future growth potential. 

The reason for this exponential growth rate is that more and more applications, including the trial design phase, data gathering procedures, and monitoring & report production, are recognising its ability to offer improved efficiency. Moreover, the strategies followed by the companies helps to boost the segment growth. 

For instance, on March 15, 2023, Cloudbyz, recently introduced Cloudbyz EDC 2.0, an innovative Electronic Data Capture (EDC) platform. By providing a smooth, secure, and effective cloud platform for gathering, maintaining, and analysing clinical trial data, Cloudbyz EDC 2.0, which is intended to transform the clinical research landscape, enables researchers to provide game-changing therapies more quickly and intelligently.

Geographical Analysis

North America accounted for approximately 38.4% of the market share in 2022

Due to the developed healthcare infrastructure, the presence of important companies, the growing digitalization of clinical research, the decentralization of clinical studies, and the rising prevalence of cardiovascular diseases in the United States, North America is expected to dominate the market growth. To improve their market penetration and capabilities, major market players employ a variety of techniques.

For instance, in February 2022, The ZS disclosed that it has formed a strategic partnership with IgniteData through a supplementary multimillion-dollar investment. In order to increase the effectiveness of patient data collecting for research institutions and sponsors within the context of clinical research, the alliance will promote interoperability between electronic health records (EHR) and key research applications such as electronic data capture (EDC) systems. The collaboration will increase access to this kind of research automation globally for sponsors and health systems alike through ZS's extensive global network.

Moreover, Asia Pacific is expected to grow at the fastest rate in the next few years. This is owing to the availability of a large patient population, increasing R&D investments, outsourcing of clinical trials, and the high number of clinical trials conducted across the region.

COVID-19 Impact Analysis

There has been an increasing need for remote data collecting techniques because of limitations on in-person contacts and restricted access to healthcare facilities. For data collection without physical presence, EDC Systems, particularly those with functionality for remote monitoring and patient-reported outcomes, have become crucial. Many clinical trials were halted by the pandemic, but EDC Systems was essential in ensuring continuity.

Research activities may be maintained by more simply converting trials that were already employing EDC Systems to remote monitoring and data gathering. Digital health technology was adopted more quickly because of the pandemic. EDC systems that can interact with wearable technology and telemedicine platforms have proven to be especially useful for monitoring patients remotely and gathering real-time data.

Market Major Players

The major global players in the market include RAYLYTIC GmbH, Florence Healthcare, OpenClinica, LLC, Medidata Solutions, Sitero, Acceliant, Fountayn, Veeva Systems, Castor EDC, Clinical Ink and among others.

Key Developments

• In February 2023, a strategic partnership between Syneos Health and Equicare will enable the use of proXimity, an advanced cloud-based software platform that expedites the transfer of clinical trial subject data from various electronic health records (EHR) to the sponsor's electronic data capture systems (EDC). Syneos Health is the only fully integrated provider of biopharmaceutical solutions.
• In January 2022, in order to demonstrate its continuing commitment to the safety of customer data, Medrio, a provider of eClinical solutions including EDC systems, declared the successful completion of SOC 2 Type I Evaluation of its data management technology platform.

Why Purchase the Report?

• To visualize the global electronic data capture systems market segmentation based on delivery mode type, components, end user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of electronic data capture systems market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

The global electronic data capture systems market report would provide approximately 69 tables, 58 figures and 187 Pages.