Industry Background:
Electronic data capture (EDC) has become a preferred method for real time data capture in clinical trials. Data management is one of the main priorities of research teams and medical institutions. Due to the plenty of information in clinical trials, experts need good data capture, integration, documentation, and transfer of material. During clinical trials, research data can be captured and documented electronically or in paper forms. As data collected through pen-and-paper methods need to be transferred to enable further analysis, data might be prone to errors, low levels of readability, and limited usage. EDC, on the other hand, is a computerized system of gathering clinical data for use in human clinical trials in an electronic form. In the recent years, EDC systems have become a leading tool in research.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | IBM (United States), Fortress Medical (United States), Forte Research Systems (United States), Castor EDC (The Netherlands), Data MATRIX (United States), Medidata Solutions (United States), Dacima Software (Canada), Formedix (United Kingdom), Medrio (United States) and Repnets Ltd. (United States) |
This growth is primarily driven by Increasing Adoption Due to Easy Access to Uploaded Data and Growing Adoption of New Information Technology.
Globally, a noticeable market trend is evident Pharmacy Sector Is Adapting New Electronic-Oriented Practices
Major Players, such as IBM (United States), Fortress Medical (United States), Forte Research Systems (United States), Castor EDC (The Netherlands), Data MATRIX (United States), Medidata Solutions (United States), Dacima Software (Canada), Formedix (United Kingdom), Medrio (United States) and Repnets Ltd. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies.
Key Developments in the Market:
On July , 2022 IBM Launch announced it has acquired Databand.ai, a leading provider of data observability software that helps organizations fix issues with their data, including errors, pipeline failures and poor quality — before it impacts their bottom-line. Today's news further strengthens IBM's software portfolio across data, AI and automation to address the full spectrum of observability and helps businesses ensure that trustworthy data is being put into the right hands of the right users at the right time.
In November 2022 – Medidata, a Dassault Systèmes company, today announced plans to launch Rave Companion, an innovative, scalable, patent pending technology helping clinical trial sites save time and reduce errors in transferring EHR (electronic health record) data to the Rave EDC (electronic data capture) system.
Influencing Trend:
Pharmacy Sector Is Adapting New Electronic-Oriented Practices and Increasing Demand for Computer-Aided Software Solutions
Market Growth Drivers:
Increasing Adoption Due to Easy Access to Uploaded Data and Growing Adoption of New Information Technology
Challenges:
EDC Requires Continual Reassessment and Re-Evaluation
Restraints:
It Does Not Allow Central Data Cleaning At Point Of Entry or Traditional Manual CRF Tracking
Opportunities:
Increasing Infrastructure Development in Developing Regions and Widespread Access to the Internet
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Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Electronic Data Capture Software Market
- Analysis about New Entrants in Electronic Data Capture Software Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Electronic Data Capture Software Study Sheds Light on
The Electronic Data Capture Software Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Electronic Data Capture Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Electronic Data Capture Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.