Electronic Data Capture Systems Global Market Report 2024

The electronic data capture systems market size has grown rapidly in recent years. It will grow from $1.75 billion in 2023 to $2.02 billion in 2024 at a compound annual growth rate (CAGR) of 15.5%. The expansion observed in the historical period can be attributed to several factors, including regulatory compliance efforts, initiatives aimed at reducing costs, the escalating complexity of clinical trials, a heightened demand for real-time access to data, and the globalization of clinical trials.

The electronic data capture systems market size is expected to see rapid growth in the next few years. It will grow to $3.64 billion in 2028 at a compound annual growth rate (CAGR) of 15.8%. The projected growth in the forecast period can be attributed to several factors, including the aging population and the prevalence of chronic diseases, the advancement of personalized medicine and precision healthcare, the adoption of risk-based monitoring practices, the expansion of real-world evidence (RWE) studies, and the growth of emerging markets. Major trends anticipated in the forecast period include an increased emphasis on patient-centric approaches, the integration of artificial intelligence and machine learning technologies, the expansion of decentralized clinical trials, the integration of wearable technology, and an enhanced focus on data security and privacy measures.

The increasing trend towards outsourcing clinical trials to contract research organizations (CROs) is poised to drive the growth of the electronic data capture systems market in the foreseeable future. Clinical trial outsourcing involves the delegation of various trial aspects to external service providers by pharmaceutical, biotechnology, or medical device firms. This preference for outsourcing is driven by the cost-effectiveness, access to specialized expertise, global reach, flexibility, scalability, and the ability to focus on core competencies offered by CROs. Electronic data capture systems play a crucial role in clinical trials by digitally collecting, managing, and analyzing patient data, thus streamlining the data collection process, enhancing accuracy, and enabling real-time monitoring and reporting of trial outcomes. For instance, in October 2023, according to Applied Clinical Trials Online, large biopharmaceutical companies are witnessing annual growth of over 13% in the utilization of functional service provider (FSP) outsourcing. Hence, the increasing demand for outsourcing clinical trials to CROs is a driving force behind the growth of the electronic data capture systems market.

Key players in the electronic data capture systems market are focused on innovating software solutions such as Virtual Data Capture (VDC) to gain a competitive advantage. VDC is a software platform utilized in clinical trials and research studies to digitally collect, manage, and analyze data remotely from participants or sites. For example, in January 2021, ClinCapture Inc., a US-based software company, introduced Virtual Data Capture (VDC), an application designed to facilitate decentralized and remote trials with minimal in-person patient contact. This software aims to expedite clinical trials by leveraging advanced software modules to accelerate trial planning, execution, and management. With features like electronic Patient Reported Outcomes (ePRO), electronic Consent (eConsent), and electronic Clinical Outcomes Assessment (eCOA), VDC utilizes electronic Source records (eSource) technology to streamline data collection and enhance efficiency, potentially expediting the delivery of new treatments and ultimately saving lives.

In June 2022, Greenlight Guru, a US-based software company, completed the acquisition of SMART-TRIAL for an undisclosed sum. This acquisition significantly bolstered Greenlight Guru's platform capabilities, offering a comprehensive solution for MedTech companies to streamline clinical data management and solidify its leadership in MedTech Lifecycle Excellence. SMART-TRIAL, based in Denmark, specializes in electronic data capture platform solutions.

Major companies operating in the electronic data capture systems market are International Business Machines Corporation (IBM), Oracle Corporation, IQVIA Inc., Parexel International Corporation, Veeva Systems Inc., Clario Medical Imaging, Medidata Solutions Inc., Signant Health, Calyx International, ArisGlobal LLC, Kinapse Ltd., Merge Healthcare Inc., OmniComm Systems Inc., MedNet Solutions, eClinical Solutions, BioForum Group, Acceliant Corporation, DATATRAK International Inc., OpenClinica LLC, Castor EDC, DatStat Inc., eResearchTechnology Inc., Cmed Technology Ltd., Clinerion Ltd., Arithmos Srl.

North America was the largest region in the electronic data capture systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic data capture systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electronic data capture systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Electronic data capture systems (EDC) are computerized platforms crafted to electronically gather, authenticate, and oversee clinical trial data. These systems streamline the data collection process, diminish errors, and enhance data precision, consequently expediting the generation of dependable clinical trial outcomes. By enabling researchers to conduct studies more effectively, electronic data capture systems (EDC) play a pivotal role in advancing the development of novel treatments and therapies.

The primary components of electronic data capture systems encompass software and services. Electronic data capture (EDC) system software denotes a digital solution employed in clinical research to electronically gather, manage, and archive data from clinical trials. It facilitates the capture of data across phases I through IV of clinical trials and offers delivery options including cloud-based (SaaS) solutions, web-hosted (on-demand) solutions, and licensed enterprise (on-premise) solutions tailored for utilization by hospitals or healthcare providers, contract research organizations, pharmaceutical and biotechnology firms, medical device firms, and other end-users.

The electronic data capture systems market research report is one of a series of new reports that provides electronic data capture systems market statistics, including electronic data capture systems industry global market size, regional shares, competitors with an electronic data capture systems market share, detailed electronic data capture systems market segments, market trends and opportunities, and any further data you may need to thrive in the electronic data capture systems industry. This electronic data capture systems market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The electronic data capture systems market consists of revenues earned by entities by providing services such as cloud services, data management services, data hosting and security services. The market value includes the value of related goods sold by the service provider or included within the service offering. The electronic data capture systems market also includes sales of tablets and mobiles devices, barcode scanners, biometric devices and wearable devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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