Electronic Data Capture Systems Market Size, Share & Trends Analysis Report By Component, By Delivery Mode (Web & Cloud Based, On-premise), By Development Phase (Phase I, II, III, IV), By End-user, By Region- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The global electronic data capture systems market size was exhibited at USD 1.85 billion in 2022 and is projected to hit around USD 7.29 billion by 2032, growing at a CAGR of 14.7% during the forecast period 2023 to 2032.

Key Pointers:

• North America accounted for about 51.2% of the Electronic Data Capture (EDC) Systems market in 2022.
• Asia Pacific is projected to grow at the fastest rate in the next few years.
• In the development phase segment, Phase III held the highest share of over 52.9% in 2022
• By end-user, CROs held the largest market share of over 36% in 2022
• Hospitals/healthcare providers, medical device firms, and others also held a notable share of the market in 2022.

Electronic Data Capture Systems Market Report Scope

Electronic data capture system is web-based software utilized to store all the data of a patient collected through tests and clinical trials. The data when reported on the paper is then captured and save on electronic data capture system. The surveys say that almost 80% clinical trials fail due to rising complexity in the data management which delays drug commercialization too because of unmet regulatory needs. As clinical research facilities and companies need to work more in less time, such electronic data capture systems are a good alternative as it saves time, gives accuracy, therefore, give fast results in less time. Therefore, the demand for electronic data capture systems is increasing in pharmaceutical companies and clinical research organizations.

Electronic data capture has become one of the preferred techniques for researchers and health professionals in clinical studies. Improvements in management of information & analysis need to compile technical, medical and scientific data clearly and precisely is contributing towards the requirement of electronic data capture which in turn is fostering the growth of the global electronic data capture system market. Clinical trials, medical devices, and electronic medical records all have significant growth potential thanks to eClinical systems, which provide a wide choice of workflow alternatives. These advantages include advice on how to interpret new findings in a medical context and the elimination of data discrepancies. Advanced statistical analysis and improved compilation of technical and scientific data required for regulatory agreement on clinical studies are also advantages of employing electronic data capture systems.

These are thought to improve the whole approval process and, as a result, increase the number of people who use EDC procedures in the future. All such factors are equally contributing to the growth of the global market. The most important factor for the growth of the global electronic data capture market is the rapid advancement of technology. Furthermore, to stay up with changes in the market, a big number of providers are always developing new EDC approaches. This is likely to boost the global electronic data capture system market growth during the forecast period. However, investing in electronic data capture system can be considered as a huge investment for small scale companies and start-ups, thus, the market may witness a bit decline in such cases. Also, as there are many alternative options, such as software-as-a-service which also work similarly and support the clinical research, which may create hindrance in the growth of the global electronic data capture system market.   

In a primer need to streamline Covid-19 data collection and help in smooth process during the Covid-19, the companies tried making their reports with electronic data capture. The properties of electronic data capture system may help in Covid-19 research studies to understand the virus and help preventing future waves like it is doing now. The usage of EDC, therefore, grew during the pandemic thereby accelerating the growth of the global electronic data capture system market.

Electronic Data Capture Systems Market Segmentation