ELECTRONIC CLINICAL OUTCOME ASSESSMENT (ECOA) MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Electronic Clinical Outcome Assessment (eCOA) Market Size and Trends

Global electronic clinical outcome assessment (eCOA) market is estimated to be valued at USD 1.74 Bn in 2024 and is expected to reach USD 4.59 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 14.9% from 2024 to 2031.

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The electronic clinical outcome assessment (eCOA) market is expected to witness high growth over the forecast period due to the rising adoption of clinical trial digitalization solutions. eCOA solutions help in improving the quality of clinical trial data collection processes by reducing errors and streamlining workflows. They offer features such as centralized data management, remote data collection, and real-time data assessment. The COVID-19 pandemic has further accelerated the demand for digital clinical outcome assessment tools as they enable decentralized clinical trials and remote patient monitoring. The increasing R&D expenditure of pharma/biopharma companies and growing support from regulatory agencies are also contributing to the revenue opportunities in the electronic clinical outcome assessment (eCOA) market.

Market Driver – Increasing Product Launches by Key Market Players

Increasing adoption of organic growth strategies such as product launches by key market players is expected to drive the market growth over the forecast period. For instance, in December 2023, Obvio Health USA, Inc., a global digital clinical trials company, announced the launch of electronic clinical outcome assessment (eCOA) solution, seamlessly integrating advanced study design technology with scientific and clinical services to deliver more robust outcomes for trial sponsors.  

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Increasing collaborations among key market players is expected to drive the market growth over the forecast period. For instance, on February 6, 2024, Medidata, a technology company, announced a collaboration with Sanofi to harness Medidata eCOA to deploy in vaccine studies. The collaboration will use an eDiary function within eCOA to create an eDiary library specific to Sanofi’s vaccines. This library will accelerate future study set-up times, improve efficiency, and increase data quality, while ensuring patients have access to eDiaries that are easy to use.