Electronic Clinical Outcome Assessment (ecoa) Solutions Market Swot Analysis, Trends And Growth Fore
March 21, 2023 ⚊ 1 Min read ⚊ Views 63 ⚊ OTHER
The global Electronic Clinical Outcome Assessment (eCOA) Solution market size was USD 0.95 billion in 2020 and is expected to register a CAGR of 17.6% during the forecast period. Electronic clinical outcome assessment has proven over time to be cost-effective and be benefited from saving costs by both the clinical trial sponsors. eCOA measures overall mental state, patient symptoms, and the progression of a disease. Pharmaceutical industry spending on clinical trials has been witnessing a significant increase in spending on clinical trials, with clinical data management rapidly growing. Advancement of cloud computing in the pharmaceutical industry is also one of the crucial factors influencing market growth. However, the initial high cost of implementing eCOA solution remains a rising concern for mid-scale pharmaceutical manufacturers or sponsors of clinical trials.
