GITNUX MARKETDATA REPORT 2024

Electronic Data Capture Industry Statistics

The Electronic Data Capture industry is anticipated to experience significant growth in the coming years, driven by an increase in adoption of electronic data capture systems for clinical trials and research studies.

Highlights: Electronic Data Capture Industry Statistics

  • The EDC market is projected to reach $1.16 billion by 2026, exhibiting a CAGR of 10.7%.
  • North America held the highest market share in the global EDC market in 2018, due to progression in clinical research and regulatory framework.
  • The adoption rate of cloud-based EDC solutions is around 75% globally.
  • Asia Pacific is projected to register a CAGR of 11.0% in the EDC industry during the period between 2018-2026.
  • The professional services segment in the EDC market accounted for more than 55% of the revenue share in 2018.
  • The pharmaceutical and biopharmaceutical companies segment is anticipated to hold a significant part of the EDC market during the projected period.
  • The Software as a Service (SaaS) segment is forecasted to grow at the fastest CAGR during 2019-2026.
  • The application of EDC in Phase III trials is estimated to grow over 10.3% from 2019 to 2026.
  • Contract Research Organizations (CROs) accounted for over 40% of EDC market revenue share in 2018.
  • On-premises EDC solutions accounted for more than USD 200 million revenue in 2018.
  • The fastest-growing end-use sector in the EDC market is academic institutes, growing at a CAGR of more than 14% during 2019-2025.
  • As of 2018, the largest segment of the EDC market by component was product solutions, making up 57% of the industry.
  • As of 2019, Medidata Solutions Inc. was the leading player in the EDC market.
  • The cloud-based EDC solutions segment is projected to register a CAGR of over 12% during 2019-2025.
  • Phase II clinical trials command the largest share of the EDC market in terms of application as of 2018.
  • The use of EDC systems in diagnostics and treatment monitoring trials held a market share of over 32% in 2018.
  • The mobile health segment of the EDC market is expected to show a growth rate of 8.5% from 2020 to 2026.
  • The EDC services market is forecasted to grow at a CAGR of about 12.7% in the next 5 years.

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The Latest Electronic Data Capture Industry Statistics Explained

The EDC market is projected to reach $1.16 billion by 2026, exhibiting a CAGR of 10.7%.

The statistic indicates that the Electronic Data Capture (EDC) market is forecasted to grow to a value of $1.16 billion by the year 2026, with a Compound Annual Growth Rate (CAGR) of 10.7%. This projection suggests that the EDC market is expected to experience significant expansion over the specified period. The CAGR of 10.7% implies a steady annual growth rate for the market, highlighting the potential for sustained momentum and increasing adoption of EDC solutions in various industries such as healthcare and research. This statistic serves as a valuable insight for stakeholders and investors looking to understand and capitalize on the growing market opportunities within the EDC sector.

North America held the highest market share in the global EDC market in 2018, due to progression in clinical research and regulatory framework.

The statistic indicates that North America had the largest market share in the electronic data capture (EDC) industry worldwide in 2018. This was attributed to advancements in clinical research practices and the regulatory framework in the region. The robust progress in the field of clinical research has made North America a key hub for innovation and investment in EDC technology. Additionally, the well-established regulatory environment in North America ensures high standards of compliance and data security, making it an attractive market for EDC solutions. Overall, the combination of research advancement and regulatory support has positioned North America as a leader in the global EDC market.

The adoption rate of cloud-based EDC solutions is around 75% globally.

The statistic that the adoption rate of cloud-based Electronic Data Capture (EDC) solutions is around 75% globally implies that a significant majority of organizations across the world are opting to implement cloud-based EDC technology for their data collection and management needs. This high adoption rate suggests that the benefits of cloud-based EDC, such as improved efficiency, scalability, accessibility, and cost-effectiveness, are widely recognized and valued by organizations in various industries. The trend towards cloud-based EDC solutions reflects a growing reliance on digital technologies for streamlining data capture processes and enhancing overall research and business operations on a global scale.

Asia Pacific is projected to register a CAGR of 11.0% in the EDC industry during the period between 2018-2026.

This statistic indicates that the Asia Pacific region is projected to experience a Compound Annual Growth Rate (CAGR) of 11.0% in the Electronic Data Capture (EDC) industry from 2018 to 2026. The CAGR represents the geometric progression used to determine the average annual growth rate over a specified time frame. A CAGR of 11.0% suggests a substantial growth trajectory for the EDC industry in the Asia Pacific region, highlighting the potential for significant expansion and market opportunities during the specified period. This growth rate can serve as a key indicator for businesses and stakeholders looking to invest or operate within the EDC industry in the Asia Pacific region.

The professional services segment in the EDC market accounted for more than 55% of the revenue share in 2018.

The statement indicates that within the EDC (Electronic Data Capture) market in 2018, the professional services segment constituted over 55% of the total revenue generated. This means that a significant portion of the revenue within the EDC market came from services provided by professionals, such as consulting, implementation, customization, and training. These services are essential for helping organizations effectively integrate and optimize EDC systems to meet their specific needs. The dominance of the professional services segment suggests that companies in the EDC market heavily rely on specialized expertise and assistance to successfully adopt and leverage electronic data capture solutions, showcasing the importance of such services in driving revenue and facilitating the adoption of EDC technology.

The pharmaceutical and biopharmaceutical companies segment is anticipated to hold a significant part of the EDC market during the projected period.

This statistic suggests that within the Electronic Data Capture (EDC) market, which is used for capturing and managing clinical trial data electronically, the pharmaceutical and biopharmaceutical companies are expected to be major players and hold a substantial share. This projection likely indicates that these companies are increasingly adopting EDC technology for their clinical trials, driven by factors such as the need for more efficient data collection and analysis, adherence to regulatory requirements, and the overall shift towards digitization in the healthcare industry. The anticipated dominance of pharmaceutical and biopharmaceutical companies in the EDC market implies that they are recognizing the benefits of utilizing such technology to streamline their research processes, improve data accuracy, and ultimately accelerate the development of new medications and treatments.

The Software as a Service (SaaS) segment is forecasted to grow at the fastest CAGR during 2019-2026.

This statistic indicates that the Software as a Service (SaaS) segment is projected to experience the highest compound annual growth rate (CAGR) between the years 2019 and 2026 compared to other segments within the industry. This forecast suggests that SaaS, a model in which software is hosted on a cloud and accessed via the internet, is likely to see significant expansion and adoption over the specified period. The increasing demand for cloud-based solutions, flexibility, scalability, and cost-effectiveness of SaaS offerings are believed to be driving factors behind this anticipated growth. Businesses and consumers are expected to increasingly favor SaaS solutions for their software needs, leading to the rapid growth and development of this segment in the coming years.

The application of EDC in Phase III trials is estimated to grow over 10.3% from 2019 to 2026.

The statistic suggests that there is a projected increase of over 10.3% in the utilization of Electronic Data Capture (EDC) systems in Phase III clinical trials from 2019 to 2026. This growth trend indicates a rising preference for EDC technology among researchers and pharmaceutical companies conducting clinical trials in this phase. The increasing adoption of EDC is likely due to its efficiency in collecting, processing, and analyzing data, which can lead to more accurate and streamlined clinical trial processes. This statistic showcases the evolving landscape of clinical research towards incorporating advanced technology for improved data management and decision-making in drug development.

Contract Research Organizations (CROs) accounted for over 40% of EDC market revenue share in 2018.

This statistic indicates that Contract Research Organizations (CROs) collectively generated more than 40% of the revenue in the Electronic Data Capture (EDC) market in the year 2018. EDC involves the collection and management of clinical trial data electronically, and CROs play a significant role in conducting clinical trials on behalf of pharmaceutical and biotechnology companies. The fact that CROs accounted for such a substantial portion of the market revenue suggests that they are key players in the industry, highlighting their importance in providing services related to data capture and management for clinical research purposes.

On-premises EDC solutions accounted for more than USD 200 million revenue in 2018.

This statistic indicates that revenue generated from on-premises Electronic Data Capture (EDC) solutions exceeded USD 200 million in the year 2018. EDC solutions are commonly used in the healthcare and clinical research industries to collect, manage, and analyze data from clinical trials and studies. On-premises EDC solutions refer to software systems that are installed and operated within an organization’s own infrastructure, as opposed to cloud-based solutions. The fact that on-premises EDC solutions generated over USD 200 million in revenue in 2018 suggests a substantial market demand for these types of systems and highlights their importance in facilitating data management and analysis processes within various industries.

The fastest-growing end-use sector in the EDC market is academic institutes, growing at a CAGR of more than 14% during 2019-2025.

This statistic indicates that the academic institutes sector is experiencing rapid growth within the EDC (Electronic Data Capture) market. The Compound Annual Growth Rate (CAGR) of over 14% between 2019 and 2025 suggests a significant increase in the adoption and utilization of electronic data capture technologies within educational institutions such as universities, colleges, and research centers. This growth is likely driven by factors such as increasing digitization of data management processes, rising research activities in academia, and a greater emphasis on data accuracy and efficiency. The strong growth rate in this sector highlights a growing recognition of the benefits of EDC solutions in streamlining data collection, enhancing research outcomes, and improving overall operational efficiency within academic settings.

As of 2018, the largest segment of the EDC market by component was product solutions, making up 57% of the industry.

The statistic suggests that in 2018, the Electronic Data Capture (EDC) market was largely dominated by product solutions, which accounted for 57% of the overall industry. This indicates that a significant chunk of the market was focused on offerings such as software tools, platforms, and systems designed to collect, manage, and analyze electronic data for research, clinical trials, or other purposes. The dominance of product solutions in the EDC market highlights the importance of technology-driven solutions in data capture and underscores the reliance of various industries on electronic data management tools for efficiency, accuracy, and compliance.

As of 2019, Medidata Solutions Inc. was the leading player in the EDC market.

The statistic indicates that as of 2019, Medidata Solutions Inc. held the top position in the Electronic Data Capture (EDC) market, meaning it was the leading provider of EDC services in the industry. This suggests that Medidata Solutions Inc. had the largest market share, likely indicating a strong reputation, trust among customers, and technological capabilities in providing electronic data capture solutions for clinical trials and research. Being the dominant player in the market signifies that Medidata Solutions Inc. likely had a competitive edge over other companies offering similar services, making it a key player and influential force within the EDC market landscape in 2019.

The cloud-based EDC solutions segment is projected to register a CAGR of over 12% during 2019-2025.

This statistic indicates that the cloud-based Electronic Data Capture (EDC) solutions industry is expected to experience a Compound Annual Growth Rate (CAGR) of more than 12% between the years 2019 and 2025. The projected increase in adoption and utilization of cloud-based EDC solutions during this period suggests a growing trend towards digital data collection and management within various sectors, particularly healthcare and pharmaceuticals. This growth rate implies significant market expansion and opportunities for companies providing cloud-based EDC solutions, driven by factors such as the need for efficient data handling, real-time access to information, and cost-effective data management solutions.

Phase II clinical trials command the largest share of the EDC market in terms of application as of 2018.

This statistic indicates that Phase II clinical trials are the most common type of clinical trials utilizing Electronic Data Capture (EDC) systems as of 2018. EDC systems are used to collect, manage, and analyze clinical trial data electronically, replacing traditional paper-based methods. The prevalence of Phase II trials using EDC suggests that this phase of clinical research is particularly active and potentially represents a significant portion of the overall clinical trial market. This information is valuable for understanding trends and preferences in the pharmaceutical and biotech industries, as well as highlighting the importance of technology in advancing clinical research efficiency and data quality.

The use of EDC systems in diagnostics and treatment monitoring trials held a market share of over 32% in 2018.

The statistic indicates that Electronic Data Capture (EDC) systems were utilized in more than 32% of diagnostics and treatment monitoring trials in 2018, making them one of the most popular methods for data collection and management in clinical research. EDC systems play a crucial role in streamlining the process of data collection, allowing researchers to electronically capture, store, and analyze data from clinical trials efficiently. This high market share suggests that EDC systems are preferred by researchers due to their effectiveness in reducing errors, improving data quality, and increasing the overall efficiency of clinical trials.

The mobile health segment of the EDC market is expected to show a growth rate of 8.5% from 2020 to 2026.

The statistic indicates that the mobile health sector within the electronic data capture (EDC) market is projected to experience a growth rate of 8.5% between the years 2020 and 2026. This forecast suggests that there is a positive trend in the adoption and utilization of mobile health technologies within the EDC market. Factors contributing to this growth could include advancements in mobile technology, increased demand for remote healthcare services, and improvements in data collection and management processes. This statistic highlights the potential opportunities for innovation and expansion within the mobile health segment of the EDC market in the coming years.

The EDC services market is forecasted to grow at a CAGR of about 12.7% in the next 5 years.

The statistic indicates that the Electronic Data Capture (EDC) services market is projected to experience significant growth over the next five years, with a Compound Annual Growth Rate (CAGR) of approximately 12.7%. This forecast suggests that the market for EDC services, which involve the use of electronic systems for collecting, managing, and analyzing clinical trial data, is expected to expand rapidly. Such growth could be driven by factors such as increasing adoption of digital solutions in the healthcare industry, the emphasis on efficiency and accuracy in data collection processes, and the growing need for streamlined data management in clinical research. Overall, the forecast highlights a promising outlook for the EDC services market in the near future.

References

0. – https://www.www.fortunebusinessinsights.com

1. – https://www.www.alliedmarketresearch.com

2. – https://www.www.marketsandmarkets.com

3. – https://www.www.gminsights.com

4. – https://www.www.prnewswire.com

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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