Electronic Clinical Outcome Assessment Solution Market Regional Analysis:
North American Market Insights
The North America electronic clinical outcome assessment solution market is projected to gather the highest share of about 30% over the forecast period. The main factor behind the growth of the market in this region could be owing to the surge in the conduction of clinical trials research along with the availability of advanced research centers. Furthermore, approximately 39% of the US pharmaceutical research budget, or over USD 6 billion annually, is dedicated to clinical trials. Patient recruiting is projected to cost about USD 2 billion, or close to 39% of the overall budget. Hence, the eCOA solution market is also set to rise in this region. Furthermore, this region has excellent healthcare facilities owing to the high investment made by the government which is further predicted to drive the region’s market expansion.
APAC Market Insights
The electronic clinical outcome assessment solution market is Asia Pacific is also projected to have significant growth during the forecast period. This region’s growth is set to be influenced by rising investment by MNCs and CROs to support discovery of new drugs. The APAC region is replete with potential for growth and development, and it has one of the world's quickest drug discovery innovation rates. As contrast to its Western equivalents in the US and the EU, the pharmaceutical market in Asia-Pacific is unique. The region's diverse regulatory landscape and the great disparities in the infrastructures supporting the pharmaceutical industry are key factors driving the dynamics of its industry. Since innovation differs so much between nations due to these complexities, each can carve out a unique niche for itself in the global eCOA solution market. As a result, the market in this region in booming.
