eCOA Solution Market Trends

Growth Drivers

• Surge in Shift from Paper Based Clinical Trials to Electronic Data Collection Strategy - An online platform, electronic data capturing (EDC) is employed to gather and retain data from clinical studies. It is a substitute to the paper-based data capture (PDC) technique, in which the doctors distribute a paper-based questionnaire to trial participants, requesting them to fill it out. The comparison's findings show that both the paper-based data capture (PDC) and electronic data capture (EDC) systems yield greater benefits. However, it is further indicating that the practical shift towards electronic data capture (EDC) among clinicians and other researchers involved in clinical trials is a result of data capture through electronic means.
• Rising Adoption of Cloud in Healthcare - Cloud has shown greater benefits in various industries and further, it has also paced its importance in the healthcare sector. Hence, its need is also growing in eCOA solution. Using a cloud-based eCOA system, it's possible to digitally gather high-quality data for the clinical trial in a decentralized, remote manner and analyze it immediately.
• Growth in Adoption of Smartphones - Over 5 billion individuals use smartphones around the globe as of 2023, which corresponds to approximately 84% of people on the planet owning a smartphone. Therefore, the demand for eCOA solutions is also set to grow. As mobile technologies keep improving, smartphones are becoming more essential tools for collecting vital data from clinical trial participants. Bring-your-own-device (BYOD) trials, in which patients use their own cell phones to provide patient-reported outcomes data, have garnered a lot of attention in recent years due to their advantages. Furthermore, it reduces the direct contact with patients in case of viral infections. 

Challenges

• Lack of Training Among Personnel - Getting respondents to fill out electronic questionnaires presents a number of challenges related to user engagement, data quality assurance, and technological unfamiliarity. Additionally, it's possible that some respondents lacked technological proficiency, which made using electronic platforms difficult. The equipment or software needed to complete electronic questionnaires may be challenging for some people to comprehend, especially elderly individuals or those with low levels of computer literacy. This may lead to mistakes, insufficient answers, or discomfort, which could have an effect on the precision and dependability of the information gathered. As a result, the eCOA solution market growth on account of this factor is set to impede.
• Concern Regarding Data Security - Data security is an important issue for healthcare organizations. Any attempt on the part of a business to reduce expenses must not compromise safety. The expense of repairing the breach might quickly wipe out any savings, which could have a negative impact on an organization's finances and reputation. Hence, this factor could hinder the adoption of eCOA solution.
• Lack of High Investment for the Adoption of eCOA solution in developing region