eCOA, eSource & Clinical Trials Market Growth by 2029 Explored in Latest Research
As healthcare industry looks forward to ways that can enhance the performance of today’s clinical trial models, several companies have turned to digital technologies. Numerous benefits associated with the adoption of eCOA, eSource and clinical trial solutions for clinical trial operations continue to appeal to a wider pool of organizations to embrace digitization to cater to the increasing demand for faster and precise clinical trial processes. Moreover, patient engagement, which has been fundamental within a traditional clinical trial setting, also forms the basis of a virtual trial processes.
While various eCOA, eSource & clinical trial solutions continue to enable decentralized clinical trials that are less site-centric, organizations are seamlessly accessing hard-to-reach patient populations, while allowing the study patients to perform requirements independently away from the site. Several companies are taking initiatives in this direction to capitalize the potential rise in the demand for efficient and in-time completion of clinical trials. For instance, Ochsner Health System and Pfizer have collaborated to construct a digital superhighway for clinical trials. Together the companies have employed Fast Healthcare Interoperability Resources (FHIR) to quickly transmit data from the Electronic Health Records (HER) with an aim to enhance access to experimental therapies for clinicians and patients. Collaborations continue to remain the key strategy of stakeholders to move ahead in the highly competitive and fragmented market.
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Though it’s the right time for contract research organizations, healthcare facilities, pharmaceutical companies and education & research institutions to get in the game of digitization transformation, too much dependency on technology remains a risky bet for them. While some organizations are just adopting single tools or clinical trial solutions, others have disrupted the whole value chain to skim the cream from accurate and insightful results. However, privacy issues and excessive dependency on technology continue to hinder the deployment prospects of eCOA, eSource, and clinical trial solutions. Growing penetration of Bring Your Own Device (BYOD) trend in clinical trial aisles continue to pose a threat to safe transmission of data by healthcare providers.
Lack of internet connectivity is another key factor that is likely to impede the growth of the eCOA, eSource, and clinical trials market. Also, lack of interaction between healthcare professionals and patients can lead to errors in the clinical services delivered to the patients. Such factors continue to obstruct the deployment of clinical trial solutions, and use of eCOA and eSource during clinical processes. Moreover, demanding skills required for operating clinical trial solutions, such as Clinical Trial Management Systems (CTMS), Randomization and Trial Supply Management Systems (RTMS), Clinical Data Management Systems (CDMS), and trial planning and safety solutions remain a key area of concern for organizations.
Several pharmaceutical companies have been pushing for the development of eCOA solutions, in line with the mounting pressure to manage and reduce the overall costing of clinical developments and studies. eCOA and e-patient diaries have emerged as vital and better tools than paper for patients and healthcare providers to enhance clinical care. These factors continue to shape the growth of the eCOA, eSource & clinical trials market in a positive way.
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