The Latin America, Middle East and Africa Electronic Data Capture Systems Market would witness market growth of 16.4% CAGR during the forecast period (2022-2028).
EDC systems are utilized in all facets of clinical research by organizations in the life sciences, which are typically referred to as the pharmaceutical industry, medical device manufacturing, and biotechnology. However, these systems are particularly beneficial for late-stage studies, pharmacovigilance, and post-market testing for security. It is a trade-off that many pharmaceutical developers must face with the emergence of an EDC to make the production of their pharmaceutical products: the start-up is relatively large, which has huge advantages over the course of the trial.
This is the trade-off that many pharmaceutical developers must make. As a consequence of this, the economy of an EDC has to be more than the expenses of installation while the test is being conducted. In addition, businesses are concerned well about initial installation expenses as well as the ongoing maintenance costs associated with storing data on-premises. In addition, businesses must be concerned about the costs of their employees as well as problems associated with downtime.
The already present level of competition, as well as the current state of the global economy, have hastened the implementation of cost-effective techniques that restructure company models. There are a few additional factors that are going to lead to the use of electronic data capture software services that are ultimately reducing the costs incurred by enterprises. These factors include the increasing shift of businesses toward the adoption of digital transformation and the acceleration of customer experience.
The provision of medical treatment is subject to regulation at both the federal and emirate levels of government in the UAE. The United Arab Emirates (UAE's) Ministry of Health and Prevention is the primary government agency charged with overseeing the country's healthcare sector. In order to attract international investment and increase industry standards for healthcare, the government of the UAE is easing some of the restrictions that have been in place. The government of the UAE has set a goal to attract more patients seeking medical care from other countries to the country. The growth of the healthcare business in the area would be beneficial to the development of the market in the region.
The Brazil market dominated the LAMEA Electronic Data Capture Systems Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $39.7 million by 2028.The Argentina market is experiencing a CAGR of 17% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 16.1% during (2022 - 2028).
Based on Component, the market is segmented into Services and Software. Based on End User, the market is segmented into CROs, Pharmaceutical & Biotechnology Firms, Hospitals/Healthcare providers, Medical Device Firms and Others. Based on Development Phase, the market is segmented into Phase III, Phase II, Phase I and Phase IV. Based on Delivery Mode, the market is segmented into Web & Cloud-based and On-premiseBased on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Electronic Data Capture Systems Market is Projected to reach USD 2.7 Billion by 2028, at a CAGR of 13.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, IBM Corporation, Veeva Systems, Inc., IQVIA Holdings, Inc., Medidata Solutions, Inc. (Dassault Systems SE), OpenClinica, LLC, DATATRAK International, Inc., Clario, Castor EDC, and Calyx.
By Component
By End-user
By Development Phase
By Delivery Mode
By Country
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