Electronics Clinical Outcome Assessment Market Is Estimated To Witness High Growth Owing To Growing Adoption Of Telehealth And Digital Therapeutics

  • Ronak Shah
  • Canada
  • January 23, 2025

The Electronics Clinical Outcome Assessment Market is estimated to be valued at US$ 1.74 Bn in 2024 and is expected to exhibit a CAGR of 14.9% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights’ The growth of the electronics clinical outcome assessment market is driven by the growing adoption of telehealth and digital therapeutics.

Telehealth uses electronic information and telecommunication technologies to support long-distance clinical healthcare, patient and professional health-related education, public health and health administration. It helps in remote monitoring of patients and enables long-distance patient consultation. Various players operating in the market are focusing on introducing digital therapeutics which incorporates clinically validated software or applications to treat medical conditions. This is augmenting the market growth.

Key Market Trends: The electronics clinical outcome assessment market is witnessing growing demand for cloud based platforms which provides more accessibility to patients as well as healthcare providers. It allows clinicians and physicians to access clinical data from any device with an internet connection. Another key trend is the increasing adoption of wearable devices which helps in continuous monitoring of vital signs and other health parameters. Wearable devices integrated with clinical platforms provides real time data transmission to physicians for online consultation as well as remote monitoring of patients.

Electronics Clinical Outcome Assessment Market Opportunity: The by delivery mode segment of the electronics clinical outcome assessment market includes web/cloud-based, on-premise, and other modes of delivery. Within this, the web/cloud-based segment is expected to hold the largest market share owing to the increasing adoption of cloud computing and web-based platforms across various industries including healthcare. The flexibility, scalability and cost-effectiveness offered by web/cloud-based platforms is driving their adoption among end users.

The by approach segment includes clinician-reported outcome, observer-reported outcome, and performance outcome approaches. Among these, the clinician-reported outcome approach is anticipated to dominate the market owing to its widespread adoption for clinical trials and other research studies. Clinician-reported outcomes help obtain the clinician’s perspective on a patient’s health condition and therapy response, which is valuable for medical research.

Key Market Takeaways: The electronics clinical outcome assessment market size was valued at USD 1.74 Bn in 2024 and is anticipated to witness a CAGR of 14.9% during the forecast period 2024-2031. The growth is attributed to the increasing R&D investments in the pharmaceutical and medical device industries.

By type, the web/cloud-based delivery mode segment is expected to hold the largest market share owing to the growing adoption of cloud-based platforms.

On the basis of approach, the clinician-reported outcome segment is expected to dominate the market due to its high usage in clinical trials and studies.

Regionally, North America is anticipated to dominate the electronics clinical outcome assessment market over the forecast period due to sophisticated healthcare infrastructure and early adoption of technologies.

Competitor Insights: Some of the prominent players operating in the electronics clinical outcome assessment market include IQVIA inc., Oracle, Parexel International Corporation, Icon plc, CRF Health, and BioClinica. These players are focusing on new product launches and partnerships to consolidate their market position.

Recent Developments: In June 2023, Apple announced plans to expand their Research app capabilities to incorporate patient-reported outcomes (PROs). The move allows biopharma sponsors to design and run clinical studies directly within the Research app by leveraging Apple’s massive consumer install base for recruitment purposes. Patients can conveniently respond to digitized PRO questionnaires on their iPhones as part of a clinical trial or real-world study. This development gives sponsors access to a huge potential participant pool and streamlines data collection. However, questions remain around data governance and whether patients understand how their personal health information may be used. More information in full report.

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