In a first-of-its-kind forecast for spending on electronic data capture (EDC), Health Industry Insights estimates investment in EDC solutions to increase at a 14.7 percent compound annual growth rate and total more than $3.1bn for 2006-2011. Report author Chris Connor predicts 2007 will be a tipping point as the adoption rate for EDC nearly doubles from 24.2 percent in 2005 to 45.2 percent in 2007.
"EDC is the most disruptive technology to enter clinical development since the introduction of the personal computer itself," says Chris Connor, senior research analyst at Health Industry Insights. "This industry has relied on paper-based processes for decades, and we're not seeing the scalability. Today, we're on the verge of an explosive growth for EDC, and we expect the industry will never be the same." According to Connor's report, EDC, a software-based solution designed to assist in the collection and management of clinical trial data, will see a significant rise in adoption across all stages of clinical trials. Connor's findings also estimate that by the end of this year, nearly half (45 percent) of all new clinical trials will be initiated using EDC.
Source: IDC, http://www.idc.com