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Collision of Healthcare with Life Sciences IT Systems will Continue to Transform the Clinical Trials Market
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Despite the term patient centricity gaining currency in the industry, there is a degree of variability in a companies’ approach and strategic priorities. Frost & Sullivan sees digitization playing a critical role in transforming the clinical trial model from traditional, high-cost, and difficult-to-access centralized settings to more patient-centric and efficient distributed settings. As the clinical trial industry transitions to biomarker-based, targeted therapeutics, it demands a pivotal shift in design focus: from one directed by researchers to one driven by the needs of patients and their caregivers. Frost & Sullivan observes that leading pharmaceutical companies, in particular, are aggressively moving toward the mixed approach of physical and remote clinical trial settings to improve patient engagement and justify the value of future personalized drugs. Furthermore, increasing demand for quality data and novel endpoints demands clinical trial data management solutions to shift from fragmented point solutions that sit in silos to integrated eClinical solutions that provide a single source of truth, optimizing the cost by eliminating duplicate data entry, reducing on-site verification and source data verification rate. This entails an evolving vendor ecosystem of modular cloud-based eClinical solutions with an intuitive user interface capable of integrating all possible study and eSource data to optimize clinical trial digital workflows and data management cost and time.
The research service analyzes the 3 big themes driving clinical trial digitization and the new vendor ecosystem. The study also highlights growth opportunities, case studies of notable market developments, key trends, and investment and collaboration opportunities. Furthermore, the study provides an analysis of major companies segregated by these top 3 themes, which include:
Companies mentioned in the study are Oracle (ClinicalOne), Medidata Solutions, Science 37, THREAD Research, Evidation Health, ActiGraph, Veeva Systems, Antidote Technologies, Inc., ConsilX, 4G Clinical, CliniOps Inc, CRF, Koneska Health, Aparito, Clinerion, TrialBee, TriNetX Network, PatientsLikeMe, and Deep 6 AI.
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Author: Kamaljit Behera
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