The Future of eClinical Trial Solutions - Market Forecasts to 2015, Competitive Benchmarking and Case Studies

Description

GBI Research, the leading business intelligence provider, has released its latest research new report, “The Future of eClinical Trial Solutions - Market Forecasts to 2015, Competitive Benchmarking and Cast Studies” report provides an analysis of various eClinical trial solutions that supports pharmaceutical companies to conduct clinical trials. The report provides a special emphasis on the advancement of new technologies and how it is helps pharmaceutical companies to cut down costs in clinical trials. The report initially touches upon areas where clinical trial solutions are widely utilized. The pain points and issues in each of the segments are discussed and solution overviews for these issues are provided. Various scenarios are provided to understand cost savings on adopting the solutions. Case studies are provided to all segments to understand real-time benefits of the solutions and services. The later part of the report comprises of market trends, market drivers and market challenges for vendors of eClinical trial solutions. More than 60 companies competitive benchmarking by solution offering is provided.

Adoption of eClinical Trial Solutions is Increasing Driven by Product Innovation aimed at Saving Cost in Clinical Trials

GBI Research analyzed the critical pain points that are responsible for the increase in timelines of the completion of clinical trials, the increase in costs to conduct a clinical trial, and the delay in time to the market. These pain points occur across all the various phases of clinical trials, particularly in Clinical Trial Planning, Data Capturing, Data Management, Reporting and Analysis. At present, pharmaceutical companies need to utilize advanced technologies that are available in the market. Apart from using electronic data capture, clinical data management solutions, clinical trial management solutions, eDiaries and interactive voice response systems, they should find innovative methods to integrate all these systems to optimize the process and derive the required cost saving benefits. Adaptive Clinical trials are aimed at striking a balance between the needed dose response information and the increased cost associated with it. The simulation of clinical trials allows pharmaceutical companies to compare and contrast the operating characteristics of the design options. Modeling, forecasting and tracking the clinical trial enrollment gives an opportunity for the team to identify the problems before they happen. This results in lowering the clinical trial cost and speeds up the time to regulatory submission. Those Companies wanting to reduce potential discrepancies in the process and save costs are utilizing these solutions.

Clinical Trial Supply Management System, a Source for Competitive Advantage & Cost cutting

Global Markets Direct finds that Clinical Trial supply management system is becoming as a source for competitive advantage that improvises manufacturing, packaging & the shipping processes. There has to be a supply chain strategy for transforming internal processes and combining it with supply chain best practices. For the initial forecasting, demand calculation functionality is important. The forecast has to be developed at each stages of the distribution point which is supplied to the investigators. This is important for the orders to happen in time to meet the demand requirements and also would support the just-in-time packaging and labeling. This will increase flexibility in the supply chain. The planning modules in the Clinical trial supply chain management system are also utilized to perform safety-lock planning to ensure availability levels. The minute the demand changes, the planning process also changes and helps to optimize the demand-supply scenario. This helps to cut down costs.

ePRO Solutions save considerable cost and time

eClinical Trial Solutions Market, Global, Cost Saving Scenario of ePRO Solutions, 2008

Source: Global Markets Direct

Paper diary method is a lengthier process resulting in increase in cost and time. If Pharmaceutical Companies are adopting ePRO solutions, they save considerable cost and time.

Data Analysis and Standardization is Gaining Importance, Reduces the Time of Drug to the market.

Pharmaceutical companies are continually looking for better ways to reduce the time from the end-of-study to FDA submission. Accomplishing this requires addressing key issues that cause delays in collecting, verifying and auditing the accuracy of data and converting that data into the right format for statistical analysis. Disparate data combinations from multiple sources and systems can result in errors, discrepancies and a backlog of queries that require unplanned time and resources to resolve. As pharmaceutical companies and CROs manage increasing amounts of clinical information, ensuring data integrity and complying with industry standards become more important than ever. Minimizing the time from database lock to an analysis-ready data set is crucial in getting drugs to the FDA and the market faster.

Spending on Phase III trials is Increasing and Verdicts on Increased Spending in eClinical Trial Solutions

The spending of phase 3 trials in the US was $18.5 billion compared to that of $12.9 billion in Europe in 2008. There is a substantial amount of spending allocated to eClinical trial solutions and services. This amount is expected to increase in the next few years. The increase of clinical trials in phase III and phase II is another important factor of consideration. On adopting the novel technologies, a Biopharmaceutical company can save millions in a large clinical trial.

Comprehending the latest evolving standards and following them is the biggest challenge. On utilizing eClinical trial solutions and services, a drug can reach the market much quicker than the traditional methods.