Veeva MedTech: Transforming Clinical Trials in the Medical Device Industry
The medical technology sector is undergoing a significant transformation, largely due to the strategic innovations introduced by Veeva Systems. Recently, it was announced that more than 50 medical device companies, including 11 of the top 20 firms in the industry, have embraced Veeva's Clinical Platform. This shift aims to streamline and optimize clinical trials for medical devices and diagnostics amidst increasing regulatory demands and evolving market conditions.
Veeva Systems (NYSE: VEEV) has become a cornerstone in the medical technology landscape by providing advanced solutions that allow companies to enhance their efficiency and speed in conducting clinical studies. As organizations face heightened regulatory pressures and the complexities of today’s healthcare environment, they are phasing out outdated legacy systems in favor of modern, interconnected platforms offered by Veeva MedTech.
The adoption of Veeva's Clinical applications has empowered various companies to scale their clinical operations, ensuring compliance with local, regional, and global regulations. Notably, Veeva's Electronic Data Capture (EDC) has enabled participating firms to accelerate study creation by an impressive 50%, while the implementation of Veeva's electronic Trial Master File (eTMF) has reportedly reduced instances of duplicate documentation by 80%.
Kevin Liang, Vice President of Clinical Strategy at Veeva MedTech, expressed enthusiasm about collaborating with the industry, noting, "It's exciting to work with the industry that is turning to Veeva MedTech for a complete and interconnected infrastructure for clinical studies involving medical devices and diagnostics. We are partnering with leading medical technology companies to enhance study execution, collaboration, and innovation, ultimately delivering life-changing products to patients faster."
Testimonies from various industry leaders underline the effectiveness of Veeva's technology. Leianne Ebert, Head of Clinical Data Operations at Alcon, highlighted the company's collaboration with Veeva EDC to refine their global library and develop reusable standards, leading to a remarkable 50% increase in standardization over one year.
Kimberly Dorsch, Vice President of Global Clinical Affairs at LifeNet Health, spoke to the consistency and regulatory acceptance of data captured with Veeva's tools, stating, "Regardless of whether it’s a registry study or an IDE/IND study in support of a PMA/BLA, the data is collected in the same manner while adhering to regulations."
In addition, the implementation of Veeva eTMF has resulted in significant improvements for Smith+Nephew, with Senior Vice President, Matt Christensen, reporting a reduction in quality control time by over 90% along with a substantial decrease in document preparation timelines.
The momentum gained from this innovative technology reflects a broader trend within the medical technology sector, where efficiency and regulatory compliance are paramount. As companies continue to embrace Veeva's Clinical Platform, the future of clinical trials in medical technology looks promising, marked by faster timelines and improved patient outcomes.
For more details on Veeva's Clinical Platform applications for medical technology, visit
veeva.com/MedTechClinical.
Veeva Systems is the leading provider of cloud software for the life sciences industry, dedicated to innovation and quality, serving over 1,000 clients from prominent biopharmaceutical companies to emerging biotech firms. As a Public Benefit Corporation, Veeva also aligns the interests of its stakeholders, including customers, employees, shareholders, and the industries in which it operates.