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Veeva Systems' (VEEV) New Launch to Enhance Digital Trials
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Veeva Systems Inc. (VEEV - Free Report) recently announced the availability of a key advancement in patient-centric digital trials, Veeva ePRO. The application is expected to simplify the collection and exchange of patient-reported outcomes in digital clinical trials.
The latest launch is expected to provide a significant boost to the Veeva Vault Clinical Suite of the Veeva Development Cloud solutions under the broader Life Sciences segment. It will likely improve the patient experience and help retain patients in trials.
Significance of the Launch
The Veeva ePRO application is expected to make it easier for patients to complete assessments on a mobile device or web browser. It also enables real-time data access for sponsors and clinical research sites, thereby streamlining trial activities. Further, study teams can use ePRO to exchange high-quality data across the clinical ecosystem for improved transparency and collaboration as part of a connected platform for clinical trials.
Per management, Veeva ePRO is expected to meet the requirements of patients, sites and sponsors, and has been connected for end-to-end execution. This, in turn, will likely deliver modern digital applications to its customers that help the life sciences industry advance to patient-centric digital trials.
Industry Prospects
Per a report by Marketsandresearch.biz, the global clinical data management system market was estimated to be $1574.8 million in 2021 and is projected to reach $4294.1 million by 2028 at a CAGR of 15.4%. Factors like a surge in clinical trials, a flourishing healthcare industry, and increasing research collaborations and partnerships are expected to drive the market.
Given the market potential, the latest addition to its Veeva Vault Clinical Suite is expected to strengthen Veeva Systems’ position in the global cloud application space.
Recent Developments
This month, Veeva Systems announced the availability of Veeva CDB, a novel solution for aggregating, cleaning and transforming clinical data.
The same month, Veeva Systems announced two new Veeva Link applications — Link SiteBase and Link TrialBase — to aid clinical teams in improving site selection and optimizing trial design.
Last month, Veeva Systems announced two new Veeva Crossix solutions — Veeva CrossixHCP Trigger Data and Veeva Crossix Omnichannel Boost. These latest products are aimed at aiding life sciences companies in executing and optimizing omnichannel marketing campaigns.
Price Performance
Shares of the company have lost 50.3% in the past year compared with the industry’s 65.3% decline and the S&P 500's 19.9% fall.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Veeva Systems carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , ShockWave Medical, Inc. and McKesson Corporation (MCK - Free Report) .
AMN Healthcare, flaunting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 3.2%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.7%.
AMN Healthcare has gained 22.4% against the industry’s 39.8% decline in the past year.
ShockWave Medical, sporting a Zacks Rank #1 at present, has an estimated growth rate of 33.5% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average beat being 180.1%.
ShockWave Medical has gained 34.8% against the industry’s 33.2% decline over the past year.
McKesson, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.1%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, the average beat being 13%.
McKesson has gained 75.1% against the industry’s 15.2% decline over the past year.
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Veeva Systems' (VEEV) New Launch to Enhance Digital Trials
Veeva Systems Inc. (VEEV - Free Report) recently announced the availability of a key advancement in patient-centric digital trials, Veeva ePRO. The application is expected to simplify the collection and exchange of patient-reported outcomes in digital clinical trials.
The latest launch is expected to provide a significant boost to the Veeva Vault Clinical Suite of the Veeva Development Cloud solutions under the broader Life Sciences segment. It will likely improve the patient experience and help retain patients in trials.
Significance of the Launch
The Veeva ePRO application is expected to make it easier for patients to complete assessments on a mobile device or web browser. It also enables real-time data access for sponsors and clinical research sites, thereby streamlining trial activities. Further, study teams can use ePRO to exchange high-quality data across the clinical ecosystem for improved transparency and collaboration as part of a connected platform for clinical trials.
Per management, Veeva ePRO is expected to meet the requirements of patients, sites and sponsors, and has been connected for end-to-end execution. This, in turn, will likely deliver modern digital applications to its customers that help the life sciences industry advance to patient-centric digital trials.
Industry Prospects
Per a report by Marketsandresearch.biz, the global clinical data management system market was estimated to be $1574.8 million in 2021 and is projected to reach $4294.1 million by 2028 at a CAGR of 15.4%. Factors like a surge in clinical trials, a flourishing healthcare industry, and increasing research collaborations and partnerships are expected to drive the market.
Given the market potential, the latest addition to its Veeva Vault Clinical Suite is expected to strengthen Veeva Systems’ position in the global cloud application space.
Recent Developments
This month, Veeva Systems announced the availability of Veeva CDB, a novel solution for aggregating, cleaning and transforming clinical data.
The same month, Veeva Systems announced two new Veeva Link applications — Link SiteBase and Link TrialBase — to aid clinical teams in improving site selection and optimizing trial design.
Last month, Veeva Systems announced two new Veeva Crossix solutions — Veeva CrossixHCP Trigger Data and Veeva Crossix Omnichannel Boost. These latest products are aimed at aiding life sciences companies in executing and optimizing omnichannel marketing campaigns.
Price Performance
Shares of the company have lost 50.3% in the past year compared with the industry’s 65.3% decline and the S&P 500's 19.9% fall.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Veeva Systems carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , ShockWave Medical, Inc. and McKesson Corporation (MCK - Free Report) .
AMN Healthcare, flaunting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 3.2%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.7%.
You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has gained 22.4% against the industry’s 39.8% decline in the past year.
ShockWave Medical, sporting a Zacks Rank #1 at present, has an estimated growth rate of 33.5% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average beat being 180.1%.
ShockWave Medical has gained 34.8% against the industry’s 33.2% decline over the past year.
McKesson, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.1%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, the average beat being 13%.
McKesson has gained 75.1% against the industry’s 15.2% decline over the past year.