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Press Release

Drug Development Biometric Services Procurement Research – Market Trends and Spend Analysis by SpendEdge

Posted on: 22 Mar 18

Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Drug Development Biometric Services Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the pharma and healthcare industry. This report breaks down the data and analysis behind the procurement of drug development biometric services and acts as an all-inclusive guide for making smart purchasing decisions.

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Global Drug Development Biometric Services Procurement Market Intelligence Report (Graphic: Business Wire)

“The advent of bioprocess drugs that is fueling investment in research initiatives by pharmaceutical companies drives the demand for drug development and research,” says SpendEdge procurement analyst Bhuvaneshwari Udayakumar. “Also, CDM software is anticipated to be the key factor driving the demand for biometric services in drug development,” added Bhuvaneshwari.

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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Drug Development Biometric Services Market:

  • Higher adoption of EDC
  • Integration of Big Data analytics
  • High adoption of eTMF

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Higher adoption of EDC:

EDC refers to the use of electronic platforms for data recording and storage as opposed to using paper-based data recording. Adopting EDC helps firms in reducing the time required to capture, analyze, and transmit data. Moreover, it offers substantial cost savings as lesser site visits are required for data. Also, the use of EDC assists in audits as these systems possess the capability to capture changes in data.

Integration of Big Data analytics:

The global drug development biometrics services market is observing the integration of Big Data analytics in clinical trial data management. This is mainly because the availability of enormous Big Data provides quick access to patient records and details that help in streamlining the data collection processes. Moreover, the integration of Big Data analytics in clinical data management software offers easy and quick access to critical records.

High adoption of eTMF:

The global drug development biometric services market is observing an increase in the adoption of eTMF. An eTMF system typically comprises of hardware and software that facilitates management of regulated clinical trials. The rise in adoption of eTMF can also be attributed to various other factors including its ability to streamline the process of recording data throughout the lifecycle of clinical trials. It also helps in drug validation and audits conducted by regulatory agencies.

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About SpendEdge

SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.

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Business Wire

Last updated on: 22/03/2018

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