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Global Contract Research Organizations (CROs) market is projected to grow at a CAGR of 9.95% by 2032: Visiongain Reports Ltd

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Visiongain has published a new report entitled Contract Research Organizations (CROs) 2022-2032. It includes profiles of Contract Research Organizations (CROs) and Forecasts Market Segment by Services {Preclinical, Clinical (Phase I, Phase II, Phase III, Phase IV), Laboratory Services, Consulting Services, Data Management Services}, Market Segment by Company Size (Large Pharma & Biotech Companies, Mid-sized Pharma & Biotech Companies, Small Pharma & Biotech Companies), Market Segment by Drug Type (Small Molecules, Large Molecules), Market Segment by Therapeutic Area (Oncology, CNS, Cardiology, Infectious, Metabolic, Others), plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.

The global Contract Research Organizations (CROs) market was valued at US$57.1 billion in 2021 and is projected to grow at a CAGR of 9.95% during the forecast period 2022-2032.

Biotech firms seek collaborations with CROs to stay competitive in the Global Market 
It is quite advantageous for biotech and pharmaceutical businesses to collaborate with a CRO that can support them all the way through their clinical research services such as clinical trials, preclinical research, pharmacovigilance, biopharmaceutical development, bioassay development, and data management among others. A seasoned, full-service CRO has a vast network of experts and approaches pharmaceutical drug development from the perspective of the end goal. Working closely with a good regulatory team is essential since biotech companies inevitably encounter regulatory restrictions that must be met. Biotech companies typically have high levels of technical skill in the product development process but frequently lack the necessary regulatory knowledge. Additionally, regulatory standards may differ between nations and areas. A biotech company finds it challenging to keep up with the constantly evolving rules of the international market. CROs can contribute more expertise, value in this area, and make a difference.

The major drivers for the growth of the contract research organizations (CROs) market are increasing R&D expenditure by major pharmaceutical and biotech companies coupled with growing number of clinical trials in emerging countries. On the other hand, stringent regulatory scenarios in developed economies and intellectual property rights issues are restraining the growth of this market.

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How has COVID-19 had a Significant Positive Impact on the Contract Research Organizations (CROs) Market?

The COVID-19 pandemic abruptly and drastically altered the global demand and required a universal response. While certain sectors, like retail, hospitality, and transportation came to a screeching halt, others, like healthcare, had to instantly adjust to cope with the massive humanitarian crisis brought on by COVID-19. Clinical trial practitioners in the life sciences sector had to quickly adapt to provide alternate methods of participant monitoring and care in a setting where physical access was not an option. In clinical studies conducted during the pandemic, numerous data collection techniques that had been available for years but had not been extensively used were rapidly implemented.

The COVID-19 epidemic last year forced sectors to quickly adapt and change in response to a situation they had never encountered before. To survive, industries grouped, got innovative, and stepped outside of their comfort zones. In a world where conventional, on-site procedures were no longer an option, which required fast shifting to accommodate alternate means of monitoring and caring for clinical trial participants. The pandemic hastened the widespread acceptance of novel strategies, technologies, and models—many of which had previously been cautiously investigated and tested.

Additionally, the industry has gained insight into when and how to use these strategies to enhance clinical research thanks to the pandemic’s forced adoption of fit-for-purpose, hybrid, and decentralized clinical trial models. Fortunately, the tools and software needed to support these advancements in clinical research are already in place and are intended to lead the way for clinical trials in the future. Study teams can be sure that technology will not hinder them as clinical trial methodologies continue to change.

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How will this Report Benefit you?

Visiongain’s 310-page report provides 116 tables and 181 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses of the Global Contract Research Organizations (CROs) market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Contract Research Organizations (CROs). Get the financial analysis of the overall market and different segments including services, end-users, drug type, and company size, and capture a higher market share. We believe that there are strong opportunities in this fast-growing contract research organizations (CROs) market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximize the productivity of the company.

What are the Current Market Drivers?

Rising Demand for Clinical Trials Globally
Due to ongoing investment in R&D, growing demand for biopharmaceuticals, and increased healthcare needs for the aging population, biotech, pharmaceutical, and medical device firms continue to grow quickly. The need for efficient clinical trials has grown in response to this in order to guarantee the efficacy and safety of products. Almost 266 thousand open clinical trials are currently taking place worldwide. There are now more than 105 thousand open clinical studies running alone in the U.S.

These trials are primarily looking at biologics and other pharmaceutical drugs. The market for clinical trial services is expanding positively, which has resulted in an increase in finance and investment as well as M&A (merger and acquisition) activity, the usage of CROs (contract research organizations), and functional service providers. The FDA’s (Food and Drug Administration) recent simplification of the approval adoption process, the development of genomics, and the introduction of medications with genetic profiles specifically tailored to patients or diseases are other factors contributing to the growth of the clinical trial services market.

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Rising R&D Investments by Pharmaceutical and Biotech Companies to Boost CROs Market Growth
The extensive process of creating a new drug involves risk at each stage and often takes around 10 years before it is available for official use. One successful drug requires a significant financial investment to be released onto the market for patients. There is a risk of sunken capital investment in each stage of the clinical trial. In the United States, the government, businesses, non-profit groups, medical professionals, academic institutions, and universities all play significant roles in helping patients access new medical advancements and medications. Out of all of these organizations, the biopharmaceutical sector is responsible for a large number of clinical trial investments in the US.

The worldwide pharmaceutical sector is heavily invested in research, with cutting-edge businesses spending roughly 15% of their sales on research activities. Some of the largest pharmaceutical corporations have raised their R&D spending to support the development of new products and medications. For instance, R&D expenses for 2020 include US$2.2 billion from Incyte, US$2.7 billion from Regeneron Pharmaceuticals, US$3.9 billion from Biogen, and US$11.1 billion from Bristol-Myers Squibb.

Where are the Market Opportunities?

Applications of Artificial Intelligence (AI) Could Assist in Faster, Safer & Significantly Less Expensive Clinical Trials
It is believed that effective patient data is typically used to create remarkable medications. Today, data is being created at an unmatched rate, and the pharmaceutical industry is becoming more aware of the opportunities that can be created by effectively utilizing data throughout the lifecycle of a medicine. New technologies are being developed, commercialized, and used, prompting businesses, researchers, and medical professionals to re-evaluate some of their more traditional procedures.

Clinical trials are one area that has enormous potential. Although AI has not been generally embraced and applied to clinical trials, it has the power to change how they are developed. Clinical trials might be conducted more quickly, safely, and much less expensively thanks to AI technologies. Considering AI and advanced data analytics,  AI can give the pharmaceutical industry more information to guide their decisions.

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AI can execute complicated analysis far more quickly than a human can, which helps researchers sift through large amounts of data to define new drug combinations, find new applications for current pharmaceuticals, or locate potential for individualized, focused treatments. The COVID-19 pandemic is being addressed with this capability. AI is being used in a variety of research initiatives to find medications that were once created to treat different illnesses but could now be repurposed to combat coronavirus. Companies seek to determine which existing medications could interfere with COVID-19’s function by using AI to analyze the molecular structures of those medications.

Increasing Demand for Biological Therapies to Offer Lucrative Growth Prospects for CROs
The introduction of novel treatments based on biologics and rising sales of current biologics are projected to increase the shares of biologics, biosimilars, and large-molecule medications in the upcoming years. Over 200 biologics have received FDA approval in the previous ten years. In addition, 27 percent of all medications approved between 2018 and 2021 were biologics, while 65 to 75 percent of medications in clinical research now are biopharmaceuticals. 46 novel pharmaceuticals and biologics received FDA approval in 2021 in the U.S. FDA. These products (mostly parenteral drugs) necessitate more focus on dosage form stability along with original strategies to get beyond biological delivery obstacles. Biologics manufacturing outsourcing has increased as a result of the complexity of manufacturing such formulations.

Competitive Landscape
The major players operating in the contract research organizations (CROs) market are Charles River Laboratories, Clinipace, CMIC HOLDING Co., LTD., EPS Corporation, ICON plc, IQVIA HOLDINGS INC., Labcorp Drug Development, MedPace, Parexel, PPD (Thermofisher Scientific Inc.), Syneos Health, Worldwide Clinical Trials, and Wuxi AppTec. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product/service offerings among other strategies to expand their reach in the global market.

Recent Developments

  • In April 2022, LabCorp made an announcement that it is collaborating with Xcell Biosciences, Inc. (Xcellbio), to advance critical work that helps its clients in offering innovative cell and gene therapies to the global market.
  • In December 2021, Optimapharm acquired SSS International Clinical Research GmbH. Optimapharm is an international contract research organization (CRO) that primarily conducts clinical studies for pharmaceutical, biotechnology, and medical technology firms.

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About Visiongain

Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.

Contact:
Dev Visavadia
PR at Visiongain Reports Limited
Tel: + 44 0207 336 6100
Email: [email protected]

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Artificial Intelligence

How AIoT shapes the future of mobility: Hikvision at ITS World Congress 2024

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HANGZHOU, China, Sept. 27, 2024 /PRNewswire/ — Hikvision made a significant impact at the ITS World Congress in Dubai with its captivating theme, “Embrace AIoT for safer, smarter, and greener mobility.” Its booth became a hub of innovation, where visitors explored AIoT solutions that are reshaping the transportation landscape, sparking deep conversations on the future of urban mobility.

Road safety revolution: harnessing AIoT for secure transportation
Hikvision’s commitment to road safety was on full display at its booth through the impressive array of AIoT solutions designed to create secure and reliable traffic environments. The company’s technology provides 24/7 traffic monitoring, ensuring continuous oversight of motor vehicles, non-motorized vehicles, pedestrians and environmental factors. This comprehensive, real-time information collection enables traffic managers to prevent accidents and enhance road safety. Among the showcased products was the 20 MP IR ANPR Checkpoint Capture Unit, renowned for its high-definition capture capabilities, bolstering traffic safety measures.
A standout innovation was the integration of advanced radar and camera technologies, ensuring uninterrupted, comprehensive detection even in adverse weather conditions. The Radar-Video Fusion Incident Detection Cameras, featured prominently in the product experience area, enable early detection and warning of potential hazards. They are particularly effective in challenging situations such as curved roads, blind spots at intersections, and obstacles beyond visual range.
Attendees also engaged with onboard monitoring products on the simulated bus, including dome network cameras, which is designed to enhance passenger safety. Driving assistance products, such as the Driver Status Monitor (DSM), were demonstrated to mitigate unsafe driving behaviors and ensure safer journeys.
Urban mobility redefined: smart traffic innovations
In the realm of smarter mobility, Hikvision showcased its multidimensional sensing technology, which integrates visible light sensors, infrared sensors, radar, and sonar. This technology expands perception capabilities, significantly improving traffic management and situational awareness. The use of AI-powered comprehensive sensing elevates incident monitoring and violation detection to unprecedented levels of accuracy and efficiency.
A major attraction was the Radar-Video Fusion TandemVu PTZ Camera, which integrates millimeter-wave radar with high-resolution cameras for extensive traffic detection and data analysis. AI-based algorithms combine these two systems to enhance target information, detecting up to 16 types of incidents. This leads to the development of a large-scale fusion model that merges spatial physical data with image semantic information. The result is ultra-long-range perception, achieving over 95% accuracy in vehicle trajectory detection. This robust system improves traffic violation management and optimizes traffic flow, significantly enhancing road efficiency.
At the simulated bus station, visitors observed how AI-assisted people counting automated the collection of passenger flow statistics at peak stop hours and bus line frequency during busy periods. Paired with smart bus stop digital signage, the solution improves bus service quality, operational efficiency, passenger experience, and overall public transport effectiveness.
Sustainable transportation: leading the charge for greener cities
Hikvision’s commitment to sustainable urban mobility was evident through its innovative green wave technology and eco-friendly checkpoint solutions. Green wave technology efficiently manages traffic flow to reduce congestion and lower carbon emissions, aligning with global sustainability goals. Visitors were particularly impressed by a case study showcasing a green wave solution implemented in Zhoushan, China. Over a stretch of 21 kilometers and 34 intersections, this main road cut travel times by 50%.
The use of DarkFighterX technology in checkpoint cameras also received significant attention. This technology senses both visible and invisible light, resulting in more accurate and realistic images. It enhances traffic violation enforcement efficiency while minimizing the need for high ambient light levels, thus reducing light pollution. The 9M DarkfightX ANPR Checkpoint Camera exemplified this dedication to environmental stewardship.
Frank Zhang, President of Hikvision MEA, remarked, “Hikvision supports sustainable urban planning by empowering traffic departments to address congestion and transportation challenges.” He further emphasized, “Our system’s openness fosters a secure and reliable platform for developing smart and green cities. Additionally, our solar technology is extensively utilized in remote areas, while our smart street lighting solutions reduce energy consumption by 20-30%, promoting intelligent urban transportation and advancing global sustainability objectives.”
Hikvision’s presence at the ITS World Congress in Dubai underscored its leadership in integrating AIoT technologies to drive safer, smarter, and greener mobility solutions. The engaging presentations and advanced product demonstrations captured significant attention from industry partners and customers, reaffirming the company’s role as a pioneer in shaping the future of urban transportation. As the world moves towards more intelligent and sustainable transportation systems, Hikvision remains at the forefront, embracing AIoT to create a safer, smarter, and greener future for all.
To find out more about Hikvision’s advanced traffic and public transport solutions, please explore the Hikvision official website.
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Artificial Intelligence

Anti-Drone Market worth $7.05 billion by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Sept. 27, 2024 /PRNewswire/ — The global anti-drone market was valued at USD 2.16 billion in 2024 and is projected to reach USD 7.05 billion by 2029; it is expected to register a CAGR of 26.7% during the forecast period according to a new report by MarketsandMarkets™. Increasing government spending on counter-drone technologies, rising incidence of critical infrastructure security breaches by unauthorized drones, and surge in adoption of aerial remote sensing technologies to safeguard critical infrastructure are attributed to the demand for anti-drone.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=177013645
Browse in-depth TOC on “Anti-Drone Market” 178 – Tables61 – Figures253 – Pages
Anti-Drone Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 2.16 billion
Estimated Value by 2029
$ 7.05 billion
Growth Rate
Poised to grow at a CAGR of 26.7%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By System Type, Application, Platform type, Vertical, and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Vulnerability to hacking
Key Market Opportunities
Emphasis on improving unmanned aircraft systems technology
Key Market Drivers
Growing number of illicit activities
By System Type: Hybrid systems to account for the larger market share in the forecasted year.
The hybrid segment accounted for the largest share of the anti-drone market in 2029. The trends of integrating multiple anti-drone technologies are rising since they are most effective in detecting, tracking, and neutralizing drone threats. These systems merge electronic, kinetic, and lasers, providing a comprehensive defense solution against UAVs. Hybrid systems use electronic, kinetic, and laser-based countermeasures to offer optimum protection against drones. These systems are designed to detect, track, identify, categorize, and mitigate drones at operational wide ranges ranging from a few km up to tens of km.
By Platform: The ground-based segment accounted for the largest market share in the forecast year.
The ground-based segment will hold a major share of the anti-drone market in 2029. Many ground-based anti-drone systems use several electronic technologies, such as radar, IR sensors, acoustic systems, and RF & GNSS jammers. MESA radar solutions are used mostly for counter-UAS purposes, protecting critical infrastructure, military camps, and other security-sensitive sites from unauthorized drones. One such solution is EchoGuard, a ground-based airspace management solution that contains a software-defined 3D radar that can be specific to the site. This system can identify single or multiple off-chance drones, including swarms in unauthorized areas. They provide accurate and sustained airspace surveillance for the field of view (FOV) they are configured, and both human and AI-monitored visual checks. The system can be easily transported and integrated directly with the command-and-control centers or another identification sensor for portable use, and multiple units of the system can be combined to cover vast areas or lengths of borders. Major providers of ground-based counter-drone systems include companies like EchoDyne Corporation, DeTect, Meteksan Defense, and WhiteFox Defense. Acoustics-based Discovair G2 utilizes patented microphone arrays. With 128 interconnected microphone elements, the Discovair sensor units can establish azimuth and elevation to the target in real-time using advanced digital signal processing.
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By Region: Americas are expected to hold the largest share of the anti-drone market during the forecast period.
Americas is expected to capture the largest share in the anti-drone industry during the forecast period. The growth can be attributed to protecting crucial infrastructure in the region. Governments, particularly in the US, invest in anti-drone systems for military bases, borders, and critical infrastructure. For Instance, in April 2023, RTX secured a USD 237 million contract from the US Army to provide Ku-band Radio Frequency Sensors (KuRFS) and Coyote effectors. These systems are designed to detect and neutralize unmanned aircraft systems (UAS). The contract includes stationary and mobile systems and a specified quantity of effectors, all aimed at enhancing the Army’s operations within the US Central Command region.
Key Players-
The key companies offering anti-drone companies include RTX (US), Lockheed Martin Corporation (US), Leonardo S.p.A. (Italy), Thales (France), and IAI (Israel).
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports: 
Drone Sensor Market Size, Share, Industry Growth & Trends by Sensor Type, Platform (VTOL Type, Fixed Wing Type, Hybrid Type), Application (Navigation, Collision Detection & Avoidance, Data Acquisition, Motion Detection, Power Monitoring), End Users and Region – Global Forecast to 2029
Smart Agriculture Market Size, Share, Statistics and Industry Growth Analysis Report by Offering (Hardware, Software, Services), Agriculture Type, Farm Size (Large, Medium, Small), Application (Precision Farming, Livestock Monitoring) and Region (America, Europe, Asia Pacific, Row) – Global Forecast to 2028
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Rohan SalgarkarMarketsandMarkets™ INC. 1615 South Congress Ave.Suite 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/anti-drone-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/anti-drone.asp
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Artificial Intelligence

CluePoints Launches Medical & Safety Review (MSR) Software to Revolutionize Clinical Data Review

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CluePoints furthers its commitment to delivering innovative solutions that enhance clinical trial efficiency with this latest addition to its enterprise software platform.
KING OF PRUSSIA, Pa., Sept. 27, 2024 /PRNewswire/ — CluePoints continues to transform clinical trial review and leverage its industry-leading software to enhance the interrogation, analysis and presentation of data with the launch of its latest application, Medical & Safety Review (MSR).

The tool simplifies and streamlines the medical analysis of study data through user-friendly dashboards, data manipulation and cleaning, query management and full transparency over the data history. This not only improves efficiency and communication in medical oversight, but also elevates patient safety, differentiating MSR as a smarter and unique solution.
Designed by, and for Medical and Safety Reviewers, MSR converts the manual analysis of patient outcomes, which can be prone to inefficiency and error, into an accurate, efficient process. MSR tackles time-consuming study preparation for specific visualizations by featuring a comprehensive standard visualization library as well as the ability to copy and reuse dashboards across different studies, enabling the identification of outlying values, change tracking, and improved communication for smarter clinical trials.
Other benefits of MSR include:
Enhanced medical review efficiency and reduced human errors via automated checksReduced time spent by clinical and data management teams in reviewing dataImproved collaboration with integrated review workflows across departmentsEnsured record quality and accountability with comprehensive change trackingDriving faster decision making with the proactive detection of trends and safety issuesEnsuring regulatory compliance with rule-based detection and user assignmentsAndy Cooper, Chief Executive Officer at CluePoints, commented, “We are thrilled to announce the launch of Medical & Safety Review to our growing product offerings. MSR is the latest application addition to the CluePoints platform, which includes products such as Risk-Based Quality Management (RBQM) and our Site Profile & Oversight Tool (SPOT). Together, they provide a comprehensive approach to clinical trial optimization, enhancing data integrity, ensuring regulatory compliance, and accelerating drug development. The creation of MSR ensures a more streamlined review process while prioritizing patient safety at every step and empowers medical teams to swiftly identify outliers, track data changes, and improve communication.”
To learn more about CluePoints’ award-winning solutions, please visit www.cluepoints.com
About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. We are leveraging the potential of Artificial Intelligence using Advanced Statistics and Machine Learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.
 

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