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Survey Finds Medtechs Lack Confidence in Regulatory Data Quality

1. 50% of MedTech respondents lack confidence in regulatory data completeness. 2. 80% report lengthy timelines for submission preparation, exceeding one month. 3. 67% use manual processes to monitor time to market, impacting efficiency. 4. 56% plan to adopt regulatory information management systems for operational improvements. 5. Report highlights need for automation in regulatory affairs to enhance compliance.

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Why Bullish?

VEEV's advancement in automating regulatory processes may enhance market position and revenue. Historical context shows increased automation requests leading to higher sales for SaaS providers in healthcare.

How important is it?

The report addresses significant operational gaps within the MedTech sector, where VEEV can provide solutions, potentially leading to increased demand for its services.

Why Long Term?

Adoption of Veeva's solutions can take time to reflect in financial metrics, similar to past trends with software sector growth following product enhancements.

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Veeva MedTech report reveals opportunity to move beyond manual processes for speed and compliance , /PRNewswire/ -- Veeva Systems (NYSE: VEEV) today announced findings from the 2025 Veeva Medtech Regulatory Affairs Benchmark, revealing that 50% of respondents lack full confidence in the completeness of their underlying data for global product registrations. Many organizations are manually reconciling data to ensure regulatory compliance, increasing the administrative burden for regulatory affairs teams.  With the rise of new technology to streamline and automate regulatory processes, high data quality is paramount for medtech innovation. When considering effective AI implementation, only 17% rate their regulatory data quality as excellent, with the remainder categorizing it as average or worse. The report from Veeva MedTech examines the current state of regulatory operations, including: Lengthy timelines for submission preparation. From data gathering to internal approval, preparing a submission for a 510(k) takes a month or longer for 80% of respondents, with 24% indicating that it takes more than six months. With organizations spending up to two years on each MDR submission, medtechs that reduce submission timelines can get products to market faster with considerable cost and resource savings. Prioritizing time to market measurement. Only 5% of those surveyed use a fully automated process to monitor time to market, a key metric for effective resource planning. About two-thirds (67%) partially or entirely rely on manual processes, making it difficult to generate accurate and timely performance insights. Room for regulatory operational improvement. Respondents identified heavy administrative burden (61%), siloed processes (49%), digital tool proficiency (35%), and educational shortcomings (24%) as the largest gaps in regulatory affairs, all of which may hinder product registrations and slow time to market. Technology advancing regulatory affairs. More organizations are making strategic decisions to improve efficiency and compliance, with 56% planning to adopt a regulatory information management (RIM) system. Nearly half of respondents are looking to develop integrations between existing systems (52%) or implement automated submission tracking and reporting tools (48%) to gain unified, accessible data. "The report illustrates key areas to evolve regulatory affairs to a strategic enabler of business objectives through connected, automated processes for increased data reliability and speed," says Seth Goldenberg, president, Veeva MedTech. "As teams are asked to do more with the same resources, addressing operational gaps to foster agility while maintaining compliance in the evolving regulatory landscape will be critical." The 2025 Medtech Regulatory Affairs Benchmark surveyed a diverse group of 130 regulatory professionals, exploring the most critical challenges facing regulatory teams today. To learn more, read the full benchmark report here. About Veeva MedTech Veeva MedTech helps medical device and diagnostics companies streamline the complete product development and commercialization lifecycles to deliver products to patients with greater speed and efficiency. Veeva MedTech's offering includes applications that advance clinical, regulatory, quality, commercial, and medical operations. For more information, visit veeva.com/medtech/. About Veeva SystemsVeeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world's largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com. Veeva Forward-Looking StatementsThis release contains forward-looking statements regarding Veeva's products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-Q for the period ended April 30, 2025, which you can find here (a summary of risks which may impact our business can be found on pages 32 and 33), and in our subsequent SEC filings, which you can access at sec.gov. Contact:Deivis MercadoVeeva Systems[email protected] SOURCE Veeva Systems WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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