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Medidata Cloud Manages Echocardiogram Images in WASE Study

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Medidata Cloud Manages Echocardiogram Images in WASE Study

Medidata's (MDSO) Rave Imaging platform is a cloud-based clinical data management system used to electronically capture, manage and report clinical research data.

Medidata Solutions, Inc. MDSO recently announced that Medidata Cloud has successfully managed Echocardiogram medical Images for the World Alliance of Societies of Echocardiography (WASE) Normal Values Study.

WASE leveraged on Medidata Rave Imaging platform. The company has a Zacks Rank #3 (Hold).

Echocardiogram Medical Images

An important part of Cardiovascular Ultrasound technique — Echocardiogram — is used in the diagnosis and management of patients with heart diseases. Echocardiogram Medical Images use high-frequency sound waves (ultrasound) to create pictures of heart’s chambers, valves, walls and the blood vessels.

Per Grand View Research, the global Cardiovascular Ultrasound market size had a worth of $1.38 billion in 2017 and is anticipated to witness a CAGR of 3.84% by 2025.

Considering the trends, analysts are expecting significant growth in the Cardiovascular Ultrasound market. Thus, companies like Medidata are likely to rake in huge profits in the upcoming days.

A Brief Note on Medidata Cloud

Medidata Cloud is an AI enabled ‘Intelligent Platform for Life Sciences’ that is used by pharmaceutical, biotech, medical device companies and academic researchers.

The company’s flagship Medidata Rave is a cloud-based clinical data management system used to electronically capture, manage and report clinical research data. It enables the user to record patient information (i.e., visit, lab and adverse event data) using forms that are customized for each study. The company continues to gain a solid market share on the back of RAVE. In WASE study, the RAVE platform successfully captured Echocardiogram medical Images.

In 2018, the company expanded the use of Medidata Cloud to automate operations, increase efficiencies and gain better data visibility to accelerate 2125 oncology development program.

Per a research by MarketsandMarkets, the global healthcare cloud computing market is expected to reach $9.48 billion by 2020 from $3.73 billion in 2015, at a CAGR of 20.5%. This reflects solid growth prospects in the long haul.

More About WASE

The WASE study measures heart dimension and function across countries, geographical regions, cultures, gender and age to understand differences based on diversity.

It was launched in June 2016. The study has enrolled more than 2,000 subjects in six continents and 18 countries till now. The final results of WASE study will be shared in 2019.

The study is funded by the American Society of Echocardiography (ASE) Foundation. Medidata, the MedStar Health Research Institute, University of Chicago and TOMTEC Imaging Systems supported the study.

Shares Up

Shares of Medidata have outperformed the industry on a year-to-date basis. Notably, the company’s shares have gained 3.8%, against the industry’s decline of 2.1%.

 

Key Picks

A few better-ranked stocks in the broader medical space are Wright Medical Group N.V. WMGI, Inogen, Inc INGN and Veeva Systems VEEV.

Wright Medical has a long-term expected earnings growth rate of 11%. The stock carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Inogen’s long-term earnings growth rate is projected at 24.5%. The stock carries a Zacks Rank #2.

Veeva Systems’ long-term earnings growth rate is estimated at 19.3%. The stock sports a Zacks Rank #1.

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