Digtal R&D and the future of clinical development
Biopharma R&D has changed the face of disease management over the years. Yet many in the field admit that clinical development has fallen behind in adopting digital technologies, which have the potential to change how research organizations can engage with patients, innovate in patient care, and execute processes to drive efficiencies. While digital transformation is a complex, resource-intensive, and lengthy undertaking, the rewards are well worth the effort.
The high-risk, high-cost R&D model that most biopharma-companies currently employ is not sustainable. Several clinical development processes have not evolved since the 1990’s and the enterprise has largely failed to keep up with new and emerging sources of data.
Utilizing real-world evidence, genomics information and data from sources such as biosensors and wearable devices could result in improved clinical development processes and improve patient and health outcomes as well.
This analysis from Deloitte highlights how digital technologies can help biopharma-companies transform their clinical development processes by incorporating valuable insights from multiple sources of data. Although digital transformation of R&D is a comprehensive and complex task, the research conducted by Deloitte shows that companies that do not invest now, risk falling behind their competitors. Early adopters can benefit from better access to and engagement with patients, deeper insights, and faster cycle times for products in development.