Drug clinical trials are complex, prolonged and most importantly expensive – The Tufts Center for the Study of Drug Development states that it takes 2.5 billion USD to bring a drug successfully into the market. This multibillion dollar industry is witnessing some slow and steady changes.
Read on to find out what is in store for the future of drug clinical trials.
More pharmaceutical companies will shift clinical trials towards the outsourced model
Well-equipped organizations with the right kind of technical expertise and experience in running clinical trials will play a significant role in the pharmaceutical business. In other words, clinical trials will be outsourced to the most capable organizations in the Asia Pacific and North African regions. Project leaders will be focusing their energy towards overcoming the challenges that may arise from the outsourced model and integrated strategic partnerships between the research organization and the sponsor will prevail.
Personalized medicines will gain more significance
Personalized medicines allow administration of precise therapeutic care to patients in a customized manner based on the genomic profile of the patient. In January 2015, US President Barack Obama had announced a multimillion-dollar national Precision Medicine Initiative. Researchers will now be probing more into individual factors that will decide how a person may respond to a specific treatment. Clinical trials may now need to be redesigned to determine if a drug clinical trial fails, whether it is due to the target being inappropriate or due to genetic differences that prevent adequate response in some patients.
Digital Biomarkers will be a big thing
Changing regulations and payer demands have hindered the approval of drugs and the return from the investment is diminishing considerably. The solution to this problem will come in the form of digital biomarkers driven by Big Data. Many companies will be adopting digital biomarkers in their conversations with regulators and the data will be used to enhance efficiency of the system.
Pharmaceutical companies can lay the foundation for virtualization of the clinical trial process
With more and more individuals using smartphones for looking up health issues on the internet, it is the right time to leverage on this engagement of users with mobile and handheld devices. Drug clinical trials may use this opportunity to connect with patients across various locations and collect data. Mobile devices and wearable devices will begin to take a more central role in adding more accurate and quick information in clinical trials. While the next few years may mark only the initial stages of the BYOD strategy in drug clinical trials, technology will slowly fill out the gap between the patients and the research organization or pharmaceutical company.