Technology today plays a critical role in the Veristat oncology trial design. It has revolutionized the value chain by helping decrease the rate of failure. Though regulation of different innovative methods has been easing over time, most CROs have been slow in adopting the emerging technology.
This post will outline the major technologies that have had a high impact on clinical trials and that includes the oncology clinical trial design used. Increased trial costs and the need for patient-centric trials have led to many CROs adopting technology in the trials to increase the chances of success.
The adoption of AI in clinical research is increasing significantly due to its ability to streamline clinical trial operations. There has been a significant increase in the number of players in the pharmaceutical world, hence the ability to fully leverage technology to benefit the strategic partnerships and co-investment deals. AI has penetrated the industry at 25% and is predicted to grow due to its high adoption in phase 1 of the trials. Moreover, the AI supply market is highly divided with suppliers and has just continued to grow the tech adoption curve.
Big data analytics and adoption of blockchain
Adopting Big Data Technology allows you to make decisions across the value chain from the research to the real world. The adoption of Big Data in oncology trials is currently at 70%. Data collected from lab data, EHR/EMRs, trial data, and genetics data combined with artificial intelligence and machine learning is beneficial in designing successful clinical trials. The supply chain has seen an increase in M&As of niche technology providers with CROs and Big Data firms in the clinical research industry. They have formed strategic partnerships with pharmaceutical companies to provide end-to-end services. On the other hand, the integration of blockchain, on the other hand, into clinical research studies has been applied to different aspects of the clinical trial value chain by streamlining the process while providing time, cost, and security benefits.
Clinical trial payments
The high adoption of clinical trial management systems and mobile payments has led to the suppliers’ fast growth. However, supplier innovation will be determined by how easily the said technology integrates with other technologies and its ease of use. The current adoption rate is pretty high with the supply market moving towards its maturity stage due to its increased adoption.
Patient engagement solutions
There is a growing investment in digital tech to design patient-centric tools to help improve patient engagement. Electronic health records, mobile health, and patient-generated data remain the key focus on patient engagement solutions. The adoption rate of these Digital Asset Management solutions is on the rise, and this has increased customer-centric well-being products. However, the supply chain is growing as suppliers are still looking for efficient and better ways to engage the patients.
Disruptive technology trends like mHealth and wearables are making way for small and controlled oncology trials. There is also ease in creating patient-centric clinical trials, which will help increase the chances of success for the trials.