Looking forward on Innovation

An estimated 1 out of every 5,000 experimental compounds achieve FDA approval, and bringing medial products to market costs about $1.3 billion. With research and development costs skyrocketing, bringing a medical product to market is a constant battle. As a result, biopharmaceutical commercialization and approaches to clinical trials are shifting to maximize success.  With the current number of clinical trials, many disease areas are experiencing market saturation, which forces biopharmaceutical companies to focus on patients with rare diseases. industry-update-2Additionally, clinical trial IT has shifted drastically with electronic consenting and virtual clinical trials. Since many biopharmaceutical companies are recruiting patients with rare diseases, selecting feasible sites has become more difficult, as many of these patients live in remote regions. In response to this problem, many companies have begun to focus on virtual clinical trials to attract patients.

Here’s how a virtual clinical trial works:

Sponsors engage potential recruits through online avenues, such as social media and email updates. Once a patient agrees to learn more about a trial, the sponsor mails the patient a package of mobile health devices that collect diagnostic data. This data is sent back to the sponsor and automatically uploaded to its EDC database.

As patient enrollment and engagement becomes more and more challenging, it remains to be seen whether virtual clinical trials will succeed. However, it is crucial to keep reinventing the way we conduct studies for greater success.

Do you need help getting started?
Contact the ClinEdge team today for more information about how you can be successful with your studies!

Post by ClinEdge Staff -

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