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A growing trend is the advent of virtual clinical trials to lower cost and patient burden while increasing patient retention by making trials and therapies as available and desirable to patients as possible.
FREMONT, CA: Enthusiasm for artificial intelligence has risen in the pharmaceutical industry over the last decade, as it can significantly decrease the time taken to produce a new drug. It can manage vast volumes of data and can be used for target identification, big data analytics, forecasting, patient matching, automatic molecular design, and more. Numerous pharmaceutical companies have accepted and implemented Artificial Intelligence (AI) methods, such as machine learning, investing heavily in the expectation that AI can decrease prices, reduce timelines, and contribute to new and improved medications.
Technology Collaborations Will Continue to Gain Traction
New technologies and biopharmaceutical industry partnerships will begin to gain momentum over the next ten years in ways that aim to shorten and streamline the drug discovery process while at the same time delivering essential care to patients most in need. At the most fundamental level, pharmaceutical/technology partnerships enable pharmaceutical firms to pursue a more flexible approach to drug production long before meaningful advantages to the development process are recognized. These partnerships can result in more successful and cost-effective bench-to-bed solutions.
Clinical Trial Models Breakthrough
Beyond technical advances such as AI and machine learning for drug research and early growth, innovations will take place in clinical trial models to minimize costs and speed up the use of new drugs for marketing authorization. A growing trend is the advent of virtual clinical trials to lower cost and patient burden while increasing patient retention by making trials and therapies as available and desirable to patients as possible.
Standard clinical trials have several physical testing sites that involve multiple patient visits to the site to follow the study plan. Patients can engage in simulated clinical trials from the comfort of their own homes and remotely capture data through tracking systems, mobile apps, and more. Trials are continuing to implement smart contracts that allow patients to share their health details online with whomever they want and to be able to see who requests and straightforwardly view their confidential health information. Virtual clinical trials also take advantage of public social media participation channels for essential activities such as recruiting, informed consent, patient counseling, assessment of clinical endpoints, and measurement of adverse effects.
Virtually performed clinical trials create opportunities for a more patient-centered approach. The use of virtual clinical trials will accelerate in the next decade as technical advances arise, making it easier to capture, track and collect data remotely and effectively. Virtual clinical trial models, AI, and technological agreements are some of the main developments that will affect drug discovery over the next decade, accelerating the way to bring much-needed drugs to people who need them.