While the barriers to adoption are perceived to be high, digital transformation is absolutely essential to clinical development today. Companies that do not undertake a comprehensive digital clinical strategy risk obsolescence.
Many in biopharma R&D admit that the current high-risk, high-cost R&D model is unsustainable. A number of clinical trial activities still use the same processes as in the 1990s, and the clinical development enterprise has largely failed to keep pace with the ever-growing amounts of real-world evidence, genomics information, and emerging data sources (such as biosensors). Harnessing this data could help demonstrate that new treatments result in differentiated improvements in patient and health economic outcomes. Yet companies are challenged to generate this evidence as efficiently as possible to allow for meaningful return on R&D investment.