By TNT Bureau
Oct 4, 2017: Digital health tools have become extremely popular in the field of pharma and biotech. And according to a research paper Validic, biotech and pharma will resort to such tools in an increasing manner within the next five years.
The research points out the increase in acceptance and utilization of digital health technologies and PGHD in contemporary world. Such wide acceptance is mostly due to rising pressure to cut trail costs, display real world-efficacy, enhance treatments for chronic diseases, streamline processes, and address medication adherence, according to Validic.
Rising prevalence of technology
According toa survey report, more than 60% people use digital health technologies in clinical trials, and more than 97% plan on using these health technologies in the coming five years.Hence, there is a rising prevalence of health technology along with the rising need for remotely-collected patient data.
The research examined the survey results as well as market trends to recognize the chief factors fueling the initiation and use of digital health technologies. For this, the research divided health technology into categories such as apps and sensors, in-home clinical devices, patient health data and wearbles. The research then pointed out some factors behind the increasing potential of health technology.
Changes in digital health data
One of the main points that the research revealed is the changing role of digital health data. While the existing use of health technologies in clinical trials is chiefly concentrated on medication adherence, subject recruitment, and remote patient monitoring, patient communities are likely to become one of the majo rdevelopment opportunities for digital health in pharma.
Decrease trail cost
Cutting drug development costs is extremely essential. As drug development costs continue to shoot up, medical companies are facing escalating pressure to decrease trials costs, streamline trial processes and exhibit real-world efficiency to several stakeholders. Such factors add considerably to driving the end result, reducing drug development costs and ensuring ample return on investment.
Chronic disease management
One of the crucial drivers is chronic disease management. Over the next couple of years, chronic disease is likely to be a crucial platform for pharma and biotech companies. Since digital health is an important tool for prevention of chronic disease, 70% said that patient-generated health data can have the most impact on enhancing treatments for chronically ill patients.
Technical challenges for data access have been addressed. Whilst the utilization of digital health technologies in clinical trials is comparatively new and stakeholders have some persistent concerns, the interoperability and technical obstructions for launching digital health devices into trials have been overcome.
Digital health is quickly growing in size and has great potential as well. Hence, app developers and device makers are entering the market with new tools and data points. Knowing which devices to use, how to access and integrate the data, and best practices for examining the data still remain concerns for some consumers.