Emerging markets account for the majority of the world’s future patients, and pharmaceutical companies cannot afford to overlook them. Although regulatory concerns still exist for pharmaceutical companies looking to conduct trials in developing markets, the benefits appear to outweigh the drawbacks. For drug developers, these markets are appealing because they offer more opportunities at lower prices. To enable a more global approach to Veristat clinical trial design, the use of technology can ensure trials in these markets deliver high-quality data regardless of patient location.
In this article, we examine the reasons behind the expansion of emerging markets, and how technology can facilitate the process and move the market in the direction of a more globalized clinical research strategy.
Data and virtual trials for the greater good
The development of virtual trials has ushered in a new era in clinical trial planning and research, much like the ability to access patient data from the comfort of one’s home. This may very well be the best response to a market that needs more patient participation, regardless of location. A recent study of patients at risk for rheumatoid arthritis is an example of a direct-to-patient trial in action. To start with, clinical researchers need to determine participants who will be eligible to participate by scanning multiple sources of real-world patient records, which include insurance databases. Such data collection, processing, and transfer, including data from those considered ineligible during certain clinical trial stages of a clinical trial, could be shared with doctors and other research teams.
Tropical diseases can no longer be ignored
Due to the lack of a model that could be used commercially, researchers have historically ignored tropical diseases like mosquito-borne diseases that affect people in some emerging markets. Today, however, things are different, particularly in light of the growing demand for mosquito-borne disease treatments. this means there’s a need for trials that can provide the necessary data to help guide the development of effective treatment and drugs.
Clinical trials are increasing around the world
The number of clinical trials is growing globally, even though emerging markets are currently the thriving hubs for clinical research. Spending on research and development has also increased at a cumulative yearly growth of 1.76 percent over the last ten years. In part thanks to technological advancements, there are now more trials being conducted. For instance, site-remote technology and wearables allow more people to take part in trials, irrespective of where they are. Also, due to improved communication between site and patient resulting from frequent prompts and reminders to input data or follow the clinical trial drug regimen, two-way smart technology has given rise to more patient-centric clinical trials.
Technology has rendered location irrelevant.
The transmission of patient data from smart devices to a central data repository has made palm-held devices the most user-friendly equipment today. As information flows automatically through cell phone networks via smartphones and customized applications, the process is today easy. Since data can be collected without regard to patients’ physical locations at trial sites, this type of technology is evidently valuable in international or multinational trials. Additionally, it leads to better communication among the different parties involved in the trial.
For the pharmaceutical industry, emerging markets offer exceptional opportunities. Given the different regional dynamics, it is obvious that the clinical development landscape as a whole is changing, highlighting the need for globally-focused strategies. This way researchers are guaranteed to achieve more success in their trials.