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Pharma Tech Outlook | Tuesday, November 12, 2019
Blockchain is a disruptive technology enabling the optimization of the overall strategy and process of clinical trials.
FREMONT, CA: Conducting clinical trials is not an easy task as it requires more cost, resources, and time. Another big problem in the pharmaceutical industry is the huge amount of patient data and its accessibility. The emerging applications for technologies like machine learning, automation, blockchain, and other distributed ledger technologies (DLTs) can effectively address these challenges. Blockchain is one of the eminent technologies that help innovating the clinical trial process. The technology was designed initially for trusted financial transactions, and now it can be leveraged to support the traditional data structure used in clinical trials. They can handle tasks like patient recruitment, tracking, and auditing the clinical supply chain, restoring integrity to the clinical trial data, and reducing the overall time to conduct trials.
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Patient data is scattered across multiple systems that are often independent and incompatible with each other making it difficult to recruit individuals for trials. Utilizing blockchain, comp
anies can eliminate data silos. This disruptive technology allows industry professionals to reimagine the process and overall strategy of clinical trials. Clinical trial data are posed to threats such that they can be altered or lost either accidentally or intentionally. Blockchain manages the clinical trial processes, including patient enrolment, trial protocol setup and registration, data collection, and analysis. Blockchain-based solutions address queries of data integrity and reproducibility at various stages through the creation of a detailed, time-stamped ledger of data upload and query events.
Several groups have an essential stake in blockchain-based clinical trials platform, including patients, researchers, ethics boards, funders, pharma and device companies, regulatory agencies, and others. A blockchain platform for clinical trials could be useful in ensuring the trustworthiness of clinical trial data collection and reporting. The Blockchain-enabled clinical trial data management solution enables better interaction of patients and researchers engaged in clinical research. It also offers immediate benefits to patients by empowering them to control their data better and to researchers by providing them with useful tools to maintain adherence to reporting needs.
Thus Blockchain technology enhances the integrity of clinical trials data and promotes trust among the stakeholders.
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