Why is RGL Research taking part in the Digital Technology Revolution?
RGL Research • Jun 2019
The rising of digital technologies in the Healthcare sector, A paradox:
Digital technologies have been transforming all worldwide industries sectors in the past decade, and the Healthcare industry isn't an exception.
First of all, the new generation of Tech-oriented physicians is seeking new technologies in their daily tasks and Hospitals are transforming to digitize patients' care. Electronic patient files. digital drugs. electronic prescription treatments. Artificial Intelligence for reading and analyzing medical images. Are, for example, important tools toward Public health and patient outcomes improvement.
Even more, Regulators are understanding the need for changes in regulation and the control of this new environment.
In addition, this transformation is supported by the emergence of innovative companies. These companies create new products and digital tools, allowing this new pillar in the Industry to exist called “Digital Health”.
On the other hand, one can observe that the Pharmaceutical Industry's clinical development lacks clinical reality and cost-effectiveness. As a result, the productivity of the market – expected to reach 500 billion dollars in 2025 – finds itself threatened.
Therefore, R&D costs are in constant increase – 1.188 M$ to bring a product on the market in 2010 vs. 2.168 M$ in 2018 – and returns on investments are lower than ever – 10.1% in 2010 vs. 1.9% in 2018.
Finally, at the end of the day, who suffers from this observation?
As a result, there are less alternative therapies on the markets and the few that are on the market are too expensive or don’t present sufficient input compared to existing competitors.
A Digital Technology Revolution, the only valid strategy to stay competitive:
This observation led pharmaceutical companies to solve their R&D productivity problems by acquiring small pharmaceuticals of biotechnology companies to renew their pipelines. This did not reduce their organic structure and have problems of developing a product without the necessary expertise (for example, stem cell or regenerative medicine). For this reason, today’s strategy for our industry is to make a digital transformation and enhance R&D through the use of digital tools and new digital technologies.
So, this is where RGL Research promises to make an impact. RGL Research will provide the industry with the expertise and experience of digital solutions, applied to product development and the clinical evidence collection.
Digital Technologies implementation in RGL Research clinical trials projects:
We are true believers that digital trials will bring solid, accurate, and real-life data, allowing more efficient Market access.
In addition, digital trials will provide decision makers with Business Intelligence solutions and real-time management. This will allow them to make faster decisions and gain agility and flexibility, two major keys in Life-Science.
In conclusion, RGL Research promises to be capable of conducting clinical trials in a 100% dematerialized and centralized environment. Using wearable devices to capture patients’ data in real time, allowing an increase in patient adherence, and facilitate investigator experience. This is led by our project managers on the other end of the planet, in total compliance with international regulations and national restrictions.
We look forward to sharing several articles about our vision for transforming the sector.