A recent study conducted by the Economist Intelligence Unit (EIU) and commissioned by PAREXEL suggests that accelerated adoption of innovations in drug development could boost the industry’s sustainability, STAT reports.
The study, titled “The Innovation Imperative — The Future of Drug Development,” looks at the potential industry impact of four novel innovations: adaptive trial design, patient-centric trials, real-world data trials and precision medicine trials.
According to the report, researchers found that each innovation could have a positive impact, but that a low adoption rate is among the key challenges facing the industry.
“The adoption rates of [these] innovations range form less than one percent to 14 percent,” PAREXEL Corporate Vice President Alberto Grignolo tells STAT. “This is striking, because one would expect these innovations, as impactful as [the report] documents them to be, would already be more widely adopted.”
To read the full report on STAT, click here.