Proper data utility has quickly become a characteristic of successful business operations. But data plays a vital role in more than just commerce; it is the key to saving lives.

Before any medicine becomes accessible to consumers, it has to pass through strenuous security measures. Countries dedicate a government department that assesses the results of a medicine’s clinical trials before it gives the pharmaceutical the green light for sales.

In the US, it can take over 10 years and $350 million in expenses for a ready-drug to become available to consumers.

The US accounts for nearly half of the pharmaceutical market and a majority of the largest pharmaceuticals are either based there or having a functional laboratory there. So, it is good that the authorities there take proper precautions before approving a drug, but the strenuous nature of the safety stages can greatly prolong drug deployment.

Developing a drug is only the first step. Gaining government approval breaks down into several sub-steps that place pharmaceuticals in a long journey. In the US, if the FDA (Food and Drugs Administration) approves the investigation of a drug, it will carry the drug into 3 stages of clinical trials which can collectively take up to 6 years to complete. After this, the complied data is submitted to the FDA and the company may get an approval in approximately 2 to 3 years.

The FDA’s cautious approach to drug approval is justifiable and understandable. However, the lengthy timeline each stage takes can be improved. At present, it takes considerable amounts of time for clinical trials to gather the data needed for the final FDA approval; efficiency in clinical trials’ procedures is the key to speeding drug deployment.

Harnessing the Power of Data

Data plays a vital role in medicine all the way from medical research to the final approval of a medicine. It should also play a vital role in efficiency of a medicine’s deployment.

A new blockchain project, ClinTex, aims to leverage a decentralized data hub along with a collection of decentralized applications to provide pharmaceuticals with the resources needed to improve the efficiency in data trials.

The applications ClinTex provides allow clinical trial managers to gain operational oversight.

This oversight then twines into other ClinTex applications which allow the trial manager to visualize data being generated throughout the trials, thereby providing the opportunity to take a to make decisions that may halt issues before they happen.

Perhaps the most vital resource ClinTex provides is predictive analytics. There’s a limit to what clinical trial manager may detect, and so ClinTex places the data being generated throughout the operational oversight and from clinical data sources to develop actionable forecasts, enabling machine-learning that can connect datasets at a rate far superior to any human. This enables a real-time flagging of issues along with potential resolution measures.

ClinTex is paving the way for proactive resolution of issues that occur during clinical trials. This does not cut down the amount of safety precautions governments take when approving drugs—and it rightfully should not.

Instead, ClinTex provides the technology to ensure that stages of drug approval can be cleared with greater efficiency by tackling any unwanted disruptions in clinical trials on a constant basis through the utilization of data analytics and machine learning.