Data Challenges in Pharma R&DWednesday June 27th, 2018 Seema Surendran, Project Lead
Drug Discovery & Development is always a hot topic in the pharma industries that will have its own scientific and business challenges. Investments in Research & Development is expected to grow at a rate of 2.8% through 2022, according to a statistic.
Lot of data gathering is looked-for pharma industry specially R&D to arrive at workable solutions. There lies a real challenge in managing the humongous volume and variety of available data. Association with pharma companies, outsourcing partners, suppliers and/or distributors and relevant agencies confounds data management process more.
Apart for the above-mentioned challenges, other trials also prevail, as:
- Discrepancy of Data Sources
- Uncertainty around accuracy
- Inefficient analytics process
Though, there are multiple options up-and-coming in the pharma market to solve many of the problems, there are other major challenges too..!!
R&D in Pharma is a fascinating prospect. Novel ideas and new competent solutions are expected to fill the gap in the future. When such advanced technologies are leveraged correctly, the solutions will directly impact business growth leading to novel innovations helping mankind.