Software tools that allow for data sharing, communication, and virtual meetings help groups work together regardless of location, taking the research process to a much larger group of stakeholders.
Fremont, CA: Medicine is the prime focus of modern biotechnology. In this sector, small startups, multinational pharmaceutical companies, and government research agencies invent and develop new treatment options for rare and complex diseases, as well as genetic tests to identify inherited diseases with more clarity. Other fields of biotechnology include alternative energy, agriculture, and environmental science.
Let us look at some important trends in biotechnology:
Increased Stakeholder Collaboration
Cloud computing provides the ability to support collaboration among stakeholders that represent different organizations, whether it is startups, multinational companies, academic institutions, or government research organizations. Software tools that allow for data sharing, communication, and virtual meetings help groups work together regardless of location, taking the research process to a much larger group of stakeholders. Projects in the field of biotechnology often involve larger teams working together. Many projects take years to receive regulatory approval. With increased collaboration, biotechnology professionals and organizations need to consider intellectual property protection for their innovations.
The cost for genetic sequencing has been reduced from $2.7 billion for the Human Genome Project in 1990 to less than $300 today, accommodating much more extensive screening of trial participants and targeting of interventions. This has supported the development of personalized treatment plans and targeted therapies, which are more effective than less-specific therapies because they focus on a patient’s genetic and molecular formation. Cancer treatment is a prime area of focus for targeted therapies.
Clinial Trials Evolution
A variety of technological advances has revolutionized the clinical trial process. Few years back, clinical trials used to be a very manual process, which required participants to go to a clinic in-person to receive treatment and record their symptoms and side effects on paper. Furthermore, drug manufacturers typically needed to recruit a large number of participants to get the right sample size. But, now the clinical trial has been digitized successfully, empowering biotech companies to test treatments on more patients in less time.