| Clinical Trial Industry Needs to Leverage DX to Secure Various Advantages such as Time and Cost Savings
| Domestic CROs see Revenue Growth but Profitability Decline, Likely Due to Increased Labor and Expense Costs
| Domestic and International Clinical Digital Solutions Highlighted for Enhancing CRO Profitability and Growth Through DX Efficiency
The integration of digital transformation (DX) within the medical and bio industries is gaining momentum, with a growing call for its application in clinical trials to improve new drug development and pharmaceutical efficacy. Historically, clinical trials have required significant time and resources, but digitization promises various benefits such as time and cost savings and high-quality data, enabling more advanced research.
According to the Financial Supervisory Service's report on the revenue and operating profit trends of major Contract Research Organizations (CROs) last year, despite expanded operations, profitability has declined. This is attributed to rising labor costs and other expenses.
To address this, international companies are actively adopting digital technology-based clinical solutions to enhance CRO profitability. The domestic market is following suit. Having experienced advanced digital clinical solutions at reasonable costs during the COVID-19 pandemic, domestic CROs are also exploring and adopting digital solutions to secure profitability.
■ JNPMEDI's Cost-Effective, High-Efficiency Digital Clinical Solution 'Maven Clinical Cloud'
A prominent domestic example is JNPMEDI. The healthcare data platform company ▲JNPMEDI has developed, and operates the 'Maven Clinical Cloud,' an advanced digital technology-based clinical trial platform, leading the digital transformation of the domestic clinical trial industry.
JNPMEDI's clinical operation and data management solution, offered as a Software-as-a-Service (SaaS), significantly reduces time and costs compared to traditional clinical trial methods, providing higher efficiency. The pay-as-you-go pricing model allows users to select only the necessary services and pay for what they use, enhancing cost-effectiveness. Additionally, its blockchain-based solution ensures data integrity, high reliability, and global-standard advanced technology, attracting industry attention as a new alternative for next-generation clinical research.
Key services of the Maven Clinical Cloud include the 'Maven DCT Suite' for supporting decentralized clinical trials (DCT), the 'Maven Docs' clinical trial document management solution, and the 'eCOA (Clinical Outcome Assessment)' for collecting clinical data via mobile devices. By digitizing the entire clinical trial process, from participant recruitment and consent to data collection, monitoring, and screening, it maximizes benefits for all clinical stakeholders, including hospitals, pharmaceutical companies, clinical trial centers, and CROs.
Furthermore, JNPMEDI has obtained Platinum Membership from the 'Clinical Data Interchange Standards Consortium (CDISC)' and rapidly incorporates the latest guidelines from the US Food and Drug Administration (FDA) into its service design. This continuous enhancement aligns with global standards, ensuring the delivery of high-quality services.
The active development and implementation of digital solutions within the clinical trial industry promise not only to improve efficiency and data quality but also to significantly enhance the profitability of CROs, helping them navigate the challenges posed by rising operational costs and competitive pressures.
| Clinical Trial Industry Needs to Leverage DX to Secure Various Advantages such as Time and Cost Savings
| Domestic CROs see Revenue Growth but Profitability Decline, Likely Due to Increased Labor and Expense Costs
| Domestic and International Clinical Digital Solutions Highlighted for Enhancing CRO Profitability and Growth Through DX Efficiency
The integration of digital transformation (DX) within the medical and bio industries is gaining momentum, with a growing call for its application in clinical trials to improve new drug development and pharmaceutical efficacy. Historically, clinical trials have required significant time and resources, but digitization promises various benefits such as time and cost savings and high-quality data, enabling more advanced research.
According to the Financial Supervisory Service's report on the revenue and operating profit trends of major Contract Research Organizations (CROs) last year, despite expanded operations, profitability has declined. This is attributed to rising labor costs and other expenses.
To address this, international companies are actively adopting digital technology-based clinical solutions to enhance CRO profitability. The domestic market is following suit. Having experienced advanced digital clinical solutions at reasonable costs during the COVID-19 pandemic, domestic CROs are also exploring and adopting digital solutions to secure profitability.
■ JNPMEDI's Cost-Effective, High-Efficiency Digital Clinical Solution 'Maven Clinical Cloud'
A prominent domestic example is JNPMEDI. The healthcare data platform company ▲JNPMEDI has developed, and operates the 'Maven Clinical Cloud,' an advanced digital technology-based clinical trial platform, leading the digital transformation of the domestic clinical trial industry.
JNPMEDI's clinical operation and data management solution, offered as a Software-as-a-Service (SaaS), significantly reduces time and costs compared to traditional clinical trial methods, providing higher efficiency. The pay-as-you-go pricing model allows users to select only the necessary services and pay for what they use, enhancing cost-effectiveness. Additionally, its blockchain-based solution ensures data integrity, high reliability, and global-standard advanced technology, attracting industry attention as a new alternative for next-generation clinical research.
Key services of the Maven Clinical Cloud include the 'Maven DCT Suite' for supporting decentralized clinical trials (DCT), the 'Maven Docs' clinical trial document management solution, and the 'eCOA (Clinical Outcome Assessment)' for collecting clinical data via mobile devices. By digitizing the entire clinical trial process, from participant recruitment and consent to data collection, monitoring, and screening, it maximizes benefits for all clinical stakeholders, including hospitals, pharmaceutical companies, clinical trial centers, and CROs.
Furthermore, JNPMEDI has obtained Platinum Membership from the 'Clinical Data Interchange Standards Consortium (CDISC)' and rapidly incorporates the latest guidelines from the US Food and Drug Administration (FDA) into its service design. This continuous enhancement aligns with global standards, ensuring the delivery of high-quality services.
The active development and implementation of digital solutions within the clinical trial industry promise not only to improve efficiency and data quality but also to significantly enhance the profitability of CROs, helping them navigate the challenges posed by rising operational costs and competitive pressures.