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The Ultimate Guide to Pharma Data 2021
What is Pharma Data?
As a cornerstone of the healthcare system, the pharmaceutical industry is involved in extensive research and development (R&D) as far as diseases and drugs are concerned. In addition to R&D, pharmaceutical companies are also directly involved in the distribution of these developed medications as well as instituting mechanisms through which the right patients receive the right prescriptions at the time they need it. All this crucial work that pharmaceutical companies do to drive the healthcare system is fuelled by data analytics and data science.
How is Pharma Data collected?
Pharma data collection and analytics are critical to the future of the pharma industry. Close to 40% of pharma professionals agree that pharma data holds the key to the future transformation of the industry. Modern digital technologies have fostered the ability to rapidly and efficiently collect, store, analyze, and transmit data on a large scale, resulting in the unlocking of huge potential in clinical development, customer engagement, and patient safety. Pharma data collection can be identified in terms of sources that include primary and secondary data sources.
Primary sources of data
• Clinical trials
• Direct patient testimonials
Secondary sources of pharma data
• Medical-related websites
• Medical journals
• FDA database
What are the attributes of Pharma Data?
With the collection of enormous amounts of data, pharmaceutical companies are breaking new grounds as far as saving on expenditure while managing patient safety, controlling risks, bolstering the efficiency of clinical trials, and enhancing collaboration with other industry members is concerned. Some of the key attributes of pharma data that have helped pharma companies realize this transformation includes:
• Clearly outlined strategies in research and development programs
• Research and development agenda
• Manufacturing data concerning product ranges and the manufacturing process for each range
• Distribution data on multiple channels of dissemination and storage in the supply chain
• Data on the pricing of developed products
• Pharma data on marketing and sales strategies.
What is Pharma Data used for?
Pharma data is important to users for several reasons. First, it fosters predictive modeling of biological processes hence enhancing the sophisticated nature of drugs. Pharma companies can enhance their predictive modeling capabilities by taking advantage of the diversity of existing molecular and clinical data to point out new molecular models that are target-specific and safe to use. Secondly, pharma data also helps pharma companies accurately select patients and enroll them for clinical trials based on more sources. By the power vested in digital media and social media, reaching out to new volunteers to take part in clinical trials has become a great deal simpler, thanks to data-driven outreach. Lastly, pharma data can also be used for real-time monitoring of clinical trials of new drugs while at the same time enhancing collaboration among industry stakeholders.
How can a user asses the quality of Pharma Data?
Pharma data can contain sensitive information and PII. Therefore, when assessing the quality of this data, users should look to ascertain its accuracy and safety aspects. Because pharma data is usually collected to enhance clinical trials for new drugs that are under development, the data used must be accurate enough to guarantee the safety of patients involved in the trials. Additionally, when assessing the quality of pharma data, the aspect of time is also important. Collecting medical data is a rigorous process that involves testing and trying out new methods and analysis to ensure quality. As such, this means that quality pharma data cannot be derived from unreliable sources using rushed methodologies.
Who are the best Pharma Data providers?
Finding the right Pharma Data provider for you really depends on your unique use case and data requirements, including budget and geographical coverage. Popular Pharma Data providers that you might want to buy Pharma Data from are RxData, Evaluate, Advera Health Analytics, Nomura Research Institute (NRI), and IHS Markit.
Where can I buy Pharma Data?
Data providers and vendors listed on Datarade sell Pharma Data products and samples. Popular Pharma Data products and datasets available on our platform are Medical Prescription Hand written Data - Raw / Annotated data by Automaton AI and Medical Printed Prescription Dataset by Automaton AI .
How can I get Pharma Data?
You can get Pharma Data via a range of delivery methods - the right one for you depends on your use case. For example, historical Pharma Data is usually available to download in bulk and delivered using an S3 bucket. On the other hand, if your use case is time-critical, you can buy real-time Pharma Data APIs, feeds and streams to download the most up-to-date intelligence.
What are similar data types to Pharma Data?
Pharma Data is similar to Medical Imagery Data, Electronic Health Record (EHR) Data, Healthcare Provider (HCP) Data, Patient Data, and Clinical Data. These data categories are commonly used for Pharma Data analytics.