The eClinical Equation Part 1 – Electronic Data Capture
Clinical trials play a key role in the pharmaceutical industry (Pharma), and also account for much of its expenditure on research and development (R&D). In 2003 (the latest year for which information is available), the member companies of the U.S. trade body Pharmaceutical Research and Manufacturers of America collectively spent more than US$14 billion on clinical
development, including Phase IV trials.
But huge though this sum is, it is far less than the money the industry will spend in the future. A report recently published by Frost & Sullivan suggests that the cost of clinical development has soared 40 percent over the last ten years, largely as a result of higher attrition rates. For various reasons, this trend is likely to continue.
