Integrated Technology Solutions for Clinical Trials
It is estimated that the average cost per clinical trial participant is about $40,000. Historically, the cost of developing drugs has been significantly impacted by the associated costs of administering clinical trials. With drug development costs ranging on average between $1.3 billion and $1.7 billion (Collier, 2009), there is clearly a lot at stake. Mobile devices are quickly paying dividends for leading drug makers across the globe.
Reduction in Time
A recent study completed by the US Department of Health and Human Services identified that by making use of mobile technologies in clinical trials, that sponsors reduce time in phases 1-4 by 17.6%, on average. This reduction in time equates to a significant savings in clinical trial administration cost. (See Chart) Other studies have suggested that use of EDC and mobile devices have yielded a 30 percent decline in study duration (Neuer, Warnock, & Slezinger, 2010).
Improved Data Flow
Additional to the decreased time and resource demands, empowering clinical trial participants with real-time tools to measure and record information reduces errors in data collection. Historically, clinical trials, especially those involving multiple countries and languages, have faced unique challenges. As data from disparate sources is received, the need to manually process and translate requires trained staff. Electronic Data Capture (EDC) tools streamline this process and allow data to freely flow into centralized databases where it can be powerfully analyzed. This synchrony in data collection is invaluable to the overall cost, when considering that the cost of each clinical trial participant has a cost of approximately $40,000.
Companies like Integron have partnered with technology leaders in EDC, ePRO, eCOA to make these financial benefits a reality for leading pharmaceutical companies around the world.