How To Secure Quality Trial Data That Delivers A Return On Investment

The clinical trial landscape has seen unprecedented advances in automated data collection. Cutting-edge technology enables the interrogation and aggregation of vast quantities of data, which brings with it significant challenges in analysis and interpretation.

Drug discovery and development is a long, costly, and a high-risk process. Trials need to be done quickly and efficiently to preserve as much time as possible from the drug’s patent life to gain a return on investment. The average for each new drug to be approved for clinical use is on average USD$1-2 billion. Moreover, according to the Center for Study Drug Development, over 80% of clinical trials fail as they cannot meet regulatory requirements, resulting in delayed drug commercialization and decreased peak sale volumes.

The pressure to complete research as quickly as possible has increased complexity of studies and so intensified the challenges in executing trials, raising the stakes on data quality and its return on investment. Data capture must be visible from the get-go for accurate and effective data analysis and interpretation. Accordingly, modern data capture tools must live up to unprecedented expectations, with clinical teams under significant pressure to choose the right ones.

According to Grand View Research, the global electronic data capture (EDC) systems market size is expected to be valued at USD 1.16 billion by 2025.