There is a relatively major need for pharmaceutical market research apart from the core R&D functions. Therefore, outsourcing has opened up great opportunities for sponsors such as pharmaceutical companies, biotechnology companies and medical device companies by providing considerable research and development support in a cost-effective manner. Outsourcing clinical development as a whole or partially has become a significant strategy for the clinical research industry.
Clinical trials take approximately 12 – 15 years for discovery and getting a drug to market. As per a recent survey, the cost for conducting clinical trials has increased by 60% compared to five years ago. Sponsors in clinical research industry including Pharmaceutical, Biotechnology, Medical Device companies spend around $900m in getting every novel drug to market.
Clinical Monitoring is one of the most expensive components within a clinical trial study set-up and can account from anywhere between 27% and 35% of the overall cost within a research program. Since sponsors need to trim nearly $1.5 billion in costs and reduce the 12- 15 year time frame for getting a drug to market, outsourcing their project to CRO’s having expertise in all the clinical research domains has been quite helpful and a feasible option. It’s not just the cost reduction plan that sponsors look for but also for the value-added expertise that we provide in all aspects of clinical research, reducing both time and cost that’s typically required in study set-up.
We aim to carry out clinical operations while reducing cost and delivering maximum operational improvement within the specified time-frame. 86% of clinical trials experienced delays as reported by Applied Clinical Trials; also CenterWatch added that 81% of the delays were around 6 months timeframe whereas 5% took longer than that. We were able to successfully reduce the cost by 17% for one of our reputed clients who was a sponsor to 14-month Phase II clinical trial that involved cost-cutting in the areas of remote monitoring, fewer site visits, shorter patient recruitment periods, reduction in study set-up and database configuration cost, faster UAT, rapid data entry, and reduced data cleaning expenses.
RPM Alliance has experts in all areas of clinical research supporting the full spectrum of industry research services thereby achieving a flawless healthcare continuum. We are known to completely manage and provide strategic assistance for every phase of your clinical trial. We thoroughly analyze and drill down into minute detail as that is what our clients have come to expect from us.
We have our proven track record in supervising phase 1 to 4 clinical trials projects from beginning to end thereby providing an array of industry-leading services. We provide our clients with one or more stand-alone services depending on client preferences as a functional service provider to support their trial and complement their internal staff.
Supporting you throughout the drug development, study set- up, study configuration and analysis; our experts bring years of extensive experience in building a well-defined strategy to maximize the success of your clinical pipeline. We operationalize your protocol and meet deadlines time and time again ensuring successful project management undertaking all the sponsor trial management activities.