A 150 percent increase in clinical trials since 2010 has spurred the industry to develop new ways to prioritize effective oversight, a streamlined process and data accuracy.
Pharmaceutical, biotechnology and medical device companies continue to grow at a robust pace, due to strong spending on research and development, the rise of biopharmaceuticals and the increased health care needs of an aging population. These factors have led to a booming demand for ways to conduct for the clinical trials needed to ensure product safety and effectiveness.
The industry landscape
Globally, there are more than 266,000 open clinical trials, up from around 100,000 in 2010 — an increase of more than 150 percent. In the U.S. alone, there are currently more than 105,000 open clinical trials, most involved in investigating a drug or biologic, behavioral intervention, surgical procedure or device.
The industry’s positive outlook has also driven increases in merger and acquisition activity, growing use of functional service providers and contract research organizations, and even more funding and investment. A more streamlined Food & Drug Administration approval process adopted in recent years has also had an impact.
Other current trends in the industry include pharma companies expanding into medical device manufacturing and the development of genomics and drugs tailored to the unique genetic profiles of individual or specific diseases. Due to the volume of information being collected and analyzed, data security is also of extreme interest among companies that sponsor clinical trials.
Most companies have multiple product lines in development, increasing the opportunities for a successful new breakthrough in the marketplace. The financial advantage of being first-to-market with new products is considerable, which is why every company is looking for that blockbuster drug or treatment.
Challenges in clinical trials
For many pharmaceutical, biotechnology and medical device companies, there challenges to managing the lengthy process of clinical trials:
The EASi Sciences solution
Building on its success in the engineering sector through EASi Engineering, as well as accomplishments in the clinical and scientific sectors through Aerotek, EASi Sciences has recently launched as a clinical and scientific resource management and global functional service provider.
EASi Sciences is well-positioned to address clients’ most significant pain points, through flexible models that provide solutions to meet their fluctuating business needs.
To ensure consistent operation with no costly interruptions, EASi Sciences provides resources specifically dedicated to each clinical trial. Reliability and a streamlined hiring process are further enhanced by Aerotek’s many years as a staffing leader, with expertise in recruiting, screening and onboarding the technical talent best qualified and matched to handle each project.
To help ensure retention, each project also benefits from a dedicated project manager with access to tools such as bonuses and other compensation.
Visibility, accountability and access are key deliverables for clinical trials using FSPs. By offering functions or work in-house, EASi offers real-time access to resources and project information, ensuring more client control. And perhaps most importantly for many clinical trials managers, FSPs such as EASi can offer far more budgetary controls.
If you’d like to learn more about how EASi Sciences can help you manage your clinical trials in a cost-effective way, contact us now.