We live in a time when the medical advancements that have been made are changing lives. It is also a time, however, where there are still many problems to solve and conditions to cure. With the use of clinical trials and medical studies, however, there are many scientists, doctors, and researchers who hope to continue to solve even more difficult questions.
The process of getting new drugs and procedures approved, however, is both complicated and expensive. Part of these complications and expenses come from the fact that there are many government guidelines and procedures in place to make sure that this work is both accurate and safe. In fact, clinical research organizations must spend a great deal of time making sure that they are in compliance and following all of the guidelines are in place.
From Phase 1 clinical trials to the completion of Phase 3clinical trials, there is a large amount of money, time, and energy invested. The goal of all of these resources, however, is to make sure that the nation as a whole benefits from new and effective treatments. Consider some of these facts and figures about the medical research field and the clinical studies that are in place to help our future children lead a better life:
- There are an estimated 100,000 over-the-counter drug products marketed and sold in U.S. stores, according to a 2016 report from the International Trade Association. All of these products were required to go through clinical studies before they could be put on the market.
- Five of the world’s leading 11 research and development firms in the year 2014 were pharmaceutical companies. according to The International Federation of Pharmaceutical Manufacturers and Associations.
- The research-based pharmaceutical industry spent $149.8 billion on research and development as of 2017, according to The International Federation of Pharmaceutical Manufacturers and Associations.
- Predictions are that the global pharmaceutical industry will grow to reach a total value of $1.43 trillionby the year 2020, according to the International Federation of Pharmaceutical Manufacturers and Associations.
- Many research companies are constantly looking for people who are willing to be part of a clinical trial.
There are time when we take some of the latest medical advancements for granted. For those who are in the research and development industry, however, their days are filled with detailed guidelines and specific procedures to make sure that we continue to make progress in a variety of fields. From alzheimers research studies to diabetes clinical trials, today’s research will drive the progress that benefits our children and grandchildren.