Vineet Bhatt28 Sep, 2024Technology
Clinical trials are the regulatory mechanisms agencies like the Food and Drug Administration (FDA) use to evaluate and review evidence of safety and efficacy of investigational medicines in humans. With the cost of discovery and development of one novel therapy exceeding $2.5 billion over a duration of 10-15 years, according to a 2018 PhRMA report, initiating, conducting, and successfully completing a clinical trial of any kind is one of the most complex endeavors. A major driver of both time and cost is the challenge of patient enrollment.
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