Pharmaceutical and biopharmaceutical companies are currently confronted by a variety of complex issues affecting their operational efficiency and profitability. However, firms in the industry have recognized the opportunities and advantages that can be accessed by conducting clinical trials in the emerging markets.
Issues concerning the costs associated with drug development have been identified as: escalating costs associated with clinical trials, the global increase in the number of studies conducted, longer R&D development times and increased attrition rates during research.
The fees paid to clinical trial investigators are dependent on a variety of factors, including the therapeutic area, the study's location, the phase of the trial, the number of patient visits by the investigator, the type and number of procedures conducted, the affiliation and eminence of the investigator and the duration of the trial.
Traditionally, local hospital pathology departments were used to provide laboratory safety data for clinical trials. In the early 1990s, the concept of the central laboratory was developed and implemented by laboratories delivering services to major pharmaceutical companies.