what are the economical implications of clinical trials?

[wanghankun]

how does clinical trials impact our economics? how much does clinical trails cost in averag?

[physica]

This is a very vague question. Cost and outcome varies depending on the trial. If there's 10 year follow ups etc the cost will change dramatically. Ethics and regulation is also a huge area that varies. One myth that many people believe is that increasing regulation will help, however, in the UK this has just made it worse. Mainly big corporations only have the resources to rinse through the red tape in turn making independent researches and universities stay in the game as long as they have the corporations backing and approval. I've worked in a research unit for a short time that was solely set up to provide a service of slamming through trials for companies as quickly as possible. There's a whole industry based on getting trials through regulation and they sell their services and facilities to these pharmaceutical companies.

 

Clinical trials is a massive industry. In terms of the science some of the worst most shoddy science I've seen has been on clinical trials but you can become very rich with very little brain power as long as you keep your finger on the technicalities of the excessive regulation and abuse it. In theory I guess it could be good for the economy as a load of people with very mediocre skill sets can make a lot of money.... however, you have to know how much of that was rinsed off the government or charities. I attended a 3 course dinner with open bar and live music at the Wardolf hotel in London. Imagine how I felt when I found out that the posh evening of patting each other on the back was paid for by medical research charities.

 

Clinical research isn't cost efficient by far but it does keep money flowing. As my area is science I don't really know enough economics to really give a reasonable economic analysis. Hopefully someone with more economic knowledge can read my post and elaborate on this. I suggest this thread should be moved to the political science area.

[CharonY]

Well, I would separate clinical research and trials as, although related, they are are often conducted in a very different manner. The major differences being whether it is really still in the research stage or moving towards the applied area. The former is often conducted within academic units, especially very basic aspects, the latter is usually more associated with private industry, although in many cases it can be in the form of university startups or similar.

A trial is less part of research but is conducted more by medical and administrative oriented personnel. And yes, it is expensive. But in isolation and without proper context it is pretty much meaningless to muse about economic impact.

[between3and26characterslon]

The impact of clinical trials is far far less than the impact of not doing them!