SOURCE: MarketResearch.com

MarketResearch.com

December 13, 2010 11:08 ET

New Technologies to Lower-Cost of Clinical Trials

ROCKVILLE, MD--(Marketwire - December 13, 2010) - MarketResearch.com has announced the addition of BCC Research's new report "The Clinical Trials Business" to their collection of Biotechnology market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=6007207

The mapping of the human genome has opened new possibilities for the development of new medications to treat disease. Genomics, the emerging field of study resulting from the Human Genome Project, is coupling with bioengineering technology and biotechnology, producing accelerated development of new and novel treatments.

At the same time, existing biochemical techniques are advancing to enhance the process of biotechnological research. X-ray crystallography and combinatorial chemistry are two examples of increased modernization. As discovery technologies more quickly determine greater numbers of targets, greater numbers of compounds will be reaching the clinical trial phase of development sooner.

New technologies and the outsourcing of clinical trials to lower-cost countries will slow the recent annual increases in expenditures in the U.S. to a 3.3% compound annual growth rate (CAGR) over the forecast period. Clinical trial spending in 2010 is an estimated $25 billion and is expected to reach $28.5 billion by 2014.

In 2010, the number of clinical trials in the U.S. is 25,992. This number is expected to increase at a 5.7% compound annual growth rate (CAGR) to reach 32,318 in 2014.

Pharmaceutical and biotechnology companies devote a greater percentage of their budgets to R&D than does any other U.S. industry. In 2009, the pharmaceutical industry invested 34.8% of sales in domestic R&D. In 2014, this percentage is projected to increase to 48.8, a 7% compound annual growth rate (CAGR).

For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=6007207

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