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Clinical Trial Site Selection
The average cost to develop and gain marketing approval for a new prescription medicine is now $2.5 billion dollars and can take more than a decade1. On average, each protocol has 2-3 amendments which can delay a trial by many months and can add $500,000 in additional costs per amendment2. In addition, the majority of investigators complete only a single study meaning that accessing engaged investigators to recruit to studies can be difficult. Utilizing data-driven insights for country and site selection is therefore paramount for successful and cost effective drug development. PAREXEL’s unique ability to use data, and partner with our clients, sets the stage for a powerful co-creation of optimal country and clinical trial site selection.
PAREXEL’s country and site selection solution combines big data with the voice of the patient, the voice of the investigator, and predictive analytics to optimize the design of your trial, accelerate study start-up, improve execution and deliver data in easy-to-understand, visual formats to facilitate decision-making.
PAREXEL has the power to identify the right countries, the right sites, and the right patients. A data-driven approach to country selection takes into account all influential parameters needed to gain a better awareness of the risks associated with country and site selection. Turning data into knowledge enables high quality conversations and informs the discussion. This knowledge also enables PAREXEL and our clients to understand risk and plan accordingly.