1、How Pharma CompaniesCan Optimize Clinical Trial Operations and Unlock ValueHOW PHARMA COMPANIES CAN OPTIMIZE CLINICAL TRIAL OPERATIONS AND UNLOCK VALUE1Clinical trials are the backbone of the pharmaceutical and biotechnology industries,with their global market size expected to exceed USD 78.3 billio

2、n by 20301.COVID-19,in addition to its long-term effects on health,has been a catalyst for this projection.However,lack of program governance,irregular contracting,delays in obtaining approvals and limited integration of technological systems can adversely affect clinical trial operations,with poten

3、tial impact to cost,quality,and time.Pharma businesses are under a great deal of pressure to expedite clinical trials and control costs while still People1.Number and type of stakeholders,decision impact,investments,etc.2.Organizations governance structure and strategic outlook3.R&D team capabilitie

4、s,COEs,etc.Process1.Role clarity across clinical trial process and compliance controls2.Streamlined and fully automated workflows3.KPIs,SLAs and performance dashboard across each milestoneTechnology1.Adequate technology implementation replacing archaic methods2.Analytical operations in study prepara

5、tion,sourcing,budgeting,etc.,in addition to AI-enabled decision support tools3.Adequate de-centralization of database for patient trial and control data,progress tracking,etc.juggling several stakeholder groups.The long,complex processes of clinical trials,in addition to the multiple stakeholders in

6、volved,affect their timing.The average delay in trials is over 12 months2,with further impact due to the resulting compounded costs.In this sector,where delays affect 85%of trials3 and ensuing cost impacts range from$600,000 to as high as$8 million4,it is imperative for organizations to be well-prep