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Applied Clinical Trials
Many factors affect a sponsor's decision to pick a region in which to conduct a clinical trial. Clinical grant expenditures represent a significant portion of later phase clinical trial budgets. Therefore, the relative cost per visit can play a large role in which region to select.
Figure 1. Cost per visit rate trends, 2008-2010 and 2011-2013.
IMS Health's current analysis demonstrates that the cost per patient visit in the newer, emerging geographies, is growing more rapidly than in more established regions. The established regions (Western Europe, US/Canada, and Australia/New Zealand) have been averaging 8% annual increases from 2011-2013, while grant costs in developing regions (East Asia, Latin America, and Eastern Europe) are growing at two to three times those rates with an average of 23%. Even if these emerging regions are starting off on a lower base as compared to well established regions, the rapid rise in cost in these regions warrant careful consideration in the coming years.
—IMS Health (for more information contact firstname.lastname@example.org)