The drastic increase in the number of clinical trials performed worldwide is leading to a sharp rise in R&D expenditure incurred by life sciences companies. To overcome this challenge, companies are targeting clinical trials to achieve higher efficiencies, which will bring new drugs faster to market and reduce R&D cost burden. The solution lies in the technology revamp of future clinical trials, which is driven by implementation of effective business analytics solutions, the commoditization of hardware components, and the rise of Internet technologies offering big data analytics.
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