SOCIO-ECONOMIC IMPACT OF CLINICAL RESEARCH IN VARIOUS COUNTRIES

Abstract

This article attempts to outline the socio-economic impact of clinical research in sample geographies from around the world. With an attempt, we could sample geographies that largely represent varied population - from developed markets to developing markets, from poor to rich countries, from countries seeing increase in clinical research to countries that are struggling to retain clinical research. In absence of any research/ survey that can map socio economic impact at global level, this article best describes the general trends at least, if not a truly global view. Largely, there are two impacts which are quite visible across all of the sampled geographies. The first one is that the advent of clinical research in any geographies have led to a palpable increase in the standards of medical care in that geographies. This is probably driven by essential training that researchers go through and thereby learning the GCP - Good clinical practice. Another effect is a definite increase in the standards of medical infrastructure, once the clinical research started. This is a reflection of the fact that general population has benefited by investment made by sponsor companies to perform clinical research. The second impact is that the effect of Clinical research activities on economy is also uniformly positive. This results from new job creation that leads to downstream economy. But additionally, it also follows from having healthier humans (those who received medical benefits of clinical trials) who pay more taxes and who further pedals the economy by spending. All in all, the size of these benefits (as measured in various markets) is significant enough not to loose on them and many countries are actively pursuing clinical research to get these benefits.