The Insurance Implications Of Global Clinical Trials

By Lee Farrow

The COVID-19 pandemic underscored the importance of global clinical trials as the life sciences industry sprinted toward a vaccine for the virus. While the speed and efficacy of such lifesaving work were thrust into a sudden spotlight, the clinical trial space has been progressing rapidly for many years.

Global clinical trials have grown tremendously over the past two decades, in total number and in complexity. In 2000, 2,119 clinical trials were registered with ClinicalTrials.gov. In the years since, the volume of trials has increased dramatically — 37,027 trials were registered in 2021 alone. As the market expands on an international scale, so, too, must the risk-management capabilities of the firms conducting these trials.