While the majority of modern medicines are results of hard work, dedication and insight, it is important to recognise that their presence would not have been possible without the addition of substantial research funding. Why is this funding so very important and what impacts can it have upon the treatment and prevention of many illnesses?
The Financial Factor
Much of the publicity regarding a new drug or treatment revolves around the doctors themselves, the patient prognosis and the overall impact of a novel approach. Still, research funding is what has made such advancements possible. The capital that is provided allows for the procurement of medical equipment, the employment of sciences, the supervision of clinical trials and the actual production of medication. Without such vast amounts of liquid financing, many advancements would very literally remain nothing more than dreams.
The Trial Process
There are a great many steps which are involved between inception and distribution. For instance, the FDA (Food and Drug Administration) conducts no less than three separate phases before approving any drug for human use. This can take years to accomplish before a treatment is deemed safe. During this extensive time period, research funding is needed to keep any project alive. Derived through government grants, public taxes and private investment, these funds are the very “life blood” of any research programme.
So, it is clear to appreciate the massive impact that funding will have in regards to medical and scientific progress. As this industry continues to advance, even larger amounts of capital may be needed to secure a safe and healthy future for mankind.