Research funding of medical product development Essay Example for Free

inquiry geting of medical product development EssayAlzheimers disease is wizard of the most common ailments in adults especially the old. Over 26.6 million people around the world be affected by the disease with an increase expected in the coming years. So far, there has been no established cure for the disease whose results ar pain and suffering in the patients and death. With these facts, look that can take on to success in tackling this global calamity would be instrumental and welcome. This makes it critical and worth for any(prenominal) mildew of reenforcement to be provided in any question towards elimination of the same. The document evaluates the various forms of financial support gettable which would help in the research to develop a novel compound critical in controlling and even curing the disease.DiscussionNational governments argon one of the biggest sources of funding for clinical research. Various governments manipulate aside some money in their He alth sector budget of which a big chance includes money for research. The government funding programs operate locally or inter studyly (Murray Johnston, 2010). An example in subject government funding is the NIH (National bring in of Health) which through its various sections such as the National Human Genome Research Institute provides funding for research projects in America (Kulakowski, 2006). For the case of research in Alzheimers disease, national funding is through the National Institute on Aging. Government funding is beneficial in that they are not discriminative compared to funding from other sources such as organizations. However, one disadvantage is that the funds whitethorn take long thus jeopardizing the research (Kaitin, 2010).Associated closely with national governments and also a source of funding are government agencies. Agencies operate both nationally and internationally (Shaw, 2005). An example of such an agency is the subdivision of Energy in America. The agencies provide the funds to different sub-divisions of research areas, for example, the Human Genome Project section which may assist in developing the compound identified (Boss Eckert, 2006). With their international operations, the benefit is that the agencies will fund any project that fulfills its requirements. One disadvantage however is that agencies are prone to manipulation and thus may be biased in funding projects due to political differences (Smith, 2006).Another source of funding for scientific research projects are foundations. These entities have a wide range of research requirements and interests (Hulley, 2007). Some of the foundations will be particular(prenominal) in the areas they want to fund such as the American Cancer Society that focuses on Cancer. Others are open for any research in any area such as the Howard Hughes Medical Institute which provides funding for various areas, for example, Alzheimers disease (Reinhart National Research Council, 2006). Brig htfocus introduction and Alzheimers Research Foundation are some of the foundations that focus on funding Alzheimer based research (Financing roundup, 2008). The benefit in victimization foundations is that they span a wide range of research areas thus a big chance of macrocosm funded (Clinical research in Finland in 2002 and 2007, 2013). There is a disadvantage in that funding from foundations is subject to misapplication through vices such as corruption affects the operations (Cambron, 2008).Many souls have been known to offer closed-door funding for research projects all over the world. Wealthy individuals are now funding scientific research institutions or individual based ones (Page, 2012). Armand Hammer, former chairman of Occidental Petroleum Corporation is an example. For his case, he provided funding for cancer related projects (Lee, 2010). Another example is Ronald Perelman and Lilly Tartikoff who funded the Revlon/ UCLA womens Cancer Research Program under the leade rship of Salmon (Bazell Bernstein, 1998). One advantage of funding from individuals is that there are no rigorous processes involved in obtaining the funds like is the case with government agencies and foundations. A disadvantage in using the same is that individual funding may be withdrawn when differences arise thus stalling the research (Kullmann, 2006).ReferencesBazell, R., Bernstein, A. (1998). Her-2 The making of herceptin, a revolutionary treatment for breast cancer. New York Random House.Boss, J. M., Eckert, S. H. (2006). Academic scientists at work. New York, NY Springer.Cambron, J. (2008). Grant funding for elderly health services (6th ed.). Manasquan, NJ Health Resources Publishing.Clinical research in Finland in 2002 and 2007 criterion and type. (2013). BioMed Central.Financings roundup.(Harvard University Office of Technology Development is funding for research projects in biomedical and life sciences )(Report). (2008, February 11). Medical cheat Week.Hulley, S. (2 007). Designing clinical research (3rd ed.). Philadelphia, PA Lippincott Williams Wilkins.Kaitin, K. (2010). (video) Research funding of medical product development.Kulakowski, E. (2006). Research governing and management. Sudbury, Mass. Jones and Bartlett.Kullmann, P. (2012). The Inventors Guide for Medical Technology From Your Napkin to the Market. Minneapolis Hillcrest Media Group.Lee, J. (2010). Biomedical engineering entrepreneurship. Singapore World Scientific.Murray, T. H., Johnston, J. (2010). Trust and single in biomedical research The case of financial conflicts of interest. Baltimore Johns Hopkins University Press.Page, P. (2012). An introduction to clinical research. Oxford Oxford University Press.Reinhart, G. R., National Research Council (U.S.). (2006). Enhancing philanthropys support of biomedical scientists Proceedings of a workshop on evaluation. Washington, DC National Academies Press.Shaw, G. (2005, October). Tapping Alternative Sources Funding beyond the NIH . G P, 5(8)12-18.Smith, C. (2006). The process of new drug discovery and development (2nd ed.). New York Informa Healthcare.Source document