CATEGORY
Academic Research
R&D collaboration in the discovery phase that accelerates innovation.
Beroe LiVE.Ai™
AI-powered self-service platform for all your sourcing decision needs across 1,600+ categories llike Academic Research.
Market Data, Sourcing & Supplier Intelligence, and Price & Cost Benchmarking.
Academic Research Industry Benchmarks
Savings Achieved
(in %)
The average annual savings achieved in Academic Research category is 2.90%
Payment Terms
(in days)
The industry average payment terms in Academic Research category for the current quarter is 101.3 days
Compare your category performance against peers and industry benchmarks across 20+ parameters on Beroe LiVE.Ai™
Category Strategy and Flexibility
Engagement Model
Supply Assurance
Sourcing Process
Supplier Type
Pricing Model
Contract Length
SLAs/KPIs
Lead Time
Supplier Diversity
Targeted Savings
Risk Mitigation
Financial Risk
Sanctions
AMEs
Geopolitical Risk
Cost Optimization
Price per Unit Competitiveness
Specification Leanness
Minimum Order Quality
Payment Terms
Inventory Control
The World’s first Digital Market Analyst
Abi, the AI-powered digital assistant brings together data, insights, and intelligence for faster answers to sourcing questions
Academic Research Suppliers

Find the right-fit academic research supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.



Use the Academic Research market, supplier and price information for category strategy creation and Quaterly Business Reviews (QRBs)
Academic Research market report transcript
Global Market Outlook on Academic Research
- The global ARO market is around $215–230 million and is experiencing a growth rate of 8–10 percent.
- The failure rate of drugs especially in therapeutic areas has increased to an extent that there will be a greater reliance on academic engagements by the pharmaceutical players
- The market size is indicative of the total revenue earned through pharmaceutical players through various contracts and does not include the grants
Cost & Pricing Analysis
Clinical Trial Cost Structure
- The major cost of investment lies in site monitoring and management, and data management, statistics, regulatory & QA
- Complexity and duration of the trial are the major cost drivers
- Various parameters like the number and location of the sites, patient recruitment (number of patients to be recruited), timelines are determined by the above mentioned parameters
Principal Investigator Salary
- The average hourly wage of a Principal Investigator ranges from 60–70 $/hour
- Certain organizations like NIH pays around $70/hour
- Network of the investigator and relevant experience are the factors determining the salary
Academic Research: Drivers and Constraints
Drivers
Failure Rate of Drugs:
- The failure rate of drugs has increased dramatically over the years and thus an Increase in the drug development cost. Currently, only 0.4 drugs get developed per billion dollar spending. By extrapolating the current trend, hardly any drugs will be produced per billion dollar spending by 2023
Requirement of technical/therapeutic area expertise
- The subject matter expertise provided by the therapeutic area experts is unmatched in various areas. Therefore, the analysis provided by the academia experts and thus the pharmaceutical players have to engage the academia, either for the execution of the entire clinical trial or for specific functions like analysis, regulatory, etc.
Adoption of Open Sourcing/Innovation models among the pharmaceutical players
- There is an increased adoption of open sourcing/innovations among the pharmaceutical players, by engaging various CROs, academia and peer pharma
Constraints
Increased lead time of the engagements and also the process
- Increased lead time of the academia in conducting the clinical trials may decrease the demand/adoption of hybrid trials (both CRO and academia are engaged)