Clinical Trials
Market, Supplier, Risk and
Competitive Intelligence

Industry Outlook & Drivers

Clinical Trials Global Market Outlook:

Market Growth:

Global Clinical Research Organisation Market - $42.3 billion in 2020E

CAGR – 7.6%

Market Drivers:

• Increased focus of pharma on large molecule therapy, rare diseases, specialty treatment, point of care assays, and personalized therapy & devices
• Greater investment in technology and data

CRO Market Size

• The global CRO market was estimated at $42.3 billion in 2020E, and it is expected to grow at a CAGR of 7.6% percent to reach $49.9 billion by 2022F
• This is due to the increased outsourcing seen from the pharmaceutical and biotechnology companies, with 85 percent comprised by the clinical segment
• The focus of CROs have increased onto various post approval commercial offerings owing to increased development in technology and data analysis
• Although spend on specialty focus, such as rare diseases, personalized medicines, and specialty oncology, has increased, the larger portfolio by spend size would continue to drive the programmatic CRO market

CRO Market Drivers

Cost Containment:

Pharmaceutical companies one of the major factors is to reduce costs, by lowering their internal capacities in manufacturing and R&D. This leads to expenses being diverted toward outsourcing, making CROs play an integral part of pharma to increase their productivity, access new capabilities, shift fixed to variable costs, and improve their global reach

RealWorld – Data and Analytics:

As regulators and payers place increasing importance on RWD, pharma is seen to partner with CRO, to support with predictive modeling, analytics, etc. This is driving CROs to either acquire or partner with specialists in this area

Emerging Markets:

The emerging markets of Brazil, China, Russia are witnessing increased trials, creating demand for regional CROs, with strong
regulatory knowledge

New areas of Research and Regulations:

The increased focus of pharma on large molecule therapy, rare diseases, specialty treatment, point of care assays, and personalized therapy & devices will require clinical trial testing and submission of data to the relevant regulatory authorities

Also, the depth of regulatory scrutiny has increased, such as early RWD collection and reporting every adverse events, driving increased clinical trials

Examples: Offshoring of HEOR, pharmacovigilance services to India offer cost saving of ~30–45 percent

Sustainability:

Pharma companies are highly focussed on enhancing sustainability by energy conservation, waste management and green manufacturing. Green Chemistry improves the efficiency of research and development and manufacturing practices, improving safety, saving money and lessening our impact on the environment.