CATEGORY

Comparator Drug Sourcing

Beroe LiVE.Ai™

AI-powered self-service platform for all your sourcing decision needs across 1,600+ categories llike Comparator Drug Sourcing.

Market Data, Sourcing & Supplier Intelligence, and Price & Cost Benchmarking.

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Category Alerts

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August 16, 2022
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Comparator Drug Sourcing Market Monitoring Dashboard

Price Trend
82.80
Jan-2023
AUD/MWh
History Forecast
Supply Demand

Understand the correlation between costs, margins, and prices impacting your category on a real time basis on Beroe LiVE.Ai™

Comparator Drug Sourcing Industry Benchmarks

Savings Achieved

(in %)

The average annual savings achieved in Comparator Drug Sourcing category is 8.10%

Payment Terms

(in days)

The industry average payment terms in Comparator Drug Sourcing category for the current quarter is 35.0 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

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    Abi, the AI-powered digital assistant brings together data, insights, and intelligence for faster answers to sourcing questions

    Comparator Drug Sourcing Suppliers

    424,095
    Total Suppliers
    17,851
    Diverse Suppliers
    100
    Normalized Supplier Rating
    Comparator Drug Sourcing Supplier

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

    Sample Supplier
    Company
    IQVIA HOLDINGS INC.
    Location
    Jackson, Mississipi
    Duns number
    3862211
    D&B SER Rating
    dnb logo

    Up to 3 months

    1 9
    4
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile
    Company and Sector Performance
    36
    100
    Limited (1)
    ESG Perfomance (/100)
    Environment
    41
    Social
    30
    Governance
    43
    6 Domains Performance (/100)
    Business behaviour
    48
    Human rights
    39
    Community Environment
    31
    Corporate governance
    40
    Human resources
    22
    Security Scorecard
    77
    Threat indicators
    C
    75
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    D
    63
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    C
    70
    Application Security
    Detecting common website application vulnerbilities
    C
    77
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    D
    60
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    100
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked
    Industry Comparison
    iqvia.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    1
    Human Rights Issues
    0
    Production Supply Chain Issues
    0
    Environmental Non Compliance Flags
    1
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    2
    Fraud Issues
    0
    Labor Health Safety Flags
    0
    Regulatory Issues
    2
    Workforce Disputes
    0
    Sanctions
    0
    esg energy transition
    28
    Discrimination Workforce Rights Issues
    0
    esg controversies critical severity
    No

    Comparator Drug Sourcing market frequently asked questions

    The global comparator drug sourcing market attained a valuation of $0.96 Bn in 2020, and the figure is likely to multiply at 7-7.5 CAGR during 2020-2025.

    As part of their market strategy, global comparator drug sourcing market players are focusing on sourcing comparators and clinical trials from emerging countries at better pricing. In addition, they are tapping into small markets by joining forces with distributors/logistics players who can deliver to different regions with fewer supply bases.

    The COVID-19 pandemic has adversely affected the logistics of trial supplies, from the pre-clinical stage to data analysis. While the crisis has underscored the need for automation, industry growth has slumped by 5-10% due to a limited workforce.

    Innovations in the trial supply chain via e-commerce platforms using artificial intelligence (AI) will enable delivery to multiple locations. Moreover, these platforms allow market players to connect with various distributors for a specific trial supply, including comparators, and examine the suitable distributor.

    Equipping comparator sourcing with AI boosts the operational efficacy and slashes the trial cost by decreasing sourcing overages. Moving ahead, implementing blockchain in pharma supply chain financial service platforms improves visibility, efficiency, and financial operations.

    Several global comparator drug sourcing market players are integrating interactive response technology (IRT) with an electronic data capture (EDC) to improve transparency in clinical operations and the flow of clinical supply. Moreover, fusing IRT with real-time tracking equipment enhances flexibility and makes it easy for medical professionals to monitor patients residing in remote areas.

    Comparator Drug Sourcing market report transcript

    The global market is expected to grow with a CAGR of 7-7.5 percent between 2020 and 2025

    • 2020 market value stood up to $ 0.96 billion
    • Emerging countries in Eastern Europe and Asia pacific have been evolving in providing comparators and clinical trialsupplies which can cater to the client needs across globe. Sourcing from emerging countries provide value for the productat better pricing
    • At the same time global players are reaching small markets by expanding their network with distributors/logistics playerswho can deliver to regions with fewer supply base.

    Impact of COVID-19 on Comparator Sourcing 

    While COVID-19 outbreak has greatly impacted trial supply value chain from pre-clinical until data analysis, one of the main reasons for huge impact is lack of demand forecast and feasibility planning. In the future, pharma companies can adopt collaborative approach for procurement of trial supplies and have a diversified supplier base

    • Reliance on single global player is reducing owing to the pandemic and pharma is now looking for diversified local players as well to minimize logistic and supply disruptions

    Digitization in procurement

    • Innovations in the trial supply chain through innovative e-commerce platforms using artificial intelligence is revolutionizing this space where delivery to various sites is possible through these platforms
    • These platforms also enable to connect with various suppliers for a particular trial supply including comparators and evaluate the right supplier

    Import of API and logistics

    • Given the virus outbreak, logistics of trial supplies has taken a big hit. India has restricted export of 26 active ingredients, which is about 10 percent of all drug exports from India.

    Consolidated base for trial supplies

    • There is a heavy reliance on the global suppliers for trial supplies, given that they have centralized inventory management and platform to manage workflow.

    Market Trends

    The COVID-19 pandemic has created the need for automation, but also has resulted in 5-10 percent dip in the industry. This may be due to industries working with limited workforce

    Use of IRT/RTSM

    • To improve efficiency in clinical trial processes, to save valuable resources, pharma is automating clinical trial supplies process including sourcing of comparators that includes adopting new technologies in packaging and labelling, printing, use of IRT and RTSM and integrating the solutions for efficient clinical operations. Industry is moving to Integrate IRT systems with EDC to enhance visibility in clinical operations and flow of clinical supply
    • IRT provides access to patient data and on time delivery of drugs to the patient, which increases the efficiency of trial and reduces the cost to trial (reduces overages).
    • Integrating IRT with real-time monitoring devices will increase the flexibility and make it easy for investigators to monitor patients in remote location.
    • Suppliers are actively moving to adopt digital data collection from paper based process.

    AI & Block Chain Technology

    Applying AI to comparator sourcing will increase the operational efficiency and reduces the trial cost by reducing the overages of sourcing

    • A clinical supply chain management company developed logistics software platform that uses EDC and IRT to actively monitor clinical supply consumption, patient timelines and supply kit expiration
    • Block Chain is being implemented in pharma procurement supply chain financial services platform to improve efficiency, transparency, and financial operations
    • In Africa, mass serialization and block chain tech(assigning an ID for a product and saving as an asset in the block chain) is being adapted to reduce counterfeit and illegal supply of drugs