Comparator Drug Sourcing Market to Grow with a CAGR of 5.74% through 2030
Rising
demand for clinical trials and increasing focus on personalized medicine, is
expected to drive the Global Comparator Drug Sourcing Market growth in the
forecast period, 2026-2030
According to
TechSci Research report, “Comparator Drug Sourcing Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2030F”,
the Global Comparator Drug Sourcing Market stood at USD 1.34 Billion in
2024 and is expected to reach USD 1.88 Billion by 2030 with a CAGR of 5.74% during
the forecast period. The Global Comparator Drug Sourcing Market is witnessing a
dynamic growth trajectory fueled by the increasing volume of clinical trials
and the rising complexity of drug development. As the pharmaceutical industry
focuses more on innovative therapies, particularly in areas such as oncology,
immunology, and neurology, the demand for comparator drugs continues to rise.
Regulatory bodies are placing greater emphasis on ensuring that new drugs are
tested against the most appropriate and high-quality comparators, which has led
to the creation of more standardized sourcing practices. This need for
compliance with international clinical trial standards and the availability of
a wider variety of comparator drugs are expected to drive the market further in
the coming years.
Emerging trends
within the market include the growth of global clinical trials, which have
expanded in both scope and geographical reach. This, in turn, has fueled a
demand for more diversified and readily accessible comparator drugs. The
increasing integration of digital technologies such as blockchain, AI, and
machine learning is also reshaping the way clinical trial data is managed and
analyzed, improving the efficiency of drug sourcing. The ability to track and
authenticate comparator drugs with greater transparency ensures better control
over quality and regulatory compliance, making it easier for companies to meet
global standards. Moreover, with the growing popularity of virtual and
decentralized clinical trials, there is an increasing reliance on digital
platforms to facilitate the procurement and distribution of comparator drugs.
Growth
opportunities in the Global Comparator Drug Sourcing Market are abundant due to
the increasing shift toward more patient-centric clinical trials and the
globalization of the pharmaceutical industry. As pharmaceutical companies
expand their research and development operations into new therapeutic areas,
the need for high-quality comparator drugs will intensify. The rise of
biologics and biosimilars, particularly in emerging markets, presents
significant opportunities for companies specializing in comparator drug
sourcing. Another key area for growth is the continued adoption of technology
to streamline clinical trial processes, including the use of real-time
monitoring and advanced analytics for faster decision-making. By capitalizing
on these technological advancements and the growing demand for efficient trial
management, companies can further strengthen their position in the competitive
landscape of comparator drug sourcing.
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"Global Comparator Drug Sourcing Market”
The Global Comparator
Drug Sourcing Market is segmented into service type, therapeutic area, end user,
regional distribution, and company.
Based on the Therapeutic
Area, Oncology emerged as the fastest growing segment in the Global Comparator
Drug Sourcing Market during the forecast period. This is driven by several key
factors. The increasing prevalence of cancer worldwide has led to a surge in
clinical trials focused on developing innovative oncology treatments. These
trials require reliable and high-quality comparator drugs to establish the
efficacy and safety of new investigational drugs. The growing focus on
personalized medicine and the development of biologics and biosimilars in
oncology has intensified the need for precise and high-quality comparator
drugs. Pharmaceutical and biotechnology companies are investing heavily in
research and development to cater to these trends, further solidifying their position
in the comparator drug sourcing market. Advancements in biotechnology and
pharmaceutical research are likely to create further opportunities for market
growth. The increasing complexity of clinical trial designs, including adaptive
trials and multi-center studies, necessitates sophisticated sourcing
strategies. Specialized sourcing and procurement services are equipped to
handle these complexities, ensuring the timely and compliant supply of
comparator drugs. This capability has solidified the position of the Sourcing
& Procurement segment as the leading service type in the comparator drug
sourcing market.
Based
on the Region, Asia-Pacific emerged as the fastest growing region in the Global
Comparator Drug Sourcing Market during
the forecast period. This is driven by several key factors. The region's rapid
economic growth has led to increased investments in healthcare infrastructure
and research and development. Countries like China and India are expanding
their pharmaceutical sectors, resulting in a higher number of clinical trials
and a growing demand for comparator drugs. In 2023, China approved 87 novel drugs,
and India approved 27 new drugs, reflecting the region's commitment to
advancing medical research.
Additionally,
the Asia-Pacific region is experiencing a rising prevalence of chronic
diseases, including cancer, cardiovascular conditions, and neurological
disorders. This increase has spurred the development of new therapies, further
driving the need for comparator drugs in clinical trials. The region's large
and diverse patient populations provide a valuable resource for conducting
extensive clinical studies, making it an attractive destination for
pharmaceutical companies seeking to develop and test new treatments.
Major
companies operating in Global Comparator Drug Sourcing Market are:
- Clinigen
Limited
- BAP
Pharma Group Limited
- Thermo
Fisher Scientific Inc.
- Laboratory
Corporation of America Holdings
- Catalent,
Inc.
- Almac
Group Limited
- McKesson
Corporation
- Euromed
Pharma S.r.l.
- Sharp
Services, LLC
- PCI
Pharma Services
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“The Global Comparator Drug Sourcing
Market is expanding due to the increasing globalization of clinical trials, which
necessitates the procurement of comparator drugs from diverse regions to ensure
consistent and reliable supply across multiple countries. As pharmaceutical
companies conduct trials in various parts of the world, they require access to
comparator drugs that meet the specific regulatory and quality standards of
each region. This trend drives the demand for specialized sourcing solutions
capable of navigating the complexities of international supply chains, thereby
propelling market growth. The increasing globalization of clinical trials
necessitates the procurement of comparator drugs from diverse regions to ensure
consistent and reliable supply across multiple countries.,”
said Mr. Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
“Comparator Drug Sourcing
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Service Type (Sourcing & Procurement, Supply Chain Management,
Regulatory & Quality Compliance, Packaging & Labelling, Consulting Services),
By Therapeutic Area (Oncology, Cardiovascular Diseases, Neurology, Infectious
Diseases, Immunology, Metabolic Disorders, Rare Diseases, Others), By End User
(Pharmaceutical & Biotechnology Companies, Contract Research Organizations
(CROs), Academic & Research Institutions, Others), By Region and
Competition, 2020-2030F”, has evaluated the future growth potential of Global
Comparator Drug Sourcing Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Comparator
Drug Sourcing Market.
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