According to a recent market study published by Growth Market Reports, titled, “Comparator Drug Sourcing Market by End User, and by Region: Size, Share, Trends and Opportunity Analysis, 2015-2030”, the market was valued at US$ 941.0 Million in 2021 and is expected to expand at a moderate growth rate of 3.5% by 2030.
A comparator is a marketed or investigational product used as a reference in a clinical trial. It is defined as an investigational medicinal product when the drugs are projected to be mass-produced, repacked, or used outside the registered suggestions. Comparators are used in clinical trials to compare the effectiveness of an investigational drug to the efficiency of an existing treatment.
Comparator drug sourcing is a strategic operation for the procurement of clinical trial materials around the globe. It requires a robust supply chain, forecasting operations, and logistics expertise. Several clinical trial project teams require additional, specialized sourcing support, particularly when operating in emerging markets.
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As per Growth Market Reports industry analyst, Apoorva Hora, “The comparator drug sourcing market is anticipated to register significant growth during the forecast period, 2022-2030. The market is projected to grow at a rapid pace, due to increasing usage of comparator drug sourcing among the millennials. The players are engaged in advertising their comparator drug sourcing through various social media platforms, including Instagram, Facebook, and Twitter.”
The Coronavirus disease 2019 (COVID-19) pandemic has highlighted economic disparities in the global demand in the crises of global interdependence and governance challenges. Pandemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. According to the current pandemic situation, strict measures are required for monitoring the situation, which, in turn, affect businesses, causing unanticipated short and long-term effects. Consequently, pandemics are problems for the individual market and an enhancement of existing dynamics and limitations. In the long-term, COVID-19 serves as an opportunity for manufacturers to reconsider their commitment to the supply chain in regions prone to outbreaks and to reconfigure themselves regionally. In the present scenario, COVID-19 is hampering the production processes of several manufacturing industries and businesses. Moreover, trade barriers are further reducing the demand and supply of various products and services.
The comparator drug sourcing market registered a decline in year-on-year growth in 2020 as compared to 2019. Interruption in the supply chain of comparator drug sourcing across the globe, due to the spread of COVID-19, has a positive impact on the research and development of comparative drug sourcing. The partial closure of manufacturing units and retail centers in first and second quadrants of 2020 had a significant impact on the comparator drug sourcing market. Moreover, inadequate supply of raw material and lack of available workforce for comparator drug sourcing in the first and second quadrants of 2020 hampered the market growth in 2020.
Key Takeaways from the Study:
- In terms of value, the drug manufacturer/producer segment accounted for a substantial share of the market in 2021 and is expected to expand at a significant CAGR of 3.6% during the forecast period.
- In terms of value, the academic and research institute is projected to hold 17.4% share of the market in 2021, and is expected to expand at a substantial CAGR of 2.6% during the forecast period.
Report Scope:
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Report Metric |
Details |
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Market Value in 2021 |
US$ 941.0 Million |
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Market Growth Rate (from 2020 to 2028) |
3.6% |
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Historical Data |
2015- 2020 |
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Base Year |
2021 |
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Forecast Period |
2022 - 2030 |
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Units Considered |
Value (US$ Million) |
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Market Segments |
by End User and by Region |
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Companies Profiled |
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Customization Scope |
Report customization available on request |
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Pricing and Purchase Options |
Avail tailor-made purchase options to meet your research requirements. |
Target Audience:
- Supply-side: Raw material suppliers and distributors
- Demand Side: Manufacturers
- Regulatory Side: Concerned government authorities and other regulatory bodies